The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-11-24
FINANCIAL AND CONNER CIAL.


HONEY MARE EFT.
WEDNESDAY Nov 23-8P.M
There was quite reaction in the stock market to-day
Holders hopes of srresting the decline BY not
pressing but the tendency downward from the
opening and prices closed at decline varying from
quarter to one and half per cent The tran sections
were not large and the demand exceedingly limited At
the arst board Nicaragua declined a per cent; Cumber
land y; New York Central Railroad, Il; Reading Rail-
rsad l. Erie Railroad, u Harlem, Ia; Long Island, y;
Norwish and Worcester l. Hudson Railroad, l. New HA
ven Railroad, /; Michigan Central Railroad, IA Panama
Railroad, u; New Yorh Central Bonds, ls Erie Bonds,
1871, u. Pennsylvania Coal advanced "a Per cent 1t
appears by this that the depreciation was general and
We SOC no reason why IT should not continue Toe banks
have supplied bull specsa pretty freely with funds
on the hypothesati1 N Of the worthless stuff pur-
chased, and the regular street buyers have filed
themselves up with all the leading fanciss
the market, and there ia outlet. Even
ths oniosrss of half dozen banks could Mans,
located Wall street. between Broad and
the west and Hanover street the east full
they hold of fancy stocks The individuals alude
to operators in ,cks sometimes for rise
nd sometimes for fall SAL this well known in the
street. We stating nothing new; and yet any OF
these would Indignantly rpudate anything of the
kind publicly accused of it 1t is from such that
the stock market from time to time is inflated de-
prssssd The banks of service to fancy stock
Spectators than any other class To the commercial
CLASSES they of very little use, and very uncertain 1t
that. The time has gone by when the banks alarm
business BY their contrections and expansions The
poor deluded outside stock spectators the only class
who severely suffer by the sudden changes in the
msns of the banks and the fluctuations recently realized
in the market value of the fances show that in this line
of busins these institutions powerful in
times past they in mercantile matters
Of have contrActed their reCu
line Of discounts within the past three months upwards
Of fifteen millions of dollars, all Of which has been draw
0h the mercantile classes notwithstanding which very
few failures have occurred. This shows that the
chants have other resources and fortunate they
have The importance Of banking institutions to
business daily becoming less and the time is not
far tant when they will be nothing less than
90 many stock jobbing That they are 50 now
to great extent is well known in financial circles and
no harm will be done to the commercial community by
exclusively dsvotng their capitals to the movement Of
fancy stocks The loans made to brokers' call by n.y.
pothscasn of the do not appear in the bank
ports Of discounts. They called cash ITEMS and
90 reported in the official returns.
It IL estimated Wall street that the losses fancy
steck within the past three months have not been less
than thros millions of dollars and the question has been
frequently led where the losses have fallen. We par
tally answered that question Monday morning last
We showed at that time who shcudersd portion o. the
burden and is impression that further develops
snts will be made, equally startling There have
been very few failures in Wall street among bull stock spe
cuto audit is well known tina. operators in fancy stocks
for rise generally the akest class in the street
Had there been suspensions to extent should have
known that differences had been pal and losses
quenty avoided but know that all contracts have been
fulfilled AL losses promptly paid and somebody have
been most seriously drained, Now the question is where
49,
tonf Wall street could be much enlightened BY certain
individuals well in tbs bank parors of that
n ediats vicinity.
We understand that Mr. Vanderbilt and the Nicaragua
Company have at last agreed upon ex-Judges Beardey
and Kirkland referees in their controversy. No bet
tor could have selected The former from his
yecenf studies is peculiarly fitted to look into and de-
eide upon the powers of corporations therein
think Mr. Vanderbilt viii be tripped up, and not re-
penny because his action against the Near
Agua Company, which Il not Incorporation by
The laws of the State His action should have
b. sgainst the individuals acting officers of the
psny against the stockholders Who trade under the
name Of the company. What particular points are en-
braced In the above reference not informed but
understasd does not all the claims of Van
dsrblt.
The receipts at the Office Of the Assistant Treasurer
Of the United States 1t this port to-day Sl2s l3l a.
oo-o1AhnCS,
The Illinois Central Railroad Company have Just issued
lengthy report Of the operations the road the pro-
grsss Of the works. and the condition Of is finances
the LIST Of November 1883. financial exhibit Of the
most extraordinary character
ILLINOIS CENTRAL RAILROAD.
Receipts and Expenditure 10 Noo /, 1858.
Receipts,
Capital stock, $50 per shar. on
~ 900 shares. ............. 5000 900 90
Capital stock, $40 per share on
10000 shares. ............... 100 coo 90
Capital stock IS per share on
100 $40 shares. .............. 500 $50 90
- sso255o 90
Construction b. nds to contract
:, ors and Others, at par. $500. 7so,5Oe 90
Construction bonds to subscrib-
ers to 81, DOC, 900 loan -. asa 200 90
construction bones = nscrh
,. Sas 70 ass'co % loan 80. $4,000 CO
$780, bonds to parties on ..
..al contract. ............. o0o,ooo W
Instalments OF 81 000, 600 loan,
sued ............ 2ls, 900 So
Instamspt Is or SO 900, 900 loan,
sued ...................... 5ss sos 81
instruments %, 900, oco Lon.
don loan 3,5l7, 413 7s
49, I, 1893 10 60 |