The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-10-26

days, been very large and gssd prices have been OBJ
tanned for productive property Capitalists have hsa
enough Of fancy stocks and such trash andsrs invest
ing their money where they satisfied IL will be
safe People have become surftsd with fancy railroad
stocks which may be worth . few dollars to day and
netting and have turned their attention to
productive property, such cannot be deprecated By
extravsgsnt directors and ignorant managers Real
estate bonds and mortgages United States and good
States stocks after ALL the only safe Investments
and glad to that capitalists have got their
eyes open at last and govern themselves accordingly
The European news has had no particular effect upon
the stock market According to tsegra phic dss-
patches there had been slight decline in quotations
American stocks in London Money wa, very abundant
for commercial purposes and the rate Of inte
rest ruled at the lowest point. The market
hrm without much activity but the principal feature
Of the news is the unexpected and enormous advance
in quotations for cotton, and the immense sales In
Liverpool speculation The sdvsnoe in prices, for
the week ending the 18th Of October equal to about
enc cent pound, which is greater improvement
for the length Of time than has been known FOR
many years previous Such great and rapid advance
is, We fear but temporary II Is to great extent upon
al artificial basis and must therefore soon be partially
lost. The sdvicss taken out by the Europa are re-
ported as Icing the Of the excitement in the
ligsnce from the cotton growing section of this
try than operators in the Liverpeo market had whom
the Europa left on her return voyages and we can
therefore Judge more correctly In relation to the pro-
babe yield of the crop now coming to market. The
season, thus far has been almost unprecedented. We
have not yet had frost in this latitude the pro-
liability Is that it will be very late before the cotton
growing section Of the country will be visited with
Killing FROST This will not only give the latest bolls
han 70 st,,ra buf tbo nj,
unity to pick their fields cleaner than they otherwise
could The advance in prices in Liverpool reported by
this steamer, will tend much to increase the ag
gregate yield this year, thing know Of IL Will
stimulate the Planters to gather every pound, and
keep their negroes picking SO long as there is q
boil lef.. When prices low, the planters in
different about picking clean, and frequently leave
asrge number Of bolls in every eld bat when prices
are high 1t becomes object to every pound;
and whether prices are up down, therefore makes
great difference in the production During the plant
ing season. high and low prices have very great in
1uence upon the movements Of planters If prices
rule high, they put every foot OF aud they cult
vate into cotton whereas ii prices ruo low they de,
vote Of t. land to the cultivation Of corn and
breadttufs generally. Whatever might have been the
estimates Of SPECTATORS brokers' manufacturers and
planters, Of the probable yield Of the present CROP
month since or even just previous to the receipt Of the
IN'pPSs au'iceS tDey musS mark tnem al up, they
must add at least fifty thousand bales 10 the highest
amount named by any one and when the cotton specu-
lators in Liverpool have posted themselves up to this
date, or soy to the LIST Of November they WILL with
out doubt, experience very great revolution in
their views relative to the extent Of the cotton crop
Of the United States for the year 1s49.50. What
the effect Of this, upon prices will be, do not
pretend to predict. We leave that for tbs present.
much depends upon the extent Of consumption
both at home and abroad Tsat the production this
yesrIs;9 and 50-wi be greater than has been gene
rally contemplated, have not the slightest doubt
while consumption may vary most materially from
what now appears probable. There many things
calc uated 20 check consumption, which have nothing
to do with the production that at this moment the
former Is likely to be reduced than the latter
For time past the consumption has been at an
snormou, having averaged for the nrst eight
months Of the present year ASS bales against 3s11s
bales during the corresponding period in 1913 and it
may continue large or even increase. The addi-
onal consumption for the FIRST eight months OF 1s49 IL
equal to Is. 600 bales, compared with the time
last year and should IL continue at this rata for the
remainder Of the year, the aggregate increase viii
amount to s7S,oc0 bales. This Is a very important
item and Is equal about fifth part Of the average
crop FOX some years past.
Tie following appear ed In small part OF edition
this morning, but taken cut to make for the
foreign news
Tho annexed comparative statement, exhibits the
condition Of the Bank of Virginia and branches the
LIST OF October, in each Of the past two years.