The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-11-24
CT N M CIAL AFFAIRS.
MONEY MARKET.
Thursday, Nov. AT

III III i ny.
MONEY MARKET.
Thursday, Nov. 23-G II. M.
This day having been apart by the executive Of
The State, as day Of Thanksgiving and praise for
the numerous blessings have, as people, IN
joyed during the past year. nearly all kinds Of busnes
suspended, and the attention Of all classes has
been confined principally to feastng and various other
methods of enjoyment. All places Of public amuse
ment crowded, and the fine weather gave all an
opportunity to attend to all out. door smusements
Wall street nearly deserted and all the and
warehouses In the lower part Of the city closed.
The annexed extract from the letter of CORES
pondent in London, gives an account Of the manner
in which the reaction in railways was produced
Zone cause Of this decline was the dstrust of the
public to the accounts OF these companies and also
the total absence Of any authorized statements by
which the shareholders could estimate the liabilities
that had been incurred for branch lines
yet to be constructed. About fortnight back the
Times plainly pointed out this fact, aud asserted that
the dow ward courfe of railway property would never
be arrested until full and reliable information was
given the points in question The public oonourred
in the opinion and the result was that the leading
company-the London and North Western-fet itself
com PEELED to comply with the demand. A statement
and from this 1t appeared that the directors had
abandoned less than IA pes for the construction
of which they had obtained acts Of Parliament and
which to cost lees than 10 COO 900 sterling it
bad the ELECTS OF checking the panic and causing the
shares Of this company to advance from 90 to III
that Is TO ray, from disc ount to Il premium Tho
example having been set by the London and North
Western Company, the other principal lines had Of
course no alternative but to adopt similar course,
and notifications have consequently appear cd that in
these cases, aso, statements in preparation To
considerable degree therefore, the panic has bee ar
rested, but still prices ON the whole are not much
higher than they were month back. After the jump
consequent on the London and North Western state
ment there was tendency to reaction but the reduc
tion of interest by the bank has again impaired firm
ness
In view of these facts confidently reiterate our
opinion that another reaction the of that just
realized will take place before tho lapse Of many weeks
The second sober thought Of the public will satisfy
them that it will be impossible to sustain prices, and
the only alternative is to settle down upon present
value arrest the extension Of lines and extrcae
possible the affairs of the old companies the diff
culties surrounding them. AS moderately and appa
rently safely as we have advanced In the constuc
ton Of these works, in this country it will only be
with the most judicious and economical management
in the world that shall be able to avoid the panic
experienced in Great Britain. We ara in the midst
greater embarrassing nts than is generally imagined
and it is with fear and trembling that contemplate
the position Of some of companies. We trust all
will 60 we'll; that they will be able to complete their
roads, and place them in position to become produc
tive possible. The improve realized In
England, noticed above, it appears, was the result
more Of combination among managers to restore
public confidence, than from any actual increase in
the productveness Of the lines value of the invest
ments and when 1t suits these parties to let prices
down again, they will not find it very difficult to
accomplish the object in view.
The quantity Of certain articles of agricultural
produce exported from New Orleans for the two
weeks ending the 18th instant, distinguishing the
destination and extent Of shipments to each country
was annexed -
COMMERCE PoRr New ORLEANs-AsRI-
CULTURAL EXPORTS.
For England-23,730 bales cotton, 1923 hhds tobacco,
12447 barrels -four Is $40 bushels wheat 500 slaves
8 casks beeswdx 1913 492 bushels cron sol tons oil
cake IT'S barrels taow, 693 terces lard 81 barrels do
For Seotiand-1,5le bales cotton, 500 barrels -four,
2030 sacks corn
For Ireland, o. Cork and a Marke-1,so5 bales
cotton.
For Holland-ss4 bales cotton.
For Beigium-1 7jl bales cotton so hhds. tobacco.
For France, on the .aaantic-7,2s7 bales cotton, "a
barrels grease.
For Spain-2S65 bales cotton, 1000 slaves
For Spanish West Indies b6 bales cotton. 200 bbs.
-four 80 barrels pork so kegs butter rs casks hams
$50 barrels allow 40 barrels apples 6495 kegs lard,
III barrels lard. 4l3 tierces do.
For British West Indes7O0 barrels -four 724 barrels
pork 1884 kegs lard 200 kegs butter 10 casks hams 800
half barrels tongues ~
For Dcnish Vest Idies-5 $50 barrels flour, 400 bbs.
For Yueatsn-3 sec sacks corn, 60 kegs lard.
For Hondmas-3s4 barrels -four, ITO half do. 40
barrels lard $50 kegs do, casks hams, 200 barrels
bread SO do. beans, 20 do pork, 70 do beef, 10 do
sugar
for M,uieo-l73 bales cotton.
The total shpme nts Of cotton vera Gs2 bales and
of flour l4eO OF other items the expectation has not
been to any great extent The shipments Of bread
stus from New Orleans do not equal those from this
port.
The exports from other southern ports have been
lar ger this year compared with last will be by
tie annexed statement Of the commerce OF Savannah
since October LIST -:
COMMERCE OF SAvASSAH-VALuE OF EXPORTS.
value of exports in October, 1S47. .$44l38
Value OF exports in October, 1913. .152 1854
Balance in favor Of 1913. s1OS, 2l6
Value Of exports In Nov 1s4I up to 18th. .$55 ll9
Value Of exports in Nov ls4S up to 18th. .l69 1853
Balance in favor Of 1S4S. ............. .$114s44
Thus appears that the value of exports for October
and the first fourteen days Of November, amount to
ZONE 1928 eco more than for the time last year.
The shipments Of cotton from Savannah to foreign
ports this seaeon have been large-they being, from
September LIST to November 18th, 1847, $40 bales
against 81 bales for the time this year. show
! ing an increase this year of 0,762 bales.
MARKETS ELSEWHERE.
STOCK SALES.
22-Sl 600 Baltimore 6S 1890 97s hs
Bank Of Baltimore So 20 Ball. and Ohio Railroad Co. " 30 do
| E!s. n, .r,, o,,- ~,