The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-10-16
MONEY MARKET.


AAurSOoys VCus 1os-O ts M
The stock market continues very much depressed and
prices without any very material alteration Money is
abundant and first rate business paper having but short
timo to rum is freely discounted by the banks, but
they do not appear disposed TO make loans upon
stock security to any extent We are glad to
such degree of cautiousness ON the part of
banks, as 1t tends to check any expansion of move
ment and confines their operations legitimate
channels There evidently great fears entertained
by the managers of banking institutions in rela
ton to the operation of the new fnancial sys
tenn Of the government, and they appear deter.
mined to place themselves in position as imprpgn
BILE possible. The independent treasury bill will 90
into operation the LIST Of January lsi7 modern
6nanciers know what will be the effect Of that
act, combined with the treasury in circulation
upon the finances Of the country, and the currency
generally than the in the moon and in their igno
rance they know not which to turn what to do
There has been fair demand for foreign exchange
for this packet notwithstanding which quotations for
sterling have slightly declined. We now quote prime
bills on London at sh per cent premium on Paris
at 5f3Ii4 $780,
The tolls received on the public works Of this State
for the first week in October this year and last and from
the opening of navigation to the close of the first week
in October in lst5 and 1916, were as follows -
NEw YoRx STATE CASALs-AMouNr OF ToLLs.
For the first week in Oct ls46. $lO4,35l 20
ls45. .......... 95,o01 "a
Increase. .......... $9,34s %
The total amount of tolls received on all the New
York State Canals from the opening of navigation to the
close Of the frat week in October, lsa6,
was. e1,995,5l5 90
ls45. ........ l,849, 100 SO
Increase in 1916, over 1915. ...... $l47,4l3 80
The weekly increase, the advances, grow
ing larger and larger and for the month of November
this year have doubt the receipts will be very
large compared with those for the month
The anxiety to get produce from the interior to the
board increases the time for closing the canals ap
proaches, and have doubt but that there will be
great rush between this and the LIST Of December
The Fulton Bank has declared dividend of FIVE per
cent for the last six months ayable on the I'd of No
vember.
The Bank of New York four per cent payable on the
I'd of November.
At the annual election for directors Of the New York
and Erie Railroad Company, the lath inst, the fol-
lowing gentleman were elected Benjamin Loder, Ste
phen Whitney, silas Brown, Henry Sheldon, Daniel
Miller Stewart C. Marsh, Henry suydam, Jr. William
Dodge. Shepherd Knapp, Samuel Marsh, Robert L.
Crooke, A. Diven. Of Elmira, John Wood, Thomas
Testop, Corneliv.s Smith. Thomas J. Townsend Homer
Ramsdell, of Nevvburgh.
At meeting of the directors, Benjamin Loder was re
elected President and Stephen Whitney Vice President
both unanimously.
This important work is going ahead rapidly in its ex-
tension, aud must be- before the lapse of many years. in
active operstion from this city to Lake Erie.
The tide of travel on the Mohawk and Hudson Rail-
road ia sR the increase The following are its
inga for the week ending Oct 7th:-
MoHAwK AND HuDsor RArLRoAp.
PASSENGERS. $3.50 %
Freight. ...... ..............., ll3 81
sq,7as 50