The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-11-13
FINANCIAL AND COMMERCIAL.
MO N Ely ARK E II q.


The stock market this morning opened rather hsty,
owing to respecting Nicaragua but the maintain
of the price caused the market to close firmly. Mr.
James De Peyser Ogden has been elected President of
the company in the place Of Mr. g. 7. Snow, who
signed his situation BECAUSE understand he intends
taking up his residence in Europe permanently. In the
afternoon the market quiet but steady The pccu-
ave tendency Of the foreign markets which is exhibited
in France and England has not been impaired to
stock market but this state Of things the other side
will finally be felt here. The speculation far, has
been confined to Wall street and outsiders have not par
cipated to any extent New banks being
in every section and the volume Of currency is rapidly
increasing Several institutions In embryo in
this city. The Corn Exchange, the Equitable, and
the Miners Bank about organizing under the best
auspices At the second board the market firm aud
closed with an upward tendency Nicaragua improved
y, Erie a. Norwich 4, Portsmouth u Cumberland
fellof ~ closing sales at 6Si4.
The receipts the Office of the Assistant Treasurer of
this port to-day, amounted to s62,l53 IS; the pay
meDts were s5o,S52 6s-leaying a balance hand of
S5,sls 5l3 GO,
The Commissioners Of Public Works in Canada give the
annexed amount Of internal improvements in the
try particularly of the important canals connecting the
different navigable lakes and rivers
Pubic WORKS IN CANApA--PRocsEss OF INTERNAL M
PRovEMENrs.
Our predecessors in their report in ]s4s pointed out
what they believed remedy for this deficiency the re-
arising from The St. Lawrenc canals, by recon-
meraipg ship canal to connect the St. Lawrence aud
Lake Champain and stated that its early construction
is mpe ativey called for to complete the chain Of
ale dy in and to render them profitable ss well
convenience to the province
In this recommendation the Undersigned fully concur
and to point out for believing that until this
work constructed canals will fail to compete
cesully with the Erie canal and the railroads the
south bank Of the st Lawrence in the transport Of pro
perry TO and from the Atlantic seaboard in the United
states, and with the Western States and Canada
The object of canal to connect Lake Champlan with
the st. Laurence, is to furnish cheaper, quicker AMI
(rom reduced transhpma nts Desirable route to
The great trade which passes between tide water in the
Hud river-the railroads of New England and the city
Of New York the one hand and the Western States
and Caraaa, on the other-and by so doing. to bring
traffic and tolls to the ST Lawrence canals which by the
competition Of the oswego and Erie canals and Ogdens-
burg and other railroads and the want Of efficient
connection between thsm aud Lake Chsmpain obtain
scarcely any of the transit trade between the Atlantic
and the Western States or Canada.
For this transit trade this canal will be competitor
with the Erie and 0swego canals the Erie, New York.
Central ogdeDsburg, and Cape Vincent railways If it
be shown to be desirable route for the through
traden either of those above mentioned ts Importance
investment well its influence on the costly
canals Of the st. Lawrence, cannot be overfatej
By furnishing direct cheap, and ospacious eommu-
ncaton between the great numbering districts OF the OF
tawa the Upper and Lower St Lawrence and the great
ett lumber matt in the worldthat of Albany and Troy
it viii enhance the value Of of staple exports,
the importance of which Is becoming annually greater;
the supply of which we shall control almost exclusively
entrance OF this canal in grand
mupjcation, unexampl,d facilities.
by connecting Lake Champlain with the st Lawrence
upon an efficient scale open the districts upon that
lake to the via Quebec and afo them through the
Rcheeu river shorter and cheaper for imports
Of coal iron. salt fish Oil &c. which articles be laid
at Quebec at cheaper rates that any other ame-
1csn port in consequence of the large amount Of ton
mage entering nwards in ballast In pursuit OF cargoe Of
timber.
Having noted the object Of this work II will be proper
to show What the trade is for which will become
petitor For this purpose ell local way traffic should
be thrown aside and that shipped from Lakes Erie and
Ontario TO the Hudton river ard rice shown by
the Of the New York State canals for 1851 alone
te be taken into consideration.
Tho through tonnage which arrived at the Hudson and
was shipped of from the Western States Canada
as follows -