The New York herald., 1849-12-08
COM N ERCIAL AFFAIRS.
MONEY MARKEY.
Friday, Dec. 7-6 r. m

Friday, Dec. 10 p m.
Upon the opening of the market this morning. there
decided indications of collapse in the fancies,
and nothing prevented it but the arrival of the steam
hip Crescent City, from Chsgres with about eight hun
dred thousand dollars worth Of gold dust This was
great card for the bulls and they made the best Of
t to sustain the market. At the first board to-day
United stateS 6s 1867, fell off u per cent; 1862 a;
1868, u; Penn. 5's u; Erie 7's new, H; Harlem, a;
Erie Railroad, "; Reading Railroad, n: North Ame-
rican Trust /; New Haven, u; Morris Canal q. In
diana SIS advanced u per cent; Farmers Loan, a;
Long Island, u. Soon after the adjournment of the
first board, the Extra Herald made its appearance in
the street. and created considerable excitement among
the bull speculatos and they able to give prices
for some Of the fancies another galvanc touch. At
the second board Harlem advanced "a per cent; Read
ing Railroad, q; Farmers Loan, u; New Haven Rail-
road ~ United States 6's, 1853, fell of q per cent;
Canton Co., q, and Erie Railroad. u. The transsc-
lions in all the leading railroad fancies at the first
board, were to enormous extent the bears making
contracts on time tor dozen shares where they,
bought one for cash. The cash operations have
for some days past, been only to moderate
extent. For government and State stocks the
demand continues limited, and prices have been
steadly depreciang The market for for the fancies
is waverng and the complexion of things this morning
was rather unfsvorable for spectators for rise
There is not the slightest real foundation for the ad
in prices already realized and 1t has been pro-
duced entirely by the bears having sold themselves
short, and being obliged to change their position
porariy fro sellers to buyers This has had the ef
feet reported in the daily sales and has doubt been
of vast service to outs ders in giving them spportu
nifty to realize 1t is impression that many outside
operators, who have realized at present prices, have
slept much sounder during the past three four
nights, than at any time within the previous six
months.
The receipts at the onse Of the Assistant Treasurer
Of this port to-day amount to $s0O79 Is payments,
$s3,l62 20 balance, S3eo5,l4670.
The receipts of the Baltimore and Ohio Railroad
Company for the month Of November, 1s4s, amounted
to $146I4 66 against 1921 s92 TO- for the correspond
ing month in 1S4S, showing increase for the month
this year, Of S24, ,2s1 SO.
The Crescent City, from Chagrss brings enc month
later intelligence from California She has on freight
about eight hundred thousand dollars from Chagres;
how much Of this comes from San Francisco, or what
portion is California gold dust, have means Of
ascertanng at present. The passengers board 1t is
tad, have large sums. The accounts from California
relative to the production Of geld do not differ mate.
rally from those received by previous steamers. 1t 10
estimated that there about eighty thousand peo-
pie among the mines most Of whom digging with
more or less The average product per head,
too high, judging from the comparatively limited ship.
ments Of gold DUST The expectation of gold dust from
San Francisco, has not averaged thus far-November
3D. 1s49mors than half million per MONTH far as
judge by the most authentic returns received
and 1t appears to us that II the average product
as large as reported, the shipments would have
been to . much greater extent. Eighty thousand
miners at average of dollar per day would
produce than millions per month, and at an
average Of Eve dollars per day, would give an az.
gregate Of twelve millions per month. The state
ments therefore relative to the production must be
very much exaggerated, or else the gold remains in
the hands Of the dgger We have doubt that large
amounts Of gold boarded by the miners but we do
not believe that the quantity mined is anything like
that which the reported average product per head
would come to.
Is estimated that about 500 vessels had up to the
Let Of November, arrived at San Francisco, from the
United States and Europe and that ct least 900
people we're at that time in California The average
cost Of OUTFIT for each person. be than $780,
which makes an aggregate Of S2o,ooo,oOo. IL will cost
average Of at least $500 per for each TO live
This amounts TO $50 900 900. This makes total Of
fboo0oO0o for the bare outfit ana provisions for
year The 500 vessels which had arrived at the latest
date and the 500 on ths way, worth, an aver
age about $4,000 each, which $40 900 ooo
The time Of each individual we eetimate to be worth
on an average, s2oo-tota $40 100000 Grand total OF
outfit cost ofving year cost Of vessels engaged In
the trade, and value Of time one year, $50 o0oo oOo
This moderate calculation the actual outlay and
ABSORPTION Of capital up to this time will probably
amount to full 800 600 900. As an Offset this we
have thus far received about six millions Of dollars
(s6oOooco) In gold dust from California and the whole
Pacific coast II will be perceived that there is still an
enormous balance against California and that It will
be long time at the rate already realised before we
thall receive the expended, to say nothing
about profits IL Is impression that most Of those
engaged in the trade would be satisfied with merely
the cost of their shipments Most Of them have aban
donsd all idea of profits and many Of them will never
realise cent the charges such freight, storage,
Sc, will eat up every mill Of first The only pro.
duct Of California 20 pay for this immense amount of
property Is gold At present u has other resource
and we know Of none but Its minerals. It Is nova
little than twelve months since the emigration to
California commenced and there has never been kno sn
In the history Of the world, such ovement as ha.
been presented in this. Independent Of the hundreds
Of vessels which have departed from all parts Of the
world for California, we have nearly a dozen Of
The finest steamships in the world regularly employ.
ed in carrying passengers and the mail between
this pert and San Francisco, via Chagres and Pa
mama. Several large steamers are now on the way
to San Francisco, and In a short time we shall
have two or three on the line between this
city and Chagres. The monthly mails transported
by the mall steamers between New York and San
Francisco larger than those carried by any other
line frem this port and the time required to reach
California from this city has been reduced from six
and eight months to about four weeks All this has
been brought about in little than one year; and
" the progress at the rate during the year
shall not have facilities enough to keep up with the
demand.
II will be seen by letter from Barring, Brothers &
Co, Of London, TO the Governor Of South Carolins,
which publish in another column that they protest
against repeating the charter Ct the Bank Of South Ca.
rolna IL stated that when the loan made to the
state OF South Carolina for the purpose Of rebuilding
the city Of Charleston in 1888, the responsibility of
the bank was considered portion OF the security
Of the loan, and that the profits Of that institution