The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-07-05

NJ Maurceau, his Medical Office, l2s Lbertx street. New
Ff Fisher RsR%oad 9s Geo Reds Troy
b transmitted By nail ri f'
MONEY MARKET.
Sunday, July As r. M.
The stock market during the past week has been ex-
ceedngly Inactive and prices have been sustained with
great deal of difficulty Some Of the fances have hue
tuated two per cent, but the closing prices COM
very oraby with those ruling at the close OF the
week previous At this of the year the market
is usually quiet and very important variations are
experienced There nothing at present in the pros
pecve calculated to produce any depression
in prices the prevailing impression is that upon the
opening of the fall trade sha have very active bu
siness in stocks, and a very material Improvement IN
prices There is undoubtedly wide margin for an ad-
in of the ncies and compromises are the
order the day should be surprised to some
Of them suddenly emerge from the obscurity in which
they have long existed and take rank again among
the paying class Independent of movement OF this
nature there steady improvement going on in every
public work and in every species Of property SO that
these stocks gradually improving in real value not
withstanding the depreciation of the market value.
Holders should therefore, look closely into the affairs Of
these before they submit to any sacrifice upon
their supply Many of them are much more valuable
than they appear to be.
At a meeting of the stockholders Of the Vicksburg
Railroad and Banking Company, held in Philadelphia ON
the LIST instant it stated that arrangements had
been some progress to combine the interests Of
ell parties ald by compromises to bring the affairs Of
that institution to close to settlement. 1t was
proposed to apply one half of the shares of the company
the absorption of about three millions of debt The
creditors to surrender their claims and receive
equivalent twenty thousand shares of the stock More
than millions Of the debt have already been surren-
dered upon these terms and about six thousand five
hundred of the twenty thousand shares Of stock
The vicksburg Railroad is fifty -four miles long. and is
doing large and productive business. The net profits
in 1916 $4,000 The real estate and the other
sets of the Bank have within the past two years i'm
proved very materially There is wide margin for an
improvement in the management and expenditures Of
this concern. The salaries of the three ass.gnecs
for many years past amounted to "a 900
aud the expenses Of the railroad have annually been
is estimated, 500 900 more than really required saw
ing of $45 600 per be saved to the company
by proper reduction Of these items.
1t remains with the stockholders, whether the above
arrangement will be carried into effect not. The
creditors have sgned their willingness receive the
stock in payment for their claims, and soon the
surrender the required number of shares
the settlement win be made proposed. The
will then be completely clear Of debt and its net in
be applied exclusively to the payment of d.
vidends. As the bank and railroad stand, they
Of earthly benefit to the stockholders but very
profitable to the assignees, who make small fortune
out Of them every year Some arrangement some COM
PROMISE similar to that proposed above will have to be
made before the stockholders realize the first cent
from their investment and they had better osomehng
of the kind before the assgnees absorb all the assets In
the way of salaries. &c.
The annexed statement of the trade in China during
tl,o Ia faka nha
British government Trade in that purt of the world
appears to be in prosperous condition.
BRITISH TRADE IN CHINA-ls46.
Our trade with the Chinese is still, however, In that
as probable result of the opening Of four ad
tional ports giving direct communication with
the cheap water carriage Of the Great Canal the Yang
Kang and the Yellow River with Its most popuous
and busy provinces of the north and centre The dis
turbance and delay of commercial operations
sary incident to the breaking up Of old relations and
the formation Of have not yet been surmount
and there Is also to believe that neither
the Chinese their barbarian customers have yet
thorough comprehension bearing Of their
laws and regulations upon their interests. We
both yet struggling slowly towards knowledge Of how
regulate our intercourse so to make it most
profitable to both Already seems more than probable
that the Chinese government will be compelled to rscog
Mise the opium trade only fort he purpose Of obtaining
control over It, The absolute prohibition cannot
be enforced, and might well not exist Everybody
the drug and nobody thinks of enforcing the law
against it, exceptas of extorton And sde
|
high of the import duties teas at home grows
stronger acquaintance the facts increased.
Not inclined to accept the estimates which
have hitherto been most prominently put forward In this
country Of the probable effect of any reduction of the
teaduty at all compatible with the prevervation of
system upon its present footing but the IA
clity with which demand for tea gradually increasing
in extent, has hitherto been supplied by the Chinese
growers, certainly favors the assumption that they
would meet upon terms profitable to merchants
such an increased demand part might be
pected to follow moderate reduction of the import duty
|
reduction Of the duty and corresponding increase oil
consumption to be made at the end Of few years
One of the most remarkable features of the present
of British in China is the steady and
rapid growth of the trade Of Shang-hae. The trade
r.t por r hsr nort Il Slightly
At Foo chow-foo, still farther north, there Is now
hardly any trade at all nGr Is thss BY either
or foreign merchants AT Ning-po some l,o0O miles
north of Canton the total value OF the and ex
IN the previous year. But at sbang-hae, the most
northery of the ports open to U.s. the trade is
pdly increasing and II is nov generally expected that
that will, in the Of few years become the
NJ the commsrc between China aud Europe
and America The following Is n statement, from the
nots of the different eonsulates declared or
mated value Of the imports and exports In British
sells four Of the ports in ls4e From the remaining
rentv there 10 trade. The values taken the
exchange at Is al to the Spanish dollar being the
| rage exchange OF the year -
Imports. ''' Erper,s.
Canton. ...."... A2,2 3l6 Ls,3S2 o2l
A Hmsy iBni,i;sh' and r cresn) 100. 5S7S Ss1sS
Shangbae. NEUTRALITY-SUSPICIOUS.. $1,000 352,5so
Shang haze opened in November, l843. The total
value Of the Britsh cotton goods imported there during
the three years from November, lS43, to December
1916, 6 872ss5, aud Of the woolens, E4l4 020.
These the principal articles of import exclusive of
OPIUM which OF does not appear tn. accounts.
The pri ,cipa articles of export silk The
value OF the former exported in the three years was
and Of IT. aaisa sso In the first year
472902; and in the last, 24s 6si. Woolens not