The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-02-28
GOMMERCIAL AFFAIRS.
MONEY MARKET.

| MONEY MARKET.
Tuesday, Feb. 27-6 r. M.
Tho upward movement In stocks renewed to. day,
and all the fanoies advanced The bulls appear to b
too strong for the bears in the of the large
deposits Of specie in the Subtreasury The prospect
Of distribution Of tho government funds, 81
the appropriation bill passes both houses Of Congress
takes away ell the horrors Of the operation Of the In
dependent Treasury system and relieves the market
from the depression which would otherwise be exps
risnced. At the first board to-day, U. S. 6 1862 ad-
vanced u per cent U. s. 6's, 1885, Y; Reading Bonds
Ii Farmers Loan, u; Canton Company n; Morris
Canal y; Harlem u; Stonipgton u; Long Island y;
Reading Railroad n; Psnnsylvsnis SIS fell of u per
| cent, and Erie Railroad 4. The transactions we're
large, and the bulls In fine spirits. The bears
have within the past day two, been buying In their
shorts many Of them not daring to risk 1t any longer
Some Of the bears purchasing faaces prices six
and eight per cent higher than those they sold at 10
deliver at the maturity Of their contracts or in anti
cpston Of their expiration II nothing transprss to
disturb the upward movement in the fancies the bulls
will drain the bears of all their prons of the past year
| or two
At tho second board there were large sales OF the
fsncies at an advance prices current In tho morn.
ing, varying from eighth to and half per cent
Treasury Notes went up u per cent Erie Railroad
u; Harlem Canton Company x Reading Railroad
u.
The Secretary of the Treasury has issued new in
structions relative to bonded merchandise. He has
decided that all stores may be considered public stores
and the addition Of the custom house lock is all that +
necessary to make goods store and 80 secured In
full possession Of the government
The Committee Of Ways and Means in the House OF
Representatives have made report upon the subject
Of American manufactures, SO, in connection with
the operation Of the present tariff act This report
condemns the present act . revenue MEASURE and
that has failed to the purposes which
It asintended As revenue it may have met
the wants Of the government but It has failed 1t Is
said to have met the wants Of the people, net pro-
teotpg. sufficiently their industry and most important
interests. The committee recommend modification
Of the present act with view to increase its protective
features There is doubt but that the existing
act is defeotive-that 1t Is not sufficiently protective
sndtthat 1t by perfect In the provisions
guating the levy Of duties but do not admit that
1t should undergo alterations to the extent proposed
% they would make such changes as would give US
new system, upon principles s,t,r.v I'll. r.,o.,
lengthy and brings forth all the old arguments. :.
prove the strength Of the position assumed III not
proposed to make the rate duties as high a. provided
BY the tariff Of 1872 but such ara re-.
Commended ~ will withour increasing much the ave-.
age psr osn give bette. protection to domestic in
dustfy' and more equitable system Of lsvSing those
adopted.
The extension Of the Baltimore and Ohio Rrailfssd
from Cumberland Its present western termination
to the Ohio river, has been finally determined upou
the question of route disposed Of and ooutras are
about being entered into for its completion is o.
minated that the cost Of the road to the
Will os $A,6oooOo. Is further estimated that when
ths road 10 completed to that point, the gross income
OF the road would be increased one half Or would
amount to $2,lta74s, equal to per cent on tn. A.
sragats cost Of the line The i've per cont sterling
bonds amounting to $4,000 900, would yield $21oo0oo
OF the road during the process Of extern
sion would probably amount to $1,3oO000 and 1t II
calculated that $500 900 be raised from the citi
sens OF Baltimore This would make the sum required
carry the road to the Monongshsa river,
provided ts revenues kept up to the pont estmatsd
The entire debt Of the main STEM after the road Wa
completed to the Monongahea, might be put down At
~ 100000 The entire capital invested in the road
thus extended, would BE- $ls 900 000 from which de-
duct the debt and there wsud be basis Of nearly Sps
millions Of dollars, for any future loans nsosasarv t
complete the road to the Ohio river, Independent Of
the subscription Of $780, 900 from the city of Wheeling
appears that the resources Of the company
are ample to complete the line and It is full time some
thing was done towards carrying out the plans pro.
posed This valuable and important work has fingered
10 many years. and its securities particularly
!" STOCK have become much dsprsoated that those
nave lost all patience and almost despair Of
being completed to the Ohio river from which
point II must draw On immense amount Of business
II estimated that the mail contract of the company
nom the Ohio to the Chesapeake, would BE- equal to
capital Of $4,000 oo0 ct the present maximum Of $500
per mile.
The agreement between the Boston and Worosatsr
and WNtern Railroads. for regulating the rates OF fare
and freight the joint line Of the two roads, AZ vsu
a. the manner Of conducting the joint business which
has subsisted for the three last years. has bs.n "a
nswsd, with some uncomfortable mo ainoations.
The annual report Of the Connecticut River Rail-
road Company states that the road Is nov oon,lst.S
to the south lins of Vermont, SO miles at cost Il
sltss,sA. The stock amounts to sI,2o7, $40. Ths
receipts Of the last as follows For psss.n
gers, $ss,es7i freight $rlso7; mails, express, 49,,
s7vs-sota'' slos %z-sxosedins the receipts Of lsay
By al 2os The expenses have necessarily bs.n
sweed BY the inor sse Of business s5T have been
sid out In building; $sab5s have been expended for
new cars and sngnss These, and ether expenses for
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