The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-01-11
MONEY MARKET.
Wednesday, Jan. IO-8 p. M.

The stock market presents very peculiar features
Long Island declined to-day 81 per cent Mohawk :;
Ohio 6s Ohio Life and Trust Pennsy lvana SIS adj
vanced } North American Trust IL kentucky Iii
nois Indiana The state of uncertainty in which all
stock specuations remain these extraordinary
movements Every element is huttering. and the point
from which impetus will that will create ano
ther advance cannot be imagined The sales at either
board very extensive and the brokers opera
ting just enough keep things in notion to take the
first new influence that may spring up.
The Boston and Providence Railroad Company have de-
ciared dividend Of three and half per cent payable
the 18th inst.
The Georgia Insurance and Trust Company have de-
cared dividend offour per cent for the past six months
The amount of received from customs at Salem
for 1872 $l2O,s4s in lsi3, $433, s6l.
report has been made to the Legislature relating
the affairs Of the Erie Railroad Company. The State has
loaned the credit of the people to this company and part
OF ia has been wasted in extravaganza Nearly 500 600
have been used in paying commissions and brokerage
in this city The parties carrying the affairs Of this
road have exhibited the most gross reckessness in the
disposal of the funds entrusted to them long debate
took place in the House in relation the printing of
large number of the report which will give it great
circulation ong the people, and open their eyes to the
method in which the large debt of this State has been
ated The movements of several of the last legsures
have been too much this and is full time the
subject should be understood by those who taxed for
the payment of the interest of the millions
The New England Mutual Insurance Company of Bos
ton have declared dividend Of scrip per cent for the
last year. and per inert the scrip Of 1912
The Boaton money market presents features.
The in stocks in that city do not exhibit the
speculations and excitement that market does. Du
ring the past week prices have declined all but div
dend paying railroad stocks. Western Road was selling
at $50 Charlestown Branch at ~ Fchburg very
firm at advance. The Eastern in New Hampshire has
made addition to its capital of $50 600 to pay off some
loans and sales have been made at 81 advance Lowell
is in demand ~ advance, and Concord do-63
asked for Providence and Boston, dividend Manufac.
turing stock is looking up The Amoskeag sells at 10
90 advance Merrimack DC do Middlesex IL do Law
renee do Hamilton Il do. Locks and Canals have
been sold at 1923 $3.50. This company has a claim
against the Reading Railroad of about 100000 and the
probability Of payment looks favorable than for
merly.
The public debts Of the States Of this Union have reach
ed and stand in position that calls for serious
reflection from those who created them and those who
have the power in hand to an increase and to
vide for the ultimate liquidation OF them The whole and
total Indebtedness of this country in the aggregate when
compared with the immense wealth and unlimited re-
of the United States is hut triAe but when
the people proclaim their unwlngness pay when the
disposition to not pay becomesvsble them and not until
then should those interested those that have invested
despair The people Of this country say to the
tons Of Europe able and will iquidate the last
dollar Of indebtedness The cause the direct
the insolvency Of the States deeply indebted be
to the financial revolution just emerging FROM
The whole country has for years been struggling against
the most desperate depression any nation expert
enced.
Ourinernal difficulties have been serious that re.
quired the most rigid economy and seldenia many
stances of the necessares of life to again reach the posi-
ton occupied before the great bubble commenced
We have just recovered legs again. and the first se
towards retrieving the pass to provide for the sstsaco
ry settlement Of debts to arrive at resutwth
foreign creditors and give them understand that the in
domestic difficulties have disappeared,
determined do something for others The debt of every
State in the Union including that Of the State
would fall but lightly every individual if equally and
justly distributed. Many of tax laws unjust and
fall heavily those least able to bear them. By tho.
rough reformation of those abuses by placing the burden
of taxation ALL according the value of their proper
ty, the laws will be submitted to until the last is
paid and the returns of the collectors exhibit deret
turns than those before reporteda