The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-04-06
FINANCIAL AND COMMERCIAL.
II O N e T NJ A K EFT.


Wehave no change Of consequence to report in
the stock market. At the first board to-day the
market was heavy, and most of the fancies fell off
fraction Hudson River Railroad declined per cent;
Phoenix Coal Co., Ii; Hanover Bank, l. Nicaragua
Transit advanced per cent; Morris Canal, /; Michi
gan Central Railroad, d Cumberland Coal, l. At the
second board Morris Canal advanced per cent;
Harlem, /; Pennsylvania Coal, l; Phoenix, 1. Mica
ragua Transit declined ! per cent; Great Northern
Lead, l. Money continues in active demand at full
rates. There was an active demand for foreign ex
change to-day, and rates for sterling bills have ad
vanced. We now quote bills on London at % pc
cent premium This is the outside rate. Drawers
feel confident that higher prices will soon rule, and
exhibit no desire SO sell. Purchases have recently
been made to some extent by dealers, in anticipation
Of more active demand, and an advance in rates.
Importers in the market in great force for loans
toenable them to make remittances, and any let up
or rather any increase in the supply Of moneywould
put foreign exchange at once up to specie shipping
points.
The receipts at the Office of the Assistant Treas
urer Of this port to-day amounted to 500 sos 59 pay
ments, $49, 254 61-balance, 81, 400 9S7 Os.
Two hundred tons Of copper ore, from the mines
Of the North Carolina Copper Company, were sold
at auction today, by Simeon Draper. One hundred
tons, estimated at 80 per cent richness brought Sc
so per cwt; and one hundred tons, estimated at 20
per cent richness brought SO Is per cwt. The two
lots were purchased by the Revere Copper Company,
of Boston, the purchasers Of the first lot sold some
weeks since The proceeds Of the above sale amounted
to 5000 Immediately after the sale Of copper
Mr. Draper sold 1,O27 shares of the stock Of the
North Carolina Copper Company, at So s7A 80.
This stock did not belong to the company or any
one directly connected with the management. There
was large attendance, and the sale passed Off with
much spirit.
The steamship Arctic brings four days later news
from all parts Of Europe. The financial and COM
mercal accounts do not differ materially from those
previously received.
is much to beregetted that the recent letter from
the President of the Erie Railroad Company was not
accompanied with the usual official statistics, that the
parties interested In the companys stocks and bonds
might have been in possession of the best and most
liable nformation-a least sufficient to enable them
TO Judge for themselves. They want more than the
mere ipsc dira of the individual implicated in the
charge Of mal-administration. Such cannot answer
the occasion. What he has presented is nothing
than rehash Of the several reports heretofore
issued, presenting later intelligence than before
published and Of course the natural effect has been
to create distrst and to give rise to the apprehen
sion that the true curtain Of Encouragement has not
been withdrawn from the real catastrophe of the dra
ma. Most certain is it, that the game played by the
directory has not been vaudeville nor a meodrama;
but, on the contrary we should Judge from the effect
Oh the auditory, exhibited in the reduced value Of
their stock, that there strong antcipatons that
there will be- in the end, more Of a tragedy than
comic performance. The president would have
shown better taste if he had presented an unmis-
takeable programme ; instead Of which he has ush-
cred forth his bill of fare with impotent attempt
to throw, through cloud of abuse, discredit upon
those who have brought the charges made against
him. The discrepancies were made so glaring that
the namby-pamby dignity of the directors could re-
sist the lash no longer They have been, therefore,
compelled to to the bar Of public opiniou and
like other trustees, abide the examination and the
judgment, under the admission of the gst of the
charges.
The charge has been cfectualIy maintained, and
shows that the president and his associates have
exhibited throughout the grossest ignorance with
the most reckless expenditure of money; and having
so DONE they have been compelled, for the purpose
of sustaining their position, to tax the creduty of
the community to its extreme gulliblity The letter
which has been published, presents nothing but as.
sumption information asked for IL not given;
hut for tho nurpose of proyin0 that the directors