The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-11-24
MONEY MARKET.
Tuesday, Nov. 23-B p. M.

There slight improvement In quotations for stocks
to-day Compared with prices current yesterday Afternoon
there advance in Ohio SIS Of per cent Morris
Canal u; Canton AZ Norwich and Worcester, u; Lon
Island, ii Harlem, H. Reading Bonds fell of ~ and
Reading Railroad Is Farmers closed without altera-
ton
At the second board there was an improvement in
Pennsylvania SIS Of per cent; Harlem r. r. ri Nor
wich and Worcester, u; Canton u; and Resdng1&.
The position of financial affairs throughout Europe,
and the stability of money markets being strin-
gent sometime to come sufficient to force the banks
into contraction in their operations, and the utmost
degree of caution In their discounts Instead Of loanng
largely upon fancy stocks would be well for them to
keep clear of all speculstions Of that kind We stated
yesterday that two three banks in Philadelphia
loaning largely upon Reading Railroad stocks by which
they were aiding combination engaged In cornerng
that stock for the purpose Of initiating prices 1t matters
very little how much of this business the regular specu
aors of the street carry but the banks devate from
their legitimate line, when they engage in anything of
this kind The stockholders of these Philadelphia banks
should look to this In time The Girsrd and the Far
and Merchants banks the institutions we
refer to.
There has been but moderate demand for Exchange
for the French packet leaving to- morrow wednesday,
The New York will take out large amount in French
CON- five franc pieces We quote bills Paris at 81 2sZ
ST 221s. Amsterdam 40 a 4O,1. Hamburger, s5X 80.
Bremen, 1874 a79.
We learn that Col Robins Of Mississippi one Of the
trustees of the Vioksburg Bank passed up the Ohio
river, few days SINCE his way Europe the p.
pose Of settling the repudated bonds that State This
is rather doubtful
Navigation on the Wabash and Erie Canal has been
opened as far south Lodthe mouth Of Coal crsek-on
this great State work. The canal boat Planet reached
Lodi from Toledo on the 27th ut and marks another
era In the history Of the progress Of this canal The
lower division Of the from Covngton to Coal creek
making fourteen miles has been finished and brought
into use since the canal passed into the hands and
der the charge the Board of Trustees brings canal
navigation to point only htysix miles north Of
Hsue, and from that point to Terre Haute the whole
is under contract and the work in progress.
The city of Boston has been authorized to
notes Of the city, bearing interest at the rate Of six
per cent per annum payable semannualy and for any
term Of time not exceeding three years. The money
thus raised is to be towards the completion Of the
water works.
Interest at the rate of per cent per annuu will
be paid to the stockholders Of the Hudson River Rail-
road Company the thirty per cent. Of the capital
stock paid in. Another instsment Of ten dollars per
share has been called making In the aggregate forty per
cent equsl to 81 200 000 upon which interest of
per cent will have to be paid for indefinite Pc
Rod We cannot conceive what this company want
Of so much money the expenditures have IS yet been
trihng, and the only for calling in the
insalments rapidly Is to It, and compel the
eubscribsrs to hold on. The Hudson River Company
are calling In their instslmsnts faster than the Erie
there is something very extraordinary about this The
stock Of this company has within the past week been
given away in Wall street. the original subscribers losing
thirty per cent rather than keep the stock and pay up
the balance.
The returns Of the banks of New Orleans showing the
condition of each institution the 30th Of Oct last
present the annexed statement