The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-07-24

have been much better for all parties concerned and
for the country at large had shipments Of specie been
made at in liquidation Of any balance against us
in foreign trade than to carry 1t forward by sub
sttutpg evidences OF public credit thas only
depressing she Of Indebtedness but actually
gvipg impetus to private credit expanding prices
by creating q buoyant state Of the money market,
and bringing about artificial condition of things,
highly Injurious and calculated to lead ell classes
into speculation and sxtrsvagance Had large
Sums Of specie been shipped, when the excessive
i'm portstons had created . balance against us, 1t
would have operated as . check upon the move
mepts Of importers, have had tendency to control
prices and in this way have kept the imports within
safe and proper limits The amount Of specie neces.
sary have qudsted the balance at that time would
easily have been spared for credits not so much
expended, and there q limited demand for money
compared with the present moment Everything is
much expanded in financial and commercial
affairs that require every dollar Of specie hand,
a Q basis for operations and drain Of specie
would therefore have very injurious effect upon the
community generally. If our importations not,
for the future regulated more by ability to pay In
products Of the soil and domestic industry, shall
find the specie steadily leaving the vaults of banks
and the supply throughout the country becoming
rapidly reduced in the face large receipts from
land, the prospect Of any important demand of our
breadstufs was by means favorable. The weather
had been propitious, and the growing crops looked
he altby and vigorous. Unless change should take
place the domestic supply will be full average, and
outlet for receipts cut of.
The advance recently realized In Erie second mort
gage bonds is more than predicted some time
since. II has been matter Of considerable astonish-
ment that this class of security has been long
neglected While stocks bearing six per cent interest
have been selling at fifteen to twenty per cent pre-
MUM, the FIRST and second per cent mortgage
bonds Of the Erie Railroad company have ranged
fro m three to six per cent premium for the former
and nom three to ave per cent discount for the latter
within the past two weeks the second mortgage bonds
have advanced about three per cent; but they still
rule about four per cont below those secured by the
nrst mortgage. At present prices they the best
paying securities In tho market; and all things
sidersd, there is margin for further improvement
In EACH of ct least ave per cent When capitalists
md Il so dihheut to realise than i've per cent
per for their money it Is extraordinary that
the whole Of these Erie Railroad bonds not entire
y withdrawn from the market for permanent invest
ment. The time IL not far distant when they will be
sought after ct prices far above those current
and be considered then Of the most profitable in
yestments Of the day.
The Albany and Schenectady Railroad has been do
ing profitable business this season. the receipts
thus far this month shows very large July
Of last year. The the nrst week show in
crease Of eo nrst class that Of the
responding last year. 1904 that the second
1176 the third showing aggregate Of ovsr
that Of the three nrst weeks in July last year. The
turns Of the second class passengers for the three
weeks show an increase Of some 400 last year.
We shall in few days, be able to give full state
ment Of the business Of this road for the months Of
June and July which will better enable the public to
get at q true estimate Of the increase Of frame.
Counterfeits, Of the denomination of 81 and IS,
the Farmers and Merchants Bank OF Baltimore, have
recently been put In circulation The appearance Of
the 81 plate altogether dissimilar to that Of the
genuine. On the right Of the counterfeit Is q medal
lion vignetts of Vulcan and two female figures Of
the latter holding shesf Of wheat. No attempt has
made to initiate either the of the President
or Csshier The SIS quite o. unlike the genuine
and both may be readily detected BY any having
the least familiarity with the issues Of this bank
The amount Of capital stock subscribed to the Nil
waukis and Mississippi Railroad, according to the
statement made by the company the LIST inst IL
Ss9l 900, and the amount paid In $453,472 rs. The
residue OF bonds t1so oeosubssribed by the city Of
Mlwsukie II expected would be ready for delivery
next day Cruesdsy) which added to the above, would
make the total receipts sooa472 rs The expenses
which was for grading bridging, &C.. and the residue
for right Of way engineering incidental expenses 10
The Collector OF the Port Of Astoria, Oregon states
that April 1s 1872 to April 1t 1880 sixty
vessels entered that port, Wis: six ships thirty
bsrks, twenty eight brigs, and i've sehooners Two
sehoners the Pioneer built at Ctsop, and the Gene
raj Lane, built ct linn city. cleared from Astoria
originally and were sold ct San Francisco. During
the above named period the total tonnage amounted
to 1o17s Of which $50 In foreign vessels 900 In
American vessels from foreign ports, and 4,437 In
American vessels cosstwits The gross amount Of
duties collected during the period exclusive of
those sccruipg goods bonded and including amount
paid under protest, was s1e,4os "a.
The following the amount Of tolls received ct the
canal once In Chicago nom the opening Of the canal
to the LIST Of July IN each ofthe past three years.;
ILLps,s App MiosraAs CAsAL.
ls4s 1870 1850.
April. ........ = s2acs IS iofsS .
| NAV .Sle8s % 5000 II 127s7 08
Jun. 600. cora so 1851 Of io47l 50
Total %. .s11eol IS sH,4oo 80 $1,000 81
1t will be that the yearly increase very large
The total amount Of tolls received In June at all the
| ofbces was SASS -.
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