New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-05-29

success. ft6 SGH FrcHcisco bA"tH say.
\, the date of our las; seInnonttby market report
ro zrrc oIjiped 10 mole a. very depressed state OF
t,sse copseuert IN great measure upon the scarcely
Of money but - a certain extent a. wen ~ lie Fcil
moderate purcha-es made ipr the c"un'iy sh't ~ ~
IN March abnut which time materially advanced
rates fer nsuy staple articles were esmOl'sh-t
UurDp the Last fortnight regret 10 state mat mel
ther financial or commercial natter have nended
On the col trary have rarely had occasion 10 re-
view the opera,ions Of half month characterized
=, 81 co ia, ,,ronrispC features as those which
have trapspfed in our market since lie departure Of
Tbs withdrawal Of q leading banking house from
business and the transfer OF ts capit!l 10 me Eas
has VIEW seriously diminished the amount OF bank Gc-
con mediation available for business purposes: fur-
thermore a large amount Of European capital which
has heretofore been employed 10y the agents IN mer-
chsudso Loans Is also heinC Withdrawn, and q natural
sirngencv and scarcity results from the absorption OF
surplus CAPITA AT the moment IN new loans 70 REIN
buIse old ones, the money Tor which goes ABROAD
When we s1eak Of stringency and scarcity, we mean
ON This occasion To use the words III their absolute
sense for certainly not within our expenence-not
even during the panic following the bank failures in
ls55-was there SO little money 10 be had on good tan
pble security a. during the last thirty days The
pcrience Of last steamer day has prompted the
obbers since to buy nothing on short time which they
could possibly dispense with, and we imagine that few
operations have been made upon speculation except
by parties who were able to draw check on the In
slant for the whole purchase money.
IL is admitted by every that the value OF goods
must depreciate unless money soon becomes plener.
What il Ia make Il pielteT Wa cannot see. The bal
o,6e AGAINST the country for goods is no larger than
h oHrooe nart of il will be hGuidaed this steamer
day." and the money shipped out of the county;
The capital seeking investment will not be augmentu
materially in q fortnight, or IN one or FIX Wonih' y
the country merchants payments. whence, mem =
10 come the round million we have now la's thah III
March wherewith to facilitate speculation and keep
up prices There are twenty, perhaps thirty millions
of hard money in the aggregate boarded al the present
nnOment bv individuals in California, but The conn
depce in banks thoroughly destroyed In % hat
NO security or pledge emanatiDg from whatever source
would induce one man in twenty to deposit MS money
in the vaults Of the San Francisco banking-houses'
Notwithstanding we believe those now III operation
10 be quite solvent aud prudently managed as sun
liar establishments in any part OF the Wor1; m
vc.tnents in real or personal property would us'I
the payment Of higher rates OF interest we might ly9h
for capital 10 return hhcr from abroad some io.,s
hence. experience however, has demonstrated INA,
cases are rare where an operation will warrant - D
per cent per month interest
We apprehend that period has al Length arIINeu
whence decline in the extent OF specHauNe -; -
tons i inevitable simply TOR the want ol inoHey VIZ"
which 10 carry them on.
The prospects f0r 7 magnificent harvest oil g'a.", a.
well as gold during the present year Whch NC . .
every reason 20 hope fortnight or month Nn't arc
now somewhat o0scured from the want oi ram olIC
the first of March very trihng showers have fallen II
ay part Of tia State and in sOne districts not doI
of rain has wes the soil for two months The growing
crops are materially in great peril for the want OF mos
turc The miners in dry digging, where there are ne
bitches are uuw mostly idle, ane III those Localities me
production Of gold will cease until rars fal. IL If &c
be earnestly hoped that the present month VIII not ot
far advanced before We have coplous and refreshing
showers else the consequences VIII Je disastrous u
the mntag as well as to the agricultural interests.
Elsewhere we have COMMENTED a. sufficient Length
upon the scarcity and deaness of money IN mercantile
circles the same condition of affairs exists with partle
L. 80. Gagffe,f Loan rDul a.
money upOn good merchandise security - a. e cen
il readily obtainabe, and capitalists are giving the
preference to short Leans Of that character rather than
10 long upon rea property at less rate OF usanCe
A good deal Of paper is Offering lattery, and /
done at 3 + cent.
The Legislature has adjourned within few days
and of its closing acts was TO provide that the
question of leCaZng the State debt shall at the neN
election be submitted TO the voters OF the State. We
do not permit ourselves to doubt but that ID people
of California will by large majority, sanction the
payment of the entire debt.
The receipts Of Gold Dust during the past month
were rather larger than in March. Messrs. Wells,
Fargo & Co.'S messengers brought down in April
about 50, 500 coo, small portion OF which was coin.
The business done at the Branch Mint III this city
during the month of April was as follows;
DEPOSITS.
Gold Bullion, ~
c ;oo
Dine the last half Of April the Mint has been only
receiving refined gold bars for coinage, and large
rroporton of the dust which has down has been
nut into the Private Assay Offices for impaired bars
The quantity of bars consequently put upon the mar
ket has been in of the demand and lists from
900 20 9l5 fine have been sold at from > cent
discount. Some fine bars have been sold at z cent
discount.
The advices brought by the last mail Of the material
decline in California Stocks at NewYork, acted a.
damper here, and nothing has been done since. We
append our usual quotations. which have been care
fully revised:
State Bonds payable liz 1890 T. none in market
Bonds PAYABLE in 1875 T. d
Loan Bonds T. cents, since January '5i....fG -
FUND
CITY And COUNTY.
San Francisco Bonds, 10 q cents D
San Francisco Bonds, Is
San Francisco County Scrip according 20 date) Pa ~
Francisco Controllers Warrants .5d -
Sscam, CITY Bonds according 10 date 70
Sacramento County Bonds 10 T. cents 70
Marysvile City Bonds 10 p 30
Team the contract executed last September between
the La Crosse and Milwaukee X r. Co. and the WATERFOWL
and Madison r. Co. providing for the consolidation OF those
companies has finally concluded By this arrangement
entire busness Of tho important railroad interests has
been consolidated. Madison Argus
This paragraph was copied, without comment INTO
The Sentinel Of Wednesday last, and republish it
this morning, in order to contradict the statement
therein made. We are authorized aud requested by
the officers Of the La Crosse and Milwaukee X. r. Co.