The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-02-23
FINANCIAL AND COMMERCIAL.

ina. pace:
FINANCIAL AND COMMERCIAL.
->~>~>>>~>>c~>o>c~>>r~~o
MONEY MARKET.
TUESDAY, Feb. 22-6 m.
We have no change of consequence to report in
the stock market to-day. Prices remain very fever
ish and there appears to be great apprehension re-
lative to the future There is no doubt but that the
value of money in England will steadily appreciate.
An advance in the rate of interest by the Bank of
England to four per cent, was talked Of, and it
the impression that the advance would not stop short
of five per cent Should this be realized there must
be heavy remittances from this side. In antici-
patton of such state Of things, we have no doubt
large sums now invested in securities in this country
on foreign account, will be called home. We look
for almost universal disposition to realize, particu-
lary fancy stocks, and where they will find resting
places during stringent money market, is more
than we can say. Wall street spectators seem to be
undecided how to act. Holders are in hopes a more
favorable moment to sell may come round, and the
bears exhibit desire to anticipate the maturity of
their contracts. The feeling in the street is decidedly
bearish. Uncertainty and doubt are apparent in
peoples minds, and no one seems able to fix upon
movement to follow up Everything in the financial
world is shaking in the wind and one knows from
what direction the next squat will come. To be
prepared for the worst it would be advisable to let
fancy stocks alone
At the first board, to- day, the transactions amount
ed to about the usual quantity. Cumberland Coal
advanced Il per cent; Erie Railroad, /; Morris Ca
nal, 9; Hudson River First Bonds, 4; Erie Bonds,
1871, i Sixth Avenue Railroad l. Nicaragua Transit
declined per cent; Parker Vein, 3; Hudson Rail-
road At the second board the market was slightly
better; but the improvement was by no means of q
decided character.
The receipts at the Office OF the Assistant Trea-
surer Of this port to-day, amounted to 1927 764 sO
payments, s90,356 62-baance, s5,041 ,O22 "A.
The following stocks were sold at auction this
morning by W. II. Franklin, Son Co..
1000 Corporation Water Bonds, 1855. ....... 90
l5 80 shares screw DOCK Company l211s
10 do Farmers Loan and Trust Company. ioi
10 do Rocky Bar Mining Company. ........... IL
The following are the importations into this port
Butter-so kegs. Beer-2eo casks. Coaee-sa 1874 bags.
Coal-a25 tons Cheese-121 cases. Cocoa-479 bags.
Dyewood-3,45o quinals logwood, 5000 gunals fusc.
Ida Kimbal per Sardinia 1870 per Albert Gaatin,
5s2 per Constantine Drugs-3e boxes magnesia $50
IA dozen pine apples Hdes707 hides 10 bundles goat
skins. Hats boxes Hops-52 bales. India Rubber
6070 bundles 1925 bundles hoop 1884 do sheet 100 do
pig 500 bundles scroll 30 tons scrap Lead975 bundles
casks rape do lemon do eask s
bundles. seed-1o sacks susar-27s hogsheads spi.
boxes tin plates. Tobacco-34 bales wood $50 bun
dies willow willow ware Window Glass 1o2 packages Wool
casks. Zinc-l3o cases, 80 casks.
The Bank OF Louisiana has declared semi-annua
dividend of five per cent and surplus dividend of
ten per cent, payable to New York stockholders at
the Merchants Bank on the 18th of March.
We have looked with much interest, and not lit
tie surprise, at the singular difficulty into which the
city of Baltimore has been betrayed by blunder on
the part of the Baltimore and Ohio Railroad Compa-
ny. The President Of that company has the reputa-
ton of being energetic officer and man of good
abilities; but in this instance he seems to have act
ed without his usual forecast.
1t appears that this company employed Mr.. Mar
shall, in ls47, to procure for them the right of way
through Virginia to the Ohio river, which for years.
that State has Systematically refused to grant They
made written contract with this man to pay him
$4,000 if such law was obtained at that session.
A law was obtained, giving the company all the
powers they needed, and accepted, and under its
provisions the great Baltimore connection with the
Ohio has been formed. Marshall claimed his fee,
which, on various grounds, was contested. Marshall
sued and the first defence resorted to by the compa
ny was, that the contract with Marshall was not re-
coverable at law, because against public policy, and
fraudulent in its nature-in other words, that the
company had employed fraudulent means to procure
the charter of their road The court sustained the
plea, and the company choused their agent out
of his $4,000; but here is the rub-the COM
pany, by this plea, awakened customer it never
dreamed of disturbing. The Virginia cities on
the Chesapeake, langushing under the shadow
of Baltimore, have long deplored the grant Of 1917,
which gave Baltimore power to strike down their
highest commercial interests. These cities have APP
preached the Virginia Legislature by memorial, and
demanded that this charter, obtained by Baltimore,
as appears by her own admissions the record Of
court ofjusce, by unlawful and fraudulent agency,
shall be revoked and annullcd The parties are no
longer Marshall and the Baltimore Company; but
this unfortunate affair has involved the Baltimore
and Ohio Company in war of extremity with
neighboring State and all the leading cities, aud
every great improvement now projected through Vir
GINA has been arrayed in eager hostility against
the chartered rights Of the company.
How this matter will result we have no sufficient
data tOJuuHc OH luclH pupiiShta w "'e MoiiH' III
tereting in their possible results the commercial re-
latons Of New York herself it is right to specu
late. As outside observers we are struck with one
feature of this strange controversy. Baltimore city
has been assaled in her morality and honor, (ruc,
by an Individually and the attack has been echoed
and endorsed by the highest and most imposing
powers known to our republican institutions. The
most vital interests of the CITY, as well as its moral
integrity, stand thus impugned, and yet not one
word Of justification or OF defence has appeared in