The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-06-27
MONEY MARKET.
Thursday. June 26-0 p. M.

Inc STOCK market is becoming more depressed every
day, and quotations steadily declining. The trans
actions in the street to-day very limited and opera
tors appear little disposed to do any business at present
rates. Prices have reached point, below which many
supposed impossible to co. while the bears selling
in the street at present prices anticipating further de-
cline. The market is in very peculiar condition. and
has sufficient confidence to operate to any extent
Long Island fell of per cent Canton Norwich and
Worcester ! !; Stonington Erie Railroad ]; Morris
Canal Farmers Loan East Boston t /; U. s. Bank,
Harlem and Pennsylvania Elves, closed firm at yester
days prices.
Counterfeit one dollar notes. letter D, on the Mohawk
Bank at Schenectady have made their appearance The
engraving and ragged and the general appear
of the bills bad slight examination only need
ed to distinguish them from the genuine.
The Norwich and Worcester Railroad Company have
declared semi-annua dividend of three per cent paya
BILE on the LIST Of July.
The receipts Of the Western Railroad Company for the
week ending the 2lst instant this year. compared with
last, show quite an increase
Week ending June 81 1874. isi5. liner
F P,s;sp; 77,s ssss is,.
sla,slo lsAes 1853
This very respectable increase, but was produced
by merely temporary causes. The Odd Fellows cele
bration in Boston the 10th instant attracted strangers
reCelptS
were much increased in consequence.
The receipts of the Reading Railroad Company for one
week in June the years s4a 1874 and ls45 were as
annexed
PHILADELPHIA Asp READING RAILROAD.
wek ending Jssss 49, s3s !. June e. :;
Coal transportation, tons a5s sl7s sSys
The receipts for the week ending the 2lst nst this
year. exceed any previous and show increase of
than hundred per cent those for the COR
responding week last year. This is increase largo
enough to satisfy the friend Of the work. and
sufficient to give the company income larger than
their greatest estimate
The people of Ohio have imbibed ltc of the rail
road excitement of the Eastern States, and have con-
temptation several lines running into the interior of the
State The Mad River Railroad is rapidly progressing
tits completed thiryeght miles and the local trade
for that distance meets the expectations of its
friends. The receipts for week in May this year
amounted to SI0l9 o. against $5e5 As for the CORES
pondng week last year, showing increase of nearly
one hundred per cent The entire income from the road
in 1884, 0OO Of the receipts reported for the
EEK in May alluded to- $3.50 43 for freight alone
and that chiefly for expectation The rich of
the interior of Ohio must be rapidly developed by
railroads running in every direction through it. than by
canals and the prospects Of railroads in Ohio being pro
ductive are so atering that Eastern capitalists are in
vestng large in their construction. The rapid
growth of of the western cities merely from natu
raj advantages has surprised every one but
ticipate still more rapid Advancement when artificial
facilities perfected connecting the principal places
and making the communication expeditions and
less expensive
Several Of the Western States have contracted
immense debts, for the purpose of construc
ting immense works of public improvement Some have
been suspended in half finished state while others have
been completed The State Of Ohio has, amidst all the
revolutions in the finances Of the State and in the com
mercal affairs Of the country steadily progressed in the
construction Of its public works, and is reaping
many Of the benefits of them Completed at an immense
cost and in the most exravagan manner they have not
until very recently Afforded the trng revenue to
the state but the prospect is very encouraging
and by udicous management, the public works will be
a great source Of The State of Indiana has
contracted large debt without having placed any of its
works in condition to afford Illinois has be-
come deeply involved in attempting to carry out its sys
tenn of public Improvement, having expended millions in
half finishing its lines of canal About ten years SINCE
the Legislature of Illinois passed law authorsng the
construction of canal to connect the waters of lake
Michigan at Chicago, with the navigable portion
of tho Illinois river at Peru distance of ninety.
five miles, Loans made for the purpose OF com.
plotting this great work. and the extravagant expen
of the State government having been exhausted
after the line was put under contract immense
debt having been contracted and the State credit
reduced below par, funds to Continue the work
could not be procured, operations upon II ceased,
and the State publicly acknowledged the in.
sovcncy OF its treasury. Nothing Of consequence
has been done upon the canal for five years,
and the portions partly finished have been rapidly decay
ing and until very recently there appeared little pros
pect Of operations the work being resumed. At the
last session Of tho Legislature, successful efforts
made to raise loan to ensure the completion Of the ca
nal and movements have already been made the line
to commence work at Contractors are on the spot
and the Canal Trustees are at Chicago arranging for an
immediate renewal Of activity. The importance of
this canal to the country generally ana to the section
through which passes particularly, can hardly be re-
alised. The rapid growth Of Chicago with ali tho dis |
advantages IT labored under in not having free com
munication with the Interior is evidence Of what
may be expected which this canal is completed opening
the interior Of Illinois to the navigation the lakes and
counun uc ator h. ,v~s~~ ~ruh