The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-12-05
Com MERCIAL AFPAIRS.


HONEY MARKET.
Monday, Dec. 4-6 r. M.
There variation of consequences, to-day, in
quotations for stocks generally The market opened
and closed firm, with moderate sales Of the leading
fancies. At the first board Harlem advanced u per
cent; Erie Railroad, q; Long Island fell of y; Read
ing Railroad all others closed at prices current on
Saturday.
At the second beard there was slight reaction aud
most of the fancies closed at prices fraction lower
than those current in the morning
The receipts Of the Harlem Railroad Company, for
the month Of November, this year, were $24S $40 &c.
against $22,768 49, for the corresponding month in
lS47 showing increase of 100 II for the month
this year, equal to about ten per cent.
The Vermont and Massachusetts, Railroad, as far As
Brattboro nearly completed There it is interssct
ed by the Connecticut River Railroad.
The Delaware and Hudson Canal Company have de.
clsred eemi- annual dividend Of eight per cont paw
a bic on the 18th inst
appears by the message Of the Governor Of South
Carolina that the ordinary of the State dur
ing the past year exclusive Of the profits Of the Bank
Of the State and dividends stock owned by the
State in the Southwestern Railroad Bank amou nted
to the Of $1Os O0 which has been carried to tho
credit Of the sinking fund. The is stated to
be sufficiently large to render 1t unnecessary to in
crease the public burdens. The Bank of tho State
has 3 very important agency in the management Of
he fiscal concerns of the State This bank created
q time when the public finances were in q very
depressed condition, and the of the State
had been drained by the various of the
raj government. At that time, the State Treasurer
had in hand some funds and owned stocks md other
public securities to considerable amount and It was
deemed good policy at that time to place them that
hey could be made available and employ the fu nds
in loans to individuals on real or personal seeu-
rity. loan office for this purpose was At
first contemplated, bat it was thought that bank
ing powers and privileges would greatly fscili
tate its operation, and they accordingly grant.
ed This is the origin of the Bank of the State of
South Carolina and such the object in view It's ere.
alton. After the lapse of few years doubts and dis
trust relative to the faithful administration of the A.
fairs Of this institution pretty generally enter
tanned, and the proprety of winding up its concerns
and closing 1t, has frequently been suggested and
urged with much force and effect. It is the universal
opinion of all classes in the State that the bank an
evil, and that rapid liquidation of its affairs should
by all means, be urged but tits interviewer in the
commercial transactions Of the citizens that it must
be adually withdrawn from the position 1t occupies
ana ITS operations contracted moderately. Such an
institution as that cannot be suddenly closed without
producing the most disastrous results and It is pro.
per that 1t should be put into state of liquidation at
terminate In the course of few years The policy
of con Meeting the fiscal affairs Of State with those
OF large banking institution, was years ago. conclu
svely settled and in all instances where such
connection exists, measures have been adopted to
dissolve 1t at the earliest moment practicable The
capital stock and profits the Bank of the State of
South Carolina pledged the faith of the State
for every dollar she has borrowed from 1920 down to
the latest moment The character of the bank itself
is involved in these Pledges and any neglect on her
part to fulfil them would ruin her credit and close
her DOORS is therefore necessary for the credit Of
the State and of this institution that only such mea
sures be adopted relative to the operations of the
bank, end Its existence, will secure the guaranty
given the public creditor, and perfect all the financial
arrangements OF the State. The Governor recon-
mends that as that be done, that as soon
as all the pledges the part Of the bank shall have
been redeemed, the affairs of that Institution be put
into state Of liquidation aud It's closed soon
possible. In the meantime, 1t must be considered
necessary evil and the legislature should keep at its
head able, honest, and faithful agents.
The receipts at the Philadelphia office Of the Column
bia railway. for the year ending Dec. 1st 1s4s were
$SS062o H. against 1929 1876 OF for the year previous
showing increase Of 81 42+ II for the year Just
closed This is link in the main line Of public works
in Pennsylvania, and If We from this form idea
oftbe gross revenue Of the State from its works of in
ternal improvement should say that would about
equal that Of the year 1s47 Last year the income
was exceedingly large land but for disasters from
freshets would have been much larger in consequence
Of the universal activity in agricultural products all
kinds growing out Of high prices and extensive foreign
demand and it amounts to much this year. it will
be much more than anticipated early in the sea-
son there not having been those influences at work,
giving large revenue, that realized in 1s47 We
hall connective official reports from the
of Pennsylvania, which will settle all doubts, and give
facts AMI figures relative to this years business
The quantity Of -four, wheat, and barley, left
at tide water during the 4th week in in the
years 1s47 and 1s4s, follows
Flour, bbs. Wheat. bu. Cora, bu Barley, bu |
1871 ........ 22Sl0l 3&s72 62Hl I55 s99
ls4s.. .2zs,leO 1929 5000 669is
Increase. . SOs9 Dec z2I7i3 1892 ss45
The aggregate quantity of the articles left at
tide water from the commencement of navigation to
kha hofN Su~t "a