The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-01-03

QUOTATIONS FoR FANCY STOCKS IN THE NEw YORK
Jon Msr May July Sept. Nev Dec.
Reading r. RI! s,s = =; ~ =: * y * *
S n: $.,! s,;s ss 4; p Il; y; X 4
H ;s: i; E:;i:::s & i. b X &
sM i,nvso '...'..3as 81 60 g., &C. 70 6, e.
S ss$$s'si Z; Z, IS + 81
United State. Bank. Il 4 il x ~ sx 81
E Ess1 s &%'a Trust; ~ ~ ~ rs ;.
This table shows the true Of the speculative
movements throughout the year. The movement has
touched nesry every stock in the list but the imitation
continued In some much longer than in others. Some
OF tho bubbles burst than Others but before
the LIST Of November the explosion had become general
aud in December prices had touched points lower than
they had been for the previous years There wide
margin for an advance when the time but there
are indications that the margin will be wider still before
the reaction commences.
The money market closed on Friday very tight
IL was very heavy day in the way of aymsnts the a
bities falling due in three days having been paid In
one This in connection with the panic among the bill
holders OF State banks, produced great deal Of
earrassment among the commercial classes and tended
10 depress prices Of stock generally 1t has bsen the
impression Tor sometime past particularly among the
fancy stock operators that the money market after the
LIST Of January would be much relieved, and that
steady improvement would be realised in the markets
generally 1t is our impression that they will be sadly
disappointed in ths-that the Improvement anticipated
will not be realized, but the contrary st greater
depression will take place. Fancy stocks cannot ad-
vance in the face of the known demands upon the money
market; prices for all kinds of produce may improve
even in the absence Of any foreign demand They are
already high, but the domestic demand exceedingly
large TO what it has been in years past that the sup
ply is by no means large and prices may b. sustained
and may advance This is fortunate for producers in
this county as the prospect of very extensive de-
mand from Europe is daily diminishing, aud more de-
pendence must be placed upon our domestic consump
ton Upon the opening Of navigation in the rprirg
prices may give way little, but not to the extent anti
cpated. The crops of this country have during the
past year, been larger than usua-particu
larly the crop Of Indian but We not believe
that larger quantity of grain will find its way to
ket this year than last IS the consumption Of corn
fatenirg cattle and swine will be much larger than
usual that the of production will be very much
reduced 1t will require sometime after the opening of
the canals to f up market to meet the demand for
home consumption and the amount left in the hands
OF producers alter the immediate wants Of consump-
ton are supplied will be small that they will be able
hold; at all events we do not believe they will submit to
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spring up very active demand for expectation prices
must advance rapidly have doubt the rates
allied last year would rule again. Last year at this
time prices were about the same those current
and the European demand for breadstuns was
limited. 1t the hrst of May that the
movement got much Roadway last year. and 1t may be
as that this before any demand from that
quarter realized if it Is realized to any extent at all
We look for much lower prices for cotton than those
now ruling. The production will prove much large
than anticipated early In the and the consump
ton likely to DO exceedingly limited compared to that
OF previous years The extent Of the crop will have
very depressing influence upon prices, which, in con-
nection with the efforts Of tie European manufacturers
to depreests the value of the raw material will re-
auoe the aggregate value Of our cotton crop very
materially. There il . strong disposition among the
planters to hold for better prices than those now
current, but in this think they will be disappointed
We advise them to sell at once; prices are now higher
than they probably will be for . long time to como,
and all who realize will be able to replace their
supply, II they wish, sometime hence, and make
haudoome profit. The planters almost invariably break
down In their attempts to hold Heretofore they have
held firmly early in the season. and have refused fair
prices and have ultimately realised after prices had
fallen fifteen and twenty per cent. With Q crop of
twenty three hundred thousand bales e 100000 1t
qures very extensive combination to hold as such
favorable influence upon prices; and then again the
supply even with large cent kept upon the panta
tons, will probably be equal to the demand for con-
sumption. Suppose the planters can hold over three
hundred thousand bales of the crop, that would
leave two millions Of bales, which in the existing state
OF the manufacturers of Great Britain will be more
than sufficient to meet any demand from that quarter
We look for low prices principally upon the ground that
our planters cannot keep out OF the market sucent
quantity to sustain current rates We do doubt the
ability Of many planters to hold enc even three
seasons but they few compared with those who are
compelled t, realise, fast faster than they
produce the raw material Our advice to the planters
IL, to sell by all means
The finances Of Pennsylvania are In very 1ourshng
condition They are rapidly improving, and the semi
annual payment of interest due the LIST day Of Feb
ruary next will be promptly paid without any special
Loans, or any important anticipation Of taxes The
amount Of received in each Of the past three
years, has been as annexed -
FINANCES OF PENysvLvAyIA- AMOUNT REVENUE
E:is: 81 40. 1 = IL .isss:,s
The most important items Of have yielded the
following amounts in each of the past three years.:
E Il! on I sss s, ss % 81:
Total. .......... sls1,as7 sI.1s,5os .I.7is 800
The revenue from the pubic works would have been
much larger this year. had not been for the unfortu
nate breach in the Junata division of the canal at the
busiest season Of the year. by which large amount Of
trade was diverted to other channels
appears from the report Of the Comptroller Of Ten
nes'ee recently laid before the legislature Of that State
mat the total liabilities Of the State drawing interest
on tho hrs Monday of October last $ass7 $50 &C.
ana nat the total productive stocks Of the State draw
ing interest," were, at the time 81 4so g. BY
this will be that the balance Of assets ovar
ties, sl4eeb7s %. The total receipts into the tren
of the State during the tuo xasx. H.