The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-10-05
CO NJ NJ ERCIAL AFFAIRS.
MONEY MARKET.

wednesday, Oct. 4-6 p. M.
There was slight reaction in the stock market to-
day. and several Of the ancies improved the closing
prices Of yesterday. Harlem went up q per cent;
Long Island, n; Norwich and Worcester, l; Canton,
81 Erie Railroad, new FULL q. Morris Canal fell of q;
Reading Bonds, q; Ohio 6's, u. The sales not
large but the market closed with an upward ten
dency
At the second board Treasury notes advanced u per
cent Harlem, III Norwich and Worcester, u. Reading
Railroad fell ok.
The money market is decidedly easier Treasury
notes steadily improving, and loans easily be
obtained government securities, ct six per cent
The banks have oosened the little, and dis
count freely Good short business paperjs scarce
and is easily negotiated at the rate of nine per cent
The receipts of the New York and Harlem Railroad
Company for the month Of September, 1S4s, were
SOL 44O 49, against $25 9s6 o. for the corresponding
month in 1s47 showing increase of $5,454 a. equal
to twenty-one per cent.
The receipts of the New York and Erie Railroad
Company for the month of September, 1S4s, were
$26 143 o. against $23924 81 for the month in
1s47 showing increase of 21s 20, equal to nine
per cent.
The American mail steamship Hermann, at this port
from Southampton, brings five days later intelligence
from Lendon and the continent of Europe Advices
received by this arrival rather mportantn poll
teal point Of view, and rather encouraging CONNER
cialy Cotton steady at prices previously report
ed; and there had been an advance in breadstuffs
generally. The manufacturing districts were less
active than at the departure Of the America Consols
had improved fraction and the money market CONT
nues easy without any change in the rate of interest
The excitement growing out of the recent financial
operation of the Treasury Department. has developed
some curious facts connected with Wall street affairs
The position Of the principal operators of that place
is curious and shows pretty clearly the movements
going beneath the surface Of that great rendezvous
Of changers In all financial transactions of any
importance there always two great parties. These
parties are the bulls and bears the first in favor of
any thing calculated to initiate prices for stocks
rally and the latter in favor of depressing them
much az possible Whatever the operation is if it is
in any way connected with finances, it is, of course
connected with stocks There regular cliques of
stock SPECTATORS formed of of the wealthiest
capitalists in Wall street. and the movements which
from time time take place between these cques
Of the most extraordinary characyer They frequently
resort ways and to catch each other which
edipgly difficult to avoid, and the management
and manGuvering would not discredit the most
distinguished generals, in planning a military cam
psign There in Wall street, at this moment,
two great parties of SPECTATORS, and a third
party, clique Of outside operators, whose in
fuencc is thrown first in one balance then in the
other their interest dictates This is sort Of
ervative clique nd whichever the two parties Sc
cures its cooperation generally proves victorious The
bull party that in favor of improvement In prices
for treasury notes and stocks generally at prese
composed of Matthew Morgan, Elisha Riggs, Corcoran
Riggs, Dykers Alstyne Drew, Robinson s. Co-and
the bear party those in depressing prices
notes and all kinds of securities composed
of Jacob Little Co., Jaudon s. Co., Winslow & Per-
kins, and half dozen small houses which follow in
the wake Of the large ones-and the contest going
between these parties is by calculated ad
the interests Of either The bull party the prn-
pa operator in which is Matthew Morgan is the party
that has received the eight hundred thousand dollar
,oan from the Treasury Department, and which is
nee otating lean Of five millions of dollars in Europe
through Mr. Corcoran If Mr. Corcoran succeeds well
in London the Continent as Mr. Morgan has in this
city and in Washington, the bull party will defeat its
opponents MIR Morgan has proved himself able hnan
cer since be commenced operations in this city hay
extensive and valuable connections at the
principal points whatever party he attaches himse
TO- occupies very strong position. This gentleman
vas, originally drug merchant in New Orleans,
where he transacted very large business, aud accu
nuated considerable property lie afterwards married
Ia very wealthy lady Of that city, and became the
{owny Of large quantity of real estate situated in
Eibe best part Of New Orleans which has since in
large per cent in value. Some time since
Me became aIesident in this city, and established him
*sclf as one Of our most prominent fnancers He
&but the New York Hotel, and is part proprietor Of
The Aston Place Opera House. Such Is brief history
f Of the leading stock operators in Wall street.
he is as successful in his career here as he has
cen elsewhere, 1t viii not be many years before he be-