The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-08-29
COMMERCIAL AFFAIRS.
MONEY MARKET.
Tuesday, August IT

At the First Board u s. 6 1867, declined q per cent
Erie Bonds, u Reading Railroad, u; Ohio 6's ad-
vaneed Most of the transactions we're for cash, but
there sales Of Harlem on tims-seers option ana
offers without purchasers. Money is In more de-
nand and the banks discount cautiously They prefer
call loans on stock security that any contraction
that may be necessary be easily made This drives
great business int the street where the ruling
rates range from seven per cent The prospect
Is In favor of tighter money market than we have
realised for months which will bring out large amounts
Of which have long lain in the hands Of parties
In expectation of a rise.
At the Second Board there very little activity,
without any change in prices.
The receipts at the Office Of the Assistant Treasurer
Of this port to-day amounted to 100000 payments,
50 s7o sdvices, $4,000 balance, 2sol, s44 So
II 10 in contemplation to hold q convention of diree
tors and stockholders of the New England railroads. to
consider the expedency and necessity Of restoring the
old rates Of charges for the transportation of passengers
and freight for the purpose of nsurng the increase of
the different companies. 1t is the opinion of railroad
managers in Massachusetts that the present charges
much too low, and something must be done to swell
the receipts these works 1t is opinion that any
increase in the tariff Of charges will have an effect
just the of that anticpatedthat instead Of
Increasing 1t will reduce the income and deprscate
the actual value Of the stock Of all the companies that
make the experiment. Low fares and low charges
generally increase the business all railroads They
give an i'm petus to travel and in increasing the
Der Of gers increase the gross income Any ad
In the rates would have greater influence upon
the receipts from passengers than those from freight
and therefore affect the business of each company
in Its most vital point. The passenger business
81 railroads Is the most profitable of all; and
roads doing large passenger traffic more econo
nieslly managed and easily operated. There Is
very little profit In reghting business and those roads
that depend principally upon such traffic. really earn
but very moderate dividends The and tear of
motive power and machinery the employment Of
large number q to trsndle and dispose Of the pro-
perry the heavy expenditures required for
freight dsrots and storage room the of track SC,
ae draw largely upon the gross income and leave but
. small per cent o. earnings to squeeze out palry
dividend Passenger trsc is decidedly the most pro-
f,able, and therefore the most desirable Railroads
directly connected with large cities, connecting two
large cities have advantage those running into
the interior Ct sparsely populated wild, aud uncult
waited country Some Of the railroads Of this State
savorsbly located in this particular especially the line
running from Albany to Buffalo, interesting the
large towns the way while the Erie Railroad
and the ogdsnsburg road wall have to depend almsst
sntrsly upon their freghting business for
weloarn frcm the Syracuse sfcr, and also frsm the
- -. a., 80. :, r.-..,o-. :, - -. -.
s.,..... a.. 49,, an, po.s..,or p.,iro.a rorn.
- "a :, s~.....a.,, ,a ,o, -, q, -. -.
-. $50 =, an. .r,.,.,,r. % r.o,,,,,. a..
-. o,,,. 80, .on,n.n,a. so-rn,. a. .o,nor.,;o.
~ an. -. ,.,,,. I'D $500. Ia su,,.o p.,,..oa
r..,... .,,s - % .ou.,.ur. -, H.. -
- ~. -, -. 80 - - o..
-. 49,. .--.-, ,,,- r., 80
p''""' "''"''' s''""an' ""en, iyfo Aio"'A ""d
Palmyra connecting at Victor This will give railroad
-. '"' ." 'u' ea""' oo'
'"'sn i'"ehes's' ana syracuse TINS PROJECT Is en-
energy 10 w doubt not. be entirely satisfactory
20 all persons nt.r.s,ei in the canal route and will
give them railroad FROM Rochester TO Syracuse much
sooner than they could otherwise ever obtain the same
The committee consisted Of the Hon william A. Sack.
stt q Seneca Fslls A.a spragus of Rochester, E. p
Williams and T. \. Howe, Esq., Of Auburn. Mr.
Hove alone was opposed 20 the measure aud for th
reason that in order to compete With the New York
sna Fs read they would be obliged 70 lover the fare
ON this linz. which could net be done ~ they were
eomp.sd 20 sspend sn.ther million ON the new road
soniem dated from syraous. TO Rochester-a view
which seem. v.ry plsusib. INT ON the mart of the
majority, IL vas ccnt.aded that the New York and
Yri. rosa could not compete AT present prices since
thew v.r, l.,px over $500 coo annually ON the capt.
stocs and hence raise their fare or continue to
.. money and that An. travel ON both roads r m, this
eity 10 Roeh.a,.r would h. NOR. than ,uf,e,ent ia
meet every outlay "A. travel increasing I'm proportiou
70 the f.etic, which also s..ms vary
Tbs fourth animal ren.r, NJ IN. Connecticut and