{"newspaper_name": "The New York herald.", "edition": "01", "page": "p3", "byline": ""}
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Saturdays prices The sales not large and there
appears very little disposition to operate.


Our commercial advicss from Europe by the Hibernis
at Boston ON Liverpool, although seven days lstsr
than those received by the Great Britain give nothing
decided in relation to the harvess and leaves the
matter still In doubt The crops lad not oil been gather
ed and until the harvests have been completed It VIII
be impossible to arrive at correct concluston as 70
the yield, &c. 1t is estimated that the dedcisncy In
weight of grain this year compared with last viii D.
equal to 100000 quarters and the deficiency IN nsa'
above 800 0oo-making total deficiency Of above
100000 quarters, about $4,000 900 bushels. The
stock of old wheat in the country estimated at
100000 quarters, which will leave q deficiency Of
quarters 10 600 bushels to be made good
by foreign supplies The condition of the harvess and
the probable product compared with the same Pc
riod in 1888 but the consumption Of bread stu in Great
Britain much larger than in 1888 and 1889.
and the sources Of supply more limited than in pre-
vous years Of short hsrvess The estimated deficiency
this year will require expenditure Of bullion amount
ing to four five millions pounds sterling at least


The advces in relation to the cotton markets OF an
unavorabe nature, not only account OF the recent
decline in prices and in demand but on account Of the
probability that the advances and the supply
OF corn dmnishes quotations for cotton will experiencs


further Decline and the consumption of the staple de-
crease decline of penny per pound cotton would
make difference to this country in the total crop of
more than twenty millions of dollars amount
than three times greater than the total value of ell the
-four and wheat export Great Britain and all
other countries In previous years of short harvests in
Great Britain prices for cotton have been reduced,
without giving us an opportunity to mako good the
losses thus experienced by large shipments Of bread
sufs The grain growing countries of the continent
being avorably situated for supplying the wants Of
nr;t. Al: h~.o 80
that trade nearly exclusively to themselves general
deficiency in the potato crop of Europe and very great
decrease the production Of wheat in certain districts
have opened the markets of England for the entry of
breadsufs direct from the States. We shall therefore,
be able Offset, to modersAe extent by large ship
-four decline the prices for cotton that
the country at large will not be much affected by the
reduced value Of great staple az in former years
The agrcuurists of the north and west will be benefit
ed by the change while the planters Of the south must
bear the brun of the depression that the cotton markets
must for sometime experience There II doubt but
that with all the relief extensive expectation Of hour
from this country and successful speculasns IN bread
stus will give shall be losers by the deficient har
vests Of England.


The railway speculation continues to rapidyincrease in
extent there appears to be limit to the movement
There appears also to be very great difference Of OPT
nion among capitalists to the ultimate eect Of this





arrangement of the money market by the transfer Of the
Hallway deposits into the hands OF the accountant gene
raj The resolution requiring deposit Of ten per cent
the estimated capital did not pass the lower house
Parliament and the law remains the at last
sion 1t WILL therefore, only be necessary to lodge Eve
per cent of the capital until the bills ready to pass
to the upper house. This reduces the amount of dspo
sits half 60 into the hands of the accountant &C.
neral The railway speculation differs from all others,
in its being confined within the limits of each country
in which the railway to be built The construction
of these works. will give employment to Thousands in
the number of for all the necsssares
OF lfe draw capital from other investments and
the probability OF speculative movement arising in any
of staple articles Of trade increases the business o.
each country connecting extreme sections by modes
of transportation cheap and expeditions, advances the
interests and improves the condition of all classes
There is not that danger of sudden contraction in the
value of the in railway speculatons that ex
lists in every other there is something solid, something
tangible something to show for the money expended,
which is not always the in the speculatons that
frequently make their appearance Notwithstanding
these things appears impossible to escape many
of the evils an artificial imitation of credits to any great
extent invariably produces.


The London Money Market continues to be abundant
" supplied with capital and the rate Of interest ruled ut
two and half per cent There were indications Of an
the Bank Of England continued to dis
count at the above rate.


The weekly returns the Bank of England from July
a6th TO Sept 27th exhibit reduction in several Of the


