The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-02-16
FINANCIAL AND COMMERCIAL.
MONEY MARK EFT.

FINANCIAL AND COMMERCIAL.
MONEY MARKET.
TUESDAY, Feb 15-6 p NJ.
There was further depression in the stock mar
ket this morning. At the first board nearly every
fancy in the list declined and some Of the good
stocks slightly deprecated Cumberland Coal fell
off per cent; New Creek, 4; Nicaragua Transit !;
Potomac Copper 9; Erie Railroad, !; Hudson
Railroad, 81 Harlem, !; Norwich and Worcester, /;
Brunswick, /; Michigan Central Railroad, l. New
Jersey Zinc, Pennsylvania Coal, 0; Morris Canal,
3; Erie Bonds, 1862, t. Parker Vein advanced per
cent. Phoenix Coal closed at an improvement Of Ii
per cent from the opening. The market, as whole,
looks weak and the disposition to purchase for rise
is daily becoming weaker Shrewd, cautious opera
tors, are afraid of the ides of March. Many have
reason to remember them, and there is sort Of
supersttious feeling in regard to that period of the
year The tendency OF this is to restrict Transactions
and to bring about concentration OF resources.
There are decided indications Of great and sudden
increase in the expectation Of specie. The recent
stifening in the market for foreign exchange,
the immense weekly importations of foreign manu-
features, their excess in value, compared with
the corresponding period last year, all point to
more active drain OF precious metals from the vaults
OF our banks. The movements recently made In the
financial circles of England and the Continent, the
advance in the rate Of interest by the Bank of Eng
land-the immense shipments of bullion from Lon
don to Australia, ST. Petersburg and other places
the reduction of bullion in the bank and the dispo
siton manifested by English capitalists generally
to place severe restrictions upon speculation-all
point to more stringent times in the money markets
nf he md hoo Inv c<o of in
financial affairs generally. The effect of more caution
among fnanciers and spectators would be to con-
tract prices for all kinds Of property and it must be
admitted by all that it is certainly time to prevent
the imitation exceeding present limits. II is true
that property generally is not 80 enormously ex-
banded in market value as in times past, bat some
kinds Of property have reached points which threaten
sudden coDapses. Real estate has really reached
dangerous position, 80 far prices concerned,
in the market. There must be tumble soon, if
something is not done to arrest the speculative
movements now going on. In merchandise gene
rally moderate state Of things exists There no
speculation Of importance in any Of the leading sta
pie articles Of trade and movement ont of the re-
guar routine. In stocks speculation has been quite
active but it has been confined to certain class OF
stocks Of recent date Of uncertain value present and
prospective and prices have become unwarrantaby
inflated There is now lull in the market, and the
probability is that the securities referred to will grad
ually but ultimately settle down to their proper
level. The only thing we have to fear much at pre-.
sent s the result of the real estate mania Of the day.
Any sudden collapse in that-any sudden break down
in prices-would have very unfavorable effect upon
the entire community, it would spread the seeds Of
doubt and dstrust broadcast throughout the country
Speculations in real estate in 1885 and 1886 were
the direct cause OF the convusion or revulsion in
1897 and all the evils which followed that explosion
At the second board the market continued de-
pressed. Two new stocks-the Llangolsn Mining
Company and the North Carolina Coal Company
were presented for public favor and small lot of
each was sold. Both are bituminous coal stocks.
Parker Vein advanced q per cent Nicaragua
Transit 4. Sixth Avenue Railroad declined per
cent; Morris Canal q; Reading Railroad, !; Erie
Bonds, ISL /; Erie Railroad, 4. small sale of
Potomac copper was made at 81, being decline of
per cent from the highest price
Books for subscriptions to the capital stock of the
Australian Steamship Company, will Ae opened on
Thursday the 18th inst, at 10 o'clock, at the Bank
ing House of Messrs. Duncan sherman Co., Will
liam street This company is incorpo-atedunder the
General steam Ship Company law, nth capital Of
1900 600, with liberty to increase 30 the amount
allowed by law, say s. 100000.
The importations into this port to-day February
To- have been as follows
Bark $50 hairs plant ain rk 5utter-4 casks 80
nrkins. Beer-1lg casks. ,oal-s4l tons. Drugs-50
casks bcarbonate soda 100 casks 102 terces sod ash
$50 bbls -four sulphur Dry Goods-G1s packages per
Princeton 3S4 per F. C. Scranton 346 per Mercury AIS
per West Point Honey-ls hhds 100 tierces q bbls.
Hemp $50 bales Iron 32s bars iro. 30 565
Metal-50 copper. 0-3i casks linseed ~ casks
olive Paint--60 casks R2gs--S0 bales. steel--33g
cases, les bundles. Salt--4,174 sacks. SArch-l5j
sacks. Segars4e cases. Sugar252 hhds., II 962 bags
do cedar. Wool--24 baleS.
TIE Hazleton Coal Company have declared a diyi
dend OF three dollars per share.
The Assistant Treasurer to-day received
sI4s OO6 Is, and paid out si-5it So, leaving bal
ance en- hard OF - ,53l ,006 Is.
Counterfeit three cent pieces are in circulation.
They are 50 clumsiy executed that they be cast
~ detected
The Canal Commissioners a Pennsylvania have
directed navigation on the canals to commence on
the Isl Of March 1t is anticipated that an immense
amount Of public business will be done on the public
works the ensuing season.
The Catawissa, Wilfiamsporf and Erie railroad
Company will offer for sale, at auction, IN The Mer
chants Exchange, on Wednesday tomorrow, Feb
rue'y 10th, at l2t O'Clock eight hundred thousand
d.l.~ = t'ci. - .co' hns, priac'pd 2'y'