The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-05-11

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comparison Of prices current yesterday, with those
ruling at the close Of the week previous, shows decline
in Long Island of II per Harlem II Canton |;
Farmers Loan Norwich and Worcester II; Pennsyl
vania 6ves Reading Railroad 81; Morris Canal J. On
Monday last quotations in many instances and
two por cent above those current the previous Sa
turday
The money market has boon somewhat relieved; bust
paper has, within the past few days. been FREQ
ly discounted by the banks, and the rate Of interest IN
the street ID steadily settling down to reasonable
points This fact alone in the absence Of further una
vorable intelligence from the army of occupation must
improve stocks very much An expansion the part Of
the banks to any extent hardly be looked for
they have very cautious game to play within tho next
six eight months. We do not sec any very great
chance Of the surplus becoming reduced, unless
difficulties with Mexico should increase to such extent
that very large force both Of the army and navy would
be required for active operations In that event large OK.
pendures, the part of the government would be re-
qured and the surplus would be brought down to
moro reasonable amount 1t would be good thing this
surplus could be reduced by actual expenditures before
the independent treasury bill went into operation In
the first place. because II would partially the OBJ
jections many entertain towards placing much money
in the hands of officers appointed by the government
and secondly because would give better opporuni
ty for tho system to 60 gradually into opera
ton.
The banks of this or any other city in tho Union
dare not-commence expansion in the face Of these
changes in the financial policy of tho government
Whatever hope they might have entertained at one time
that they would defeat it, has doubt been abandoned
hc no RI N ham
the storm rather than make vain effort stem the torrent
We have had several precedents showing the ruin that has
followed between bank and State and have too
vivid recollection of past rsvusions to wish to the
6rst movement made towards another. We now in =
highly prosperous condition; the checks have receiv
cd from time to time have been rather beneficial than
otherwise they have averted any premature in6aons
financial commercial matters and confined things to
healthy state. The difcultes in foreign relations
may be but temporary. and may be moro speedily re-
NEEDED than present appears possible The only thing
Of any immediate importance, is deulty with Mezi
COZ although that appears very threatening and likely
to terminate in general at any moment, We cannot
resist tho impression that there will be very serious
collision between the two countries change In the
government Of Mexico WILL in all human probability, take
place soon in the common course Of events but would
be fastened BY collision between the forces the
frontier The party in power in Mexico at the latest
with the United States, but still il compelled 70 make de-
monstratons to that OBJECT revolution In that ifated
country Is, without doubt at hand-N may be
bloodsss one, like the last and may be advantage
Gus to the people War war; Paredes government
will be short lived. The mystery that hangs the
movements of Santa Anna and Almonte Il ominouA
Counterfeit $40 bills ON the Essex Bank Of Kesssvile
in circulation The safest way to avoid all counter
feits to refuse all bills Of the denominations counter
A. IA
very great experience to detect them.
The Merchants 4 Manufacturers Bank Of Pittaburgh
has declared semiannual dividend Of thrssan&shaf
per cent
The Exchange Bank Of Pittsburgh ssmisnnuAl divt
dend of three per cent
The Bank of Pittsburgh g centennial dividend Of
three per cent.
The Miners Bank Of Pottsvls has declared . semi
annual dividend Of thrseand-a-hal per cent
The Governor Of Michigan has vetoed the bill 70 ncor.
porate the Port Huron and Lake Michigan Railroad COM
pany or, II 10 called the Northern Railroad His Oh.
jectons applied mainly to the repeating clause, which
provided that ssr thirty years. the Legislature may alter
amend repeal the charter making compensation to
the company. This 10 considered by the executive In
effect irepealable charter and the because
after making compensation the State would acquire no
right to the road which would in that 60 to the nd
vidual propresors Of the land over which It passes.
We learn that sufficient Of the Ogdensburgh and Lake
Champain Railroad stock has been taken to authose tho
organization Of the company, and that will be done
forthwith. Thu road II in the hands Of Eastern csp
talsts who have the means and the energy to carry
through II 10 but continuation Of The great Northern
road running from Boston to Burlington, Vermont, via
Fitchburg and IL intended connect the manufacturing
districts Of New England with the Western country vie
he rreat Western lakes We have the slightest doubt
but that direct communication between Boston and Lake
Ontario by railroad viii DO perfected before the com
panies having charters to connect this city with Lake
Eke on the West and Lake Champain the North get
their lines under contract The capitalists Of this city
are distracted with tho rival routsseach has It, friends
but NOT the extent sucisntto guarantee SUGGEST An
amslgsmation Of interests would the completion
of one line at least and prove beneficial to the whole
Whereas under present circumstances, must patiently
wait the drainage Of Western trade by those cities
which are making moro successful efforts command
the immense Of the valley ofthe Ohio and isss
sppi The capitalists and merchants Of this city will
some day awake from their Rip Van Wrinkle Sleep merely
to witness the loss Of the most valuable portion Of
trade !,
There IT, perhaps no railroad at least in this country
doing such an extensive business at this time the Phi
ladelpha and Reading Railroad By the weekly returns
II will be seen that for several weeks past compared
with corresponding weeks in ls4A and s4s, the increase
has not only been exceedingly large, but the roccPs
have been very great The receipts for April, $780,
at the rate Of fifteen hundred thousand dollars
per annum.
PHILADELPHIA AND READING RAiLRoAp.
Week ending May 4, lsAa. May 40 Ny y 20
Business ....... .s1l 000 81 $l5lD ~ Sso,soa 40
Coal transported, tons. $500 ll,sl3 2s4ed
The transportation Of coal this rosd his season hss
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