The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-02-15
FINANCIAL AND COMMERCIAL.
M Ely MARKET,

MoNDAf, req. III L. M.
The stock market opened this morning dull and
depressed At the first board the most active stock
on the list was Nicaragua Transit, at slight i'm
provement in prices 1t has been rumored lately that
movement was about being made which would add
largely to the market value Of the stock and extern
sive purchases have undoubtedly been made in anti
cipation Of a rise. 1t is yet in the prospective.
There appears to be good deal Of mystery about it.
The earnings of the company are said to be large,
equal to upwards of one hundred thousand dollars
per month net. If this is true, there is certainly a
wide margin for an advance. Canton Company, at
the opening this morning. exhibited decline of two
per cent but it partially recovered before the close
OF the coal stocks, Parker Vein and New Creek
were better, while Phoenix and Cumberland depre-
ciated considerably All the leading railroad stocks
were down at the first board. Potomac Copper re-
ceded fraction and closed heavy. The recent &C.
tive purchasers of this stock have supplied them
selves. very large amount has changed hands, or
rather passed from first into second hands Flor
ence and Keyport, and some of the new Western
railroad stocks, show an improvement.
Compared with prices current at the close Of the
market on Saturday, the variations to-day have been
as follows Nicaragua Transit advanced per cent;
Parker Vein, S; Northern Indiana, /; Florence and
Keyport, !; Madison and Indianapolis Railroad, Ii.
Canton Company declined per cent; Cumberland
Coal i; Phoenix, IL; Potomac Copper, 1; Harlem
Railroad, 4; Hudson River Railroad /; Reading
Railroad, !; New jersey Zinc Company, /. At the
second board lower prices ruled with pretty active
Sales Cumberland Coal fell off / per cent; New
Creek, !; Nicaragua Transit &; Potomac Copper, /;
Erie Railroad, &; Hudson River Railroad, /; Harlem
Railroad, J.. Phoenix went up per cent; Rochester
and Syracuse Railroad, 4; Reading Railroad, /;
Northern Indiana Railroad, 1.
The anthracite coal trade over the Reading Rail
road is increasing gradually. For the week ending
on Thursday last 1888 tons were brought down,
making an aggregate tonnage, from the commence
ment ofthe fiscal year. of 1893 1873 tons, being small
increase on the tonnage to the time last year.
The receipts at the Office Of the Assistant Urea
for this port to-day amounted to sl33 lit 81.
payments $7s,532 74-balance, 4,3S7 ,424 10.
The importations into this port to-day, (Feb. l4,)
have been as follows
wood4CO coo lbs. logwood Dry goods ATS packages
per Niagara 5s per II. Body Dyes-l1O casks mad.
der; DrugsH4i bags gum copal; sscases 10 bbls gum
30 bbls flour sulphur; casks arges FruitSS5 bbls,
81 200 half boxes leo do prunes 456
$50 tons Hides-4,4l6 hides 20 bales goat skins
Horns-6,8e0 Honey-2e terces. India rubber-l14 bds
hSd os CASKS 500 G,osss
80 cases. Peanuts-3ls s bushels Rags-Ss2 bales
stee7sl cases, iis bundles soap-2oo boxes; Spirits
so casks l63 half do, l72 Quarters ia bbls brandy
Salt 500 SACK" Sardines-ss cases. Saltpetre-705
bags sugsg Zoo % hhds % boxes TaPioc.-los bss
mahogany Woo-477 bales. Wine-9S3 cases l79 bbls.
19l hhds $50 half casks "a quarter casks zoo baskets
The annexed communication contains some very
important points, Perhaps the railroad company
alluded to give satisfactory answers to all these
questions. We give the letter without further COM
ment =
NEW YORK, Feb H. 1853.
Mr. EDHoR-That stupendeus speculation, the Illinois
Central Railroad, stands out in bold relief the
gigantic speculation of modern times but creditor
Of Illinois think for one, with less than justice to the
holders Of the old improvement bonds
Look at it Mr. Editor The longest railroad in Great
lares with the Illinois Central thus :
n,,no,. c.,,,,, Ms s4s Cost gzgg,ss.r'.
London and Northwestern. $50 Els, 574, 6o7
These simple figures indicate trick of lcgerdenian
somewhere Now, sir has State like Illinois, which
cannot does not pay its debts the right to bestow
upon company-some ten or twelve gen tlemen-a mag
ncent work. twenty per cent longer than one which in
England cost $3.50 600 coo to its proPetors and which
holders given lien upon the canal and those VIII.
completed it required to return the tho
after it shall have discharged the obligations upon IT,
The proceeds of the improvement bonds spent upon
this identical railroad which has been granted away in
fee forever without requiring the grantees to pay any
1t is no doubt true that when the State under took
to build the road it expected to pay 500 900 for
it, and that the citizens will have the OF 1t for
the 90 OOo 600 spent but which, by the way, they do
not repay. The federal government gave the l,nls
whichtwill suffice to build the onre and
pany will become possessed of it free of cost Ought
they not 10 have been required to pay something to the
vast grant asked for by whitney in relation 10 The Pacific
railroad to be built by government lands too
for an individual but here about ten gentlemen only
of la nd IN k,i1A If
length projected by Whitney, and to remain their
property free of cost Yet the public take it mat
ter Of while the State that made the grant don't
pay it's own debts
Please enlghten upon this matter through your very
influential Journal B0NDH0LDER.
The Board of Brokers Of st. Louis, in consequence
of the large amount of paper now in circulation, is
sued by individual bankers, railroad specuators ON
nibus companies manufacturing companies plank
road companies, and men who associate themselves
together for the purpose Of palming upon the public
paper having no security, have passed the annexed
resolutions
We the bankers Of st Louis, deem 1t duty to
ourselves and to the public to discriminate between the
different issues now in circulation among us:
Therefore Resolved unanimously, Thas viii not
and after Monday the l4th inst receive on deposit or
buy currency any paper in circulation money that
Is not redeemabo in st Louis in gold silver unless is
sued by regularly chartered banks institutions having
the right according - their charters, to issue such
Resolved, That n committee of three be appointed to
make list Of such issues will be received accord
ng to the above resolu tions.
The committee reported in favor Of throwing out
all illegal currency issued in Illinois by Burch h
Co., Chicago; the checks Of Osborne on the Rock
Island Bank; George Smiths Bank Of America,
Washington; the Illinois River Bank, and the va
rious pankroad shinplasters This will further
purify the currency, and keep specie basis. =
The Governor Of Michigan has appointed the fol-
lowing gentlemen commissioners 70 contract for and
supervise the construction Of the Saut Ste. Marie
CaDal-the bill for which has finally passed tho Le-
gislature and become a law-Henry Ledyard and
Shubal Conant of Detroit; Alfred Williams, Of Pom
tiac; John 8. Barry, Of Constantine; and Chauncey
Joslin, of Ypsilanti
The Board of Directors Of the Cincinnati, Hamilton
and Dayton Railway Company, have declared div