The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-09-30

There has been slight Improvement in most of the
State stocks, both dividend paying and delinquent
This advance in great measure be attributed to the
favorable advices received from the seat of war and from
Mexico in relation to the anticipated difficulties grow
ing out of the annexation of Texas The advance has
also in been caused by the speculative move
ment made in the fancy stocks and the Improvement in
prices for these securities. The dividend pay
ing state stocks, usually advance in price as
the interest them accumulates. The abundance
of capital seeking investment is another of the
rise in quotations for these stocks such stocks
u 6s, New York 6s and rs, Ohio 6s Kentucky S.
and New York City stocks among the best invest
ments in the market.
The holders of Pennsylvania State stock in Great Br
tain complain very much of the conduct of the Legsla
ture of that State in paying only four and half per cent
interest those who their dividend certificates
into stock. The Legislature of Pennsylvania has made
every effort to restore the finances Of the State to sound
condition. and to raise sufficient 10 meet the cur
expenditures and the interest the public debt TO-
which the members deserve great credit under all the
circumstances but the reservation of one half OF one
per cent the conversion of dividend certificates into
stock and the reservation OF quarter per cent from
the annual interest paid on Its own debt may justly be
characterized, as being altogether unworthy Of such
State as Pennsylvania By the laws of Pennsylvania,
there is tax of quarter per cent the income from
all stock investments in the State this law is enforced
upon its debt The State agrees to pay interes
its stock of five per cent per annum, but the stock
holders only receive four and three quarters per
two and three-eghth per cent semannually. 1t is not
surprising that stockholders complain of these rifng
exacons, when they bear upon their face intention
reduce the dividends due the stockholders in every
possible way II possible the Legislature Of Pennsyl
vania may, when its revenues become more ample be
liberal in its financial operations public well
private bodies very often commit acts in their poverty
that they would repudiate nnder other circumstances
The financial condition Of Pennsylvania is rapidly
proving and trust the of complaint
will be removed the State becomes able to be
Just to its creditors.
The amount of tolls received the Pennsylvania ca
nails and railroads up to the first Of September this year.
$s07 1872, being increase Of $4750 the
responding period Of last year. and that Of
ls43. The amount of tolls received the Delaware
division Of the Pennsylvania Canal for this Sep
tember lst ss5se6 against $67 1893 to correspond
ing date last year. showing increase Of sls los
nearly twenty per cent
The financial condition Of Maryland is rapidly improv
ing and not the slightest doubt but that the L.
gslature will at its next session. agree upon some day
which to payment Collectors of State
have been procured in all the countless and far they
have been very successful in their collections Pay
ments in the first three quarters of the year.
of the interest the public debt have exceeded the in
ted that the collections for the last quarter will be
tended with corresponding results The efforts Of the
present executive Of the State to redeem its credit have
been untring, and during his administration expect
to Maryland take rank with Pennsylvania as a sol
vent State
There is very little change to note in the progress
made by the other delinquent States Of the Union to
wards redemption of their credit, and very little can be
said in relation their financial condition, until the
meeting of the legislatures The prosperity of every
class of citizens every section Of the country is
great and there has beensuch rapid increase in the
of the States generally that feel very conf
that something will be done this year towards
exrcatng of the States from their financial diff
cules, than in any previous single season We cannot
look for immediate resumption by Indiana, Illinois,
Arkansas but expect to moro favorable report
of their finances than has yet been given: and some
statements from their legislatures giving encou
ragemsnt their bondholders than have yet been given