The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-10-07

been = better time within the past Twelve mousns
to purchase stocks than the present The money market
has not been tight throughout, represented 1t has
lately been difficult raise monsy fancy stocks but
on and other good stock securities loans
have been easily goaed at the usual rates Of interest
The banks been called upon for their regular
terry statement and they will report their condition on
the sth Of September last. There Is therefore,
ccssy part Of these institutions 10 put their Affairs
IN order FOR exhibition and may look for
expanded movement. The balance in the Sub-treasury
will be largely reduced and that bug bear removed
great many goods for the early spring trade have
Gently been imported which has added considerably to
the receipts at the Custom House. and made the balance
greater than for the The receipts day
amounted TO $4,000 co payments, S3is SOL 43--ba.
lance, 50 96sle0 81 The reduction within tho past
week has been more than half million Of dollars De.
fore this month out the imporatons will be comp
lively small and there will then be plants about
the accumulation Of specie in the Sub. treasury
II il almost impossible under the existing state of
financial alars throughout the world for ths money
market to remain tight for any length Of time. The
changes from day to day in fancy stocks cannot be
sdtred fair criterion yhe OF these
entirely local and have nothing to do with the nn,n
cisl Of the country at large The operations
Of few brokers in Wall street, in fancy stocks have
very little If any, influence upon commercial affairs
Union is in highly prosperous condition. Confidence
has no. been impaired in the slightest degree and We see
nothing IL the perspective cacaat, to cas. any i'm ma
dato apprehenAion II true that credits have become
pretty well expanded ard immense amount Of capital
has been absorbed in our internal improvements We
have sent abroad millions upon millions of railroad
bonds, and other bonded securities, which will
draw from semi annually large for the payment
OF interest We have received the proceeds Of these
stock securities in merchandise Of a kinds which has
been consumed Railroad iron has formed very impor-
tant item in our mporatons lately but has served to
extend our means OF communication, and BY opening
markets for the staple products Of remote sections of the
Union given an extensive population facilities FOR enter
ing largely into the consumption of foreign
&c Capital udciously expended In developing the az
ncusural resources OF the country will always give pro-
ductive returns If cannot command sufficient cspi
tai at home and must go abroad for the snews of pro-
gress it does not follow that ruin will overtake us in the
midst Of apporen prosperity and We are not disposed
to look upon the system of internal which
has 20 long existed foreign capital to an enor.
NOUS amount has been required to give it strength and
aDiuty rs at all calculated to bring ruin and bank
rupHy upon us Isolated works may prove IN
productive, and individuals directly engaged NAV be
serious sufferers but the sections Of country through
which these pass and the people of these
sections are benefited less by their construction
Periods Of scarcity and tghtness in the money market
VIII OF course be experienced and occasionally failure
may take place Quotations for fancy stocks may fall
OIL rapidly enough to produce panic among holders and
many other difficulties and entertainments may from
time to time arise but the progress and prosperity of
the country viii steadily 60 and aggregate wealth
increase with wonderful rapidty. The magnificent
palaces and warehouses which have within the past Eve
years. been erected in this and every other city In the
Union, are fixed on q firm foundation and whatever may
become OF those who constructed and originally owned
them there they adding much to the wealth and
of the cities in which they located II
foreign capital builds up cities builds our railroads
&c. it makes difference They cannot be exported,
and We have all the be neGt of them.
The Firsmens' Insurance Company has declared q
semi annual dividend Of two dollars per share
The Warren Insurance Company of Boston six per
cent
The steamship Africa for Liverpool to day carried out
S6s4 62S in specie There was an active demand for
sterling exchange this morning for by ths
steamer and rates previously quoted were fully main
tsiDed.
The earnings Of the New Haven Railroad COMPANY for
the month Of September 1862 to S72 oOs 40
against s62Sl IS for month in 1851 aud
for September 1850.
The steamship Asia at this port from Liverpool brings
any point Of view is not at all interesting or important
The markets remsip without change Cotton was firm at
previous quotations with active inquiry from export
Ris sra spectators Ad,ics from this side relative to
The growing crop anxously locked for large yield
IS cesiieo but not expected. crop greater than the
last viii be required TO meet the increased
wants OF the trade There is nothing in bresdtu
The harvess have been gathered in good condition. and
the yield has been it is estimated full average. In the
manufacturing districts great activity prevails and the
Interest known have been Ia
more healthy condition. In the financial world all was
quiet and Quotations for all kinds Of securities
were firmly maintained without much speculative feel
rg and all the Indications decidedly in favor Of
continued abundance and prosperity.
Occasionally quoted by the Board Of Brokers tho
ARE CT somo new mining Stock and at prices too far be-
'end any value they by any possibility possess.
These stocks created principally for speculation and
therefore put upon the market whenever opportu
,i'y The really good promising mining stocks
ire heard vey little OF in Wall street They are mostly
held parties who have fell confidence In their ultimate
value and by these who able to carry what supplies
hey may have. When they upon the market 1t will
be at prices inmeaurab in advance Of those now ruling
They will be kept back until the resources OF each com
pany developed. and then they will command great
premium. If the market was glutted With them now,
they would coon become runousy deprecated, and the
pubic mind much prejudced against that class OF stocks
generally may Therefore be taken for granted that tho
mining stocks which occasionally put upon the
market q poor character and possess real value
present prospective mining company cannot
be made productive in day year It requires
lime, great economy OF management, great
oerienos ard series Of fortunate circumstances,
o 6cvtlope the resources Of any mine and
wen moderate dividends Notwithstanding oil this
'sral companies have recently been formed which pre-
end TO have prospects Of the most aaterins character
and in the face Of such pretenon put the stocks repre-
'enting these companies upon the market at prices bat
III tie b. low the nominal par value Of the share, Whether
thee stocks find bone de purchasers at the quoted prices
or not lie question. 1t is our impression that they do
not and that the object the orgnators SPECTATORS