New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-05-25
COMMERCIAL AND MONEY mATTERs.


MONDAY P NJ
There was considerable done in the stock market
to-day, and toward the close there better feeling
For sound stocks the inquiry good and the tendency
upward. Treasury Notes fell of 20 81. but sieTward
improved to 81. FOR NewYork stocks there con.
siderable inquiry at full rates.
The bill market is quiet but FIRM. Sterling is
quoted at7d7i Francs 3lia5 32s
In ireights there is fair business doing at about
previous rates Engagements making for Liver
pool a, "a 9da3s and % alOd. To Glasgow Meal
taken at IS s.. To Hsvre the nominaly - and
Is cts for Flour and Grain, with nothing Offering.
A meeting Of the bond -holders OF Illinois has been
called in this City for tomorrow to take into consdera
ton whatever may before them 10 regard 10 the
situation and prospects of the loan arrangement made
by that State 1t is rmored that come action will be
taken the Trustee question some dissatisfaction is
felt at the large salaries enjoyed by Of the Trustees
which considered disproportonse 10 the terTices
rendered The prospects Of the completion Of the Ca
nal promising and would be more 90 but for the
scarcity Of laborers. Several hundred laborers in
Guiding masons are still needed various por
tons Of the work and measures are being taken send
them 10 the line. Gov. French and Col Oakley
in town making preparations TO issue the new
bonds according the arrangement IL believed that
the next Legislature will provide for the payment Of a
still larger proportion Of the interest the public debt
than Is contemplated under the arrangement probably
by the imposition Of poll tax. The population Of Hi
nois Is increasing rapidly, and there is very "a
yora5e change In public opinion 10 regard TO the para
mount necessity of redeemng in full the state faith.
The State Convention which meets Monday next will
probably provide for the establishment Of Free Bank
ing System similar that Of this State the basis to be
Illinois stocks at the market rate
The money market continues very easy, and
loans frstcsss securities negotiated al 5a6 per
cent The bes, paper short is in demand at per cent
The bank offerings moderate, and even six months
paper Il now passed if Of the right character
An arrangement has been made by the Mohawk
Railroad Co. by which the 100000 OF bonds due within
few weeks will be paid by temporary loan tits pro-
posed to reimburse this loan by issue of five year
bonds and but avery moderate amount of debt Is due
within three four years to recommence making diyi
dends The Company has done very large business
during the last year and is sbundsnty able to make
good dividend in July provided 1t be deemed advisable
10 DO 30 about which there considerable difference Of
opinion One party advocates the permanent funding Of
the debt the establishment of sinking fund and the
regular declaration of dividends while another adyo
Gates the extnguishment Of the debt before dividends
made. The earnings OF the present year will not
probably fall short OF $4,000 which will give net
revenue of 100000 more being 10 per cent the
amount of capital stock The election of Directors
will probably turn on this question of dividends
dividends
A very important Railroad Convention was held
at indianapolis on the 18th inst II attended by
large number of delegates from Illinois, Indiana and
Ohio aud presided over by Gov Bebb Of Ohio. The
question under consideration the construction of
continuous Railroad from Cincinnati to St Louis Char
tiers have already been granted by Ohio and Indiana for
this purpose. 1t unanimously resolved that 1t
highly desirable that this continuous Railroad connect
ing these two growing cities should be built and imme
date action was urged in filling up the stocks of the
roads already chartered. Committee of ssyen was
appointed 10 draft address the people ofo States
above named in relation TO this work and smother Com
miltee 10 make application TO the Legislature OF Illinois
for the passage OF act granting Company the right
of way through that State. The first Committee
stats of Gov Bebb Chairman and Messrs. r. w Thomp
SON VIM S. Waite, L. NJ. Huntington, WIN. Nef d. Sig
Ter aud James NJ Gregg and the second of Messrs Hen
nv Secres DR.. J. ;. Bobbs VIM. X. Edwards, James
Blake and John Cowgirl.
The Pittsburg Gazette says" Owing 10 the
failure of the Farmers Merchants Bank Memphis, TO
meet the payment of its drafts maturing in some OF the
Eastern cities its notes have got into partial disgrace
The discount is about nifty cents on the dollar"
At Cincinnati Eastern Exchange was plenty and
dull at prem.
The following have been the receipts by Canal
nj Albany from lat TO 2lst May inclusive: