The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-05-22

wheeling May s.........l Ia feet q
fim. .,E May "a. ........ u feet, falling.
MONEY MARKET.
Thursday, May 2l-8 r. M.
The stock market continues very heavy and the pro-
liability Is, that decline to som extent will bs sxpc-
rienced Most Of this is attributed to the strin
gsncy in the money market Pennsylvania 5s fell of
per cent; Morris Canal 1, Long Island, III Canton Ii
Harlem, !; Norwich and Worcester. !, Reading. al
The sales to-day Of of tho fancy railroad stocks
immense. and principally for cash. There exists
real cause for this rapid decline We look for pres
in ,he money market, but present does not
such great falling Oh has been experienced
within the past two days.
The difficulties in the stock market more
the effect Of anticipated difficulties in money mat
ters than that Of those really existing 1t is very
doubtful what will bc the effect Of tho with Mexico
upon commercial affairs; and the uncertainty that hangs
political affairs generally, is rapidly destroying
alcohfdencs Prices for many fancy stocks rule very
low several Of them much below their real values but
there many stocks upon the MARKET and little
money IN the the operators cannot carry them
ard the bulls hold long enough to sustain prices
tho bears arc, therefore, able to press the market
down to the lowest point
by the arrival of the steam ship Britannia, at Boston,
from Liverpool. have advices from all parts Of Eu
rope sixteen days later than those received by the Cam
bra Our adticss are from London to the 4t and Liv
erpool to the 5th inst The news politically CONNER
ciay is not ofmuch importance, although highly favor
able. The money market had improved the smount OF
capital seeking had increased and tho rate Of
interest rusd AZ three and half per cent for the best
business paper offering for discount Quotations for cot
ton ruled about the previously reported and the
sales to the trade and to spectators larger and the
A.
was considerable activity but the stocks Of manufactur
cd goods hand wcrc large The arrivals Of American
produce and provisions had for sometime previous TO tho
departure Of the steamer, been unusually large, and
there very fair amount Of business doing. II
the impression in commercial circles that the bill
would soon become law, without dsso luton Of Par
lament Immense quantities of -four and grain in
bond, waiting the passage Of the BILL
The return from tho Bank of England for the week
ending the 25th Of April gives the following results
when compared with the return Of the previous week.:
e. e.
Public deposits. 26osss3 decrease. .Aoso7e
Other deposits. lie, 97sll0 decrease. .732s77
On the other side Of the account
Government securities. 10 52s0s5 decrease 42o, 800
Other securities - IL ss4632 decrease s52,070
Notes unemployed. 6,4sSl4o decrease 1850
The amount Of notes in circulation f2066 $40,
being an increase of f45s50; and the stock Of bullion
in both departments fl3705,s27, being increase
of f7ses7 compared with tho return Of the preceding
week.
The frost, shows an increase Of fS 4sc compared
with the same period
The railway excitement rapidly subsidsng II ap-
pears that tho whole amount Of parliamentary deposits
amounted to Tl4735D75. Tho estimated capital or ex.
pense Of contemplated lines amounted to f246 34
Established companies have been allowed to put in do
claraons under seal that the expense Of any proposed
works be betrayed out of money to be raised by
them upon the credit of their present surplus revenues,
instead Of paying the usual deposit.
large portion of the dollar notes on the Albany
Exchange Bank, in circulation, counterfeit Tho
only safety is in refusing all dollar notes this
bank, having for vignctte female and child standing
by her side.
Tho notes Of the White Plains Bank IS per cent
discount; and the Farmers and Drovers Bank Of Buffalo
10 per cent discount There unavorabe reports and
suspicious against the Lewis County Bank.
The Bank Of River Raisin Monroe Michigan, has made
assignment. is stated that it is very bad failure,
$4,000 900 Of the notes being in circulation
We have received the report ofhe Committee appoint
ed to obtain charter from the Legislatures Of Alabama
and Mississippi for the establishment of the great South
Railroad Company for the construction of railroad
from Charleston to vicksburg These States have, by
acts chartered this railroad company for the
objects in view.
The capital So 900 0oo divided into shares Of 500
cach which S. must be paid at the time of subscr
ton So at six months IS at eight months and So at ten
months afterwards and the residue the may be
called for by the company, not exceeding $40 share in
sixty days. Tho company is to DO organized soon
$500 900 shall be subscribed for which purpose books
OF subscription will DO opened
Tho company has all the necessary powers to con-
sruct USE and receive the income Of the road pepetu
H. liz - A1.h>
ma and Jackson Mississippi. with provisions to connect
with or in certain contingencies, to own, the
terms the links between West Point and Montgomery,
and between Brandon and Jackson and with powers to
acquire any connected road by purchase and with the
assent Of the proper authorities.
The part Of two per fund Of Alabama set apart
for this route by law of last year. loaned to tho
Nontg emery and West Point Railroad Company to aid
accomplishing that link The two per cent fund Of Mis-
sissppi, amounting to $500 o0o and most of
subject to draft the u Treasury. granted to tho
Southern Railroad Company on certain terms securing
its application, gift, to encourage subscriptions o.
stock. These terms
LIST. That the company be organized . That
Of stock equal to the fund subscribed in Mssis
sippi and either paid well securedand 3D. That the
fund be paid to tho company faster than equal
sums shall have been expended by the company its
road else that guarantees satisfactory to the Gov
shall have been given that will be faithfully applied in
making the road to which the act Of Congress appro
pirates the fund.
The Alabama subscriptions are to be applied first to
making the road in Alabama, and the Mississippi sub
scriptions first towards making the road in Mississippi
Other subscriptions may be applied to such part Of the
work the company may prefer Provision is made for
the immediate progress and completion Of the road be-
Jackson and Brandon and for Its becoming part Of
the Southern Railroad ompany q line upon their repay.
ing the expenditure to be made for its compilations;
which the State releases and transfers that
pany its entire interest in that road.
This road will extend from Jackson, Mississippi, to
Montgomery Alabama, direct distance Of 1903 miles in
and lo4 unilea in Alahnma total