The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-12-25
FINANCIAL AND CONNER lAL.


MONEY! MARKET.
SUNDAY, Dec. 4-6 Pm.
During sne plst week nothing has oecurred Of
particular importance In the financial world. The
stock marker mas been comparatively quiet and free
from violent fluctuations. Money matters have not
materially improved, and the banks do no. appear
disposed 70 let up TIE pressure in the slightest &C.
gree. The returns for this week viii pe made on
Tuesday. The line OF discount viii not show any
variation Of consequence. Ii is expected that the
amount Of specie on hsnd will be larger than pre-
yiously reported. This will afford relief to the
money market, or tend in any way TO tee restoration
Of confidence. Il is the impression of many thu,
after the holidays there VIII be q revival Of trade
and immed ate preparations for the commencement
OF the springs business. To moderate extent
such viii he the case, but no. sufficient to create
much activity. The financial difficulties m Ter
which the entire country is now laboring are too
deep rooted to be eradicatsd It once. 1t requires
time and economy TO make up 70: past extrava-
gance, and il would be the heighth Of folly to sup
pose that the first favorable indication was qua
ranty of returning esse and prosperity. The re-
covery must be gradual to be sound and
healthy; and any sudden expansion on the part
Of the banks, or IN credit in any way, would produce
ton 70 very serious extent. Our only hope Is in
q steady adherence 70 the present policy. ANY
lewiston from the present policy of our banking
Institutions wcald he attended with fatal conss-
quences. There IS, however, very little danger OF
any change Seirpreservation 10 the strongest
iaducement for them to continue the proper course
and there is doubt but that their very existence
depends upon general liquidation. Those who
watch the course Of our banking institutions
can Judge pretty CORE city OF the course Of trade
and prices There lie no better barometer and il Ia
tree TO all. There can be NO mistake about the
effect Of an expansion or contraction. We do not
mean those made from week to week, but those
made for heightened period, one way the other.
We have no other guide but the movements Of our
banks, and the causes producing these movements
and those who are governed by them viii always be
prepared for any emergency. There il time to
put ont SAIL and time to take in sail, and those
who watch closely the elements do both in season.
It is difficult to take in salt when all is apparently
fair and favorable but it is bsst to make everything
snug while it can bs done without loss or danger.
Keep an eye on the banks, and follow their exam
ple-expand and contract as they do. II done in
season It win be safe operation.
Saturday was hard day among the merchants.
1Hc p2ymont OL tuI60 Gays WeI0 C0WpI0o66Q lus0
one, Monday being Christmas.
There were no shipments Of specie from this port
last week, and the amount in the sub treasury at
the close of business yesterday was two millions Of
dollars less than 1t the close Of the week previous.
The Nicaragua Company win not pay any dividend
to the stockholders on the lst of January, 1855,
but We are informed that the company has made
this year, clear Of expenses, about million Of
dollars, which has been expended in paying of in
debtness of the company in paying . dividend to
the stockholders in July, in settling claims Of Mr.
Vanderbilt, in adding to the property Of the com
pany two ocean steamers, several lake and river
steamers, in furnishing and equipping it, road from
Virgin Bay to the Pacific, and in putting all its
steamers in complete order. BY referring to the
companys report OF July lat it will be seen that
the net receipts Of it, business for the first six
months Of this year were $500 900; and the net
receipts of the first Six months Of the coming year
viii without doubt largely exceed those for the
responding period the present year the stockho.d
era may hops for q large dividend in July next
The ocesn steamers, the lake and river boats, the
road from Virgin Bay to the Pacific Ocean, the
depots landings, ways, stations, shops, machinery,
coal on hand and afoat, Low belonging to the com
pany, cost 81 800 900, whichis equal to $35 per
share for tee capital stock Of the company, exclu
sive of the rights and franchises granted by the
Nicaragua government to the company, which Is
not thought to be over valued at 900 900. Holders
of the stock have full confidence in the management
under the presidency Of Charles Morgan, ESQ.,, and
win quietly wait for dividend until such time o.
he may deem it prudent to resume their payment.
Under the resent administration nothing is lost by
DELAY or pOstpopement.
For the week ending Saturday, December l6, the
shipments from the Cumberland coal region were
small. The amount transported during that period
fiom che whole coal region is sI5915 tons, and
since the first Of January last, 640,364.15 tons Of
which 490, l3llS tons were transported over the
Baltimore and Ohio Railroad, and 150,233.02 tons
descended the Chesapeake and Ohio canal.
1t is stated that notice has been given by the pro
per parties to the holders Of tina. class Of debts Of
the Chesapeake and Ohio Canal Company, which
stand deferred to the mortgagers heretofore given
to the State of Maryland, known scrip, bonds L.
sued for scrip, bonds and acceptances to creditors
balances due contractors, &C., that the President
snd Directors have authorized the consolidation aud
conversion Of said claims, where the holders may
desire it, into registered debt and interest Of said
company; for which certificates will be issued on
presentation and delivery OF the evidences Of such
debts at the Office Of the company On and after the
first day Of January next The interest accrued
on said claims viii be computed to the LIST Of Janua-
ry, 1855, and embraced in the certificate issued,
from which date the principal sum only OF said Ger.
tifcates will bear interest.
The Mount Savage Iron Company have suspended
operations at Mount Savage, in the rolling mills
and furnaces.
The committee of the Council of Boston on the
reduction of the debt OF that city, reports that the
consolidated debt or the city on she Goth day Of