The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-09-04
AND COMMERCIAL.
M ON Ely M A II X Z II.
WEDNESDAY, Sept. Sc

The arrival OF the steamship Persia at early hour
this morning. puts in possession Of European advces
one week later. The political accounts unmpotant.
Money was about the same as previously reported.
Quotations for consols do not show any improvement
The Bank OF England returns show a decrease in the
bullion The markets for staple products do
not exhibit much change. Quotations for breadstuiis
have slightly improved while those for cotton
barely sustained. The Liverpool circular OF Wright,
Junior, Co., gives the following in relation to the mar
ket for these articles
Either the trade hold greater supplies and our own
stock Is consequently less than estimated they
be working up what is in hand very closely, for their
purchases in this market have not been equal to the
average weekly consumption and which is Still main
tanned al It's maximum extent The knowledge that
can furnish Ooa or tae mills ior .ne next three
but can scarcely fail TO have an influence when
holdings are reduced, and specu ators apparently
waiting the approach of such time before embracing
transactions more extensively. In prices material
change can be noticed, but the freedom with which
importers offer their stocks gives occasional
advantage TO buyers, more particularly in qualities below
mddlng.
The Manchester market Is influenced by the apatby In
the cotton mari and the continued export OF the pre-
cious metals, which are quite on par with the heavy
arrivals Of specie nevertheless prices of both goods and
yarns are maintained with olerable rmness aud the
whole there IL fair export, and good home trade de
mand In both departments.
High winds, heavy rains, and low temperature have
tended TO reiard field work in this locality; but the
weather report from most parts OF the country has been
favorable.
the grain trade OF restricted character, the more
less successful gathering of the crops inducing operators
TO wait the result before extending business Some
ton from the late heavy decline must, however, b.
noticed applicable TO the better qualities OF wheat
and -four which have advanced 3D. per 20 lbs. and Is
IS. per barrel respectively, then general feature.
Rumors Of disease in the potato fields have influenced
speculative feeling in Indian corr, which has been taken
TO hold over at - to IS per quarter higher currency.
The Improvement in breadstufs is favorable feature,
and II Will give quite impetus to the movements OF
grain throughout the Western country.
e. T. Sauerhwaiies London circular of the 22d OF An.
gust says;-
The continuous heavy rains for week past occurring
Just the critical harvest have produced
very du state Of the stock market and have affected Anne
rican securities equally with our own. Buyers hold
ing or and there are many parties anxious 10 realize but
chiefly moderate amounts. Where sales made they
generally at prices below those ruling at date OF last
adyces New York. Gold continues 10 be taken for
the Continent fast arrives: at the time
are getting from thence considerable sums Of silver
which goes TO the East II Is probable that for
months TO come India and China will absorb very large
quantities Of silver in exchange for silk and other pro
ducts,
The London Globe OF August a. contains the following
remarks on the money market
The money MARKET remains In q rather unsettled POSI-
ton and the rates for accommodation nuctuae between
and Z per cent The Bank Directors are not likely II
thought make any variation Tor the present in their
terms the state Of the foreign exchanges with the
thcr rendering necessary that they should exercise
caution.
The maintenance OF the present minimum s however,
fully expected through the continuous purchases OF gold
tor Paris showing that the principal portion Of the Aus
the Channel Almost the whole " not the whole OF the
total received by the Wslmer Castle viii be taken on
French account there no immediate appearance OF
cessation OF these operations one advantageous crcum
stance connected with the present condition Of financial
Affairs Is the complete suspension OF speculation, and the
little prospect OF any great further extension OF on stock
enterprise This lu has occurred Just IN time 10 prevent
any serious consequences attaching 70 the mania which
seemed TO be growing two three months since
and which would have assumed an lncsnvenient form
had the bank directors again increased their rate OF dis
count Fortunately, the downward movement was ar
rested In time, and although the which have tenn
porary checked the buoyancy which would otherwise
have been apparent, dscouragng, they may eventu
ally be found in indirect sense 10 have proved bsne
hcal
The stock market was little more buoyant this morn
ing and little more active. In the absence OF any
cause must be attributed 10 the complexion OF the
forcgs news. II probably much that any
thing The advance prices at the FIRST board pretty
general Missouri 6s went up per cent; Illinois Gen.
trail bonds, x; Erie Railroad, x; Reading, ri Illinois
Central Railroad, NJ Cleveland ana Toledo, 4; Panama
=, Michigan southern, u; Michigan Central, 4; New
York Central " We should be surprised 70 see the
market lower tomorrow, and more than the improve
ment Of to-day ost In the absence Of all speculation
there demand for the leading railroad stocks on the
market. No one thinks Of taking hold OF the old high
priced stocks for Investment and there Is therefore, no
sustaining power at work, and do not how will
be pos sibe with few turns upon the money mar
ket 10 prevent fall averaging full three per cent
throughout the list Some Of the low priced Western
road stocks may gradually work up against the current
Those which have Just upon the market and rule
at very reduced figures, must escape the general
depression; but make no exception 70
the old, inflated diseased roads, which are kept
the MARKET and sustained in value by specu
aiors There not than three tour railroads
the lst which ranging in prices below their real
merits. When q railroad stock comes upon the
hock Exchange invariably starts very low points and
hoee who have foresight and shrewdness enough 10 take
hold Of at the earliest moment have ever afterwards
the advantage those who In at q later day
Notwithstanding this important fact railroad stocks
do FIRST public attention II is only the
tunae lew who such prizes. Ether for spccula
permanent investment the low priced rail
road stocks hold out great Inducements As Investments
the large dividends make them highly productive and In
iew years more than pay back the original outlay n
outsiders would turn their attention more 10 this class
securities they would realize fewer losses They should
leave the old, out inflated stocks to the profes
siona Spectator Of Wall street Operators who are not
the market every FAY where they watch an take
advantage Of every change should not uvolvs them
selves IN those stocks which are moved up aaI down ii