The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-10-18

them piled up In blocks Thousands Of shares In The
trunks Of brokers, and do not rec what probability
there Is Of better distribution. On the contrary, the
accumulation ID likely 70 be much greater The effect Of
this win be . steady depreciation In market value.
Several Iailroad stocks which now command high
prices in the market, which are sustained by the
efforts Of parties largely interested, viii gradually
settle down. ke!the Harlem, Hudson RIVER and many Of
the New England companies. II il pretty certain that
most Of high priced railroad stocks have sean their
best days. that they will again such prices
have ruled and that they almost beyond any tempo
rary nfatsn from . speculative excitement very
slight improvement market value Is seized upon by
outsiders realize and the supply of stock in the street
Is. In this way continually increasing. While the few
good railroad stocks going ut At advancing prices
the many poor worthless Ones are coming In al decreas
ing prices. The old must give place 70 the new, the
weak TO The strong, nrairosds well In everything
else.
Al the second board the market took q more decided
turn downward. New York Central Railroad fell of u
per cent; Chicago and Rock Island al Michigan Central
Railroad, x; Erie, n; Cleveland and Toledo, q; Read
ing, Il; Michigan Southern, n. The market value
stocks cannot stand in the face Of the downward pressure
With large supplies Of Stock and most Of the operators
sellers for fall in prices, is utterly out Of the question
for holders TO maintain their position. The steamship
morrow, Saturday. win take out about six
hundred thousand dollars in specie. This, with
the shipment Wednesday, will make an az.
gregate export this week Of nearly and
. half million Of dollars The Sub Treasury shows gain,
thus far about three hundred thousand dollars About
million Of dollars Of this weeks drain and half mil
lion last weeks will 60 towards osettng the Cafor
mia remittance. The banks will therefore show about
the specie in their next returns The
shipment by the Arago nom this port 10 morrow and BY
the Cunard steamer from Boston on Wednesday, will
Of the bank statement for the week ending the
25th ins and the probability 10 that the specie reserve
that time will be million less than that last reported
Those who sangune about the suspension Of spe
Gle payments by the Bank Of France must consider that
but many steps has been taken 70 prevent such
event. That institution has made but per cent sd
vance in the rate interest," and the ruling rate at the
latest six per cent while In London It i've
and hail. and at several places the Continent
and half eight and nine and half per cent. Before
the Bank France suspends specie payments the rate Of
interest be, from time to time, advanced, pre-
ventve measure, and when that fails the bank must fall
There can be voluntary suspension with the banks
vaults full Of bullion The next steamer with later dates
may bring accounts Of another advance the Of in
teres by the Bank Of France and that will probably be
for the present the extent Of the financial CONFUSION
The Assistant Treasurer reports the operations this
week Is follows