The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-10-03
MON Ely M A X X EFT.


Erie Bonds, new, advanced q per cent Erie Income
Bonds "a; Erie Railroad /; Harlem, X; Reading Rail-
road, IA Erie Bonds were in active demand, and
there were sales at par time At the second board
Reading Railroad went up l per cent Harlem, 81
Portsmouth Dry Dock, u. The market closed firm.
Operators for rise ut present prices feel full
fdent as at the commencement of the upward move
ment, and buyers time daily be ,oming pertier.
The receipts at the Office OF the Assistant Treasurer
of this port to-day, amounted TO 93 payments
s7,a31 65-Bslsnce, SIS csc O9S Al.
There has been active demand for land war
rants since the adjournment of Congress- and holders
have exhibited disposition to sell We quote $l35
$40, at which few have changed hands. The Land
Bounty bill mas been laid the shelf and the proos
bility lie, that it win not be again acted upon until
the close Of the next session The market VIII
doubt, soon be swept Of all the Mexican land war
rants, and prices must rapidly advance.
The North River Insurance Company have declared
dividend OF 10 per cent. The Firemen's Insurance
Company . dividend Of 10 per cent.
The steamship Empire City, from Chagres, is due
with two weeks later intelligence from California
from one to two millions OF gold Our next advices
from San Francisco will be to the lst Of September
There have BEEN within the past two three weeks
large purchases OF the stock Of the Morris Canal Com
paDy and the parties interested have played the game
SO tkfuy, and have operated SO quietly, that they
have absorbed most Of the floating shares without ere
stng any excite ment, or any important improvement
in prices very great change has taken place In the
financial Affairs Of this company, and arrange ments
have been ads for placing the canal in position to
DO any amount ofbusness that may offer. Since 1916,
the increase in the receipts of the company with the
present limited ability to carry freight lowing to the
inclined plains not being sufficient to convey boat
containing more than thirty tons of coal or other
freisht) has been thirty per cent per year In
1915, the receipts 100000. This year they will
be s1o3 000-a fufcient sum to pay the expenses Of
working the entire line of the canal and leave $4,000
to be dsposd OF as the directors may At This
plus will pay the entire interest the debt at
per cent and leave $4,000 surplus to the stockhod
This result will be deemed entirely satisfactory
when 1t Is known and understood that the altera-
tion of the plains to that which has been
In operation nowIfor two years-wi be made and
pettd by March 1851 rather at the opening OF the
canal next spring The money for such alteration has
been subscribed In the form OF preferred stock aud
subject to such calls as the company may make Tbs
interest on the bonds Of the csmpany has been paid
to 1851 leaving the company free from all embarrAs
ment until the opening Of the canal In 1851, when the
moot satisfactory results anticipated BY persons
fully competent to judge, and who net ssnguine
men.
The alteration Of the plains will enable the CON-
pany to pass through the entire line Of canal seven
tyton boat; or, rather, they will then be enabled to
take the Lehigh Companys boats at the terminus Of
that eompsnys canal and pass them 10 Jersey City,
without the loss Of tranihpnen. Of coal By this
rsngsnent, the Norris canal will Be enabled to pass
down 3o0se0 to 100000 tons of coal per season In ad
dtion to this It Is estimated tina. at least 100 900 tons
Of other matter viii pass throush-gi.ins . ton
mage Of about 600 tons This will give the
company $500 After dsduetins the expenses soo
ooo-for It will cost pass 500 900 tons than
Il does looo 600 tons the locks and the
tendance necessary for the the other and In
tsr s55 Geo. there will be left tsiS 900 for the stock
holders In 1851 This the capital Of 10000 shares
or 100000 Is nearly eight dollars . share the
one hundred dollar stock or forty per cent on the
stock now at eighteen dslisr', the present price.
The entire line Of the canal viii be In operation In
1881 including the section from Newark to Jersey City
which, at that time will be In thorough repair and
vissble order.
The receipts Of the Erie Railroad Company for the
month Of ssptember 1889 compared with those for the
corresponding month last year, we're 90 annexed
Nrw Yors AND Enis R.ILroAD.-sur. 1850.
y Passengers and mall. ................. SSH IS
Total receipts ............... ..si5o,olT 81
Receipts for September, lsie. ......... TT.oss ~
Excess In September, 1850. .......... s72s 2s IL
The aggregate receipts from January 1st TO October
ist 1850 amounted to a. against s53sess %
for the eorrsspondIng period last ysar showing In
In nine months this year Of t6i7eoI 30. To
msts up aggregate Of $3.50 900 for the year the
average receipts per month for the remsisng three
months must be sl2o1s5. 1t IL estimated that the
Earnings for October will amount to $4,000.
The President Of the Mineral Bank Of Cumberland !
Maryland In relation TO the reports recently put
In circulation calculated TO injure the sreft Of tina,
institution, says -
There 10 not one word Of truth In the report Our
bank has not employed, either directly or Indirectly
any psrssn in Michigan or any other State In the /
Union, to circulate our paper. On the contrary, We
want. Our bank IL doing two thirds Of all the business
in this county-a lsgitimste banking kssi.e.s-uone
better or more profitable In the Union. We DO the |
business q all the coal and iron companies In this
county and the business Of the Baltimore and Ohio
Rsilrosd Company, which amounts 20 tiO0 coo per 1
mouth 90 that have st home for all our eircu-
lstion ard coed deal more n We he'd apital NJ our
charter, limited A. circulation 10 the capital
paid In, Our circulation IL ell taken up In bu.i-
ness Our stock IL par and you cannot even buy at
par. do not believe there Z. bank In the Unou in
sounder condition, or doing better, safer. o.
profitable business. There s not one share Of our /
stock held In the state Of Nev York IL there
individual out Of our county, Who has any control
or in the bank.
The sRne1ed statement exhibits the quansty Of
tain articles sxpsrsd fro, this port darsg the week
ending the Let instant the destination