The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-11-17
FINANCIAL AND COMMERCIAL.
II O N X M A n K e II.

WEDNESDAY, Nov. 16-6 p NJ
The bears in better spirits to-day and the bulls
eorrespondngy depressed At the first board Della
ware and Hudson declined per cent; Potos Lead, \;
Canton Co 4; Nicaragua, x; Cumberland Coal III Erie
Railroad, x; Reading Railroad n Parker Vein, n; Nor
wich and Worcester X; Indiana Construction Railroad
Stock, Norris Canal advanced y per cent? Florence
and Keyport, Nj Crystal Palaosl Railroad bonds
freely offered and sales to extent effected at
slight In prices We notice several import
ant changes In the street In the opera of individuals
The bear interest has evidently been reduced not only by
the maturing of contracts but by the withdrawal Of
tain individuals from side of the house. and their ap
pearance the other Parties who have steadily pur
sued bearing policy all through the greatest depression
out bulls, and purchasing for RISE They
probably have well weighed matters and things and their
conclusions may be just and correct but must differ
from them and all others who believe that financial affairs
have been relieved from the difficulties and smbaass-
ments which have recently appeared. The actual
is deeper than Is geae- ally imagined The credit
system of the country has been, and s is much in
ated and its ramiacatons extend far into the opera
tons of all classes, that any arrangement must be
felt the remotest section Of the country The fast
that banks Of this city have within the past three
nhs contracted their loans and discounts about four
teen millions Of dollars and Increased their specie basis,
Is no evidence that the contraction over that the
banks will soon commence expansion. The contrac-
ton will for time be sustained If it does not become
still greater The banks by means in ng posi-
on with all the liquidation that has been going on and
1t will require the utmost caution the part OF bank
managers to preserve even their present equivocal
strength The commercial classes enormously extend
cd in their business operations and nothing short of
general and steady contraction OF credit throughout all
classes Of mercantile men, will suffice to place Hn ancia
affairs sound and solid basis The ups and downs Of
fancy stocks Influenced BY local matters than
any other way Other causes of course have their eect
but the bulls and bears fancy stocks in way Pc
cular to themselves The money market is not always
regulator Within the past ten days. the fance
vanced and per cent in the face Of very stringent
ke when money worth full per cent month the best
business paper and difficult to get st that This advance
however, Is merely nominal II Is all among certain
ques but enables outsiders who desire TO realize to
do at high prices In this way the street daily ncreas
its supply Of stock and the carrying trade becomes
pretty extensive. would be exceedingly gratifying to
to be able TO things connected with the financial
world in brighter light but it Is entirely out of the
question. There Is of Disgusting the fact The f
ture locks gloomy and those who most experienced
look forward with good deal Of apprehension. Holders
and buyers Of fancy substantial paper securities
may occas naly realize CLEANS Of sunshine but dark
heavy clouds must close in upon them and for time
shut out all hope 1t will require months OF liquidation
and contraction to place all right again. and If we get
through with nogrsater erls it will be than We now
expect
After the adjournment Of the board, the following
stocks were sold at auction by A. II. Muller