The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-05-14
com MERCIAL AFFAIRS.
MONEY MARKET.


transactions. Operators anxiousy waiting the
rival of the steamers due and there is dispos
tion to make transactions until later intelligence from
the other side comes to hand. We have doubt
either the Hermann the Cambria will arrive before
the commencement of another business day.
new bank to be called the Utica City Bank, is to
be established at Utica with capital Of $125,OOO.
The time for receiving proposals for the Erie Rail-
road Bonds has been extended to the 25h inst (See
ADVERTISEMENT
At meeting of the stockholders of the Delaware
and Raritan Canal and Amboy Railroad and Trans
portation Company a resolution passed giving the d.
rectors Of said companies discretionary power sub
scribe not as they may think besD $500 of the
stock of the Belvidere Delaware Railroad Company as
authorized by and in accordance with the passed
by the Legislature of New Jersey that purpose The
stockholders however, suggested to the directors Of the
aforesaid companies that they have the charter Of the
Belvidere Delaware Railroad carefully examined before
making said subscription.
There were coined at the New Orleans mint. during
the month Of April two hundred and fifty thousand
half dollars, and twenty-five hundred eagles, in value
$145,000.
The business Of the Morris Canal has opened quite
actively this year. and there fair prospect of
large number Of boats have already passed through
from Easton, mostly laden with iron and COAL and
lished time SINCE full account of the past and
present condition of the concern and the official est
mates relative to the business of this year.
The financial report of the city of Louisville the
year ending March TO- 1S4S shows the following result
The total receipts $155 694 90 the total expen
ditures $155402 20. Cash in the Treasurer's hands
$2,326 OIL The liabilities of the city of Louisville
amount to $4eOss7 70 to which may be added out
standing scrip $23o79 19-making total 4s3 96e 80
The credits stocks, &C., Of the city amount to
$2o5, 1873 81, nominaly.
communication received from the commssio ners
Of Philadelphia county, by the county board gives
statement Of the assessed valuation of property in the
county the total of which is $3.50 34162 OF this az
gregate the items are-real estate $1O5 457 s71
money at interest 1872 1e1 $40 furniture, 1904 1893
horses and cows $49l .495 carriages $152s56 and
emouments Of Office, S155893.
The following new counterfeits have recently made
their appearance -
U.s. on the Bank of Delaware letter A-vignette, loco
motive and cars-seems to be alterations SIS the
Eastern Bank Bangor Me-; SIS, on the Bank Of Nor
walk, Ohio; SIS, on the Bank of Smyrna, Dell los,
the Farmers and Mechanics Bank, Detroit; 3s, the
Western Bank, Baltimore; SOS, the Exchange
Bank, Providence; los, the Wrentham Bank, Mass;
2s, on the Chautauque Co. Bank; rs, on the American
Bank, r. L.; SIS, on the Sussex Bank Newton N j.;
lis, on the Bank Of Delaware. Wilmington SIS. the
American Bank, Providence 5's the Bank Of Della
ware.
The value Of the domestic produce exported from
vannah in the month of April, was S3l6O33 The du-
ties on foreign articles imported the same month
amounted to only $4s65 Specie and bullion imported
$22s5
The annexed banking and insurance companies of
Pennsylvania have declared dividends =
Miners Bank, Pottsville, Az per cent; Pittsburgh
Bank 31s per cent; Mechanics and Aanufact urers
Bank Pittsburgh, 81 per cent Exchange Bank, Pitts
burgh, 31a per cent; Harrisburg Bank 81 per cent
Wyoming Bank per cent; Farmers Bank, Lancas-
ter 3per cent Lancaster Savings, ~ per cent; Ian
caster Dank, SO cents per share; Lancaster County
Bank, per cent; hambersburg Bank 3 per cent
Chapbersburgh Insurance Co, per cent; Montgo-
merry Bank, Norristown n, per cent; Bank of smyrna
Del, per cent; Wilmington Insurance, per cent. ;
Wilmington Bridge Co., per cent; Bank of Delaware
Wilmington, per cent.
The receipts Of the Philadelphia and Columbia
Railroad for the five months ending April 80, 1sis
were $1127Oe 49, of which $5965S SO for the rail-
way, and $53,O5O 81 for the motive power
The amount Of coal transported on the Schuykill
Canal for the week ending the 4th instant 1920
tons; previously, 38992 tons total for the season.
Al 1888 tons The business this canal is increasing
weekly as the number of boats in operation become
larger The only thing wanting facilities to get
coal to market rs rapidly as 1t is prepared along the
line. The canal is in admirable order and its capacity
is equal to an immense business
The Reading Railroad is doing fair amount Of bust
ness but the prospect is that the aggregate will not
much exceed that of last year. Even with the income
OF lS4 and the reported net income, there is
son why this concern should not ultimately be
licved from its financial endorsements. The act
which has recently passed the legislature of Pcnnsy
vanis, authorizing issue of four and a half millions
OF preferred stock WILL If judciousy managed relieve
the old stock of great deal of the fancy it
now possesses The old stock will be in much better
position behind preferred stock than behind mortgage
OF hath L., 1t,aI,la
accept the exchange is doubtful question: their
security now is undoubtcd and the payment Of inte-
rest is ccrtain Whereas by the transfer or exchange
the security would be deprecated without perhaps,
endangering much the punctuay of the payment Of
dividends or interest We no other way to extri-
cate the company from the cmbarrassments with which
they arc surrounded, than by issue of preferred
stock but II that stock is brought upon the market
and the sale Of 1t forced to raise funds to meet the
debtcdness as IL natures the actual liabilities Of the
company will be increased, although they may DO
placed In more manageable shape. From the first
commencement Of this road to the close of the
last year, this company have been under heavy
annual expenditures account of construc-
ton, independent Of the current running cx-
pcnses This has absorbed only the whole of the
net earnings, but has involved the company in di-
cultics from which, at the time there appear no pos
sibe way Of cxtrcating it, For tho purpose Of carry
ing out the plans Of the company and for furnishing
proper facilities to carry cxpcdtou,y ~ posi-
Die, the coal transportation business immense debts
nave been contracted and the credit of the
strained to the utmost The road is now completed,
and Its furniture and machinery equal to any
gcncy the expenditures account of construction
have, therefore, ceased and the work is without doubt
tho most extensive of the kind in the world With
tho exception of the usual and tear of machinery
and the necessary road repairs the running expenses
viii hereafter be the only outlay required leaving the
net income, after dcducting that item for the sole
payment of interest tho bonds other evidence of
debt and the payment of dividends the stock if
sidercd desirable The gross earnings of the road last
year were little more than two millions Of dollars lcav