New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1849-03-27
o)ndnnERoIAL AND MONEY MATTERS
For Sale Of SOCKS Sc se, Fourth Page
MnnnAY. March PIP.

and tie Loan Of 1867 10 TO- The tears are decidedly
more In heart and operating for decline before
,ba import Of coR from Greet Britain shall commence
In Exchanges there is nothing doing. The
,s,ss are nomlnaly before. 6a6l for hstclats Bills
The Freight market is heavy and quiet. The
engagement. Of Cotton are anal, at 732iGid. Abou,
no ton. Bacon and ether Heavy Freight taken at
%, sdaS. Corn Is 5da5id, vithcu, much Offering
To Holland 1900 bbls Oil engaged at SIC, aud 800
bales Cotton at 1864.
The Receipts at the Sub Treasury today
Payments 90 80
Balance. Ao'~''
The private letters from London in regard 10
Irnorcsn Stocks are much more gnfayorsbe. gen
orally than the statement In the telegraph message
The demand for Government Stocks had fallen Of and
es had been Effected only at lower rates. The grow
Ing confidence French securities which had Induced
Investments had operated uniayorsby on Consols and
American Stocks. leading banking house 10 London
writes 10 It's correspondent here that the New Loan
had been sold ct 1854. but thu, the market the close
Wa. dull st lo5 and that 1t would DO difficult TO sell at
IO. to any considerable extent The demand for Mas
sschuse,s Stock, however had been large, and the
market had advanced to lO4i about the price
the National Loan. The supply of State Stocks was
larger, aud the prices generally lower. The quota
lions arc New. York s., 9i99J; Pennsylvania. 76
Ohio g. 1850 1894: do, 1890 95d96; Indiana 5Od
81; South Carolina, s5ds9; Louisiana s7a5s; Mary.
land e3dsf Alabama, 6Od62 Virginia 81 d93; Ken.
lucky 9lag2 The following are Barings remarks 10
regard TO our Stocks;
Anenesn have been sacb active demand ior The s
rsast sac. ,nes The svs lie steamer
nlos4 400 ~s qooe them lo39i A-esma ttHbo 40 oJd.
Usss Bsns MS. s7as or sss ss..sehu,su 100
ono offered for $50 sios ana for sale seller. Maryland
> o
P,-', 90 bsysr Us'on Ban 30 nomaai Tennessee noHa
q s.~ Yors CITY, s6as0
letter from Hamburg states that the market there
hsd gone up to o. equal 10 10 in New York. but that
II had snerward declined to 81, in consequence Of
large parcels coming over from London The market
afterwsrd recovered to 81. The house which writes
this letter, one of the most respectable In Hamburg
does look for much, If any, higher rates for our
Stocks.
The steamer brought $4,000 in coin from Hal
lfax and reported to have gold on board from Lis-
srpool but we could not trace the report There 10
none In the manifest
very strong remonstrance has been drawn up
against the passage of the direct Railroad bill from
Syracuse TO Rochester. and large nsmber OF sigma
lures has been obtained We have ne hostility to this
road in particular Its projectors bu, we fear for the
precedent which will be established should the public
utility OF 1t be declared by the Legislature Expensive
Railroad and Canal enterprises Of gres, public value,
aud Of almost imperative public necessity. will be
fatally embarrassed by the adoption, by the Legislature
of the precedent that parallel Railroads other pub
he works may be constructed. We some days ego
gave abstract of the able msjori,y report OF the
COMMITTEES of the Legislature this subject, snd
there 10 little to be added TO their arguments In full
reliance upon the implied agreement of the State TO
protect the line heavy amount Of capital has been
Invested In roads between these two points subject TO
the control OF the Legislature In the matter OF fares
&c and which roads have just expended large sum,
nearly million of dollars In RELAXING the racks with
heavy iron. NJ the requirement of the Less AZURE
The value Of these Investments which have been mace
In the above reliance the faith OF the State to con
adorable extent by trustees Of estates by benevolent
Institutions and by foreigners would be messuraoiy
destroyed by the building Of parallel road Already
the agitation Of the question has reduced the Stock OF
one Of the roads 90 y cent and thst OF another TO
Is cen, below par. The property of innocent parties
should thus be put in jeopardy unless under the
requirement of a great public necessity which does
not exist 10 this The public convenience to be
served by the new road 10 not Sufficiently great to su
thorire the Legislature to destroy the property OF
those who have invested In the old roads under the
implied guarantee of the State. Should this bill pass
the LEGISLATURE 1t would be fatal to sill new Railroad
-
not We, these facilities for transt must look In vain for
them in future. Capitalists will no, rick the large
smo nts necessary build Railroad in an enterprise
which NAV at any time be destroyed by Legislation
Not only will such legislation have this effect but the
Stocks and Bonds of those roads which arc completed
or are In course of completion will suffer under The
dstrust engendered thereby Unfinished roads VIII
find new difficulty In raising money by loan upon Sc
euri,y of such doubtful value and this arrest oil our
public works will prove one OF the greatest misior
tunes consequent upon such unNise lessisuon-
Among the strong arguments sdduced by the oppo
nents Of tho parallel project are these ihs'
the present Compsoies were compelled by ther sc''
of incorporation TO locate their roads on certain ne
that the to these stocks were made 10 iuu
reliance on the faith Of the State, implied II not ex
pressed, that by Legislative action would me pro
party OF the stockholders be rendered comparatively
vauoess for II 1t had been supposed that any parse
road would any time be constructedw we hrmy oehe'e
that one dollar subscription could have been oon
Cd 70 the stock Of either Of the present Conpane'
tba, the present Companies owe to the Stale 'Nse
debt the security of which ought not 10 be oy
Legislative action that they have oeon lately comp
led nv the State to increase by the expenditure ola mil
million Of dollars more, the cost oil the p'0PeiS
which will be materially lessencd in value IL not dee
49, by an equal division of the travel between the two
lines At present rates which 70 per cent less Than
they ever have been neither would 10 our opnoo earn
sutacien, smont TO pay Its euren, expenses thai the
faith Of the State existent Corporations should not
be impaired BY action Of Legislature because capt
tssts At home aud abroad will lose all confidence in the
stabily OF Investments whose vitality can at any mo
meat be destroyed by Legislative cpsciments and II
will be impossible TO construct roads already su'Soz
ed or which may hereafter be authorized however i'm
port.nt their construction may be public Interests
or hswever dazzling their prospects as profitable inves
en, ,ns, The agitation of ,h. paraelfoad has already
essentially reduced the msrke, value OF the stock oil the
preseu, tina, Of one being thirteen per ces'
ana the other twenty per cent beE par thst The pre-
sent roads cave now the competition OF the Syseu'e
and osweso road, which to some extent operates IS
parallel road while In prospect they have the eomPe'
don Of the NewYork and Erie that the argument 10
favor Of the parallel project that only BY The com
petition Of parallel roads that the fares can be reoueeo'