The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-04-02
ERw YORK HERALD, MONDAY, April 3, 1850.

buy and city houses to sell on credit more
goods COZ tnue to be wanted at full prices. The
gut in our market Is confined for the most part to
dress goods, fancy, silks, ribbons, isces, &c.
Our cotton market has been very dull all the
week, and quotations are almost nominal People
are all waiting for the long promised decline in re.
ceipts. Thus far, there is no sign Of anything of
the kind. The receipts Of the week ending on
Tuesday, were 95 600 bales, against $4,000 same
week last year, and $1,000 same week of 1858;
and we learn by telegraph that the three following
days showed the same ratio of increase over last
year. These astonishing receipts are leading
many to look for crop even larger than $500 900
bales. It may be remarked, however, that in the
opinion Of persons best qualified to Judge, the cot
ton which remains behind will not prove good
enough in quality to affect the market for staple
grades.
The foreign advices are more favorable for
breadstutfs, the Liverpool market being reported
firm at an advance; but thus far our market does
not respond, and prices are, If anything, a shade
lower than they were week ago. The course of
the market has bitterly disappointed SPECTATORS
at the least advance. The receipts here continue
moderate. At Chicago the receipts Of corn are
very heavy; wheat is not moving yet and the re.
ceipts Of flour are hardly in excess of last year.
Another week or two will probably witness q diff
ferent scene.
Groceries and general merchandise are generally
quiet Teas are selling fairly at auction, but some
importers. not satisfied with ruling prices, have
been reshipping to London. Sugar ia steady, with
ont much doing. Wool is quiet. Coffee continues
dull, buyers not being willing to give as much as
holders demand. Iron is very dull. The late ad.
vices from France have revived speculation in
brandy, which is held very firmly.
The banks should show gain of specie tomor-
row, as the two California steamers have arrived
since their last report was made-with $l054 600
in gold. There has been some movement of coin
westward, but this has probably been counter
balanced by receipts from the South. The last
bank average of specie was $23,2S6 ,2O4. The re-
ceipts for duties during the week have been heavy:
the Sub-Treasury balance yesterday stood at S.
026 493 against IS l22672 at the close of the pre-
vious week. This time last year the banks held
$25 ,732l6l in coin, and the Sub Treasury 81 $780,,
$50.
1t is apprehended that the bank discounts will
show an increase tomorrow. The prudent conser.
vatsm evinced by the two last bank statements has
done much to strengthen public confidence and to
encourage sound trading. More money has been
offered at the discount houses, and people who
were wavering on the brink Of new and sound en-
terprises have decided to embark their means in
them. Should the statement to be made tomOr-
row show large increase of discounts, all this
good will be undone, and merchants will again be-
gin to curtail their operations, and make all snug
for the fall. Before 1857, bank expansion was
o source Of contemplation among merchants, and
it was the period Of curtailment which was appre.
hended with anxiety and endured with suffering;
now the case is reversedt is bank expansions that
are afraid of, and bank curtailments
which render them hopeful and easy The last loans
column footed up $l27 Sls6o7 against $l2s 7o2 1872
at the same period last year.
Money continues to work with remarkable ease.
The revival of speculation on the Stock Exchange
has increased the demand for money in that quar-.
ter just as the revival of business has caused the
value Of money to increase in London; but at the
discount houses we notice no change since last
week. We therefore quote as before, first class
sixty day paper, per cent; longer paper, same
grade, 81 es, single names, striety prime, Z;
second class, 10 q II, &c. Loans on call 20 at
per cent, when the security is desirable; parties
borrowing on some Of the less popular railroad
stocks must expect to pay6 at least, and CAPT
tasts leaving balances call with brokers seldom
get over At.
Foreign exchange closes with frmer feeling
than was noticeable week ago. We quote ster.
ling bills (bankersO 1854 100, fair business hav-
ing been done for the Saturdays steamers at 1857
Mercantile bills range from 1854 to 10si; some
Southern bills, without endorsement, were sold on
Friday at the latter figure. The demand for francs
is fair at 5164 for city bankers and 5l73 lsa for
all Others At this time last year the current rate
of bankers exchange on London (60 days. was lOsE.
We must now expect an advance in bills. The cot
ton shipments are falling off, and the foreign de-
mand for hreadstuffs, 30 long expected, has not
sprung up, so that in short while specie will be
our most reliable export, and must flow abroad
freely.
The course Of the stock market during the past