The New York herald., 1844-11-23

Friday, Nov. 22-6 p. M.
There was general rise In prices to day. with very
moderate saies At the old hoard Canton improved per
cent Long Island Mohawk u Morris Canal Nor.
wien and worcester 1t stonngton n Eric Railroad
Heading Railroad 1 Farmers IA; Illinois IL; Penn
syivama 90 It Ohis 6s U. s. Bank 4; East Boston
AT the new board Long Island advanced per cent Can
Ton ~ sionington Norwich and Worcester ~ Far
msr' Illinois III U. 8. Bank vicksburg I; Ohio
osl The stock market il in very feverish state and
quotations Auctuate 30 much from day day. that il is
impossible to tell what will be the result of the present
movements Money still continues in the same state az
noticed for sometime past and until some great change
takes place in the market, cannot expect much i'm
provement in stocks. Commissioners to negociste the
Choctaw Loan OF and half millions Of dollars will
oe here In lew days. for which government scrip will be
issued This WILL Of caurse have effect on the money
Market and no doubt add to the present embarrassment
in financial matters The contest between tho bus and
'he bears still RACES with much vgor ever but the
suis are daily gaining strength and it is possible they
may control prices for tme but the bears have
ny resources in the prospective that quotations cannot
advance much, and perhaps those ruling will not be
sustained great deal depends upon the tone of the
Presidents messsge to the Congress about convening
the Texas question Much Importance is attached to the
disposal Of the surplus in the hands of the
government banks and every Of Congress dur
on the stock market The Texas question: particularly
must pressed forward with all the energies of those in
whose hands the subject has acquired its present mpor
tance create depression in the stock MARKET beyond
anything experienced for long time. it s likely
to affect government stocks well as those Of q
fancy nature. It IL the opinion Of many capi.
talists, that the policy Of the government must.
with tho change in the administration, undergo
complete revolution; that the principal acts under
which every interest 10 prospecting, will be repealed;
and Others moro in accordance with party principles be
adopted This belief will doubt lead many astray,
until they are satisfied that they have been deceived
Others disposed create much embarrassment al their
influence will allow do every thing in their power get
up panic and predict rapidrun to twohirds Of the
msrcia classes All these things affect the
and are OF great service to the bears in forcing down
Quotations So far able to into futurity we
are sasAsd that all tho snticpaens Of those operators
without the slightest foundation There may be some
important changes made in foreign reations there
will be- without doubt considerable talk about alterations
and modncations in the present tariff act il s possible
that systems may be proposed to the safety of the
depositss without the aid Of banks; but Il is
probable that there will be the slightest change in any
these and that the will continue at least for
time, as il administered. So longas there is any
doubt hanging any of theset hngs long will the
different interests ofthe country be unfavoraby affected
We have now surplus Of from twelve mil
lions ofdoas The debt due the lst Of January next
will reduce this 977 portion ofthe balance will be
reduced by the of government expenditures over
receipts for several months What disposal may
be made of this balance is question present ssapg
the directors Of the principal government banks through
ont the country. This session of Congress being the
shortone, we shall know what will be the result
after which there will be sufficient time for those disposed
to take advantage of the recess to launch into all kinds
of speculation. These government banks would not
occupy the position they do at this me had they con-
dused their business upon legitimate banking princples
but depending upon their deposie public and pri
vae to loan largely stocks they have been suddenly
brought up We cannot expect hope that they will at
this late day. when they unrestricted in all of their
operations and are not subject to revision oener than
once in three months, adhere to any system
having in view aught but their own interest It is as
tonshng that the banks of this State dare 20 on from
month to month"; and year year. in the same careless
independent reckless they do when their very
existence depends entirely upon public confidence
Tnere is not single bank in this State capable of sus
tang itself against the less of public confidence in its
solven v; and yet they from time to time adopt course
OF action, calculated to nure and perhaps ruin many Of
those to whom they look to sustain their credit The
people have, in their hands, regulator that would
employed compel those institutions keep their opsra
~ insde OI tnelr dDlltty 10 control,
the greatest emergency According the reports of the
banks Of this State made the LIST inst the specie on
hand only amounted to ss 06s Os2 with circulation Of
Saooa2l9 and discount line Of $73 0sl 1877 These de-
partmens are but little under the expansion Of 1887 just
previous to the suspension of specie payments Every
packet sailing from this port Europe takes ont large
amount gold and silver the last packets
Londsn hsvng $SasOo0 board This steady drain of the
precious metals from the country with steady increase
IN the paper issues OF banks will produce the
public mind feeling similar to that created by the
state Of things the early part of 1897 which resulted in
the revulsion of May, in the same year. The banks nav
well stop and ponder upon their position and condition
they have yetthe power to bring back healthy state Of
things but requires contraction in their operations as
rapid as the expansion to prevent unfavorable effects
Several OF the companies composing the line of rail-
roads between Albany and Buffalo have held meeting,
for the purpose Of establishing tsra of charges for
freight during the close of navigation the
canal Th'b Mohawk and Hudson. and Utica and sche-
necady oads have agreed to the annexed rates for the
season -
1ARWF OF CHARoEs-FREIoHT ON RAILROADS.
rr>m Utica to- Albany. 3s cents per 100 lbs.
nerkimer no.. ..S DO
Little Falls do. o.......... .3s do
St townsville do. .........aO do
Fort Plain do. ..7 do
Palaine Bridge DO. ........ .26 do
Fonda do. o......,., 30 do
AmOeruam uO.s 10 do
Schenectady do.........". 81 do
This includes the State tolls, which are paid by the
Companies. These charges appear very extravsgant,
and can only command freight Of very valuable ma