The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-08-30
Nj ON EY M A IL K f II.


MONEY MARKET.
SUNDAY, August 20-6P p. NJ.
During the past week the stock market has experienced
several sudden fluctuations and at the close yesterday
there evidently desire the part Of holders to
alize. The principal sellers however the shorts
and the buyers those who previously large holders
Very little stock actually changed hands the transactions
having been mostly time Thistle bulls disposed TO
encourage the market has for time felt very much
the aberce of shorts At the rate the bears have been
putting out contracts for days past it will not be
long before they will be deeply involved and may then
look for animated contest between the two great
ties in the street. AS for ony serious strngency in the
money market coming to the aid Of the bears it is entire
y out of the que ston The efforts made by the banks
put up the Of interest have but partially succeeded
and they will soon lave to abandon the movement alto
gcher There too much capital aoat in the hands Of
private capitalists to enable the banks to carry out their
plans few years since the banks powerful enough
to regulate the money market as they pleased. They
could put the rate Of interest up down, make money
abundant scarce suited their ideas and the
mercal classes from end Of the country the other
were fayoraby unfayorably affected accordingly 1t
is, fortunately, not The power Of these paper
money manufacturing institutions has Departed and
whether they expand contractwheher they
tell the public weekly monthly annually what their
condition IS how much specie they have what their fu
ture policy will be There is conservative influence pre-
vailing throughout in financial affairs which
these sudden fluctuations heretofore frequent
and disastrous Fortunately We have regulator.
Money matters regulate themselves and long ndi
vdual instead of Incorporated interest is the regulator
long there is outside Of the banks power great
enough to neutraize the acts Of these institutions
long will all parties refrain from placing distractions in
the way Of legitimate Of commercial operations
cautious interchangeable policy is the only true to
pursue and if there any deviation from that ine
the banks invariably the first great cause The
they pursue is calculated to- create sudden ans
frequent fluctuations, out of which they realize largo
profits. For time they extend every favor to bor-
towers of money They afford every facility for
alive purposes and after leading along the large of
spectators for long tmeater getting them deeply
involved possible all sorts of schemes these banks not
only suddenly shut down the gate and of all supplies
but they call in all demand loans the advanced
rate of interest required is acceded to- The banks act
ally set trap to catch their customers and, like the
bghwayman, compel them to dsgorge abide by the al
Tentative About three weeks SINCE the Wall street banks
commenced this game. Upon comparing notes, they be-
satisfied that the proper time had arrived to pouuce
upon the community and compel those having call loans
topay up at pay higher rates of interest The
movement was simultaneously made and for time sue
ceeded pretty well-but not in the way desired Large
loans paid up and the banks full of money,
much so that they Offering 1t in the street at the
lowest rate of interest and glad to get rid OF it in that
way The effect Of these operations has been of una
vorable character-it has made those depending upon
these banks cautious it has created disposition
on the part Of the community, generally, to hold
themselves in readiness to meet any demand from the
banks, SO long as ahey are in their power. This
has caused a slight stringency in the money
M arket, but is imaginary than real. Parties
having heavy payments to make sometime hence have
taken the precaution to provide the in ancpa-
on under the apprehension that these Wal street banks
may at some future period make another and de-
ermined effort to paray Of
which for sometime past they have assiduousy fost
cred Having no confidence in the permanency of any
policy these Institutions may pursue the commercial
community undoubtedly feel that the safest is to
look out in time for facilities for meeting maturing
gagements. This may for a little while more
i've demand for money! than would otherwise have exist
cd but viii be oqualized and distributed The
gular operations Of trade require,
The receipts Of the Vermont Central Railroad Company
for the last three months amounted to SI6sSo against
s149so for the corresponding months in 1851 showing
increase in the three months this year Of S151l4.
The Hamilton Insurance Company of Salem divided the
following dividends among its members for the past year
third class 10 per fourth class per cent Equva
ept to 20 and 30per cent the cash ia stock compane
The Frotbug Coal Company Of the Cumberland district
re about making arrangements for large increase Of
business. The extension Of the Mount Savage Railroad
viii soon be completed
railroad is projected to be built from Mineral
Point in Iowa county, Wisconsin, to point on the I
nois Central Railroad, west Of Freepor The distance ia
between twentysjx and thirty two miles The cost is
stimated at 100000, Of which 100000 has been SUBJ
fcribed in Iowa county Mineral Point is the centre of
the mineral region Of Wisconsin rich in lead copper and
zinc; and the proposed railroad will enable it to obtain
coal for smelling purposes from the coal fields
1t is stated that the Eaton and Ham ton and Cncn-
NATL Hamilton and Dayton Railroad Companies will Il It
becomes necessary for carrying forward with facility the
passengers and freight from the Indiana Central Railroad
and other Indiana roads put down track of tho In
gauge from Richmond TO Cincinnati 1t is believed
that the Ohio gauge can be carried the principal points
in acknowledgement and Indianapolis but IL ~ is
found by experience hat 1t will be desirable TO have the
Indiana gauge put down nom Richmond TO Cincinnati
The companies ready put down track Of the Indi
gauge
Within the past Two years immense amounts Of silver
coin have been shipped from this country to Europe
principally to france and the premium has been as high
in this market certain coins MS five and Elk per can't
Ia,ly HE demand has been comparatively limited and
tic premium much rcductd II however appears that
new mark. exists silver coin and the probability is
that an nctiye d.msnd will again spring up and the pre-
MUM ngain The London Times Of recent date
rays -
since the recent discovery Of gold in Australian
Colon.s, hut particularly that thousands of
frtuLc rockers ARE hard at work In the diggingan
No EssrIcSS IhcCV1os NaNt oxpor,nccu ~
emieTants from the want Of n small circulating medium
In purchasing the various articles they requrc-eher
fer fed raimen--as Hitherto they have been Obliged
10 INV geld ~ rregt Ict 10 and profit To