New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-05-27
COMMERCIAL AND MONEY MATTERS.


"WEDNESDAY, p NJ.
In stocks today there was 10 particular change,
and there considerable activity Treasury Notes
were active with large sales a, 81 prem and one sale
was made as high 30 81 seller GO.
In bills thsra is fair business doing and the
rates steady AZ 767i for bes Sterling bills sale
OF large amount reported At H. Francs 3li
a53O
la freight there is not much doing, and the rates
are very heavy To Liverpool % Ga and Cd If not less
has been accepted To the Continent there IL scarcely
anything doing
From the Courier g. Enquirer Of Tuesday morning.
Mohawk and Hudson Railroad Co stock has advanced
to 10 per cent The Wslst interest is much in favor
Of dividend and will endeavor 10 control the coming
election 10 have declared. The prudent
managers In Albany (where nearly half the stock
ed think that as 500 900 Of the bonds bearing interest
at per cent fall due lst June the stockholders
have better legitimate dividend than the H.
quotation Of such debts They urge farther
tor withholding present dividends that the Company
half It's capal that the capital itself is million for
sixteen miles OF road that $4,000 will have 10 be ex
pended 10 laying the heavy rail six miles and far
Their considerable expenditure will be required 70 place
the passenger dspo in comfortable order and 10 pro-
freight depot which Ia indispensable 10 the con
nusnce OF the freight business and the went OF which
has already cost the Company considerable in damages
We should think that at the coming election the con
servatys policy ought TO be adopted. Certainly more
confidence would be given to the bona de shareholders
should such be the result.
We find on inquiry that 1t has not as yet been
the intention Of the stockholders Of the Albany aud
Schenectady Gate Mohswk) Railroad in this City ito
control the coming election as 10 have dividend de-
cared' stated in the Courier Enquirer in the srti
Gle above quoted though the sentiment ia strong and
almost universal here that 1t is the duty OF the Direct
ors of justice Stockholders and In view Of
the future credit and of the Company, TO
10 August next regular payments Of dividends
from the net earnings of the road first deductng suit
able contingent fund The parties Interested here claim
that they should no longer be kept from an income on
their investment when their road 10 earning ample
one The 500 900 of debt they say be met by the
negotiation of loan the bonds Of the Company;
that contracted for the construction Of the road
as was the rest of the existing debta OF which they
say ought be converted into capital stock at par and
which they say can be effected If for the eighteen
months such adlydend paying policy is pursued. But
If the plan of paying for large part of the cost Of the
road out Of Its earnipgss pursued they pros
pect of income to the stockholders and the anomaly
will be presented of Railroad the very best line in
the Union and which Is earning more than per cent
net yielding nothing to its propretors, most Of whom
In this quarter have held 1t for years without income
and to many Of whom 1t has cost above par
Most Of the stockholders here have entire confidence
in not all the Albany Directors and would not
change them If they could They know that there is
large amount Of the stock owned there-nost Of II
cent purchase at comparatively low price Knowing
THE however they still adhere to the fixed opinion that
the ability Of the Company 10 make the necessary ad
ditions and improvements will be much more certain
under the policy Of paying reasonable dividends which
has been successfully pursued by the New England
roads whose have been great this and who
have doubled their capitals for the payment Of debt and
Improvements after they were In productive operation
There IL prevailing error with many very subssn-
tia and judicous men, that Railroads should pay for
Themselves This in our opinion is not so. Their earn
ngs should at all times keep them in order and well
stocked and then after moderate contingent reserved
they should return to their propretors the whole of the
net earnings. Their cost should be represented by
their capitals permanent bonds and the latter con-
vered into capital stock whenever II can be done at par
which can always be effected where the dividends
amount to or moro per cent per annum.
The Farmers Il Mechanics Bank OF Frederic
Co Maryland, has decls ed dividend of n per cent
The Farmers Bank of 10y, semsnnual dividend OF
per cent. The assguees Of the Commercial Bank OF
Manchester, at Yszoo, dividend of 3 per cent
At Buffalo the banks are extending their circu
latOn and tor all departments OF trade except pIeHo
stus the money market easy. he exceedingly high
rates which Flour, Wheat and Corn have reached rem
der bankers dstrustul and considerable dcultyis ex
perenced In the negotiation of drafts based GA pur'
chases Of these commodities Prime paper is discounted
at per cent.
The Boston Post says there are sales of Essex
c. water power and land at Lawrence for e9i per cent
premium and Amoskesg Co. Manchester water power
land and cotton manufacturng) at As per cent advance
beside its extra dividends of surplus profits by creation
of new stock York or Saco Manufacturing Co. stock
is worth % and Merrmac ia almost priceless a. holders
part with it very reluctantly at any price
Five dollar bills of the broken and worthless
Globe Bank of Bangor altered to Pacific Bank Nahtuck
ct are in circulation at Boston.
A second dividend to the billholders and depos'
itors of the Mechanics Manufacturers Bank OF Nan
tucket has been ordered, payable on presentation OF
claims.
AT New. Orleans the demand for Treasury Notes
continues active at q to per cent above par face and
interest and those wishing to purchase cannot md hall
a supply at these prices.
ENTHUSIASTICALLY reported for The Tribune