The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-24
FINANCIAL AND COMMERCIAL,



MONEY MARKET.
SUNDAY. Jan. 22-S p. M.
At the close Of the market yesterday there was an
active demand for stocks with an upward tendency
in prices Throughout the past week securities have
leading fancies have varied materially The street
is largely short of some stocks and the probability is
that the bulls will get the best Of the movement.
There is no doubt but that We are about entering
upon state of things in the financial world UMPIRE
cedented in the history of this country. There
no shipments of specie from this port last week. and
the steamer from California, with another heavy re-
mttance Of gold dust is nearly DUE If the exporta-
ton ceases for any length Of time shall have an
accumulation of precious metals that must have
wonderful influence upon the value Of all kinds of
property The large shipments from this port during
the past two years, have had tendency to check
the expansion Of prices and the operations Of specu-
latOrs; and five can manageto retain the bulk of
receipts from California for about six months, shall
an activity and an expansion in financial affairs
greater than before realized 1t is opinion that
we are rapidly approaching that point. Weare about
entering upon a period of abundance greater than
the most sanguine Spectator ever imagined. Money
must be cheap and plenty. We see no possibility of
its being otherwise California and Australia are
turning gold dust out at the rate of tens Of millions
Of dollars monthly, and it must find its way most ra-
pidly into the channels of trade II must form the
bulk of our currency, and its abundance must in
fate the market value Of property beyond all cacula
ton. What the result Of all this will be no one can
divine but the end is yet good way Off We have
no apprehensions Of any immediate effect of an un-
favorable character There may be an occasional
pause lul in the progress Of things but there will
be no retrograde movement no revulsion, no panic
no break down, or smash up, as in times past. The
basis is too strong the foundation too solid for the
structure, immense as tits, to give way. As extra
ordinary as il may appear, people have not that
wild speculative feeling, that rockies, haphazard,
desperate disposition to engage in the most visionary
schemes the imagination could conceive, in times
past. With all tho apparent extravaganza,
there is more cautiousness in their movements
than is generally supposed. As eager as all
for some enterprise and Notwithstanding the
rapid progress made in all speculations of the
day, we have noticed that the schemes which
have not possessed real merit, which have not con-
tanned valuable and important resources, have been
short lived, and suddenly disappeared. 1t must be
really good thing to succeed, with all the apparent
carelessness Of capitalists in their movements. In
1886 and 1886 the public mind turned principally to
real estate, and it was the easiest thing in the world
to get up maps of lots located in the most remote
sections Of the country and put them upon the mar
ket. Nothing Of that kind exists at this moment;
productive real estate and lots favorably located,
command what may be considered great prices, but
they are in reality worth what is paid. The expan-
sion in the value of real estate is not general az
may appear. 1t is only in certain locations where
it has advanced so enormously That still greater
imitation, but more distributed, win be realized, we
have not the slightest doubt
So far as stocks are concerned, there is margin
for an improvement greater than in anything else we
can now call to mind. As general thing, stocks
are much deprecated. With the abundance and
cheapness of money, with the Development of the
internal resources of the country the extension Of
internal improvements, the increase of population,
consumption Of agricultural, mineral, and manufac.
tured products how is it possible that securities rep
resentng every branch Of industry paying high rates
of interest can long linger in the neighborhood Of
the current market value? As the quantity of CAPT
tai increases the cost Of money becomes reduced,
the rate of interest falling off, stocks representing
companies intimately connected with the growth and
prosperity of the country must appreciate and COM
mand premiums corresponding with the annual net
income produced We have not so much faith in
stock securities giving fixed dividends As the value
of money decreases or what is about the thing
in effect, the value Of every species of property
increases, fixed incomes will not go far in furnish
ing the necessaries luxuries Of life rs at the pre-
sent time, and they will not, therefore, be desir
able for investment, and must become less valuable
In the market
The Greenwich Insurance Company have declared
a semi-annual dividend Of ten per cent The Dutch
ess county banks have made the following seminar
nual dividends THE Bank Of Poughkeepse, six
per cent the Farmers and Manufacturers five the
Merchants and the Pine Plains, four; and the Falk
three per cent The Farmers and Manufacturers
Bank of New Brunswick, four per cent.
The annexed statement exhibits the quantity and
value of merchandise, other than dry goods, import
ed into this district during the week ending and in
Guiding Friday, January Il, 1853
CoxMERcE OF THE PoRT OF New YoRK-wEENry IMPORTS
Phys. Value. Pigs. Tdlue.
Books....... q 2,SO5 Jewelry ...... 10 6124
Bottles. ...... 1857 Leather SIS
Bristlcs. 800. 13 800 Boots&shoes So
Bronzes ...... 5 S32 Dressed skins 70 1920
Rr,ishes m, 10 5,153 Undresseddo 6,263
mttons..,... 81 1852 Liquors