The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-12-11
CO MN RClAL AFFAIRS.
MONEY mARKET.


The stock market opened heavy this morning, so far
as prices concerned while the transaction were
larger than usual About thousand shares of Har-
lem andtgelve hundred shares Of Reading Railroad
sold at the first board at decline of "a per cent in
each. The sales of both principally on time Far
mers' Loan fell of y Ier {; Long Island, q; Erie
Bonds, new, and Erie Railroad, advanced a per cent
each. At the second board Canton Co. went up u per
cent and Long Island declined Y Harlsm closed at
prices current in the morning. The market closed
heavy, with downward tendency. Prices for The fam
cies have probably been inflated to the utmost extent
and purchasers at the highest point last week will
doubtless have to hold them long time before they
will realize cost, charges aud interest Government
securities have been little frmer since the arrival Of
the Europa but it will be difficult get any
ment in the face of the probable agitation OF the slavery
question in Congress during the present session.
The money market continues easy. The receipts OF
specie from California keep up the supply in advance
Of the demand, and the rate Of interest rules below
the legal standard. There lenders than bor
The horror that cautious, careful men have Of
all kinds Of fancy stocks and tue high prices ruling
good dividend paying securities throws upon the mar
ket large amount. Of capital seeking In In all
loans upon updoubted collateral Within the past few
days money has been in better demand, and more lu-
tied in supply. Nine per cent about the lowest
rate for tbs best paper and most OF that Offering was
taken at rates above that point.
The receipts a. the Office of the Assistant Treasurer
OF this port, day, Amounted TO $50 900; payments
Se0,4l3 95 balance, s3,759 200 S.
There were 277 packages of domestic cotton goods
valued at s1o6S, exported from Boston during the two
weeks ending the 18th inst.
The reported gross earnings OF the New York anS
Erie Railroad Com pany for the FIRST eleven months Of
1Sis amount TO hundred and assn thousand dol
lsrsrequrirg the of eighty thousand dollars to
ma roS rsstsu taofeEg ~ a.. TS-
gross income for the year will probably fall short the
above estimate several thousand dollars The books Of
the company close tsmorrow-Tu e.dsy and the semi
annual interest Of three per cent the stock will DO paid
on the lst Of January prcsmo rhssem ual interest
Of three and half per cent the certificate bonds Of
the also be paid the LIST Of January The
nggr,s gate amount which interest will be paid on
that day is IS COO ooe, eight mill dollars three
per cert 1900 coo, aud three and half per cent
on 100000 This will require the of s2i7,5Oo.
on the lat March, 1880 three aud half per cent In
terett will he due the outstanding second mortgage
bonds. This ssue, far judge from the num-
bers that have appeared in the market, amounts to
$500 eco; the interest ~b oh, due the LIST OF
Of March neat will be fl22 5oo which, with the
interest due the LIST OF January makes the aggregate
amount Of interest payable by the Erie Railroad
Company, ia period Of lees thaa sixty days,
$3.50 Geo. when u IL considered that this sum
Fany's Indebtedness, those interested form
idea Of the rapid Increase the this line OF
railr,ai. The aggregate amount 9f interest which
this company will have paid tor the year Guiding Janu-
AIRY l, 1850, viii amount 60 s,s5ou0; and the gross
earnings Of the company during the rarne period will
be lees than eight hundred thousand dollsrs showing
deficiency Il $3.50 oo0 between the gross income aud
payments Of interest alone This is entirely indspeu-
dent Of the eurr,n: running EXPENSES Of tho road. Az
he fsaal grawe A.. 81 81. a.. h.
eonelusively the correctness Of all our calcua-
lions and etlmstss in relation u the ansaeai affairs
Ct this company, aud NO point 20 gle state
ment We have made regarding the expenditures in tho
construction % the road aud the earning, from trac
that has not thus far b. verified The constructon
II the read to Ens and the amount required for the
payments Of interest up to the let q March 1880 will
take the whole Of the available Of the
pany, except about two ana half millions OF stock.
The aggregate cost Of the road Emirs at the pre-
sent time exceeds fifteen millions Of dollars; and the
resources Of the entire line will be much developed
at that point at any point west Of Elmra short OF
Dunhisk.
The Chesapeake and Ohio Canal will be plsted to
Cumberland by Jsnusry but owing to the lstensss of
the season II will not be opened for navigation until
the beginning Of March when, II Il supposed, large
amounts Of Cumberland coal will be brought TO Alex
sndria as tse Canal Company making every effort
to accommodate the trade shiloh f. TO be very
great Tho canal being Of large Dimensions E has been
judged expedient 20 construct ian steam
beat for its navigation to be ready for trial the 10th
Instant" which, II successful-and Of this no doubt
Seems TO he enter'anedthe business OF the canal will
he conducted to the greatest advantage. The chief
engineer Of the company having peted his surveys
for the construction Of slsckvater navigation above
Cumberland, and the estimated cost being much less
than heretofore supposed this important extension will
soon be placed under contract when the canal
reaches Nesternpor 1t will be then In the heart Of the
mineral region. where the Cumberland coal Ia not only
Of purer character than that heretofore brought to
market but bsirg entirely free Of slate there will DO
much less residuum.
The Baltimore and Ohio Railroad Company are prsss-
Ing their extension 70 the Ohio river with the greatest
energy and that portion Of their work between Cum
bersnd and the junction Of the Savage with the Potc-
mac, will be m operation during the Of the
Ing summers aud this pcrtios Of the road passes
through the coal field At wssterpport. u may be
most prohtsbly employed . feeder TO the Che.
fspeske and Ohio Canal, commencing at the canal
basin. four miles vest Of Cumberland as the grades
on this section Of the road light, and descending
the whole way More coal be transported that dis
tsnce within tho than has been carried during
the lst year the entire length Of the road to Bal