The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-09-28
COMMERCIAL AFFAIRS.
MONEY MARKET.


the advantage At the first board. to- day, Erie rs
1859 fell of II Fer cent r. aiding Railroad y Long
Island = Canton Co. advanced per cent. and Long
Island n There large sales Of Canton Co, all
time, buyers and sellers option, but small lot
The freely offered and the bulls got all they
wanted.
Another decision, supposed to be favorable to the
North American Trust and Banking Company, Is sx- |
pscted in few days, and the stock held, to-day
1t advance OF per cent. II an advance Of per
cent asked in anticipation Of tho decision, what
may not expect when 1t is made public? We have
idea Of what the decision Is, but 1t is opinion
that It will prove to he just like all previous just
nothing at all 1t may be something like the recent
decision Of the Farmers Loan md Trust Company.
All Who do not realize any advance produced by this
decision will make great mistake.
1t Is stated in tn street. that the Harlem Railrssd
Company sontempsts declaring . dividend on the LIST
Of February II the has credit enough to
borrow money enough for that purpose dividend may
be paid and the amount ofthe dividend will no doubt,
depend entirely upon the amount Of money the CON-
pany can So far the earnings concerned,
they will all he used up In paying running expenses,
repairs Interest debt and dividends preferred
stock The public understand the object Of these
forced dividends well to be suled by them. This
ISIS desperate the part OF the bulls in that
stock and 1t WILL doubtless be second edition Of the
and half per cent dividend Of the Nor
~isb and Worcester Railroad Company. II this
advances the price Of the stock all say to out.
size holders is. to sell sell-ssll
The hnapcial and commercial adviees received by
the steamship America DO not amount to much There
baa been change In any Of the markets, either -
regarded prices or demand.
The receipts at the Office ofths Assistant Treasurer
Of this port to- day, amount to SIT 1l9; payments
$3.50 SIS; balance % qs6 s22 Al; duties, Slll,s2
The sgsrsgste amount Of tolls received tho New
York State canals to the 22d ofssptsmbsr b20O4-
$50 IS against 80 OLD 674 ao for the period last
year. showing decrease this, OF IS Sss S.
The directors ofthe Reading Railroad Company have
psssd tsolution giving the holders Of the preferred
stock and holders Of the unoontrovsrted bonds Of
1850, the privilege Of exchanging them for mort
ssge bosds pay able In twenty years. The amount OF
preferred stock and bonds Of 1880 about 81 100000
II has also been determined to set aside SIS 900 annual
~ sinking fund for the redemption Of such bonds
of1sbo may not be exchanged Holders Of the pre-
fsrred stock who may make the exchange, will receive
one halt per cent, 90 as to place them par with
holders the bonds Of lsso-sha being the difference
between the interest paid the bonds and dividend
the stocks.
The Rutland and Burlington Railroad has been open
Cd fer business from Burlington south yard to Sails
bury-a distance Of forty miles. Passengers leaving
Burlington early in the morning, reach Boston the
same evening By the LIST Of November twenty Eve
additional milee OF this road will be opensd-to Rut
lAnd-and within year the entire line from Burling-
Bellows Falls will be pleted By that time
hope the Brs,tleboro and Bellows Falls Railroad
will he in state Of for-ardness 90 that the railroad
connection between this city and the interior Of vsr
mont and New Ham pshirs will be perfect
The grading OF the New London, Wimanto and
Palmer Railroad and most OF the structures thereon
are fact approaching completion From New London
to Stafford the north lius OF the Of Connec
CUTS mles-spd the rs miles bet ~een Nov Lon
don and the manufacturing borough Of wiilimsntio,
the rails have been laid In many sections We learn
from the directors OF the company that sistsndsd
10 tho road from New London TO Norwich,
IL mies before tbs Is, Of November ensuing to
wiliimsntic the lat Of Decem bsr-snd to Stafford
sprprs the LIST January following leaving about
Is miles from stafford Palmer the Western Rail-
road Of Msaschusetts-to be completed early next
This company vas chartered by the Lsgisls-
ture Of Connecticut In May, 1s4T and the railroad
placed under contract In January is+s The work has
been carried for xard With great aud economy
tbe contracts s,ng been taken beov the estimates
aud the iron rails, imported Wales, the most
advantageous tsrms-ssving to the company, We be- .
n,ve ah.ut hundred thousand dollars from the
tmstrd eost CT this item The total cost Of the road
from New London 20 Palmer OAK miles, with the
equipments, ettimsted by IN. engineers at siiss
but the belief President and Dreo-
tors that the whole Of the work aud equip suts
will be brought within million Of dollars whi,h IL
considerably less than half of the cost % the Nor
vich and Worcester Railroad. Of sixsysix miles In
l.rgth The work on the New London read will bear
iavornble comparison With that OF any ofits rivals
and reflects much credit those Who have had the
management 81 II. The stock Of this compsny
principally subscribed by the enterprising people Of
New London. among whom Of the mos.
- .rtta A., Eop Th., has
d,pee in the stock proving proasbi. ar fnvs-tmeut
careful and loo estimate of the osbe busasss 10 be
done the rad makes the gross receipts for the
y.sr else5is and tie expenditures $4,000, leaving
ten per cent for net income Palmer the northern
terminus OF the road Ia fifteen miles east Of Spring
neld.
The metallic reserve Of the Bank Of France Increased
considerably during the week ending the 6th inst the
augmentation being not less than so0f 1000 o0of
In raris, and 4 600 ooof In the branch banks The
discount accommodation has been Increased about
1850 0o0f In Paris bat remains nearly II was IN the
provinces the amount Of the former being tsos3 16ef
and Of the latter 7pT3s sssf The protested bills have
declined ESQ 00of In Paris aud about 100 ooof the
departments. The overars~n bills have decrea, ed
from ia s4sf 10 7s70n On the side % the liabilities
the notes In circulation have fallen abou. 100000
Paris and ooof In the provinces The account
Of the Treasury has increased about DOOR
the smoun. nov being o. $40 oSsf Private accounts
current h.v, fallen on In Paris $50 oeof, and have u-
scSsd In the provinces 500 ooof the amount Of the
former being se7 7af aud Of the latter 1886 fs7L
The whole amount n the metallic reeerv. s nov
sosooooof 70 4os7so,ooof. Of note. n cironlston.
As prcsf OF the improvement which has lately been
noticed IN the trade and Of France the fol-
loving somparisons taken from the osisl returns
~ the custom houee. Amount Of duties received on
an Imports during the fret seven months Of 1910,
'a<'saa4fi for the same period Of lsis sS.isesAl;