The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-03-11
Constlp~tlon or the 10 ,vel.. or s,ostI var q ss
MONEY MARKET.


once and general ''''' NO. " i wirrfAa WRIGHT
MONEY MARKET.
Tuesday, March 1O-6 r. M.
The stock market continues very heavy, md quota
tions gradually but steadily declining Long Island
FELL OIL per cent; Canton, Harlem, Norwich and
Worcester, Pennsylvania SIS, l Farmers Loan, /.
Reading Railroad went up and Morris Canal closed
firm at yesterdays prices.
AT the meeting OF the Board Of Aldsrme en-, Monday
evening" report from the committee in favor Of the
construction of the Hudson river railway, slsng the
banks Of the Hudson river to Albany and that it, prao
ticaby recommended to tn, attention Of the Legis-
lature of this State and that they pass the act pend
ing to that effect lost6 in the Affirmative, and In
the negative. This good evidence that the
ton Of such road il not considered feasible The dele
gates to the Assembly from this city, must consider this
the voice of the people Of this city few individuals
rich capitalists owning landed property the line Of
the contemplated river road about the only persons
interested in Its construction and they only interest
ed because It will directly bsns6t them by ncrsAsng
he value Of their property These individuals and their
friends might possibly subscribe about ave hundred
thousand dollars Of the six eight millions capital
CURED to build the road, and there the whole thing
would STOP OF all the places the east bank of the
Hudson river pr obably Interested
interested in the construction of the road from New York
CITY to theirs, and would not aid in extending It mile
beyond leaving for the people of places above Pough
keepsie to carry on, they wish a connection. II 10,
however, very doubtful whether the road would BE-
commenced the event getting charter The amount
required to ill the capital stock immense and cannot
by any possibility, be filed in this city Our capitalists
generally have confidence in the and cannot be
induced to forward and fill the subscription. We
ka,v :rr
ced in nlng up the three million stock Of the Erie
Railroad Company, and after ali the efforts made, and
the general feeling favor Of that line II would have
been impossible, during the railroad exeiement
that then existed to have raised another million for that
road How is to be expected, then, that six
three millions Of dollars be raised to construct road
that has in reality any confidence ina road that
cannot by any possibility be produc tive should by
any possibility be built.
very great opposition to the Harlem Railroao
from those interested in the growth and pros.
periy Of Boston to the injury Of this city The exen.
sioD of the Harlem road to Albany along the eastern
line of the State would give opportunity tap the
roads Of New England and attract the trade Of that
section Of Massachusetts Vermont and Connecticut,
bordering this State, to this city II would make II y
port the market for nearly all the manufactures Of those
sections by giving them direct communication with i'll
such the Harlem Railroad alone can give This the
capitalists and commercial classes of Boston are aware
Of and consequently making great efforts prevent
it, completion. Whom the capitalists Of that section
ind their efforts unavailing they will b the hrst
forward and make nvsstm sn in the stock Of this
company
The Harlem Railroad the hands Of those who srs
determined to complete II in the shortest possible time
In spite Of sill opposition competition. Their line v
more favorably situated than any other In the country
and It would command the through travel between th
city and Albany. in the face Of the river any othsa
route because they carry passengers cheaper than
any other line, in existence In contemplation, sh
steamboats, the river excepted It has nothing fss
from the river route.
There is tso much sham legislation in this eounry1
Our Legislators should adopt the English custom Of
tering railroad companies Before charter grantee
the capital stock should be nled and ave per cent
the capital paid in. This would secure the co,
sruction Of every road chartered and prevent such n
peated failures have been experienced within th
past ton years in this and many other States In th
Union. The Legislatures would not then b at tn
trouble and the people at the expense Of getting up ra
road Charters for the purpose OF enabling spscustof
to swinde the community.
There must have been u isake in the ANNOUNCED
msDt male by hatcher paper, that the Senate Of Mi,
sssippi had by vote of H. refused to adopt RESI-
luton for the payment Of the Planters Bank bonds a.
appears from other papers that, the 18th ult tho
nate r. solved itself into Committee OF the Whole,
Mr. Miles Bill to provide in part payment for the Pia
tsrs Bank bonds BY appropriating the OF $sa 4o
said sum having been collected aeoount Of the sin
ing fund An amendment offered providing III
payment be made pro rata among the bond and cours
holders, which was lost The engrossment Of said
was then moved, and the ayes and being called
resulted follows :ayss H. 49, the motion VI
lost. On motion, the vote reconsidersd, In ord
that the bill might be recommitted to select CO.
mes with the view Of rendering II accep table, wh,
the following amendment was offered: Be ii furth
enacted, that the State Com missioner who Is eharg
with the collection Of the sinking fund be authors
and Is hereby authorised and required to receive in
ment any bond bonds. or coupon Of interest on
same issued and sold for stock in the Planierr' Bs
from any debtors to said sinking fund.-" which ado
ed; and on motion the bill amended, and ordered
be engrossed-ayss Is, noes H.
We annex table exhibiting the quantity Of cert
articles, foreign and domestic, imported into the city
New York. and also, the quantities sold by public s}
,ion and by private sale for the ten months ending
vember let, le45
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