The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-01-10
EDITORS CORRESPONDENTS
tFrom our regular correspondent


New YoRK, Jan. o, 1876.
The market to-day was again duh. Stocks were
heavy at the first board, with another decline on
most descriptions. The operation noticed in Erie
Railroad stock remains unadjustsd The commit
tee were unable to report, and the subject was re-
committed 10 the board. Il was agreed to discuss
the subject in full board this afternoon In the
meantime, much dissatisfaction has grown an on the
part Of the sui serbers for the new shares who have
paid the first instalment demanded Of them. They
contend that the present board Of directors, for
whom the large broker sold the stock "short, had
no right TO create stock by any mode whatever,
and throw il upon the market, by which means
their shares, bought in good faith, have deprecated
IN value, They paid in their money under the Ls-
lief that it to be applied TO the building ofthe
road, and that no more new stock could be created
beyond that provided for in the act Of the eglsla-
ture. Hence some Of the new stockholders talk OF
adopting some legal measures for the purpose oG
eleiting an explanation the part ofths directors
for their conduct Ii is rumorsd that counsel had
been consulted on the subjecl.
l have no interest in any stock Transaction, nor
is' vnIs by ghe -lsies or under the influence, Of
ary party shsirgsr Asa arrsssfoaian, G.sl 10
10 be my dslY 10 u,ioFi 10. i-. z.-v- CAR a. t.-
a. can ascertain them, on ts n.l.sl !. t,g
leaving you and your readers To draw conciusiona
No one doubts the importance Of The Ere railroad,
and II Is TO be regretted that any such speculation
should have taken place. Owing to the miqmanaga-
ment Of the former oissrs and directors Of the road
under the old charter, or the unamsndsd charter, the
public were slow in giving their confidence to the
new arrangement fearing similar fate might over
take their investments, however desirable the road
might be to the commercial interest OF the city and
State. Strong appeals were however, made to the
patriotism, Stale pride, &c, Of the people; meetinga
we're held among carmen, mechanic, and mer-
chants, and explanations made Of the great advan-
tages Of the road, il execuied-which no one can
question They succeeded in securing subscrip-
ions to the amount Of three millions Of doIlars
This, wth what has been expended, with some
six millions more, would no doubt build the
road from the Hudson to lake Erie. The addi-
uonal sum, presume, they calculated on raising
by issuing bonds and pledging the road, with
all its effects, far completed, as security for
their ultimate redemption. How far such project
may succeed, is difficult to forete Taking all the
circumstances Of the case into account I do think
il is due to the stoe kholders, to the public, and
to themselves that the present board Of directors
should come out and explain under what ercum-
stances, and for what Objects they have issued new
stock.
The Mercantile Library Society added LAS
books to their collection last yenr--iotal "a, 74O.
That Of Philadelphia contains about $4,000 vol
umes The next largest library is at Harvard
University, Mass.
Accounts from Sierra Leone, Africa, give appa-
ling recitas of the slsvetrade and of the desperate
resistance the part Of some of the armed slavern
Late dates from the Sandwich islands state that Mr.
Prtchard, late missionary there, had been appoint
ed English consul to Tahiti, and had gone on board
Her Majesty's ship-of-war Daphne.
| Six vessels have recently been chartered at this
port TO carry grain to the Mediterranean, and not
| to proceed east Of Naples. They arc to carry out
$4,000 bushels of corn and 40 200 bushels of bar
| ley already purchased. As much of this business
has been transacted through French house, it is
surmised that this large shipment Of grain is destn-
ed for the supply of the French forces in Africa and
will likely be landed at Agiers.
| About 1000 barrels (mixed lot) of Michigan,
Gcnesee, Ohio, &c. -four, sold last afternoon
and this forenoon atS5 IS. | heard Of a sale on
Change, of 900 barrels of Genesee at IS 81, and
Of another lot of 100 at the same price.
Small sales of pork are making at $40 for old
prime and sl0l for new sl3 for old mess, and sl3
so for new; beef remains quiet So for prime and
| 81 for mess.
New southern corn is held at g. 6s cents, at
| which sales are made; old at 7Oa II.
Tobacco dull and transactions exceedingly limit
ed. Hemp also dull, at $50 sos per ton FOR dew
rotted 100 barrels pot ashes, new, sold at 50 sII
sale OF 400 bushels Of rye is reported at a shade
under 80 CENTS RICE best quality, sells at "a so IS
l2i; from 200 to 300 bales of cotton sold to-day at
previous rates; tallow remains quiet at u a7'.
Stocks, as mentioned, generally declined except
the Erie railroad, which, at the first board improved
p, leaving off, at the second board, at co..
Exchange remains the same. So do freghts,
and dull at that.
The harbor at oswego, in this State, on Lake
Ontario, was clear Of ice; and the sloop E. Morgan
had arrived from the Canada shore at last dates
The Boston magnetic telegraph company have held
meeting, elected officers, and fixed upon tariff of
rates, viz: 25 cents for every Is words from Boston
to New York, or vice versa. The Philadelphia and
New York company, it is said, meet in this city
next week to do the same thing
"The seamen's Family Industrial Society" an
excellent benevolent institution for the relief of the
families and widows of saamen located in this city,
raised and expended last year over s., 900 for the
relief of persons Of this class in need.
No arrival clearance Of foreign packets 10 note
to-day. Outward-bound ships find it difficult to fill
up with freight. Mr., David Ogden is loading the
Venice for Liverpool, to sail on the 10TH She is a
little over half full.
The balls went off with great gee last night.
Nothing further, but remain, very truly,
MORGAN.
SHIP NEWS.
ARRrvED'-Brigs Black Hawk Para; New England, &c.
Laguna; schooners Caroline, Newber, North Carolina,
Union Fredericksburg; Swallow, Washington ". C.; Pa
cihc Franklin, Louisiana; =. S. Powell c. s. eager Will
mington, North Carolina 81 Pierre and Valiant Newbern