The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-05-02

Simeon Drapers regular weekly sale Of stocks and
bonds will take place at the Merchants Exchange to-
morrow, at hall. past ~ O'Clock.
The news from Europe had, as was to be expected,
rather depressing effect the market. few out
sders taken with the announcement that cotton
up and breadstufrs up, and consols up.
But knowing operators and the mercantile community
generally, were not deceived by the statement With
respect to two out of the three staples mentioned
practically untrue. Breads us it is true Cd.
PER lbs the day before the steamer sailed but after
the fluctuations the last few months have witnessed this
movement really unworthy Of notice. From the
best accounts cotton does not appear to hare moved
1t has held its simply from the fact that there
little speculation in the article at the time. Hold
unwilling to sell at loss refused to part with their
stock at the prices warranted by the state Of commercial
affairs; and buyers, naturally foreseeng the obvious
dminution in the home and continental demand would
not operate without material concession from sellers
The funds have risen fraction, in consequence of the
demand created by the shorts for the uflmen of their
contracts The most sanguine money writers in London
admit that without this consols would have undergone
sensible decline In point Of fact during the past three
months the price Of consos has been most unsafe
guidea most untrue reflex of the British money market
From the time when the war became probable, specu
lators began to sell short and, as frequently hap
pens they sold more than they could purchase
at the market rates when their contracts came due.
Hence we have had general rule slow but steady
decline in price, owing to tho state Of political AFFAIRS
with ftful advances caused by the maturing of
Gus large contracts simultaneously. We learn from
London contemporary that had not been for the
of stock put out by the bank consos might have closed
nearer SO than ST. and such quite
possible. When fall in leading stock is inevitable
under ordinary circumstances everybody sells; and it
often happens that the very anxiety Of the bears to
it down keeps for months. So far the real
state Of the money market Is concerned apprehen
sions expressed last week fully confirmed Specie
continues to be exported to the Continent such rates
at times million per day; and there is general
reluctance 10 embark in any speculative schemes. In
the present condition Of affairs, men who have money
don't want to invest it in stocks which the Of
battle may knock down ten twenty per cent.
Money is easy in Paris in consequence Of the drain
the department. in favor of the bank which regulates
price This may fairly be expected to last fortnight.
As as specie begins be exported to the of
the rate Of interest at the Bourse is likely
be six per cent than nything else.
visible tightening Of domestic money market is
que apparent. Money is Offering at the usual rates on
CALL but will part with his funds for any length
of time without exorbiant interest and ample security
At the second board there improvement in the
market; but, on the contrary in of the fances
further depreciation. Harlem fell per cent Parke
Vein, x; Pennsylvania Coal, X; Nicaragua x; Fri.
Railroad e; New York Central Railroad, u; Readn
Railroad -; Cleveland and Toledo Railroad, 1.
Mining stocks dull A few good mining share
for a few cents The following the bids at the
boards