The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-06-26

HONEY MARKET.

Inc STOCK market opened heavy this morning aud
many of the fsnces fell of fraction. Reading Boais
declined Ia per cent; Harlem ~ Erie Railroad n;
Morris Canal y; Reading Railroad Il. Canton Co.
advanced u per cent; Stonngton d; Farmers Loan
~ There large sales Of the leading fancss aud
the bulls completely loaded down with thsm
The only way they sustain prices to pre-
vent greater decline than is daily realised is TO take
all that Is offered. There is immense amount Of
stock in the hands of the agents OF outsiders waiting
for rise of two or three cent to be put the
market; and if rise to that extent be- brought
about, many holders will be much relieved.
At the second board Erie Railroad fell of u per
cent; Harlem q The California gold fever is again
disappearing. The arrivals Of precious metals in the
Crescent City, not all gold from California. A
portion Of 1t was in specie from different points
the Pacific coast consigned to houses and ndi vduals
In this city engaged in that trade The steamships
California and Oregon from San francisco, brought
but $3.50 0U0 OF gold dust freight This is probably
the bulk Of the balance of last years diggngs; and il
SO, cannot expect any further receipts to any
until late in the season. when the dggers
from the mines and the result Of the years. work IL
better known Recent accounts from California must
be somewhat Encouraging those who have not the
physical ability to stand the labor required
to gather the precious stuff and If the danger
toll and exposure represented are necessary to be-
of the great numbers who have departed foe tho FL
There u.s. without doubt gold enough in California; but
it will require the hardest kind OF labor to get it, aud
that labor will prevent any depreciation Of
in its value
The receipts to-day at the Office Of the Assistant
Treasurer this port amounted to $265 e9S a. pay.
ments $5,s43 81; balance Sles77l3 AZ; Treasury
notes surrendered for stock during the past week.
$139.45O. The deposits have Increased more than o
million of dollars during the past week.
The interest the Indiana State hvss falling due
the LIST of July will bs paid that day and that on
the bonds issued the loan for the Of
State Bank on the 30th inst
The Lebigh Navigation Company have given notice
that the books open At the office Of the company to
remain open until the LIST OF November unless the stock
IL sooner subscribed for subscription to the capital
stock Of the company not to sxcsed in amount $4,000
shares-no subscription to be- binding unless 10000
shares subscribed This subscription for the
pose OF paying the back interest the loans
amounting about $3.50 ooO 1t is supposed that this
arrangement will enable the company to soon
mepce the Of dividends the stock The par
value of the shares of this company is $50 the
market price sos 500 The certificates of interest,
with one hundred dollars Of which skates may DO
bought are selling at 81 $5a In consequence Of this
DEPRECIATION In those securities, II WILL doubt, be
difficult raise the subscript required The
pany doing good busness it owns immense fields Of
coal from Is 900 80 900 tons Of cool weekly
sent to market 1t will be necessary for holders Of the
old stock and certificates to forward and take
these $4,000 shares for the to buy up the
certificates of interest 1t the depreciation and issue
just stock enough to for them vt the best market
prices. The EN- disbursements under which many
panes labor similar these prevent the realisation Of
F~v hla thn If NM tran
sacted would warrant in consequence Of the sacrifices
necessary to be funds to keep the wheels
in motion The original Of these difc ulties 10
bad management, and the extravaganza OF those who
were engaged in their construction. The FIRST stock
helders invariably heavy losers, and usually and
themselves In the rear Of mortgage loans, floating
debts preferred stock and dozen other things which
drain away every fraction Of the income long before
their claims are acknowledged.
The Albany and Schenectady Railroad Company for
merly the Mohawk has declared q dividend Of 3k per
cent for the six months ending June 80
The White Water Valley Canal, Of Ohio is in a very
prosperous condition, will be- seen by tho annexed
receipts for tolls and water rents
WHITE WArEs VALLEY CANAL.
Amount of tolls received from 10th September,
ls4S to 3lst Nay lS4S, both Inclusive .S3Silz ~
Water rents during same period. 55So 81
The cost Of repairing the injury ooeasionsd by the
pany realised ray 900 from the Of 1sis
may realise $l2 0OO out Of the II
1s4s; the remaining s34 900 will have to bo discharged
out Of the canal The debts for repsirs
OF 1918 aud repairs will b. paid, PROBABLY,
before earlier debts 1t is expected that this canal will
complete order by the middle VI September and
that Q lar business will be done.
The Galenx and Chicago Railroad will be completed
from chicago to Cottage Hill eigh&een miles, BY the
4,h Of July The daily receipts now amount to $50
and SEQ being vt the rate OF SIS 900 per annum.
For tho benefit OF thoss doing business with Canada
the leading sections of act passed in Par
lament which goes into operation on the LIST OF Au
gust for the regulation OF inanl and foreign bills
Of exchange and promissery notes.
Any bill drawn or note made payable to the order OF
any person. to ths order IT tue maker or drs yer
thereof shalt be- transferable by endorsement either in
full in blank or by delivery and the holder uni'r
blank shall have the same remedy ~
tion NJ II the endorsement we're la full
Three day Of grace aud next after the day
VIII. u such bill note snail become due and pay Sbe,
after the day when such blii shall bs presented to
the d. aver thereof shall bs allowed for ths payment
hereof and .hai b. reckoned to expire in the
Of the third Of the said days OF grace unless the
said third day shall fall ON q Sunday holiday when
the next day ding not being Sunday or holiday
,hall be- tn, sst Of the days VI Kisce
Nothing herein contained shall be construed to en-
title the maker VI any note syablo on demand to any
Of or to prevent the holder from demanding
payment tor the same At any time aud protesting for
hencser any bill shall b. rfa,ed acceptance by the
drawee thereof the may be- forthwith protested;
nd after notice Of such protest shat have been
Qiveb The parties liable such bill, the holder
hereof may insist immediate payment from the
aid parties and may for and recover the amount
bill with and interest, IL the same rad
natur.d and been protested for non. pay nent,
vid, 4 hat when duo notice Of xccoptsnov snau
have been given to the said parties it shall not b.
e,,a,y ward to present the said bill for payment
such b. made to give notice OF tue
duh, IT, NJ The expiIA ion VI ths oreaoon VI the
lat dAV of vi enIlv Dr Al III.
boupr thereof may the " DO duly present.
pay ment aud In default thereof To b. protested
o pr~sentn,rHt and protest for payment Of suy
bill shall be sufficient to eharg. the parties liza
Gle such bill note unless suoh pre-ontnsnt aud
protect be given " tho said parties ~ hereinafter pro
Vid.d.
Ia. labl ty Of such acoeptor or maker toward the
hcldr si continue In full force although the liza
biy II b. parties he dis charged ironi th want
Or III. paliiA II prutett. or Of nutIen VI prDtest