The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-08-30
C0MMERCIAL AFPAIRS.
MONEY MARKET.


The stock market was little more active to-day,
but prices remain about the quoted yesterday
The transactions in securities for several
days past, have been unusually limited owing proba-
bly, to the decline in prices, and the disposition to
hold for investment. At the first board, to-day,
United States 6's, 1862 fell of n per cent? Ohio os, II
New Haven and Hartford, u. Farmers Loan ad.
vanced n; Long Island, u; and Norwich and Worces.
ter, IA. The movements in this last named stock,
clearly illustrates the limited influence of the money
market upon the cornerng operations of stock pecu
lators. While all other fanoes have steadily declined,
this has steadily advanced from 80 to 35, and from
the small sales at the Improvement we should judge
that the combination intended carrying 1t up still
higher. The state Of the money market has, in fact
very little to do with operations OF fancy stocks We
have known an enormous imitation in prices, and the
most successful corners for rise, when money was
exceedingly scarce, and worth and two per cent
month on the best securities.
Sterling exchange has been in moderate demand,
to-day, for remittance by the Cambria. We quote
prime bile on London at a Ga per cent. premium
There is SO little doing in bills the Continent that
quotations are nearly nominal.
The amount Of specie exported from Boston to TO-
reign ports during the last week. Ssse4 75 900
Of which was in Ave franc pieces, and went to the
West Indies; and the remainder in doubloons, and
went to Cape de Verde Islands The amount imported
and entered at the Custom House was $1,000.
Unfounded reports concerning this bank having
been circulated rome weeks ago. the comptroller felt
called upon to test their accuracy by prompt exami
nation of the affairs Of the bank. The result shows
the bank to be in q sound condition and abundanty
able to meet all it's engagements, it always has, with
readiness and punctuality.
The comptroller has given notice that all circulating
notes issued by the Farmers and Mechanics Bank Of
Ogdensburg must be presented at the comptroller's
forp with Eve
August, 1S4S or that the funds deposited with the
comptroller for the redemption of its notes will be
given up to said banks.
The Boston money market is easier The supply
has increased and the demand diminished The rates
have also declined fully three per cent both for de-
mand and time loans. One of the railroad corpora
tons, which has been in the market for sixty days
past taking all the money it could get shamefully
unlawful terms has ceased to be borrower. This
fact alone has aided materially in relieving the mar
ket. The wants Of the business community daily
becoming less, and the banks extending their dis
counts. .-fra sisf5t
The amount received for tolls all the New York
State canals, during the third week in August, in
each of the past two years, was annexed =
NEW YORK STATE CANALs.-AMoUNT OF Tolls.
Receipts, third week in August 1s47 .S101,619 %
Do. do. do. do 1S4S.. 82,264 AZ
Decrease in 1s4s.. ......... $40 354 rs
The aggregate amount received for tolls from the
commencement of navigation to the 2lst Of August,
inclusive, in 1S47, was sos So
During came period in lsAs. ....... 1,634,37s 10
Decrease in 1S4S.. ......... .$546,127 SO
The falling Off thus far, exceeds thirty.three and
third per cent but there indicate ons of
tive business the canals for the remainder of the
season Prices for breadstuffs likely to improve,
and in that event. produce will be pressing for
ward from the interior. Our recent advices from
the potato disease, and injury to the grain crops
by the wet weather. If these accounts true, and
we disposed to believe that the real state of the
crops Is much more unfavorabe than reported, there
must be active demand for our breadstufs and of
course, improvement of Importance in prices
The reports which have from time to time reached u.s.
relative to the state Of the markets. crite
ron whatever Of the condition Of the crops 1t must
be borne in mind that those markets regulated by
small ciiques of individuals who give whatever COM
plexion the reports their interests may require
without any regard to the supply the harvests Just
previous to the departure Of steamer for this coun
try, prices regulated to have certain inau
ence here Spectators and producers this side Of
the Atlantic should be particularly cautious of these
reports and look to the accounts Of the crops
and harvest in different parts of the country. They
can Judge correctly from these things than from
the daily state of prices This Is already pretty we'll
understood this sde De seen Improve
ment in markets. in the face Of reported decline
in London previous to the departure of the Britannia
There short supply of breadstuifs in the Atlantic
markets at this moment, and there but three
months of and canal navigation left at the utmost
The receipts that time must be large enough to sup
ply the consumption of an immense population on the
seatoard and the demand for expectation, period
of at least nine months and the state of prices for
the next year. depends uponl the probability Of that
dema nd being satisfied. 1t is true, that the compile
ton Of the New York and New Haven railroad TO
Bridgeport connecting with the Housatonic at tina
place, and the Harlem road at Williams Bridge, will
give us a railroad connection with Albany, and
veyance for freight throughout the winter. This will
in a measure remove the difficulties have hereto
fore abored under but II there is short supply Of
breadstufs at the close Of navigation it will take
more than railroad to keep up with the demand
II our next accounts from Great Britain confirm
those recently received relative to the potato crop
and report any important danger to the grain
crops, from the wet weather, impetus will, at
once be given to movements of breadstuGs in this
country, and holders will demand further improve.
ment in prices. Even without any very extensive
foreign demand our domestic markets are likely to be
sufficiently large to keep prices pretty well up from
this time forward 1t win be perceived on reference
to cur trade report that large sales Of wheat and corn
have been made since the arrival of the steamer for
export at full prices showing disposition on the part
spectators to be early in the market to take advan
tage any improvement in prices, growing out ofany
deficiency in the crops Of Europe The question will
be settled in few weeks but every week. at this sea-
of the year. to holders Of breadstus in the inte
rior of this country is worth month earlier in the
year. In the event Of great deficiency in the har
vests of England, may well abandon all hope fer
improvement in prices for cotton first last 1t
will be entirely out Of the question particularly in the
face of the large crop now maturing The crop
coming market will be very twenty three hun
drtd thousand bales, and the crop will not be
much short of twenty-five hundred thousand bales.