The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-11-15

sssssss - ree<nt decline In market vasue has
ven ...... .%a ~ moment than they have besa
for months Previous to the late depreciation most OF the
prominent bull SPECTATORS In the held large blocks
which were likely to como out any moment. They had
lypothecated them among all the incorporated concerns
which would loaA money at fair margin, and
these called the stocks hadto be sold any
price These sellers leaving the MARKET with The
hope getting bach their supplies At lower rates. whe
Their they win succeed not In doing remains to be
seen.
There are many outside operators who think cur
rent prices sufficiently reduced TO justify purchasing
for rise and who believe that the margin Is largo
enough to satisfy any ordinary bun spccuiator, that
the market win not be suffered to drop much lower The
clans Of operators who in purchasers are men
who not governed entirely by the complexion Of
financial affairs ut the present moment but who look
beyond and see in the future the effect Of all the liqu
dsten and contraction now going 50 rapidly and so
generally. 1t 10 impossible for country remote
from the scene Of hosttes in Turkey, unconnected
with the political Affairs Of the Powers of Europe, and
possessing little sympathy for any Of the parties
gagged to be affected any further than speedy payment
OF al indebtedness may bring about. In this way the
European war has operated unfavorably upon Of
local interests but rapidly extricating
selves from such entangemens, and must long be
Indifferent spectators Of the struggle unless something
rarsnents and difcues Of those Immediately engaged
in the contest.
We have known before such universal desire
get ont Of debt IL pervades every class and il
pies the attention OF every individual and in every
camille movement made that is the object aimed az.
Ultimately this must be accomplished, and then our
recovery from the losses and disasters Of the past year
cannot be otherwise than rapid and effective The .ols
cause Of all our present Is the reckless.
kxxlf.h hara IL, 49,
enterprises have been projected and perfected upon
dit All sorts Of extravaganza practsed and all sorts
Of swindling and rsscay resorted to TO remove the
burden from the shoulders OF some 10 put il to Others.
The contraction Of enormous debts for all kinds of par-
poses without the remotest probability of meeting them
maturity for years been almost mania the day
of settlement has at last Fortunately
have proved largely available, and liquidation has pro
crossed more avoraby than could have anticipated
California has been unfailng OF supply
stock OF precious metals, and has saved from
yulsion equal to any heretofore experienced. The
reucy at large has by the accessious of gold from Cali
fornia been kept In sound and healthy conai on II
true that in some sections Of the country there have
been rapid mutations and sudden colapse but they have
nc; yated the great volume oil paper currency,
duced the amount OF coin in circulation There is vast
amount Of gold and silver coin in the hands OF the peo
pie and they have not therefore been much Affected
Tie credit system Of the country has been and
still continues sound and healthy; but it has been
too much extended. The process of conrac.
ticn is in . fair way of being carried
TO any extent required, without producing serious
vuision In 1897, when there was general collapse
from Maine to Louisiana, had nothing to fall back
upen but rredeemable paper currency after the
pension OF the banks. We had California then TO
give Between three and four millions of dollars per
month TO pace into circulation and gradually displsce
the shnplassrs Of the day. The entire country was
Frustrated by complete humiliation OF its resoarcosJ
and only recovered by wipng ont all evidences Of ndeb
edness by the spongng process of general bankrupt
| law. Now, all OF are In active and
healthy operation Nearly four millions Of dollars are
monthly dug from the bowels OF the earth and added vt
once to our available resources, giving facilities for
hquidatne liabilities unknown in the former times or
| trouble and iribulatior.
After the adjournment Of the board, tic follow ing
sales OF stocks and bonds made at auction by SIM
! Ton Draper
5000 Junction Railroad Ohio Isl mort int added. 81
20 shares kpckerbocker Bank. Observation-Disclosures. -
10 do. United States Life ms Co...............s
! Is do. Third Avenue Railroad ....................2
Tho Metropolitan Insurance Company have declared
semi-snnpal dividend of four per cent. payable
afct the Goth inst.
TIE run on TIE Trans-Aleghany, the Abingdon III
, J.d Dominion Tho Kenawha Banks, and also the Es
change Bank of scd:n, witier and Co.. stil continues
nd each bari is reaoeming It's notes with these Of tn
.ihefs.
The City Pant, and the Merchants aud Mechanics
Bani OF Chicago, have suspended payment.
The banking house of Hiram johnson, the agent of The
Farmers Joint Stock Bank, at Buffalo, spenJed yes
tcrday. The following card relative TO the affairs Of the
bank appears in yesterdays Bufolo papers,
The agency of the Farmers Joint Stock Bank in this
city being unable longer 10 sustain the proacted
upon this Institution, would beg leave to notify All par
ties interested that the bills of this bank win DO fully
redeemed in real estate, at fair prices, otherwise
| parties may agree.
Tho cashier Of the Woodbury. Bank has issued the fol-
/ lowing card H.. ..s
| w5opRthy Basx Coxy Nov Is 1854
! The Suffolk Enhk having refused 10 redeem for the
Woodbury. Bank. the public advised To max. any
sacrifice The bills, as they redeemed at the
| ter.
For the week ending Saturday, Nov !, there were 30
boats descended fire Chesapeake and Ohio canal carry
ing 2I IL of coal and 1G3 o.tons Of coke Dur
ing the period 1867 Oh tons of coal passed the
| Cumberland Coal and Iron Companys railroad, and
s,et2 tons the Mount Savage Companys railroad,
making aggregate from the Frostburg region for the
week Of H. Oh tons, and for the of 3e7 s07
tons During the time 3,47I tons passed the
Georges Creek Coal and Iron Company's rairoad and
80 90 from the New Creek Company the Balt-
more and Ohio railroad. Total from the Westernport
region for the week 35ieI5 tons and for The season
J57 900 total from the whole coal region Is bo3 10 tons
the week and since e i Of January last 564 051I
tons Of which 423 652 tons transported market
the Baltimore and ohio railrosa and 13i 2J4.17
| tons descending the Chesapeake aud Ohio canal.
The amount Of coal brought down by the Cumberland
Coal Company during the week ending November H.
1850 tons, averaging 1915 per day. which Is consi
cradle increase ON the week pIeviops
The warrants entered at the Treasury department,
| Washington, on the 11th inst, were
For the redemption or stock ......... si01 zIa %
For paying other Treasury debts. 1911 20
70, ;ba .................... 252G3 81
,cverta into tho Treasury from stons 1897 ~
Covered ino The Treasury from lands. 2,571 50
Cos into sury from miscellaneous Si 90
Tor The War department.. 2o3 LOB ~
For re-paying in the War departia.nt. "a, rs -
The value Of domestic produce exported from Calves
Ton during the month Of October 1854 according q The
Custom ious. returns, was only $4,000.
The foowin. table shows the receipts of loaF aad