The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-10-07
AND COMMERCIAL
NJ o N Ely Nj ARK e II,

THURSDAY, Oct. &C P. NJ
The stock market opened this morning heavy and closed
heavier. The from Europe not in the street in
time to influence the market eiths way. The movement
was therefore, entirely its merit, and the decn
caused solely from the dead weight Of stocks pressing
SALE At the board Morris Canal fell or 4 per
Canton Co., -; N J. Zinc, u; Pennsylvania Coal, IL
Long Island n; Nicaragua, u; Parker yein 1s Crystal
Palace, 10; New York Central Railroad, l; Michigan
Central Railroad, l. Erie Railroad, y Harlem l; Norwich
and Worcester, * Reading Railroad, Ia; Hud on River
Railroad, l. New Haven Railroad, a. In every instance
there has been Depreciation and the market closed
weak.
The European intelligence is not calculated to help
prices much, but the contrary, the effect likely
be unfayorabe character There let up in the
London money market. Consols had touched lower
points than had been known at any time within the past
two years. The London Times Of the 23d of September
says a The point touched by consols to-day is 10
than any since February 1850 In that month they
quoted short time at 943s just after the announce
ment the blockade Of the Greek ports account OF the
claims Of Mr. Finay NJ Paci6co and ohers the market
having been previously ened by the introduction of
Russian loan for f5 500 O00 and the Of
eme in Paris, consequent the demolition OF the
trees Of liberty The bullion in the bank at that period
eli 0O0 while it is ZIG oo0 and the rate
Of discount 2H per cent?
The position Of political ars the Continent opo
unfavoraby upon the market value of stock
securities in London that the po ition Of financial
affairs the high rate of interest ruling in the Bank of
England and the active demand existing for money from
the commercial classes for purely legitimate purposes
cannot but lead to serious endorsements il not 10
wide spread disaster The demdnd in Europe for bread
stus i'll operate very much in favor. The United
States possess surplus greater than all the great
ducing countries Of Europe combined and as enjoy
tran aiont than 1T
having of shs probably realize the great
est profits But for this hou feel the sra
gency in money matters the other side seriously
The Bank of England returns continue to show dim
lion in the of bullion The advance in the
rate of interest had not had the anticipated ani
doubtful what further would adopted to
accomplish the object in view American securities
tnued firm at previous quotations There none
pressing the market. No disposition exhibited to
buy SELL The commercial adyces by the Arabia re-
port advance in quotations for breadsturs and a de-
cline in cotton. The cotton market was dull and de-
pressed. The Manchester Guardian of the 2lst o Sep
tember in speaking Of trade in the manufacturing
districts, says
The momentary pressure continues to give downward
inclination TO prices. Without anything like alarm a
greater desire to sell has shown itself to-day was
fore observable among spinners This inevitably
from tracts running out in increasing without
being renewed With the xepton therefore, of Sled
and of fine spnnngs the value OF which Is sustained
by the contracts in bant, the great bulk of yarns
whether mule or water must be gu, te rather under
the rates that would have accepted last week Tho
entire decline from the late highest prices of all counts m
to Dos, may be broadly stated at I'D to Nd per b.
averaging about 3sd In numbers above 5O's the
giving way is much but the decline cotton Is not
more than I'D per h. in the ella of fair I'D in
that Of middlng. In low qualities the alteration Il
greater; these qualities in general however 40 poor
indeed TO large extent bad, AZ to be but ttl'
usenbie Spinners are consequently brought down 10
decidedly worse position than they occupied A short
ne ago. and in some most extensive departments that
nm opinion that the natural effect of suck a fall ia
key soon To appear in increase of operations and
We are inclined to think that rather dispos ton
operate mas shown itself in quarters to-day But
anything oil TINS kind may be only apparent or NAV dis.
appear in day or two; for the mosientary check stu re-
mains, and, with the aid Of the Turkish question keeps
awe the caution Of all parties is found in goods that
the hghtncss OF stocks and the probability Of further
the anticipated closing TIE mills ut Preston and clio
where, have caused prices to be more firmly
than might have been expected ms tho overland et
ters received last night report increase of business at
bomoay anu .acutt. somewhat improved demand for
suitable cloths experienced and little inquiry for
certain has arisen from the cause Tbo M,
kcrs OF domescs find rather better demand pronted
very much by the stoppage of many looms we re
greet to gay that accounts from Batavia show serious
progressive deterioration in commercial affairs The do
termination Of the mill TO resist the exactons now
attempted is daily becoming stronger
This is not very satisfactory position Of things for the
manufacturers and the cotton market is likely to be- de-
pres ed sometime from this cause.
The receipts at the Office of Assistant Treasurer
the port Of New York to-day, Oct. 0, amounted to
silo1o4 o3; the payments 1872, O6o 1S-leavng
balance ON hand Of $s,e76,6se g.