The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-10-02
MONEY MARKET.
ThlrsdaY. Oct. 10 PM.


There very little done in the stock market to-day
The operations confined principally to Reading
Railroad, which advanced about 4 per cent.
At the second board there was further improvement
in Reading, with sales to some extent. Harlem and
Morris also advanced fraction.
We hear from authentic source that tho Lewis Co.
Bank has egan commenced business, under the most
favorable auspices fifty per cent Of capital having
beeA paid in, and large majority of the stock is
owned by men Of wealth, Lewis Co. being of the
very bss locations in the State for bank Of small CAPT
tai The board Of directors has been and
Lyon. Esq, has taken the financial management of
the institution and long he remains, with fiscal
talents well calculated to inspire confidence the public
have guarantee that the bills WILL at all times, be
equa! to geld and silver at ito counter.
The board of commissioners of the Hudson River
Railroad" have o1icially announced that the "rver
route has nut been abandoned. This is from high
source, and is Of entitled to general belief but
we are disposed to look upon this official
more bubble than any thing else. As regards any
action Of the board Of commissioners" the assertion
that the river roste has been abandoned ma be
founded bot we learn from authority something be
yend impressions that individually the commission
ers have given mp ell hopes filing the stock the
Psny according to the spirit Of the act granting the char.
ter. We have doubt that the section which requires
the subscription Of three millions Of dollars before
the lst Of March, is47, forfeiture Of the charter
viii be evaded, preserve the act and keep il H.
existence for the purpose of opening the
future tne If the capital be raised It will be very
easy to keep the charter fictitious subscriptions
be made by placing in the hands of those authorized to
act checks other representative Of funds for
the full amount required.
There object at the bottom of this movement
the part of the commissioners They would not like to
have believed at this moment that they had abandoned
the river route dreamed of doing they
making Efforts to get into the direction Of the Harlem
and wish 10 make it appear that the river will be
constructed If they cannot make such arrangeme
with the Harlem they have in contemplation II Is
hardly worth while TO enter into the merits or dement's
OF the Hudson River Route" or to endeavor to show
Whist the prospects in favor Of against filing up
the stock II 10 sufficient say that the books wer.
OPENED the LIST of September, and far az We can
Learn not single dollar subscribed ont of the c;,-
Gle OF those whose have been so conspicuous in
connection with tho charter. That's enough The ides
of huildng railroad the banks of the Hudson river
from New York TO Albany is supremely ridiculous
that forbccr further comment 1--WE cannot do ms.
tioe 70 the sutjectD
The public journals Of the United Kingdom of Grea,
Britain and Of the United States, have, for time
pas been full Of prophecies to the probable result OF
the immense railway spcculstions which have been
going in England, and the effect upon commercial
and financial affairs II has been frequently asserted
that the difficulties likely grow out of the Withdrawal
Of such an immense amount Of money from the channels
Of commerce. would be required for deposits with the
accountant general would seriously affect business and
that the panic which must be created in the money
kss would embaass the mercantile classes and tend TO
sdsngero"s arrangement of every thing connected with
commercial matters We extract from the
London Morning Herald received by the Great West
ern which takes different and much more favorable
view Of the question: q Wow which we coincide with
1t gives another compilation to the subject and must
force conviction upon the minds of many who have here
tofore entertained a different opinion.
We think the financial part of the railway question is
bexnDn TO be better understood than was before the
rubject of the deposits to be satisfactorily dis
posed Of No acquainted with the ordinary opera
tons OF our monetary system ever imagined that any
difficulty would attend the transfer Of the deposits The
only evil being thet large amount OF spita should
general Even the banking publications, which were
altogether oopo to the railway movement explained
ut once that the difficulty about which much was
said had foundation except in The fears OF those
did not view the question correctly and tbs result has
shown that those who expressed these opinions
the right new difficulty Is now, however made the
subject Of discussion II is said that the money likely to
be csiss mp by the various companies who have obtain
their acts during the ssxt year, viii net DO forhoen
ns wriser IA Vie Bs~hvs Msssssas tor Ne prsssss