The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-07-01

city. At the first board Penn SIS went up per cent,
Reading u. stoningtou X. Farmers Loan fell of per
cent, Harlem q, Long Island u, Norwich and Worces
terA. Treasury Notes closed at Yesterdays prices
At the second board there large sales Of Harlem
at decline Of u per cent Canton declined per cent
There has been a fair demand for Sterling Exchange
for this packet aud prices have been pretty well sustain
ed We quote bills on London at 6H per cent pre-
MUM on Paris, ST. 80 q ST. 3lk.
The receipts of the Morris Canal Company from tolls
from the opening of navigation to the of the third
week in June this year. exceed those for the
ponding period in s4o, upwards of ten thousand dol
lars being at the rate of teen hundred dollars per
The receipts Of the Long Island Railroad Company
are daily increasing. and the expenses decreasing A
very important reduction in the expen of the
company is in contemplation
We learn that the assignees of the Commercial and
Railroad Bank of vicksburg will make report to
the stockholders Of the condition of the affairs of this
corporation and surrender take its station again
among the institutions Of the country under the man.
sgement of board of directors and officers Wnen
the stockholders find that the assgnees nearly set
tied all the claims against the company and have pre-
served to the stockholders the railroad nearly the
entire capital of the bank the large annual salaries paid
to these gentlemen will to be subject Of
plant.
If we not much deceived by figures the report of
show that this stock which the knowing have been
buying for long time at low prices is intrinsicaly
very valuable stock and under good would
be made to remunerste its holders with dividends
in this company should take courage when
they that the Stonngton railroad which few years
ago considered worthless, has been, by good
agement made capable of paying dividend its stock
holders.
The Farmers and Planters Bank of Baltimore has de-
cared dividend Of three and a half per cent for the
last six months.
The Union Bank of Maryland has declared dividend
Of three per cent, for the last six months.
The following counterfeits have recently made their
appearance =
SIS on the Andover Bank. Mass los; ON the Cayupa
County Bank, NJ Y los on the Farmers Bank Gene
va, N. Y. 3s on the Eagle Bank Providence. SIS en-
the Bank OF Virginia Is the State Bank Of Indiana
rs on the Union Bank of Tennessee. 5's the Amer
can Exchange Bank SIS the Lafayette Bank Cincin-
natl 2s 3s and SIS on tho Haverhill Bank, Mass 3s
on the Millbury Bank, Mass SIS the Albany City
Bank. los on the Mechanics Bank of Burlington.
We understand that the trustees Of the of Ports
mouth, Virginia have purchased the Portsmouth and
Roanoke Railroad from tho board public works of that
state under the act at the last the
gsature, for the of $5OOOO upon credit of SIX
years. and that they sold the road 10 Nessrs Hem
shaw & Co. Of Boston.
The new company will Immediately lay down I rails
from Portsmouth to Weldon, and will also extend the
road thirteen miles further In order to connect with
Raleigh and CASTOR Railroad.
From the first Of January to the first of June ls47
there transferred to the Comptroller in trust for
the redemption of circulating notes in the free banking
department. stocks of the State of New York. amount
ing to the Of Sl,s5OOO0; add New York stocks
hand, January l, ls47 72s45-total of New York
stocks, S6,322,s45; there also bonds and mort
cages, $50 265 40; stocks of other States $l772
7Ol 81 follows United States SIS, $55 900; United
States SIS, $4,000; Indiana, $4,000 Alabama $34 O00
Arkansas 900; Illinois, S643,666 61 Michigan.
S4s7O33 CO. Making the total amount Of securities de-
posted in the free banking department. for the redemp
ton Of circulating notes, 1904, $40 81.
The following banks have been established since the
first Of January viz State Bank Saugerties Ulster
county; Farmers Bank, Nina, Chautauque county;
Northern Bank of New York, Madrid, ST. Lawrence CO.;
Bank of Bainbrdge, Chenanao county; Atlas Bank Of
New York, Clymer, Chautauqus county; Merchants
Bank, Elery, Chantauque county; Commercial Bank
Friendship, Allegany county; American Bank May
vile. Chautauque county
The Commercial Bank Of Albany and the Bank of
Rochester are making arrangements to continue their
business, after the expiration of their charters under
the free banking system
In less than six months nearly two millions of dollars
OF New York State stocks deposited with the Comp
troer Already about quarter part of the aggre-
gate debt Of the State has been absorbed rs securi
Of the State The beauties of this system of bank
Ing daily illustrated and ultimately all the banks in
the State must under its operation. As fast rs
tae charters Of the Safety Fund Banks expire they
adopt the system, and continue business without
the slightest interruption.
The Legislature Of Pennsylvania, every year is be-
sieged with applicants for charters to establish banks
By adopting system similar to the Free Banking Law
of this State these banks could be formed under it,
TIT II cnvld ba lilo MFR and
the cid system gradually done away with Such sys
TEN would be particularly advantageous to Pennsylva.
MIA Of the magnitude Of her debt while it
would those who compelled in the way Of bu
ness to give these institutions or less credit 1t
would relieve the market Of vast amount of stocks,
which weigh upon It, and make 1t available to capt.
tasts This is subject for serious consideration by
the next Legislature Of Pennsylvania, and hope it
will receive favorable attention OF all the banking sys
tens which have from time to time been tried this
decidedly the best in every particular.
The whole line of the railroad from Saratoga Springs to
WHITEHALL in Washington county, N. Y, at the head Of
Lake Champlain, Is under contract and the
work will probably be completed to accommodate
the next years travel at frthest by the LIST of July
S4s The road to be of the most solid and approved
construction. This will BIO profitable road without
doubt Besides the lines of packet boats the Cham
plain Canal there are six eight different stage
coaches in constant employment to convey passengers
to and from Saratoga and the Champlain steamboats,
good railroad will attract still more travel to the
North by way Of Whitehall and the Lake When
the present awful railroad from Troy to Saratoga read
with good sod rail, It will become favorte route to
Montreal, Ogdensburgh, &c. road is contemplated,
too, from Whitehall to Rutland point on the
route Of the Rutland road-a distance of 30 miles
which will make q route from Whitehall to Boston that
way very little II any longer than by the way Of Troy
and Albany.
The entire track Of the New Haven Hartford and
Springfield railroad with the exception of about four
miles between Hartford and Berlin has been relad with
heavy 7 rail A difference Of thirty minutes is made
in the running time between Hartford and New Haven
and about hour in the running time through. The
line between New York and Boston, via. New Haven