The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-05-18
coMMERcIAL AFFAIRS,


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MONEY MARKET.
MONDAY, May 1T-8P.M.
There was much activity In the stock market this
morning Several of the leading fances advanced frac-
ton; but there WAS duh feeling in the street and at
tho close prices dropped considerably There was not
that buoyancy and spirit in the market which the arri-
val of two millions of gold dust would have warranted
in anticipating, Compared with Saturdays quota
tons, there has been advance in Nicaragua
Transit Company Of u per cent; Panama Railroad,
2; Canton Company, 4. Harlem declined y per cent.
At the second board depressed feeling existed and
the market closed heavy. N j. Zinc declined u per
cent; Nicaragua, u; Harlem, a. We do not see how it
is possible for present prices to be sustained with the dull
inactive state of the market There excitement in
the streetno change in the class Of buyers-no dispo-
on among the already large holders to increase their
ine-no iuducement prospect of any fur
Their improvement-in fact, we observe of those
elements so necessary to give impulse to speculation
The receipts at the Office of the Assistant Treasurer of
this port, to-day, amounted to $7711O; payments,
$52,146 5o-balance, $3,676,061 so.
Erie Railroad does not move up or down much It
hangs heavy quotations The earnings of the road
have not been large anticipated while its expendi-
lures have been beyond estimates We must look for a
large increase in the supply of this stock the market
All the outlay the road from this time out will be pro-
vded for by issue of stock Already seven classes
of bonds in the market, and 1t would be difficult
increase the number. We understand that contracts
have already been made for large amount Of work
the road to be paid for in stock This will give greater
value to the bonded securities Of the company while it
will depreciae the market value Of shares 1t is about
time the stock of this company increased to
bear better proportion to the amount Of debt in exist
Now, six millions Of stock controls upwards of
mi IF daht l,ia will l.o Cha
There will BIO suspension of expenditure this
road and stock continues to be issued for all extern
ons repairs equipments &c. there is very Lit tie doubt
but that before many years away the amount Of
stock viii equal the amount of debt Hudson River Rail-
road has for time past been steadily settling down
The bears have been hammerng away at it earnestly
and have succeeded in depressing several per cent
The steamboat interest is at work bearing this stock not
only in Wall street but on the Hudson river. We have
not much late ly about the earnings of the road,
the effect of the river opposition but is impression
that the income Of the company has been sensibly
affected by the rate Of fare ruling the river boats
The stock mL/., however be worth what it is SELL
ing at Some Of the shrewdest street spectators feel
confident that it will advance, and touch higher
prices than have been known for months Harlem Rail
road has reacted, and is now moving upwards. The
rapid increase in the receipts Of this company should have
given greater mness to prices and prevented the recent
depreciation There is not cheaper railroad stock
the list and investment is equal to any six
per cent security in the market few months since
this stock sold at seventy per cenfour per cent
above current rates 1t daily improving in value and
will be worth par long before Eres Reading Railroad has
been pretty quiet lately Prices lower than they
few weeks since, and the probability is that
further depreciation will take place. 1t is wonder how
the market value of this stock sustained Many hold
have been looking for eighty cent Thusfr they
have looked in vain The coal traffic the road has
fallen off largely this season. and the prospect that it
will steadily decline throughout
The steamships Daniel Webster, from st. Juan de
Nicaragua, and the Illinois, from Chagres bring thirteen
days later intelligence from California and about two
millions Of gold dust The from the mining regions
continues most atterng and the prospect is daily be-
coming encouraging There is doubt but that
the gold product this year will exceed all estimates
portion of the gold dust brought to Panama by the
steamer from San Francisco shipped direct from
Chagres TO London
The steamship Atlantic brings favorable financial and
commercial advces from the Old World Quotations for
cotton had improved quotations for stocks steadily
moving upward the rate of interest had been reduced
merely nominal points and the arrivals OF bullion in Lon.
don unusually large The only unfavorabe feature
in the accounts is the decline and dulness in the
markets The reports from London relative TO the gold
mining companies of California and Australia not
atterng those previously received Col Fremont does
not progress very rapidly in his leases and sales and the
probability is that he will return without accomplishing
the object Ct his visit to London In relation to the right
power Of any individual to sell lease gold mines in
California the London Times says
Intelligence has been received the Superintendent
and Cashier Of the Custom of the Nouveau Monde Co. in
California which may tend to enghten the public to
the value of the leases and claims in that State which
have lately been vended prizes to English specuatos
The report both with respect to the difficulties connected
with Colonel Fremons title and with his powers to put
parties into Of mineral grants was such as
prevent their making attempt at present to estab
lsh themselves on his property The Superintendent
accordingly about to visit other localities to
the north OF California. where favorable positions for
works and abundance of gold quartz understood
him to exist
There interesting contest going between the
Metropolitan Bank Of this city, and the Government
stock Bank of Ann Arbor Michigan The Metropolitan
Bank has collected together about hundred thousand
dollars Of the notes of the Government Stock Bank and
presented them for redemption in con at the counter Of
the bank in Ann Arbor Michigan. The officers Of the
bank declined redeemng them in SPECIE and the agent
of the Metropolitan Bank referred to the State Trea
Of Michigan who has in his hands the United States
stocks deposited for the security Of the bill holders This
is the result Of unsuccessful effort made by
the Metropolitan Bank to compel the Government Stock
Bank keep large deposit here for the redemption Of
its bills We shall watch the progress Of this contest
with great deal of interest The public in way
be affected by it The bills Of the Government Stock Bank
are redeemed usual by every broker in Wall street
at the regular discount and the Metropolitan Bank
tinues to receive them deposit There better
bank notes in the country than those issued by
the Government Stock Bank Its name indicates the
class Of securities deposited with the State Treasurer Of
Michigan.
few days since we gave table Of quotations for
California gold coinage taken from Thompson's Reporter
These quotations complained Of by Beebe Co., and
gave them the benefit Of their corrections IL
appears that the first quotations given from 7homysos
statement -
QuoTATroSs CALrroRSiA GoLp CoIyAGE.
To the Editor Of the Nec York Herald
In to the card which appeared IN your money
article Of Friday last signed by Wall street firm.