The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-02-16

comparison OF the quotations ruling at the close Of
the market yesterday with those current at the close
the week before, shows decline in Long Island Of
per cent; Farmers Loan il Pennsylvania 6s4; vicks-
burg Morris Canal 81 and improvement in Harlem
Of 1t; Norwich and Worcester /; Illinois sal
An actual rupture with Great Britain with Mexico
would sink Of the fancies out Of sight; tu oil the
reports the bears can get up of warlke nature cannot
depreciate prices of any Of the railroad stocks the
brokers' books The principal railroad stocks, bought
and sold in Wall street. held at about their
tual present value. The Norwich and Worcester Rail
road dividend paying stock, is worth about
y tho company declare from the earnings Of the
road two dividends annum, of two per cent EACH
The Long Island will, without doubt, some time this
year. declare dividend The policy pursued by the
present board of directors Of this company is Of the
udicious character, and they have determined not to
commence paying dividends until the affairs OF the road
are in condition to continue them regularly. This
course will prove much beneficial to those stock
holders holding for permanent investment than diff
fsrent pursued Those holding these stocks
speculation all times anxious for the declara-
ton of dividend for the purpose Of producing tempo
rary improvement in prices to enable them realize at
any advance, regardless of the umae effect of any in
judicous movementso long they get out at pro-
fit Tho direction of the Long Island and Harlem Rail-
road companies, notwithstanding many members
are brokers and stock speculators have acted
more judciously and with more forethought than
the directors of the Norwich and Worcester Rail
road The Norwich and Worcester Company de.
clared and paid three semi annual dividends and then
ceased and the fact of their having assed dvd end
injured the market value stock than the pre-
vous three bene6edt In the first place. the first error
consisted in declaring and paying six per cent per
mum, when the net earnings were not over four and
the second, in paying any dividend when the floating
debt Of the company was large.
The Long Island Railroad Company have appropriated
all their surplus earnings to the liquidation of Their debt
and the increase in the appurtenancss of the road The
expenditures for these items have been very heavy but
it far better to use surplus in that way than in
squeezing out sicky looking dividends of one two or
three per cent. The Harlem Railroad Company have
adopted the wise and judcious course dividend
Of Ave per cent could have been paid by this company
in ls45 out Of the net earnings for that year
fortunately for the present sto ckholder declared but
the surplus earnings appropriated the extension
of the road the reduction of the floating debt of the
company. These two roads must ultimately be the
productive roads in the country They the cheapest
and divergs from the greatest city in the Union-two
facts sufficient to large gross and net incomes
The local trave. of each must from their location be
very large, which does away with all fears from rival
routes should be fixed principle in legisation that
two railroads should not be constructed between any
two points Restrictions Of any and every description
may be placed in any charter when granted in regard
to charges for passage freight &c. but it is very un.
just to give charter to q second company, road
between the points, after the first company have
expended millions on their road.
The Secretary Of the Treasury has for time past
been collecting rstui from the banks Of the several
States and Tsrrores up to the latest dates The NJ
turns received. have been prepared in report about
being made to Congress.
In the returns for lsal embraced, il believed
all the banks then in operation sxcsptths Free Banks"
in New York, two small banks in Delaware and three
in Ohio They had probably in circulation notes to the
Of six million dollars in addition to the
amount stated in the table.
No returns have been received Of the condition Of the
the ist Of January, ls42, from twelve small Free
ing banks:-
DsisWsre-Bank Of Wilmington and Brandywins, au-
thorized capital, 100000 Union Bank Of Delaware,
$500 0o0 Maryland Warrington County Bank, $ll2-
4sa South CaronaBank South Carolina, 81 900 900;
Commercial Bank, Columbia $500 900 Msrchants' Bank,
Cheraw, $4,000.
In lsal and ls4a. the banks Of New England, New
York. East Jersey, South Carolina, and Missouri, and
part those in North Carolina paid specie The banks
Of the other States with few exceptions stste
Of suspension the returns for ls4a lsl4 and u.s.
embraced it IL believed ell the specie paying banks In
the country except the two above mentioned In Della
ware one in Maryland. and three in South Carolina
CONDITION or THE BANKS or UsrfEp STATES,
according lei, rt'u'"' " isss. ''"x H. 1895
Bank, from which
ce,vsd "e'e sfs $50 Hs so