The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-10-10

CO IA iERclAt AFFAIRS.
HONEY MARKET.


Tuessny, oct. DO II. m.
ssme little excitement was created in Wall street
this morning by the announcement Of the arrival Of
the steamship Empire city from Chagres. with about
half millian dollars worth Of California gold on
board IL however, had no influence in srrsstsx tn
depreciation in fancy stocks nor dsterred the bears
from selling at currest prices At thu frst board
United States, '67 went ~ - United States So, ~
RsSaius Railroad y. Fafmsrs' Loan declined y per
cert; Hudson Railroad u; Harlem, 4 There
were large sales Of Harlem, one operator ha'ing dis
posed Of lTCO ,hsres ia lots to suit purchasers for
cash 1t is supposed these sales Tor the aecoaut
OF parties pretty intimately connected With the ma
DsgeBent Of the companys affairs. There was better
depazd to-day for government. stocks, probably 70
remittance by the Liverpool packet to morrow 1t
will be that Of the time ssles to day have
sellers option indicating confidence in a further fall
At the second board, the sses of Harlem
susliy large at further decline OF - per cent In
other stoeks the transactions limited without
any change in prices.
There was an election to-day for directors Of tn
Erie Railroad Company TOR the ensuing year The old
board elected with the exception OF Slas Brown,
and John Phelps chosen in his steaad. 1t is
"bsrdware and calico direction throughout
Sterling e1absrgs vas in active demand to-day, a.
extreme quotations The best bills firm at 10
l0I4 per cent premium.
Inc receipts tlne ODoa OF tue AbbliLaut
OF this port to-day, amounted to sss,iSs o.. Pay
ments, SIS 653 OIL; b.lauee. S3,900,9f7 93
The following dividends have been declared In Wor
ceater Worcester Bank per cent; Central Baak
as; Citizens DO. A; Quinsigsmond Bank, 3H; and
Ncehanic's Bank, 3.
One Of onr eoein poraries rays "that q leading do
mesic szchangs house in Wall street, with barches
~ pbilade h'a aud st Louis IL about to supply the
West with currency in the shape of drafts OF small
denoaira,ions drsen by the Philadelphia house the
St Louis house in favor 81 he New York house" Now
the leading domestic exchange house In Wall street.
ferree intend "a a. nothing OF ,he kind does not
iuterd to depart in the slightest degree from its lsgiti
mnte lre Ct busins has do With fur.
,ibug currency for the West, any other part Of
he county than the schah Of Persia. They have bssn
for years largely engaged IN the domestic exchange bu
tiness, aud possess aad0ub.od and Unlimited credit
aud IL iohsby the only house Ia the that IL
able to draw many points and is dispossi to
draw in such small amount The facilities thus az
frded TO the business community very great, and
duly app.oated and for drafts regularly drawn
for legitimate business purposes passing parties
engaged in mercantile pursuits go towards furnishing
currency the boute r.frs.d to are prepared to sup
ply all that Ia wanted
TIE news from Califo-ni. by the Empire City In re
lstion 20 the production Of gold is about the
that received by previous arrivals. The reports
earong the working OF the mines not so sxtrsva.
giant ~ In the early stages If the movement, and W.
therefore disposed to believe them The En-
pire City brought from Chasres $40 $50 in specie indie
pendent Of that brought by passenger 1t is reported
thar the passengers have shout $500 600 making
aggregate according TO tina estimate, So4o 900. We
know not yet how much Of this Is in gold dus. from
CaliforBs. portion Of it Ia In ooin and probably
from the southern ports OF the raoias coast
The receipts Of California gold thus FAR have been much
lesf thar anticipated and ut the rate realized this
cen, ID viii take at least five years make good the
the capital already invested by the people Of thij
country in the California trade. Thas far, we have
not received half as much gold a 90 have sent to
California in specie, and tire balance Is, therefore
90 this item slon- still largely In favor The i'm.
feet Of vcss,l reported at tie la.es. dates In
the hsrhor Of San FIsnciseo. represepts
cpitsl which &c for the present inactive and there
fore rapidly deprsciatpg Many OF the vessels which
have been en- ploytd in transporting passengers to
California will be compelled to remain there weoks
and pcrbsps monhs Tor the want 81 men TO navigate
thsn The report Of the markets Of San Francisco,
which will be found In another column, shows = very
great reduction in prices for every description msr
shspdie Frovi,ions and breaistuGs commanded
prices telo~ oost and ehlrges, and enormous losses
mus: haze been realized by those engaged in the trade
The shipments OF merchandise from the Atlantic ports
end rom Europe to California have lately been limit
ed and The probability Is thst in . few mouths bet
ter prices will rule in San Francisco. This is batter
time to send goods TO California than has heretofore
existed within the history Of the movement, and We
have NO doubt some shrewd speculAtors will avail
themselves Of IL.
The Board 81 Directors Of the Ohio and Pennsylvasis
Railroad Company, at recent meeting at Msssilon,
placed under contract trentyseven miles Of the line
in Ohio, making With the twenty three miles in Penn
tyvsnia contracted TOR in July fifty miles now under
contract The work in Ohio 10 to be paid for by the
local sub p,ons Ia the counties In which 1t lies.
The railroad distance from Pittsburgh to 81. Louis
~ be ESQ miles. about one half the tteamb0a dis
tance by the ohio and Mississippi rivers and the line
will run through the hsart Il the States Of Ohio, In
disrs and Illinois. In Indiana tho work II going
very favOrably and 1t is hoped that in Illinois 1t will
soon be- begun.
Stock Exchange.