The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-05-17
COMMERClAL AFFAIRS.
MONEY MARKET.

Tuesday, May I6-6 M.
There was something Of panic in Wall sire ct to-
day, but it was confined to the bulls in NorwcJo and
Worcester decline of per cent having been eali.ed
the nrst board This had an ee ct upon
other fances, and prices fell off fraction all round
Long Island declined u per cent Harlem u fsrmers
Loan, " Norris Canal, u Erie Railroad, full. X:
Reading Mortgage Bonds advanced per go MT The
improvement in Reading Bonds has been rnnused no
doubt by tho favorable prospect of satsfs ctorv dis
posal of the stock.
An election for directors of the Harlem Railroad
Company, for the ensuing year, took place to-day,
when the following gentlemen were elected:-
New York AND HARLEM RAILnoAp-BoAxp OF Dr.
RECToRs.
d-Hobert Schuyler 8-Morris Ketchum
s-Seotge parker, 9-ThonAas w. Ludlow
Edward X. Collins, 1l-Jonathan Sturcss
5-Philip Dater, 12-WNliam c. Wetmore.
11-S S ETen l3-WIlism s. Wetaore
This is good ticket, and We believe under its adj
minstration the affairs Of the company will be placed
upon sound basis and the exension of the road pro
gress rapidly. The company is doing q heavy bust
ness the receipts thus far this month about
one thousand dollars per day
The Western Railroad Corporation has declared a
dividend OF four per % MT payable on the lst
OF July to holders of stock the 3lst Of NAV.
The suspension Of the Erie Bank of Psnpsv,v.r,.
Its location At the time Of its stoppage II had large
circulation and up to the time of failure en,ovexi
high credit The amount Of specie On hand was 40
exceedingly small in proportion its ss,es that the
slightest demand for coin drained 1t at once Its re-
sources however, ample bill, are worth one
hundred cents on the dollar Tho president of the
bank Is . man Of immense wealth, nd his property
potn real and PERSONAL amounting to So 900 OOO has
been pledged to the payment Of tho deposts circua
ton, and other debts Of the ms titution The an
neIed statement exhibits the CO ndton of the bank
| on the Sth instant -
ERIE BASK PENN WLvASIA
Resources Of H.e Bank
Due from solvent debtors. .... s1os ais 7b
Erie Canal bonds and certif. ,ates o3s 400 %
T.iiS CanaI STOCK. ........... 5000 90
Real estate at its present cash value 4SO4 GO
$446,s59 SO
Liooih fes Of the Bank.
Notes in circulation. ~ $3.50 1ao 90
AZ o, Iep1 ;ns.h.;, 1886 90
All o'her ihoeo'eo'Aas. ............. 1882 %
1891 Os9 %
1t appears BY this, that there is n margin Of
$ll57o 10, for depreciation in the appraised or par
vaiue OF The assets that in the event of the amount
que from solvent debtors to the bank netting less than
n'y cents on the dollar the will be sufficient
pay every fArthing Of the liabilities 1t will be per-
osVea that The assets are in very good shape and
can be made available without much delay Bills Of
this bank were selling in Buffalo for fifty cents on the
dolar depreciation not warranted by tho position of
tho bank
For tho past week two there have been reports In
circulation relative to the solvency of the banks Of
South Carolina. There was no foundation for thu
statement, and we annex exhibit Of the condition
OF the banks of South Carolina at the latest dates
compared with several previous reports