The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-11-15
CIirehugh, HAIR Cutter and wig Maker.
AIexander,s Tr,,o,,apbe
CO N NJ CIAL AFFAIRS.
MONEY! MARKET.


stocks day Transactions in the fauces not
large as at yesterdays board. The market IL weak
and the slightest unavorsble event will depress the
fancies very rapidly with all the elements of pros
rerity in the healthiest condition appears imposs
bic TO initiate prices for fancy stocks and II Is only by
combination Of NEST favorable circumstances that
prices sustained at present pointe At the
FIRST board to- day. United States SIS foil Off u per cent
Norwich and Worcester u; Reading n iilroad, "a.
New Haven Railroad advanced y per cent At the Sc
cond board the sales small without any material
alteration In quotations.
The receipts a. the Office of the Assistant Treasurer
Of this port, to day, amounted to $50 o62 payments
$l43 6S7; balance. s3s3s.s2S IS.
The steamship Great Western, from ST. Thomas and
Bermuda, tVings SO 4S1 in gold and silver
The financial operations OF the Erie Railroad Com
psny Of the most binary character There
Is any quantity Of the certificates of the company
floating about Wall street which have been negotiated
at the rate Of one and quarter and and half per
cent per month These certificates have different Pc
RODS to run, and taken up as the company get
funds. While the company are raising money at this
rate Of interest 1t is reported that but very
few of the second mortgage bonds have been sold.
This however is not true and IL 1t was, 1t exhibits
ignorance, on the part Of the management, almost
criminal. II the company bad on hand any amount OF
those bonds, Il would be the height of folly not to
take advantage Of the present easy state of the money
market TO dispose OF every dollar Of them. The fact
that the company is borrowing money at the rate Of
fifteen and eighteen per cent per annum Is sufficient
evidence that has bonds to issue at any price,
but have another fact which goes show that our
statement is correct. The second mortgage loan is
issued in 900 bonds aud 1t requires, therefore,
issue Of four thousand bonds to make up the
There already in the market bonds of the second
ifsue numbered high enough show that the company
Will have to borrow money their certiacates to pay
the interest the stock due the 1t OF January 1850
The market price Of the different curises Of the Erie
Railroad Company shows very curious state Of the
public mind relative to the ss investments. The first
mortgage per cent bords sell at pr cent dis
count the second mortgage per cent bonds at 10
per cent discounts the certificate bonds per cent
at 20 per cent discount and the stock at 40 per cent
discount. This is an extraordinary comparison. II
the stock really worth thing the bonds worth
par The last Issue OF the second mortgage bonds will
be exhausted by the 1t of January when the company
will be compelled TO suspend operations in the
sructon Of the road rsise money another loan.
This Is the point. AS soon as the present cash re-
Of the company exhausted. there will be
q erisis. There will be money 10 pay inte-
rect stock bonds, except what Is 10 the hands
of the Comptroller and the company will have 70
credit to borrew a dollar with three classes Of
bonds already in the market, the lowest selling
ut 20 per cent discount, aud ak millions Of stock
issued which is sellpg AZ 10 cent discount how
be expected that another loan be negotiated
upon any but the most ruinous terms II A. alli tits
our impression that another issue Of per cent
bonds Of this company, for one million of dollars
would not sell At seventy per cent. As for further
issue CT stock IL il entirely out Of the question This
will be the position Of the company With no money
no credit with the market full Of its deprecated and
"A ufth M
tive mismspsssd and expensive read the prospect Is
by no means natteripg The crush that we have so
lorg predicted r. at hand than IL generally
Anticipated, and when 10 comes II will scatter
ruin bread cast through this section Of the country
There are Thousands depending upon the punctusi
payment interest upon the bonds aud stock Of
this company for the Of living, who little dream
Of the difficulties surrounding Them imagine that
their income Is preesreusiy situated The question
naturally arises what will be the result OF all this And
we can It, by saying that It is impression
that the road will be extended upon the ne. earnings
Of the company. Instead Of paying sA per cent In
tsrest the stock, In cash. every annual payment,
thus far having cost the company dteen per
cent? it must be paid II paid at all In scrip; aud the
money appropriated % the building Of the road. At
least Eve hundred thousand dollars be sppropri-
ated in this way the extension Of the line and stock
20 that amount issued ut par The annual oterest
the present debt amounts 20 SOcoOOO leaving out all
the extra rate. paid In Wall street. pay which viii
require gross income from the road OF FROM niteer
10 eighteen hundred thousand dollars. Only about
one half Of that income is received, and the an
nual deficiency ust be ruinously large Thrust anaiiy
come to issue OF scp, for the interest the stock
ct least.
The returns Of circulation OF the Irish and Scotch,
banks for the four weeks ending the 9th OF october
vh,n added together give the following the average
weekly circulation Of these banks during the past
month, viz -
Average circulation Of the Irish banks. el133e2s
Average circulation Of the Scotch banks 3l3s4h
Average circulation during past month. .fI27sSis
On comparing the above with the axed issues OF the
several banks the following appears to be the state OF
the circulation -
The Irish banks are under their dxed issue go 900
The Scotch banks above their fixed issue o. 200
Total under the fixed issue...... .e2le53 6l
The amounts Of gold and silver held at the head
Offices Of the several banks during the past month have
been fcows:-
Cola and silver held by the lrish hsnks. .ft55G2i3
Gold and silver held BY the Scotch banks.. sTTy5ts
Total Of gold and silver held. ..... ga I5376i
The above returns complete the statements Of the