The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-05-12
OORMERCILL AFFAIRS.
HONEY MAR X k Tt

afp
l xr in little better demand Railroad bonds were
49,, j.; ~ some extent particularly Erie converti-
-, 1872 and 1871 The stock market getting weaker
.,lv not that airy great depreciation in prices has
seen realized, but the disposition among outsiders
n purchase is getting less daily, and should not be
..ueh surprised TO dull inactive state Of things
ret in that would depress prices very materially,
any attempt should be made by any large holder to re-
age At the first board to-day, Nicaragua declined "a
per cent; Morris Canal \; Harlem, =; Stonington \,
Long Island a Norwich and Worcester advanced = per
cent; Mohawk u. AT the second board Canton Com
pany went up = per cent; New Jersey Zinc, i Harlem
2. Reading Railroad u Erie Railroad r. The market
closed with UPWARD tendency These are, however
spasmodc Efforts Of the bulls and afford opportuni
hes for the small holders realize which are to great
extent made avalable Outsiders already involved
IN the stock ecuatons Of the day. disposed to
enter at present. prices; and there no purchases
Nr delivery contracts maturing do not see where
demand is coming from to relieve present holders.
The steamship Daniel Webster, from Nicaragua with
ben days later news from California, is nearly due
She viii bring dates TO the 18th of April inclusive We
anticiDate most favorable intelligence by this steamer
Tbs most extraordinary financial Of the day
the decision in the Court OF Appeals to-day, declaring
the canal loan Of nine millions unconstitutional This
win spread CONSERVATION and dsmay among the
political fnanciers at Albany; we shall see all
sorts Of squlrming among those canal contractors
who have been so loud in their cry for the spols
This is final settlement Of the questions Unfor-
sunaey the Legislature has adjourned and all will be
chaos and confusion The Governor may call an extra
session of the Legislature this year go to work in
legal, constitutional way and make law authorizing the
loan Last year he called extra session to pass the
present unconstitutional law 1t will be curious to
watch the of these Albany politicians They are
m tight place They will find that, after all honesty is
the best policy We afraid the people will directly be
losers by this movement To carry the policy the
government far possible, the Comptroller was au-
thorzed to receive these canal certificates deposit
the issue of circulating notes. several banks have
given other security but this for bills received from
the Comptroller The decision of the Court of Appeals
destroys at this security and these bank bills
worth no more than so much beautifully engraved paper
We have frequently cautioned the public against these
canal certificates We have, time and again. declared
them unconstitutional and predicted the we now
have the pleasure of recording.
The receipts at the Office of the Assistant Treasurer of
this port, today amounted to So5219 o.; payments
$15633 94-balance S3,54lls0 80.
The Tontine Building Company have declared q diyi-
dend Of sixtyeight dollars per share.
The receipts of the Michigan Central Railroad Com
pany for the month of April in each of the past two
years, were as annexed
MICHIGAN CENTRAL RAILROAD.
Receipts for freight ....... S39s49 % s2I5lI II
Receipts for passengers. 53o46 % 357S3 81
Total receipts ......... 500 500 SO s57 2o4 SO
mn Decrease. ............. S35602 90
The number of passengers carried during April,
do do do do 1852, was 1855 1855
Decrease in 1852. Observation-Disclosures. $500
The decrease in the business of 1852 is owing the
effect which the long delay in the opening navigation
has had on trade throughout the whole West.
The Buffalo, Corning, and New York Railroad Company
will offer for sale at auction in the Merchants Exchange
to-day "wednesday four hundred thousand dollars of
aheir first mortgage bonds payable in 1867 with
percent interest payable semiannuay the Bank OF
Commerce in this city This is Legitimate issue of bonds
properly secured and the objections have advanced
relative to county bonds issued for railroad companies do
not apply to these First mortgage bonds issued by
railroad company favorably located the Buffalo and
Corning road the best securities Of the day
In fact, We know better. Holders have the first
hen upon the entire property of the company and all
ture expenditures the road serve to increase and
strengthen the security The above bonds is
part of million authorized to be issued the pur
pose Of completing this road and secured by first
mortgage the entire and franchises by deed
Of trust to John A Stevens James S Stranahan and
John A. c. Gray trustees. and convertible into
abe stock Of the company. at par. any time within five
years Aem their date
The State Of Pennsylvania is in the market for loan
The Philadelphia Ledger says
The Secretary of the Commonwealth has given notice
that proposals will be received the State ury
until the 18th of June next for the North Branch
loan Of $3.50 600 at rate of interest exceeding per
cent payable halfyeary. in specie its equivalent
This loan is for thirty years. and is exempt taxation
for any purpose whatever The certificates will have
coupons attached and will be issued in of one five
and ten thousand dollars.
Bidders for the loan will remember this fact and
shape proposals accordingly which must state ex
o be ken. he rate
OF interest, and the premium but smaller fraction
than d cent will be entertained bid. The State
the right accept the whole any part of the
sum offered unless the proposal stpulaes to the
trary This will be one Of the most desirable loans ON the
market and will doubt enlist the attention foreign
capitalists. The law limits the rate OF interest per
cent though we have doubt it will be taken at con-
sideraby ess than "a part Of it probably low
sent The fractions in the OF interest limited to
the larger parts Of dollar that is the proposal must
name per cent a. IA "A a. &c; Sths, 10ths, 16ths,
&c, will not be considered one-third is payable on the
acceptance of the proposal one-thrd in fifty days and
one-tbird in one hundred and twenty days.
The tolls received all the New York state canals in
the month of April in each the years 1851 and 1852
follows
1851 from 18th to Both April. Is days .. 1907 se7
1862 10th to 30th 10 ays........... 13l sol
Falling off s1663ee
There several reasons for this dimnution In the
FIRST place, the canal opened five days later this year
Lake Erie opened the first of April last year and not
open before the first Of May this year late opening
Of the lake which kept boats at Buffalo, and the breaks
ut Medina and Albion prevented boats from taking re-
turn cargoes from tide water before the first of May thus
diminishing the tolls at both ends Of the Erie canal
In addition to these reasons the railroads having
freed from toll took much larger amount of freight
than usual during the suspension Of navigation
The annexed statement exhibits operations at the
branch mint Of the T. s. at New Orleans during the
month Of April 1852
tsrTEp STATES Branch MINT, NEW oRLEASs-Drpos1rEs
AND COINAGE.
Cold 1892 200 rs, Of which S379126 u Cali
fornia gold s3e22o0 IS
Slver, S9,3o3 % Of which 81 100 50 parted
from California gold. ................... 9303 q
Total amount of Deposites ......... S4Ol SOB So
Cold. COINAGE
1880 Double Eagles S34sO00 90
Agan H~tI