The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-01-10

and too widely extended for any Immediate depression
In prices to any extent At the first board to-day U
D. os declined per cent Erie Bonds, u; Erie In
come BONDS y; Delaware and Hudfon, u; Norris Ca,
nall; Erie RR NJ Canton Company, ~; Harlem, X.
Stonington, Ia Resdii RR, Norwich and Worcester
"a PORTSMOUTH Dry Dock, u Rochester and Syracuse
NM advanced per cent; Illinois 6s,k Fsrners' Lean
u. At the second board Harlem Tell OF Il nor can't
stonington, y; Long Island up Der cent: Gan
ton Co., al Erie Railroad u. There were NO asiss OF
Morris Canal at the afternoon board At the arst hosr
improved the opening 1t 10 dangerous stoek for
the bears to touch, and they know It, Holders are
we'll satisfied that 1t is worth much more than Il ic,
selling for and II Is only those who compelled to.
sell, whe putting stock the market. READING,
Railroad has fallen OF two or three per cent lately
caused 1t Is said by the unoacal announcement thst
the dividend will be six per cent instead Of seven, GO
frat reported II six per cent is aid, there win be o.
surplus Of three per cent; seven per cent is paid
there will be surplus Of two per cent That 10 all tho
difference, and 1t amounts to just nothing ct all
Holders feel confident that In less than thirty daye
after the dividend is paid the market price Of tbs
stock will be higher than 1t 10 We learn that
contract has just been completed with the Portsmouth
Dry Dock Company, by party in Pittsburgh for the,
establishment Of large mandatory of glass, In ali
its branches upon its property. This establishment
will employ upwards of one Thousand persons, and.
greatly enhance the value Of the landed property and
water privileges Of the Portsmouth Company. Ports
mouth is destined to be Of the largest manufact
ring places on the Ohio river.
Notwithstanding the recent extraordinary buoy
ancy in the stock market, and the sxtrsordi-
nary facilities offered by the banks, for tho
encouragement of speculation, clearly before
rapid curtaiment Of loans and discounts, and III
timately . serious reaction in the prices Of fancy
n b-Tr
reduced to something 50 600 600 nd the spring
i'm portatons will to deplete the banks
to the extent of from $500 600 to 81 900 per
until the to the credit Of the government shat,
reach from $4,000 600 to 81 600 coo. This the
perence of last spring and must be the experience
this The banks are certainly not strong to meet
this demand upon them they year age,
notwithstanding the amount received from California
The demand for gold for the Southern market the i'm
mense amount now setting towards the West, to al
the empty channels of circulation caused by The high
Price Of silver the great and increasing demands er
widely extended commerce. the present high prices or
oil kinds OF securities requiring such additions,
amount OF capital to carry them, all to the
frequenters of the stock exchange and Others who are
led into stock specuaons by the prosperity
that surrounds them that a change Is coming which
may be most severe in it's consequences 1t may be
yet some distance off, and it may be at hand
hour when the revulsoa will come, but is viii,
sooner or later Small profits and quick returns
should be the policy of operators
The receipts at the Office OF the Assistant Treasurer
of this pert to day, amounted to sls5 345 az; pay
ments, 1886 27-balance s2124l17 90. The dutiee
daily paid on imports increasing and the deposit
rapidly ACCOMPLISHING 1t will be seen on reference to
our shipping departm emit, that many packet ships
daily coming in after long voy ages large number c
N nd he imn IN
be large Vessels which should have arrived In Dscem
Der are still absent
The message of the Governor of Illinois TO the Legs
ature Of that State says that the public debt amounts
In the aggregate, to $l5627, SOC The unsold canal
ands are estimated to be worth four millions of dollars
By the message of the Governor of Indiana We learn
that within the last nine years by taxation alone tbe
State has liqudated OF it's domestic debt In
and interest the sum Of 50 52e1 S. and have paid
interest on Its foreign debt including the January In
terest, 1851 the of s7ss, 400 making total Of
or over sa6o0oo per year. In addition the
ordinary expenses of the State sum equivalent to
half the present State BY the year 1875?
with the improvements proposed in our revenue sys
tenn the saving effected by biennial sessions Of the
Legislature, and the revenue to be derived from the
Madison and Indianapolis Railroad 1t 10 estimated ths
the treasury will be able within that year to appro
pirate the sum Of sloe 900 to the payment of tho
principal OF TIE foreign debt table has been pre-
pared with great care assuming the revenue OF 1859
to be $500 600 that the the
VIII be three per cent that the Of slO0 600 may DO
appropriated the fret for the ymsnt Of prnci
pal; and that this sum may be increased every year
thereafter By the three per centum Of increase ans
the amount saved in the interest account Under
such an estimate, which the Governor believes en-
tirelJ practicable the public debt will be iqudated in
seventeen years from the fret payment.
The ordinary expenses of the State government for
the fiscal year ending the 3lst day OF October, 1850
were $50 els 10. The expenditures for the ensuing
year, exclusive OF the expenses Of the conventon
are estimated py the Auditor OF State at $4,000 Tho
whole amount Of revenue paid into the Treasury
during the past year, on all accounts $3.50 xsl 70
which exceeds the amount Of the previous year
sisis7 ss The fetal value Of taxable property as re-
turned for 1850 is SlaI4is6e5 which 10 an increase
over the previous year, Of 81 0I4bo4
The annexed statement exhibits the aggregate oye
ment Of the banks Of Massachusetts, on the list OF Sep
tember 1850 according to official returns made to tho
government
BASRs OF NAssAcHusrrrs-srpr., 1880
- ~ Banks Va W BInkG o.
Capital stock psid IN s9o si ., oo s, n. a