The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-04-25
NEW YORK. TUESDAY MORNING, APRIL 49, 1913

earnest, and the beginning of rerieval from dscre
dit and dishonor is at hand The passage of the re
form bill, the bills to sell the State stocks and State
works, have inspired a.contidence truly cheering
The result will be the total extinguishment of the
floating debt and the reduction of the permanent
debt to about 20 millions instead of 40 millions and
upwards, an It now actually is Strike Pennsylvania
from the catalogue OF regulators, for before two
years roll around, you will find her interest punctu-
ally and fully paid, and sinking fund established
OF at least $oO,0OO per month, or 5000 600 per an
num. The feeling OF the people IS OF proud honesty,
and so soon as the floating debt is paid, sinking
fund will take It's place. and Pennsy credit
will stand, as II ought TO stand second TO none in
ability, honesty, and honor. The per cent loan
has run up from 40 to so during the past week This
is not the work of s; eculation but permanent in
crease of value, which will gradually go on, and be
tore six months the stock will be fixed at not less
than rs. This, OF course, has its corresponding adj
vaniages. Loans OF Railroad and other companies
will De less steady and less valuable, while another
avenue for profitable investment is opened, but its
influence upon all stocks more than countervails
these advantages.
Bank stocks are rising, and money is abundant
Good paper can be readily discounted at about 81
per cent per annum, and mercantile business IS now
done upon sure footing, OF short credit cash
basis.
Governor Porter left town yesterday morning
His visit was private 10 his family and not connect
ed with any public affairs. His intimacy with
Judge Blythe, (our new Cotctor) caused him to
be run down with applicants for situations in the
Custom House, all begging his influence and good
offices with the Judge {; but, as am informed, he
in every instance refused 10 recommend or inter-
fere.
Several removals will take place the coming
week, and before the first of May, your general
meving day.
Our Courts present but little attraction. The Su-
preme Court yesterday closed its Philadelphia list
and will not resume il till December next. The
Court of Common Pleas has been engaged in exa-
mining contested elections, and yesterday set aside
Gle he N Wp ards for ar,tip in
conducting the poles, at the same time ordering
new elections. In the District Court, before Judge
Stroud, Captain Mans eectment suit against Drexe,
concluded yesterday, and the verdict will be
rendered tomorrow. The property consists OF forty
houses, formerly belonging to DR.. Dyolt. which
were purchased by Captain Man at SherlH's sale
Drexe Ia brokeD afterwards purchased them at a
second sale, and alleging fraud n the sale 10 Man,
brought an action OF electment, In which he was
defeated He brought second action, in which
he recovered and obtained possession, upon which
this third (and by our law final and decslve) ac-
ton instituted, and have but little doubt OF
Captain Mans success, as the memory OF MIR
Drexe's principal witness has failed very much
since the trial last fall.
The Walnut street ID the only theatre open; Booth
has drawn crowded houses, and Mr.. Risey and his
son, who lost all but their lives by the Guadalupe
earthquake, have had pretty fair success. The
Chestnut street is closed, and seems without hope
Some OF the stockholders, dissatisfied with the
duct OF the lessee, have called meeting for Thurs
day next to see it they cannot take possession, and
give it to some one who will open it, 1t is said to
be promised Gf not actually leased) to haywood
tor the next year, at a very low rent. This is not
altogether satisfactory; and if 1t is not too late to
prevent ii, may be prevented or prohibited.
The National Theatre and Phadelphi Muse UNI
are to be sold by the Sheriff on Monday next.
Mr.. Ridgway still fingers, his death being mo-
mentariy expected, his physicians having yesterday
pronounced him beyond the power Of medicine. He
is above 73 years of age, and his wealth is supposed
to be from six to ten millions.
Rents are still on the decline; the dimuntion OF
business having of itself occasioned reduction OF
expenses Merchandise of all sorts is to be had very
cheap, while real estate has no fixed value.
HAMLET