The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-12-06
r FINANCIAL AND CONNER CiAL.
HONEY MARKET.
MONDAY, Dec. Sep. N.


tons, buyers option large, and the market in
that way sustained Erie Railroad advanced per cent
Reading Railroad, =; Nicaragua, 70. Ede Bonds, 1871
fell of % per cent; New York Central Bonds ~ Cum
berand Coal, NJ Crystal Palace, IL Bank stocks were
offered to day but the sales only to moderate
extent. The mystery which hangs about the informal
Affairs Of these institutions deters many purch asug
and, no dotbt has induced many to sell. One would
think from the bold in which every report state
ment made relative to losses incurred by loose careless
management had lately been ccntadicted that bad debt
Of any kind or in any shape thing unknown among
them So long they pay dividends matter whether
ned not the stockholders will doubtless be satisfied
and not trouble themselves about the frauds and denquen
practsed BY the of spectators and swim
Oilers 10 this community upon the banking Institutions
OF Wall street We want shrewd, practical sound, sens
BILE at the head Of these banks then they will b.
really useful institutions instead Of to the sg
mate financial and commercial classes Of the country
large We want men who cannot be swayed by any set Of
spectators who may from time to time beset them and
draw them into every wild scheme presented
BY the Withdrawal of accommodations from mercantile
men who are best entitled to credit It is we'll in
Wall street that, at present organized and managed
the banks are nothing less than many stock
jobbng establishments the capitals Of which almost
entirely devoted to the expansion and Depression from
time to time, OF the market value OF fancy stocks.
The receipts of the Erie Railroad Company In Noven
bsr 1852 amounted to s5oa So against $S4s SO
In the Same month last year, showing increase Of
$544Ss 81 We understand the estmats for November,
1852 100000 The actual receipts have sxcseded
the estimate more than twenty FIVE per cent
Tie Delaware and Hudson Canal Company has dsclared
semi annual dividend of four per cent. The Citizens
Fire Insurance Company ten per cent? the Portland SAco
and Portsmouth Railroad three per cent the Merrmac
Manufacturing Company, Eve and the Atlantic Company
four per sent,
1t having been reported that the proposed railroad
route surveyed Hoboken through the interior OF this
State Syracuse and Canandagua had been abandoned
as mpracticabe authorized to gay that such Is
not the fact 1t has been demonstrated by competent
surveying CORPS that route exists through the counties
of Bergen N j.; Orange, Ulster, Sullivan Delaware,
Otsego Chenango, Cortandt Onondaga Cayuga, Seneca
and Ontario N " which, in distance, gradients
ture and cost OF construction will compete favorably
with any route now known.
The foreign news looked for with the greatest ankle
ty. The significant statements communicated u the
postscript OF the Baripgs' Letter. that British consos had
fallen half per cent the rumor that Lord Aberdeen
had given place to minister Of more warke views and
with the premc nory symptom that the whole Of Europe
Is eventually to be drawn into the controversy pregnant
with such important results arising out Of the raging
Russia and Turkey To this country the prospect
portends matter Of serious moment in financial view
and We do not how escape the consequences
which must attend any additional demand for the pre-
cous metals the rate Of exchange already ranging 1t
that point when shipping of specie the most profitable
source Of remittance England engages in the contest
the Bank Of England will be drained pidly and with
fall In the public credit here, bankers will be forced to
send back stocks with positive orders to return the
proceeds in gold and silver. There will be stopping
place this of drain from shores and should
FIVE per cent Of the stocks held abroad be returned for
SALE the punt being estimated at $780, the
entire specie reported in banks would not supply the
demand.
That general will grow out Of the difficulties
existing in the East and moving through Persia to the
possessions Of Great Britain in India, who win
anime the subject with dspssslonate Judgment quss
ton that the policy pursued by the Russia
been most adroty carried on he has gained time and
that the Baltic and Black Seas closed against the
fleets Of France and Great Britain he Is free to employ
his whole force against Turkey which, interfered in
will insurs the active cooperation Of Austria with the
Russian power The result Of such combination win Of
course, be general military movement, which only
be sustained by amount Of gold and silver be
fore employed in military operations.
The amount Of treasury notes outstanding the 1st
December was STA 1851 e4 Of which $loasl1 "a Of
issue prior to July 20 1876.
The receipts 1t the on % Of the Assistant Treasurer Of
this port to-day, amounted to $3.50 III paid
93-leaving . balance Of SAT-, 800 IL.
Judge Hudson In charging the Grand Jury Of the Green
brier Superior Court Virginia. said that 1t Of
for them 70 ndict any for the offence Of passing small
bnls-a less guilty, himself not excepted
Tho Fort Wayne Laoon and Platte Valley Air Line Rail
road, running from Fort Wayne to Council Bluffs
the mouth Of the Platte river distance Of nearly six
hundred miles learn from Western paper has been
~~kn~ Nna~, n..~t
Co., Of Cincinnati who agree to construct and equip the
entire line. The terms onethrd cash aud two thirds
in tie bonds and stock Of the company Aessrs Bailey,
Broad Co., Of Pennsylvania, and Mesns Buckingham
Love- Of Ohio also bidders; but Messrs. Burt Co.'s
being the lowest the contract awarded to them The
work to be commenced In ninety days from the date Of
the contract and TO be finished from Fort Wayne to
ing the wark to Rensselaer, In twenty six months and
from LAcon to the Illinois Central road, distance Of
about twenty miles, In nine months. From New Boston
forty miles on each end Of the Iowa Division in twenty
four months and the whole line finished within ave years
The Governor of South Carolina In his the
Legislature Of that State gives the annexed exhibit Of
the public ananoes on the LIST of October the close Of the
! last fiscal year -
FINANCES OF SOUTH CARoIINA-PuRrIc DEBT AND Assets.
| per cent Fire loan Bonds, payable in Lon
FER cent fGs Loan stock, payable in go - =
per per- cent Of sas, GS.l.nos past due not ''' .
bearing nterest) Observation-Disclosures. 6,418 \
per cent 1888, balance. .............. 452l4 8.
| per cent at nominal value, $117,43S 49,
but ct market price would amount to-. 7a,sss 10
The treasury ha: paid ircm the sinking fund since LIST
of October so Of the six per cents Of 1885, reducing
the balance So The bank also holds Of the i've
per cent stock Of 1888 the of S6679 H. and also
$44 SO of the three per cent?, which purchased
with the sum Of e6s IT, The amount Of indebtedness
diminished by these several payne nts and purchases.
The assets Of the State consist Of the bank and various
railroad stocks The assets under the charge Of the bank
may be summArily set down % follows
Total funds In the bank exhibited by
the annual statement LIST October. a. 919 932 40
Deduct bank liabilities is ues, deposits &c. ~
Balance, being assets, the property Of the
State. 90 s33 342 81
South Carolina railroad and bank stock GAL 900 90
Greenvils Railroad Company $4,000 90
Wilmington and Manchester Railroad Com