The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-12-13

Com ERCIAL AFFAIRS
MONEY MARKET.
Wednesday, December l2-O

- h II
lem, x ! Farmers Loan, N North American
| "a New Haven Railroad, u Auburn and Roch
| *; Long Island, u Reading Railroad adysue
per cent, and Reading Bonds, X. At the
board, United States e's, 1857, fell of u per
Reading Railroad, u Harlem, " Canton Com
ri Hudson River Railroad, u; Long Island, 4
ris Canal went up Is per cent.
There were large sales Of Harlem and Reading
road at both boards, and the bears meet easily
demand for each. 1t will be seen that sales Of Rel
for cash, range about per cent above sales at
days, sellers option. This looks as though the
were reluctant to buy on time and shows clearl
Fame they are endeavoriDg to play. The LIST of ia,
will bring this movement to a close; and if h
do not pay dearly for their temerity, it w
en- exception to all cornering operations we
sesn for a long time. II a dividend upon til
or upon the preferred stock depends upon
realized from the speculations in these secu
during the past month, the prospect is poor en-
and If the treasury has been depleted for the pu
OF increasing the surplus by fortunate operatio
the stock, the result win probably be far different
that anticipated. II what is stated be true. a
amount Of stock must be brought into the marke
tween this and the LIST Of January to raise &
to meet the payments Of the company due on
day. This is another chapter IA the fna acial
rations Of the Reading Railroad Company.
Some days since we stated that the actual receI
the Erie Railrosd Company, for the month of No
Der. were only about seventy. fire thousand dollars
that the difference between that sum and the rep,
receipts was for freight the company's property
have since learned that some very curious opera
have been made on this road in the way Of frsigh
for no other purpose than to swell the receipts
that department Of business. The com pany are pu.
up buildings along the line of the road and the tr
portation Of the lumber used in the construe
Of these buildings the road, is charged,
included In the monthly receipts from fre
We know Of one instance where the building age,
the company was presented with hill for So 600
freight on lumber delivered him for the con true
OF one OF the company's depot buildings; ani wher
remarked that be had no funds to pay It, the col,
ing agent said that he had orders to charge freight
Oh every thing carried over the road. The comp
owns several large wood lots along the line Of the
and long freight trains, loaded with nothing but
are continually passing up and down the r,
Now, 1t would be nothing strange to see W
trains continually passing dovn the road, but
see trains continually passing up, and meeting
wood trains passing down, IS extraordinary to say
least We have no positive information that fregr
charged on this wood but the Inference is, that as
company charge for the transportation Of its own
and lumber, 1t charges Tor the transportation OF
own wood. There more mysteries ia rsilr
management than stockholders generally magine,
any beard Of directors that does not understand
fccly the science Of showing large thly re sci
cannot expect a re. election, or be very popular
stockholders.
The messoge Of the Governor OF Indiana to the
gislature Of that State, gives very favorable acco
of the financial condition Of the treasury In Is
wbon vhe arrangement OF the States indebtedness
made with her creditors the dsbt exclusive Of inter-
was sli ,o45,otc; there has been surrendered and
verted Into new stock 20 let Of July last SO
since July lst S33O0o-makisg 50, sos 0c0- leaving
to come into this arrangement thoussad foar h,
dred aud eightyeigb bonds, or sI,4ss GOO. I
am count OF revenue paid into the State treasury dur
the last year, on all accounts SAL $50 which
ceeds the amount paid the previous year, s2s 90l.
assessment for State purposes for 1sle Is s5OS537
for county, read, school and township purposes c
lectiveiy, $3.50 $50; adding to these sums tho del
quencies Of former years uncollecte amounti
TO fi63,0e3, and the whole amount on the dur
Gates for 1850, will be ST. 302 212 The namAer
polls returned for lSlo Is Sis3 40, being an
the returns of last year Of AS The va!
Of the entire property Of The State subject to axa
as returned for 1s4e, Is Sls34lso56, which Ia an
crease over last year, Of 81 45so70 The S.s.s co,
menced paying interest with Jay lss7 and to the pl
sent time has paid FIVE SENT annual payments amour
ing, In the aggregate 90 nearly half million of d,
lars meantime, the State stock has been ateadly q,
gradually advancing Ia value. until IL now stands
teventy cents on the dollar, its full value TAXI
tix per cent interes. per as the standard. II
semianDusl interest due to creditors, under the t'
acts II the Legislature Of 1916 and 1sI7 pro vidipg
the settlement Of the State debt, was punctuay pa
at the agency Of the State In this city on the ut Of
last amounting to SOS 800 being per cent on s4To
Geo, The amount Of the debt at that tme u
der the arrangement. 4 portion q this su,
say 500 Geo, was borrowed of the Commis.io lone
Of the Sinking Fund, and of the banks. On Januar
1870 tie interest due viii probably reach 800 90
as go bonds coming 10 from July TO Jauuu
will make up that amount The sriinary expsn Al sur
of the State government for sac fiscal year oDdiog
the 5ist day Of octobcr, 15Ia we're S7s4Ga The ord
nary expenditures fr the current fscal year are es,
mated ty the hu5itor OF sis,s az S72coo.
In relation 10 the succpss II the movement made r
the rotponement Of the payment or the January al
dsnd the State debt III the erst Monday Of Mare
In each year, have further knowledge than thi
derived from the annexed extract from letter write
by the state egent 20 the Governor -
The large amount Of Treasury notes which pa,
heretofore been paid fer taxes, has what eunba
raised the state Treasury. We have consequent
at times been without iho means to pay eur Interest
10 became due. For the past dividends this
has been suppied by borrO sing the neceeesry amount
from our banks. TO ave the necessity Of borrov
ing, and to make dividends, both Of them payab
after the annual revenues paid into the state fret
tury the Legislature by Joint resolution last wints
Instructed me 90 negeiats extension Of the Jauuar
pay ment TO Nsrcb. ia iurs last prepared sirculs
upon the subject aud cent - to the la TN
circular Itopoed that our January dividend shoal
be poat popod until the lft Monday ia March vhen
should he psid With Elk per coutum per neres
nom let a January 10 sbe pre.ut time nave ans
from los cut OF $40 holders. a. shown hy oar Jui
dividend book. They 20 Tar, Almost Uuaniuousy gre
10 the poetponcment. The proportion Withhold Sin
tboir consent though amp time has bsen Afforded
raises FEAR In iGy mind that thc proposition ~ia nc
BE- agreed 10 by even majority of then.n
The Governor q the state ct Virginia con .rai ate
the Legislature Of the state upon the favorable cond
tion Ct the general irt,gosts q the Commonwealth
the fears expressed lest the liberia
'plrit evincd by recent leg'lsuoe touching tAe I'm
Iiovtnebt q roads aud canals would suibtrf,ss "a
finances of the State So t. shown by the Governs tia
The tevcra departments sre In the souadest sai m ,s
prosperous condition. he Governor says, thas II
we're thought de ernbe nc suy moment 30 wibs ont n
public q. BIT fee at rar of Ar. iut.reat Nc st,s