The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-03-28
COMAERCIAL AFFAIRS.
HONEY MARKET.

HONEY MARKET.
Tuesday, March 27-6 p. M.
This has been Q horrible day out OF DOORS and
Wall street has been nearly deserted The bulls have
suffered some In its effect upon quotations for stocks
and . few days more of such weather would depress
prices several per cent At the fret board the sales
were only to moderate extent. Treasury notes fell
off = per cent Harlem, u; Long Island, a; Nor
wich and Worcester, q Erie Railroad advanced q,
and New Haven Railroad, "a.
At the second board, Treasury notes declined 4;
Hsrlem, u; Erie Railroad, u farmers Loan, x;
Canton Co Il; Long Island, u; Reading Railroad,
"a The transactions In Harlem, at the second board
were large. We have not experienced q more diss.
reeabe day during the whole Of the past winter than
this and the depression in fancy stocks Is attributed
principally to the influence of such weather upon tho
market.
The California gold fever Is working up again. The
recent advces from Panama and Chagres and the re-
cepts of gold at the different ports within tho past
week. amounting to nearly one hundred thousand dol
Jars, have given impetus to the movements of emil
rsnts and raised the hopes Of those who have sntic
large mportsons Of the precious metals from San
Erancirco The times hand when accounts must
be received from California Of the most definite and
decided character relative to the supply OF gold ready
and waiting shipment, and the product Of tho mines
Our advioes from San Francisco are than three
months old December 25 being our latest date-and
know not what may have transpired in California
In that time how much geld may have been extracted
from the soi and shipped to different parts of the
Werd. Tho most glowing accounts will doubtless
reach by the Northerner from Chagres now nearly
due and 1t would be we'll for the Wall street bears to
keep themselves In position to take immediate ad-
vantage Of the news whatever It may be- The bulls
safe enough.
The most extraordinary feature connected with the
produce trade in this CITY, at this moment is the effort
made by clique Of specuators aided by most Of the
Wall street and many country banks to hold bread
etufs for advance. At any other season, or soon
after the suspension Of navigation, this movement
might be made with prospect of success; but 1t
this time 1t appears the most insane operation imag-
nable. With stock Of flour In this market greater
than has been known for 1t the seasonwith sup
plies rapidly accommodating at the principal points Of
the interior, and navigation about opening, that
these supplies will be in markets-with very
limited foreign demand, and prices abroad much de-
preseedwe cannet conceive upon what basis calcula
lions are made for advance in prices above those
now current. Our banks both city and country, are
full Of the paper Of houses who engaged in this
and from the present appearance Of things
heavy losses will be experienced, bankrupt
ies produced, and the banks serious sufferers The
tent to which the banks have become involved in this
mOVomout 10 Suo PruCiPHA cauS0 OA tu0 bCHrClCy OF
money and the tghtness Of the market Our accounts
from the West report the stocks Of gram waiting ship
ment to be larger than previous to the opening Of nav
cation in any previous year. and the probability is that
prices will rule lower in this market after the
opening of the canal than they have for several years
A few weeks will settle the question and In the
time purchasers will doubtless keep much as posi-
BILE out Of the market The surplus Of bresdstus in
The country is too large to be controlled by epecuaor
aided By any number Of banks, any amount of bank
credit.
The annexed act Of tho Legislature Of Now Jersey,
being supplement to the act to incorporate compa-
ny to form artificial navigation between the Passaic
and Delaware rivers publish for the benefit those
who may be large holders of the stock and do not ap
pear holders the books of the company and who
therefore, have not received from the management
copy Of tho act. meeting Of the stockholders has
been called tor Monday the I'd of April the election
,f directors and for the purpose Of voting for the
oeptanoe refusal Of the supplementary ct given be-
low whom al those Interested may have OPP ortuny
to express an opinion relative to the matter.
MoRRs CANAL AND BANKING CoMrANY-SUrrLEMEN-
AcT.
Sec i. That the said company are hereby author
zed and empowered to reduce the number Of shares Of
their capital stock to ten thousand two hundred aud
nifty shares which shares shall have the same nominal
Sec q That shall be lawful for the said companyto
Issue eleven thousand hundred and atty shares
new
such rates of dividends the board Of directors
prescribe said company to perfect their anal
of subscription for the additional stock authorised BY
this act and said books shall be kept from time to
time until the whole amount required shall have been
nubscrbed ten days. previous notice Of the time and
place Of opening said books having been given
SEQ. 4. That the transfer books Of said company
books Of subscription and the stockholders of tho
asid company whose shall then be snding ON
tho stock books Of said company, shall have the excu
ve right subscribing for such additional stock dur
Ing first three days from the opening Of said books
and more sha be subscribed for BY such stockhold
ora than The sum hereby authorized, the may be
among the stockholders 30 bscrib'ns 40
odn 70 tn: 81 s.ooa TN ,to"
company; and the whole amount OF such additional
stock shoud not be subscribed by the stockholders OF
the company the board of directors shat! then be
to receive additional subscriptions from time
to time from stockholders any other PERSONS until
-'the whole amount Of such additional STOCK snail bs
SEQ s. That the board Of directors shall prescribe and
announce with the proposal Of such subscription the
time and manner In which the payments for suca ad
.ditionsl stock shall be made. -
Sec. g. That the foregoing provisions OF this acS sns
take effect when. and not until the same shall have
been accepted the ders Of the said company;
and the purpose OF obtaining such scc-pssncs the
board Of directors Of the raid company shsl call meet
ing Of the stockholders OF the said company and shall
notice Of the time place and object OF said meet
ing TO be given for twenty days, BY advertising the
rsme in the manner specified In section three OF this
act that the transfer books Of the said shall
0rsss n' At shh mesus the d o.
nha be entitled to vote, either in by proxy
according to the number Of shares standing in thsr
names espectively the stock books each sh Of
stock entitled to vote and II the holders of
1vo-th rds Of the stock represented In suoh voting
conf of the foregoing cnectmen,s this bill thsn the
same shall take effect otherwise the shall be In
operative; provided, nevertheless that at any time
within one year from ths passage hereof, such vote
shn be obtained in the manner herein prescribed the
said fore provops sha tax effect, and that the
signed and sworn to by thsm and filed in tho oios Of
Abe Secretary of State setting forth .uch ac;sptance