The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-09-13
FINANCIAL AND COMMERCIAL.


The market opened this morning buoysnt and active
Nearly Ill thu fances the list advanced fraction and
there buyers In the street than usual the
rst board Morris Canal went u per cent Canton Co.,
u, Harlsn, u Cumberland Coal, a; N z Central Rail-
road, III Long Island Il Erie Railroad, *; Hudson Rail-
road, X Parker Vein, 4. Nicaragua Transit de.
clined IL per cent; BEADING Railroad y; Panama
Railroad, ]. There are decided indicAtons Of .
Speculative movement in the eecoad market, and
should not be surprised to advance Of i'm
portaacs So far IS intrinsic value any thsfan
riss concsnsd there has not been the least improve
change but It il very probable that spectators
viii inaste the market value. We shall without doubt,
before the lapse Of many weeks, have comparatively
easy money Market and It is possible that such changes
may take place in financial Affairs through the infu
Of the foreign demand for our breadstus will
i've great impetus TO stock speculation.
The recsps at the Office Of the Assistant Treasurer Of
this port to day, amounted to &s22. $50; payments
$74 e12 L. balance, SO, G55, 123 SO.
At the second board, the market was pretty well
tanned Cumberland Coal advanced per cent Stoning-
ton, u Erie Railroad, II Harlem, ~ Nicaragua Transit
declined 4 psr cent As Nicaragua goes down in price,
the transactions increase.
II Is evl wiad that blows good, and thus
cuds that the present contest between the Panama and
NicAragaa steamship companies, win bring California
geld dust free Of fregh and afford additional
cation to travellers At the expense Of the carriers The
strife has assumed such Incorporating character
there be truce and the triumphant party viii have
the control Of both routes The boats Of tina Panama
pany of the first GLASS; and cost at average $780,
oo willis those Of the Nicaragua good but cost the
company only about $500 COO each 1t is 70 be hoped
tina. this Of life and Death viii terminate,
which It must DO II carried with ygor, that stop
bs put System of racing in constant jeopardy OF
th0usands Of valuable lives This difficulty only be
Get tied BY the length Of the purses of the respective par
ties, ard VIII that but in the beginning Of
the end Of rvsiship, common ruin and bankruptcy.
1t certain that the Increasing net work of railroads
will create such competition between the respective
competitor roads viii reduce the whole the un profit
able condition in which turnpikes estimated.
Take for i'm lance the effect Of the projsct soon to
be pushed forward contemplating the construction Of
railroad from Hoboken to Syracuse Ths travel this
road Will be interference with the Hudson River Rail
road and essentially cut of large portion Of the
Cectra, and nearly the whole Of the through travel
81 the Erie. 1t win be the shortest. the mos. direct
and, in every way, the most commodious route; but
then, IN its turn, It win not long have any ex.
elusive monopoly. A an instance Of the effect Of
competition in railroads, need go Tar away from
hsDe Previous 10 the construction Of the Third Avenue
RAroad the Iecsipts Of tina Harlem Company from its
city travel averaged $25 per during tho days.
and A5 per Sundays The average Is $i3 per
during week days, and $50 per Sundays. It
is working this way al the country In dividends
the effect hss yet been realized for the managers
have thus far contrved To disguise and cover up by
faiss reports the nroads of railroad rivalry the
earnings. It must, however, out later,
and nothing win sectuaDy arrest the construction
OF rival routes, than full and fair expose the rot
tsnDsss Of the financial aairs Of these apparently
in the fun tide OF successful operation.
To- Cnvnn La~o ho~r
the Official repudisaon Of portion of its capital stock
Parties intsr ated have been patiently waiting return
Of the second sober thought and acknowledgment Of
the Justice Of all the stock claims sgsisst the company;
but ~ the management appear 70 be perfectly caous to
all ssnse of honorable dealing in their official capacity
thoss Who have bean the victims OF population must
we fear wait the regular %. law In the whole
course of our experience in Wall street. we have never
knew case Of fraud the par. Of an Incorporated
company spoh this An examination Of the directors
~ the PhoniI Coal Company In court, would bring out
fac regarding s rise progress, and operations, that
you'd Atenish even this constantly.
The Potomac Copper Company win, after Gil, prove
trump. It's valuable possessions East Tennessee and
in North Carolina, cannot DO surpassed On their pro-
pety in both States mining operations rapidly pro-
crossing 1t has been determined by the Potomac Com
pasy 70 form two branch companies out Of the
purchases In Tennessee, which will give TO the holders Of
Potomac stock ct the time Of distribution, hundred
and city Of the new for every hundred shares
pf ths Oh This ID equal to dividend Of hundred
md City per cent This arrangement explains the cause
o improvement price and rapid increase in operations
weh have reosnty taken place In the Potomac stock
Every share Of stock In the nsv companies estimated
u equal vsus not Of greater value than those Of the
present company
The rhsnix Gold Company Of North Carolina have
jus rsssay.ds ve favorable report from their mining
superintendent d operations during the month Of
August. Several new shafts hsve been commenced,
poms Of the old ones drained and cleaned out,
Eve or thrcs new veins discovered, and the mine
ahroughsut PLACED In good order for economical work
ing. Copper ore Of great richness has been de
eoversA and II IL the opinion Of this superintendent that
80 Ph@nix WI take high rank among tho copper mines