The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-04-23
MONEY AlARlZBT.
ThuxrtlaY. Anil 22-0 r. M.

-.
Thursday, April 22-8 r. M.
The stock market was exceedingly Arm to-day. Nor
ris Canal fell OF u per Ct; Reading u. All the others
closed firm at yesterdays prices The European
has had no effect upon any of markets, and there
appears very little disposition to operate Quotations
for fancy stocks remain very steady amidst all the move
ments going affect prices which pretty good evil
dence that holders anticipate improvement one Of
these days
Barngs circular of the Sd inst says that there have
considerable sales Of Pennsylvania Ct at
&C. 65 and per Buyers of Maryland at s5 sellers
per cent and the market in suspense until the final
settlement Of the bill before the legislature Of that
state Sales of Indiana at IS per Ct, at which some is
st offered In other stocks material alteration, and
the present money market is unavorabe for
any demand for the purpose of investment" The co-
sing quotations for American stocks follows
Alabama SIS SO do. eos 81 Florida SIS % Illinois do
IS Indiana SIS 50; Kentucky 6s 90 Louisiana So Bar
ing's eli do do Lizards III do do SO; Mississippi 6's
50 do. f5's Is Maryland SIS OF; do. do. &, l0i Mi
chigan SIS SO; Pennsylvania 5's IS South Carolina SIS
Barings SO do do. Palmers 81 Tennessee SIS 90 u
s. Bank shares i3s.
The system Of warehousing In connection with our
import trade has been In operation nearly nine months
and in that short period 1t has proved to be
important and necessary branch of commercial
The time it has been in operation has hardly been
sufficient to illustrate all the beauties Of the plan 1t
has far only been connected with import trade and
merchandise intended for consumption in mar
kss has been the only items warehoused In the busy
Of the year. when all markets active and
particularly when tho importation has in the aggregate
been unusually limited there not good opportu
nifty to test the system at other times We shall de-
rive great benefits from this warehousng act In
ton with export trade will save all the trouble
Of the former plan in obtaining drawbacks 1t will make
this port tho general depot for the accumulation OF
products from all parts Of the world for the purpose Of
reshipment in connection with products, to
| foreign ports In immediate vicinity. The
of other nations will centre here for the
pose of obtaining supplies, instead Of voyagng all over
the world to make the required assortment Through
the operation of the warehousing system shall be
great extent the carriers for all other nations
The books ofthe warehousing bureau in this district
made up to the end Of the first quarter Of ls47 show
that goods have been warshoused to the amount in tota
value, at invoice COST of. 81 1865, sol
| Total duty chargeable on the Same is found to
average about 80 per cent and amounts to-. 10000
The average length Of time that goods remain in
house is estimated to be yet but about four months
II must however DO considered that the have
not been favorable for protracted storage Of foreign
goods, the demand from the trade having been much
/
the operations Of this SYSTEM the first eight months
1t appears that at the legal rate Of interest the amount
of money that viii be virtually saved to the merchant
the warehousng done in the past quarter estimating
the period Of stowage at four months the average
| Is. ........'. 80. $l2,4OO
In addition to this estimate, tho amount which wa
warehoused previous tho LIST Of January from the
sage of the act the 9th of August five months
in the ratio will make in interest. $40, 60
Making total saving Of interest during the first
eight months of tho system, Of ........ $33,00t
This estimate interest rates is in fact real saving
much Of the principal went to increase the business
capital of the merchant capital in active operation
commercial pursuits which the profits range from
per cent 1t would therefore, be safe to double thu
amount and say that tho actual amount Of benefit
crung the of this city during the first cgh
months of warehousing is equivalent to net profit o
$4,000 For the first year Of the system ending tho 6tl
Of August next the benefit will at this rate amount to
profit in round numbers, Of 100000.
This in the very infancy of the system when its very
| existence Is comparatively unknown abroad, and tn
mportatons warehoused only those of the ordinar
home trade, and composed Of goods which would hav
boon otherwise duty paid at once for consumption, ant
whom it was necessarily mperfecty administered, fur
nshes grounds for anticipating an increase to YER
hattsring extent, and increasing in each sucoeedin
transactions Of tho day.
Judging from the which has attended tn
establishing Of a warehouseing system In other com
mercal countries have not the slightest doubt blu
that few years will suffice to place ours upon firm
foundation The transit trade Of Canada through tn
United States will be much increased and facilitated b.
this system and under tho judicious administration
the present head of this department in the Custom
House this port have doubt but that Its opera
ton will be simpihed, and become generally know
and adopted, that 1t will prove to be one Of the mos
important commercial. movements Of the age in thi
| part Of the world.
OF the 81 sol in merchandise warehoused for tn
quarter ending March 81 ls47, $500 1872 withdraw
during the quarter and sos 10 remained in warehOus
at the close. OF the goods warehoused 100000
cotton $lo3 in linens s254 900 in silks $lsl
| in woollens
We annex returns, exhibiting the condition of the
leading departments Of the Bank Of England at fou
different periods