The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-01-12
C0AkRRCIAL ArRAIRy.
MONEY MARKET.

The stock market opened heavy this morning and
prices for most Of the fanciss fell of the decline In
some instances reaching one and two per cent At
the first board, Treasury notes declined y per cent
Reading NJ bonds, 1; Morris Canal ri Erie Railroad,
Canton Go. y; Long Island u; Reading Railroad,
2; New Haven, ~. Reading Mortgage Bonds ad-
vanced per cent all others closed at prices current
yesterday The market closed heavy and the tsadeu.
cy was towards further decline. The development
In relation to the financial affairs Of the Reading Rail-
road Company, showing increase In the liabilities
Of than two and half millions Of dollars Within
the last year. have depressed prices for both the bonds
and the stock below points heretofore touched The
management Of the finances Of this company has been
Of the most extrasgsnt character and We see NO pos
sbility Of preventing the complete snnhstion Of tho
. further depreciation In the market value Of the
securetiss. This work has cost, according the
cent ofhciL report about fifteen millions of dollars,
and unless some great change made, the oomps
ny cannot survive another year The depression In this
stock with the cold weather. which Is suc;ent
to freeze up almost anything have had an uufavorsbs
inf upon all other sscuristss, will b seen BY
tie current quotations.
The Sesmsn's Bank for Savings has declared lie
usus semiannual dividend the rate Of six per
per snnum on gums Of $1,000 and under and Of i've
Per cent on all larger sums.
rate Of ave per cent per annum than $500
and At four per cent on all larger sums.
The Bowery Savings Bank has declared . dividend
at the ssms rate and on the same terms Is noticed
above for the Chambers street institution.
The Utica and Schenectady Railroad have declared
dividend Of Sc per share on tie paid up STOCK and
So 30 per share on the increased STOCK payable
In this city on the LIST of February at the Phsuix Bank
The New York Equitable Ins trance Company have
declared dividend Of Eve per cent, pay able on tho
18th instant.
The n. T.. Mutual Marine Insurance Company Of
Boston have declared cssh dividend Of six per cent
their scrip and Of eight per cent q issue,
payable on and after February LIST.
So far Is tho money market influences prce
for fancy stocks in Wall street, everything ap.
pears satisfactory and encouraging. Credits have
become reestsblished, and that confidence
ceesary to the transaction Of an active bust.
ness, which became 20 much impaired by the
arrangement in financial affairs has returned aud the
general in favor Of extensive trade
upon the opening Of another season. Money will cont
abundant and be easily obtained at the lowest rates
Of interest, long individual confidence remains
uninterrupted and unmpsred Credit Is as much cspi
tai geld and silver the real and the other nomi
nall the amount Of real capital compared with the a.
msnss amount Of business transacted and the amount
Of property passing from hand to hand mere bsgs
tele while the nominal capital employed in the shape
Of credits is enormous without which it would be I'm
possible to get along 1t H. therefore, Of vast impor
tpoe that the system Of credit should be sound aud
never overstrsined-thst these should be undue
expansion, as It endangers the psrnanenoe Of that
capital essentislto the preservation Of healthy
state Of trade The future looks favorable for all
Of our local interests, and 80 much confidence Is
placed in the signs Of the times, that there univer
ss disposition to enter into engagements and set all
the wheels Of commerce once more In motion. Con
1dence begets confidence 10 plant OF rapid growth
and Its influence will spread through all depart
ments OF industry, and affect all classes.
The nportatiops into this port continue light. For
the week ending the 9th instant the aggregate value
Of merchandise and specie imported, excepting that
rent to the warehouse $62s 24l Of which $477sl
in free goods $b7o75 dutisble goods and 80 AS
In specie The amount Of duties received for the
same period was $751; IS. The drafts on the As.
s'snt Treasures Of this port for the week amounted
to 5000 sos showing reduction Of sass 274s3 This
with the drain for payment Of interest Mt
stocks will reduce the deposits to less than half mil
lion Of dollars
The ANNEXED statement exhibits the number Of miles
Of railroad opened In the United States the year
ls47 far have been able to gather from the i'm
perfect returns recsived:-