The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-03-07
FINANCIAL AND COMMERCIAL.
NJ ION EY Nj ARK EFT.
SUNDAY, March &C P.


There was slight let up yesterday at the first
board, in the depression which had for many days
previous, borne SO heavily upon the stock market
1t was natural reaction after 50 much depreciation;
but like all such movements during distrust and
want of confidence in the public mind it cannot be
otherwise than Temporary. The rally has been in
Nicaragua and Cumberland. The bears availed
themselves of the opportunity to put out large
tracts, and the Improvement was arrested. At the
second board there was quite panic, and stocks
sold at a great decline. The heavy purchases re-
Gently made for delivery matured contracts have
done more to sustain the market price for the fances
generally than anything else, and the full effect Of
the stringent money market has not, therefore, been
felt by large holders There is no demand for fancy
stocks from outsiders Speculation is almost en-
trely confined to Wall street, and as stocks are held
in large lots great efforts are made to sustain prices
by continuing purchases on time, buyers option.
Many, doubtless, purchase with the hope that
brighter, better times are near at hand, and that
operations on buyers option, sixty or ninety days
may turn out profitable. This is mere chance and
these who make such specuations go into them in
the same way that they would into rattle, or into
LOTTERY careful investigation of the causes
which arc producing in Great Britain, and in this
country, the stringent money markets. which
are steadily raising the rates Of interest, will
chow state Of things by no means calculated
to increase public confidence, but, on the con-
trary. one likely to bring abont contraction
In individual operations, to on important extent We
cannot have very easy money market again. until
the supply of actual active capital increases at rate
corresponding proportionably with commercial trans
ho NJ tha pf;I
now greater than can be satisfied, and they are in
creasing fast that the demand for money is likely
to be much more active than it has been yet Indi-
viduals engaged in commercial pursuits and in the
numerous legitimate enterprises Of the day, must
have more capital as their operations extend and
they come into competition with the fancy spectators
Of the day, in the money market With the first 1t
is matter Of necessity, and they must have enough
to supply their wants at any price. The extension
Of trade the immense extent Of foreign importatons
and the rapid initiation Of private credits in every de-
partment Of industry, have created demand for
money which the banks and private bankers have
not been able TO meet The consequence is rise In
the rate Of interest and the transfer Of loans on
fancy stocks to legitimate lines Of discount for the
mercantile classes. These changes have tended ma
teray to reatrct the stock speculatons Of the day
but they have not afforded 50 much relief az antici
pated. The demand for money will have very ia
vorable effect upon the movements Of trade, AS 1t will
check operations tend to preserve healthy state of
things, and put on to remote period the col.
lapse which ultimately must close the present in
fation.
The exports Of specie from this port, last week,
amounted TO 1881 SOL Of which $500 900 went In the
steamer Alps, and t96 500 in the Arctic, to Liver
pool. Total shipments from January LIST TO March
5th, 1883, 81 ,s74 ,s42.
The importatons into this port, ON Saturday
were as follows -
Bleaching powders 100 bbls beer fS5 sasks brstes,
cnsk chalk 131 tona coal 104 tons drugs 2l0 erces,
182 cssks soda ash 80 casks sugar lead q casks chs
ea casks oxslie acid 20 casks emery; dry goods II
packages per Maaeer, 700 packages per Victoria, 70
cares per j. Wchelhsusen SIS per Kennebec dyes 100
bags hops bales iron 78 bars railroad iron
2S7 bars1 6s5 bundles s64 bundles sheet 70S bundles
Sheet $40 platter 100 tons pig lead $50 pigs leather
bundles oil 81 casks rape seed OIL $50 easks nssed do
paint 20 kegs solors; shell is packages mother pearl
ease turtles tin 968 boxes erne plates 1876 slabs tin
$50 boxes tin plates; wine IL boxes.
The annexed statement exhibits the quantity and
valus Of articles, other than dry goods imported into