The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-07-05

Wheeling banks 4 Per discount
Uncurrent money is scarce. This is usually a dull
season for this business. withn the past few days,
there has been demand of Importance for specie for
shipment and the general Impression is that the expor
tation has nearly ceased.
The Concord IN. H. Railroad annual report states
the receipts for the year ending May 3lst at S311326
Of which passengers paid s1SSeO The year previous,
the receipts s2aO 22S, and 1888 545 from pas
sengers The expenses for the year ending May 31st,
1S4s, $1so697, and the net profits S130j3s with
a balance to reserved funds after paying 100000
dividends stock of $1053s. In the preceding year
the expenditures SIG 453 the dividends 100000
and balance reserved S13775 Ten per cent per
has been divided this road from it's first
ment by regular dividends Of per cent semannualy
after opened and extra divisions to make up for
time occupied in construction. les capital has been
gradually increased 81 $50 Ooo where the Direct
hope to stop
The third annual report of the Northern Railroad
Company ord TO lie the net receipts
from September 1st Is47 to May 1st 1S4s at s10275
or $675l six per cent per upon its capital
of $2400oo0 Since May LIST the capital has been in
creased to 100000, which it is supposed will suffice
to complete The road and its equipment
sunday, July 10 II. M.
During the past week the stock market has been
unusually inactive, even for this dull Of the
year. but prices have not given way much and there
has been disposition to force stocks upon the
ket Money has been exceedingly tight the past week
and higher rates Of interest have been paid for short
osns, than at any previous period within the past ten
years. yesterday was of the hardest days known
for years The board of brokers adjourned for three
days. and all contracts done in that time, settled
yesterday. large amount paid in dividends,
and the demand for money was not unusually great,
but the scacity almost unprecedented This strin
gency will not last long; the scarcity is merely tempo
rary and has been produced principally by the
mutation Of money to pay In for the new loans just
made These loans have been created for the purpose
of paying OF old loans falling due and for indebtedness
growing out Of the and as soon as the disburse
ments commence the market will be materially relev-
ed The limited supply Of capital at this uncture has
been produced more by artificial than by natural causes
The commercial classes comparatively easy in
all their financial affairs, and the demand does not
come from them, neither Ia there any steady natural
demand from any source Of any Importance; but it Is
the immense amount Of capital locked up that creates
the stringoncy much complained of during the past
week or two The payments in the shape Of interest
and State loans dividends from ncorpc-
rated companies, and the liquidation Of loans falling
due in connection with tho large sums called in on ac-
count of loans just created have required larger
amount Of money than ever known at any previ-
period within the history Of the country The tenn
porary withdrawal of such large from the usual
channels of trade could not but have produced q tenn
porary strngency in the market, and 1t is probable
that Its duration will not be long enough to create any
very serious embarrassment In commercial circles II
Is estimated that at least ten millions of dollars have
been Withdrawn from Its legitimate channels Of crcu-
ation within the past month, to meet payments due
yesterday, We trust thst = fsw days viii sunacc 10