The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-08-13
NONE Ark Err.


twih be by the report of salss at the Board OF
Brokers that there is very little doing among stock
Spectators in Wall street We have never uoticed
less sctiYy at any season Of the year. The fact is
there are no buyers in the market and many large
holders out Of town waiting tho movement of the
waters We cannot look for any i'm mediate change
way be other. 1t will be found. upon the return Of
operators from the country and the opening of the
fall IOign, that there win be dozen sellers Of
isncy stocks to one buyer, and the result OF such
state Of things can be easily imagined. During the
speculative excitement last spring repeatedly
marked that the time to come when there
would be more sellers than buyers that il the
easi6it thing in the world to buy fancy stocks
or anything else, but the rub would come when
every wanted to sell. Upon the opening OF
last springs buLness most Of the outside specu-
lators were bare Of stocks. They had been for
sometime previous to that, large sellers at the
S,precating prices, and by the time the market
touched the lowest point the brokers In the street
lad come into possession Of of the unproductive
guaranteed class of stocks than they had held before
for long time. The spirit OF speculation, sftor
the spring opened rapidly Increased and the abund-
ant supply OF capital seeking investment gave great
impetus to the movement. and the brokers having
such large lots of fancy stocks to SELL purchased at
prices ranging from above those current down 20
the lowest pont) that every effort made to draw
in outsiders and fortunate for the holders they sue
ceeded !. Not that the holders made money by the
steady improvement in prices for they had paid high
prices for the bulk of them but because they we're
anxious to relieve themselves OF such an enormous
dead weight. Outsiders at fret purchased moderate
~ but prices became inflated they took hold
ravepousy and at the top of the market thy went in
deeply For long time after the maximum had
been reached, there was a pause in the market,
and outsiders began to get impatient. The rise
had not been great the street spectators assured
II en- would he realized and for time they held on
with the hope that prices would take another start.
which would enable them to get out at profit. In
this they have been disappointed and instead Of the
improvement looked for, prices have huctuatsd be-
tween decline varying from FIVE to fifteen per cent
Apprebenve that prices would fall back to the
ing point aud having in reality confidence in the
value of the stocks as permsnsn Investments many
sold out at LOSE and probably will not for time
time Mt least involve themselves again in any fancy
stock speculstons In this way large lots of these
cuiies have found their way back into the hands Of
brokers' and 1t is our impression that at this moment
the amount Of valueess worthless stocks, not only
held but owned in Wall street, 10 greater than has
been known for years before.
As extraordinary asit may appear the buyers and
long sellers Of fancy stocks this year have not made
money. The bears have, in almost every instance
b, for the want of sufficient foresight take
advantage Of the lowest dip Of the Market to make
themselves long their contracts; but the principle
which. at u at time and has since governed them in
their operations, perfectly sound aud which,
II strictly adhered to. must not only make up all
previous losses but ill their Golfers to the brm The
bulls have not made money, as general thing, for
most Of them paid high prices for the bulk Of their
stocks and had to carry large portion Of them eight
ten and twelve months before they even realized ORR
einsl cont Those sold below cost will probably
than effect those sold .. profit and the result Of
their prins operations has been the accumulation
Of lar. lots Of the class Of stocks at prices
ten and fifteen per cent above those paid at the close
Of last winter They will dnd this most unfortunate
pc.ition. from which they will ind IL dfcult TO
extrcste III. mselves without serious losses 1t
hardly be expected that any Spectator will
ter the market as purchaser at present prices, and
without purchasers, how will present holders get rid
OF the enormous dead weight they compelled
to carry
The news from Europe, commercially, Is adorable.
Cotton is up and corn down but cotton Is .
inpoI tsnt article Of export than corn, better
put up with . depression In the latter than In the
former The political accounts are important and
highly interesting The result Of the hostites which
have CON menced In such . sanguinary manner, be-
t~e,n u. nmsrk and sehlesviE Holstein, IL q matter
Of much speculation In commercial circles. II may
Involve all the great continental powers In general
var, and keep European Affairs in unsettled con-
ditsn for years.
The gross revenue from duties imports into the
United States for the year ending June 30, 1850
s5e7oo 600 This Is equal to Importation Of nearly
tive hundred millions Of dollars Gross revenue for
year ending june 80, 1870, s3l 2o2os7 year ending
June 80, 1s4s, i33, 22s1ii.
The receipts ut the once OF the Assistant Treasurer
Of this pert o-dsy, amounted to f92 $40 10 pay
ments, s1os711 %; balance, So 0s, $50 70.
Among the imports from Baltimore during the past
week, note 5000 bags Of coffee. and valuable
assorted cargo from Liverpool and another from the
Pacific The principal articles Of export $50
Lhds OF tobacco Avn bbis Of -four and 90 tons Of
coal the latter TO San Francisco The total vslse Of
foreign exports, during the week ending Thursday
evening, vas sl65.069 %
Arrangements sre In progress for the organization.
under the General Banking Law Of New Jersey Of
new task In Newark to be called the Newark City
Rank" With a capital Of $4,000 This Il, we believe,
the only bank organization, thus far under the new
banking Law Of that State
The quantity and value Of cotton exported from Mo-
bile to foreign porte for the mssth q Juy and since
the iu ofseptsmber. 1870, we're Is annexed
CossnrRcr OF MomLr-y,Iur 90 Errosr.
Bsi,s Pounds. Tsfus.
To Great Britain in Ame-
risss ,ss,.l. ...'....,. 1925 sNo7a toss.,i, g
To Great Britain, In
British do........... ISIS 1a3.67s EsHtG
To,,i to Great britain. N.ps 9ees.ep si.se7.Esfl
ohsr f's.isn Lcr... in ,~o e,rs ..rs,,