The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-12-17
MONEY MARKET.

Tuesday, Dec. 1915 p. Nj.
Quotations .or stocks down to-day Compared with
yesterday there has been a decline ranging from to
per cent. Canton fell of II per cent Mohawk, Nor
witch and Worcester Reading Railroad, Morris
Canal, b Farmers Loan Long Island, Pennsy lvania
5s, and North American Trust closed firm at yester.
days prices. Harlem advanced per cent. The sales
limited, and from of the market should
Judge that the decline to-day caused entirely by the
operations Of the bulls to strengthen their contracts
meeting Of the stockholders Of the North American
Trust and Banking Co. is to be held at the City Hotel to-
morrow evening.
The Eastern Railroad Company have declared semi
annual dividend of four per cent and the Portland saco
and Portsmouth, Of three.
The injunction having been removed from the Farmers
and Mechanics Bank OF Detroit has again commenced
business $780, 900 has been added to its capital large
amount of which has been already paid. The president
Charles Seymour, Esq, formerly Of Canandaigua, and
the cashier Elisha c. Ltlefeld Esq late Of Cnzenovia,
well known of business habits of wealth and
integrity.
or the second five per cent instalment of sl5oooo
called tho Erie Railroad, over $4,000 has been al
ready paid in.
The movements of the party opposed to the present
administration and tho tone Of their organs in this city
and Washington clearly shows that their whole strength
and energy will be brought to bear against the proposed
nfcance compared with this. Even the tariff is secon
Diary consideration compared with an act checking the
expansions of the banks and doing away with the ne
cessy that has heretofore existed for SO many banks
The whg party will make their opposition to the SUE
Treasury act the feature of the present session,
hut there appears very little prospect Of their being
cess Tho party Congress favorable to the passage
Of this important and at this time necessary act is su
centy strong carry through at once, and there Is
very little doubt but that il will do II may possibly
be the first bill of importance passed. hat it can 10
into operation before Congress adjourns. We do not nm
ticpae any very material alto in the money mar
kets Of the country il tho event Of this bill becoming
lawits provisions will act checks upon any further
expansion of the banks rather than create any restc
tons upon the existing volume Of the currency Inc
revenue as il accumulated will be deposited in gold and
silver in the depository and the deposits drawn from
the banks faster than the actual expenditures Of the
government may require. There will be actualre
moval OF the deposits in much gold and silver from
made in the place Of depos of tho hereafter
collected. II will be the object Of the government TO
reduce the tariff down 10 close revenue standard,
az soon the subTreasury passes so TO prevent the
accumulation Of greater surplus revenue and the with
drawa of large amount Of specie from circulation To
accomplish this object. reduction in the average rate Of
duty exactad by the existing tariff act must be immc.
dateIy made and revenue standard adopted. II will
he highly necessary under the operation Of the But
Treasury law TO equele the receipts and expenditures
Of tho government - much possble and to do thar