The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-04-20
MONEY MARKET.

to-day Erie Railroad second mortgage bonds par
ticulary active the sales amounting to nearly $4,000
at the first board, at advance Of u per cent ON
the prices current at the close yesterday Erie Rail-
road stock the most active fancy on the list and
advanced y per cent. The transactions in both Of
these securities principally time United
States 6's, 1867, advanced per cent? stonngton u;
Reading Railroad, II Hudson River Railroad, X; Ini
nois Bank Il; Morris Canal u. Long Island fell Oh 4
per cent At the second board the market compa-
ratively quiet Reading Railroad advanced per cent.
Erie Railroad, s. The operations appear to be con
fined almost entirely to the regular street speculato
outsiders continuing BY certain movements.
in the machinery, the bulls put up prices, with tho
hope of drawing in operators to relieve them Of por
ton Of the unproductve fances, which have lately
been rapidly accommodating their hands
The receipts at the Office of the Assistant Treasurer
Of this port, to-day, amounted to sl1011s Is; pay
ments, S54,46i 4s. Balance, S47l75 -.
The amount Of domestic cotton goods exported from
Boston, in January February and March, $3s529o,
against s22O,l1 during the time in 1s49
The city Of Memphis has subscribed $500 600 to tho
stock Of the Memphis and Charleston Railroad Com
pany.
Holders of cotton anxiousyl ookng for later adj
vices from Europe, particularly. from Manchester.
Great difference OF opinion exists here relative to the
ut ure Of prices but 1t he's, from the Ars
ment short crop appeared inevitable, been our
opinion that prices must advance great deal beyond
present points 1t matters very little what
or two steamers may bring and the reports
Liverpool for week two later than those board
the America now nearly due just likely to show
decline as advance There is fact pretty gene
rally known this side of the Atlantic, which is a
short crop and in the face that il is folly for the
spnners of Manchester and SPECTATORS Of Liverpool
to carry on the contest with holders this side
There been season in the commercial history
Of this country when have been better able carry
cotton crop than this and the lords Of the loom
England will soon find that they. have made great
mistake in their efforts to force SELL They have
heretofore succeeded in depressing prices for this great
staple product whenever they have made effort
and have supposed that the power still in their
hands. They will soon discover their mistake; and II
they do not have to psy for their temerity, will
give up, and let them rule prices hereafter without
opposition.
The three great regulators Of prices for cotton in
the Liverpool market Barring, Brothers, q Co.,
Brown, shplcy Co., and Fielden, Brothers Co.. the
last exercising the greatest influence and in ability
decidedly superior TO the others Their agents are
found in every southern port in the country and as
ii class remarkable for their fidelity to English
interests. The Feldens tho largest cotton
facturers in the world. Their mission business in
Liverpool immense as it is is subsidiary entirely
their manufacturing interest at Manchester. These
houses ha ruled supreme in the cotton Market and
have put prices for the material up or down at
pleasure This year they have received a check that
will learn them lesson Their sceptre has departed
and from this time forward prices will depend more
upon supply and demand, than upon the dictum of a
combination Of the immense wealth of few houses
in Liverpool. What we have been long and so
suxously looking for upon the point of being realized
The cotton crop hereafter will be controlled this sdo
Of the Atlantic and New York will be the great dis
tribulnc point Of the material instead Of Liver
pool. The consumption Of cotton in this country has
become great, and is progressing with 80 much ra.
pidity, that prices for any surplus that may have
for shipment, will not depend entirely upon the whims
and eaprices Of the spnners Of Manchester The mar
kets OF Great Britain will not be as in past
years, and shipments become direct to the
points Of consumption In Europe, shall be better
able to establish and maintain prices. Our manufac.
lures already consume half much cotton as those
Of Great Britain the ratio Of increase here Ia much
greater than the other side, and the production
the raw material cannot keep pace with the increase
in consumption throughout the world We have
shown that, under the favorable auspices crop
Oft million six hundred thousand bales rs rs much
be picked, and the annual consumption already
reaches that quantity. 1t, therefore, appears plain
that the movements In the cotton market henseorth
are likely to be highly important and interesting
The course pursued In previous years by the three
houses above mentioned, has been adopted this but
not with equal success; in fact this year with defeat
cut and cut defeat, which win result in q complete
rou The policy heretofore has been to let prices up
In the fall to bring the crop from its recesses to
Increase the supply as rapidly possible In the ports
and determine at the earliest moment the production
for the yecr As this operation has had full
effect, and the extent Of the suppy IL known, the
reverse movement Is resorted to- for the purpose of
depreentng prices to enable pnners and these large
houses TO lay In large stocks All kinds Of reports are
circulated relative to the crop, and returns showing
any deficiency are ridicued and statements to tho
contrary put forth, fasehoods OF every grade uttered
by the mOst honorable minded mon In the United
Kingdom, to deceive holders and small spinncrs. To
carry cut their assertions they sell freely in the LIVER
pool market, while their agents here are buying all
they can, without raising prices. On change, these
housss resort 10 every Kind Of suberuge to convey
the impression that the crop will be much larger than
believed They talk Of adviccs received from their
most reliable correspondents. that the crop is
sure TO lie 100000 TO 400 600 bales In this
way and by the most dishonorabic, despicsbls
means- they almost Invariably succeed In brcaking
down the Liverpool market, knowing the effect Of
depreciation in prices there upon the markets Of tho
United States This game has been practi.d year.
and the energies II the three houses above mentioned
have been enerted 20 their utmost TO break down the
markets Of this country, that they could lay in
fnn supply cf the material for spinning aud for
pooulation All, however. has been OF avail Hold
ers here have been too well posted up In the
mand Of facilities for carrying cotton, to give these
houses the slightest chance Of succeas; aud de-
pending upon future purchases for supplies Cor
cturing purposes will pay dearly for their procras
naiion.
II is the impression In England. produced princi--
paly by the statements Of the great speculator that
the crop this year will reach COO bales M least
md that the Yankees are humbuggng them by re-
porting crop Of only 2o0o0co bales. They believe
hat have larger supply Of cotton than represent
3D. that We are holding Il back to put up prices anc
hat - only necessary 70 keep quiet 20 keep Of
The market TO force holders here disgorge In all
his they are doomed 20 dire disappointment The OBJ
nney Of holders here sstonishcs the great capitalists
~ Liverpool and the large spinncrs Of Manchester,
md voil may fer II Is feature connected With this