The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-12-11
FINANCIAL AND COMMERCIAL,
MON ny MARK Il II.

ock MARKET ana prces AT the close yesterday show
vance those current at the close Of the week pre-
GUS The whole tone the market has been improved
the upward tendency of two three Of the leading
..ncies Some of the leading railroad fanciss
ave taken . start upon the basis Of reports which
ave been put forth relative to the negotiation of
squired loans and those who the best posted up
the actual facts of the case have awaited themselves
4 the favorable turn in prices to realize. The bears
lately been pretty heavy buyers. winch has ssien
d the market materially The advance in the market
Falue Of certain securities bring great many Of
hem out, and the quantity ahoat must rapidly increase
speculation does not keep pace with the supply Of
material the advance in prices will be arrested We sec
40 source from which speculation he augmented
Wall street has all the business stocks to themselves,
particularly buyers The daily appearance of large
ots Of public securities the sales Of which are forced
absorb good deal Of money and attract capital which
Otherwise might 90 into Of the sancies This sup
ply Of State stocks likely TO increase rather than d.
Ininish The contraction Of bank circulation at the
West and the necessity Of realizing the securities in
the hands of the Comptroller Auditor, forces them
Wall street where they must be sold at price,
These State stocks purchased principally by agents
f German and Swiss house, who are easier in their a.
parcss than any other class in this city Their easy
condition and available enables them pick
MP all the Virginia and Missouri SKIES Indiana ves
which from ime time appear in the market at prices
lower than have been known for years These purchases
MID in the reduction Of rates for foreign exchanges and
70 far az that Is concerned tend to give temporary
relief
The fluctuations in quotations for stocks show very
weak feversh unsettled state OF things in the market
There evidences OF permanency in any improve
meut. The parties operating for rise fall have
fixed of action Those who take hold for small
profit realize it and at withdraw Those who look
ing at limits below their range, which prevents
their closing any operation unless compelled to
by the expiration Of their line While these large
fish looking for large game to feed upon, the
smaller class manage to catch good many of the
smaller fry and make pretty good feast out OF them.
In these times ii is best to be satisfied with pretty small
gone for looking for that Of large growth, in
ssnger Of losing all Any rise in fancy stocks should at
secured by those specializing that way for the
changes sudden that the opportunity to do
not last but few hours. Unless there is radical
change in the position Of nances unless the real
causes of al the financial and ebarrassments
have been removed; unless actual improvement has
been realized in the currency and in money matters
generally it is folly to look for any permanent advance
fancy any other kind of securities There may be
sudden mutations, but these will be sudden collapses,
and those who steadily adhere to the bear side WILL with
out doubt, bo the safe side. The extent of
zhe present revusion cannot be understood by
those who enter the market purchasers
for any kind Of property. They cannot have
idea Of the breadth and depth Of the depression
and prostration which has every interest," and
they likely to increase rather than reduce the diff
ultes under which the country at large is aborng In
the face Of the failures and extensions which meet
every side it is impossible to find anything satisfac
tory aging. The only true policy to pursue
1or all to ntract their operations rapidly possible
nnd TO look every deviation from such course a.
aager in the extreme. We shall then get to
1ne lower depth where may find substratum solid
enough to sustain until the return of favorable
seasons. Money continues tight in Wall street There
has change for the better The banks dare not
let the FIRST turn in the and the highest rates
paid in the street for the negotiation of short paper
Dozens Of failures have occurred among the merchants
where has been reported, and in hundreds Of in
suspensions have been resorted to to stave OF
5or time longer the day of settlement. 1t is merely
posponement The evil day cannot Be avoided, and it
might just we'll be met at to putt of by max
dos xuinopx sacrifices.
II IL stated that iix out u the nine rusd companies
directly connected with Boston win pass their dividends
borrow money to pay them. Four will pay divi-
dend at all and the other two have little credit left
which will enable them to sell bonds ct sacriHce to
squeese another three per cent to the stockholders
rapidly becoming dead property to their stockholders
and many Of their bondhoders. In four Of the prn
cips northern roads Of Vermont New Hampshire and
York. the capitalists of Boston hold the chief part
~ perfectly dead property which has sunk twenty five
millions Of dollars and now pays nothing at all either
their stocks bonds unless it BE- in the shape of
sbtant salaries and shaves their immediate managers
The railroads of New England have been produc
tive than those in any other section Of the country but
they have had their day, and must now be operated
soey for the benefit of the community ct large to the
Of both bondhoders and The dis
which has destroyed the railroad interest Of New
England, is rapidly spreading westward, and
already has such hold upon those Of this State that it
cannot be eradicatcd They doomed. Gangrene has
taken hold Of vital parts and there is help. 1t
doubt appears strange to many that railroad companies
represented to be earning great deal Of money, and
showing from month to month large increase in
receipts comparedh corresponding periods the previous
year. should mot be making money than when their
gross earnings City Per cent less but they do not
consider that while this increase in income has been
going on the capital and Indebtedness Of each company
have increased much more rapidly, until the expend
tures far exceed the net that every year
adds TO the liabilities until the credit of the
permits the contraction of no more oans aad bankrupt
scy is al last acknowledged
We hear il stated that the Directors OF the Warren
the completion Of twelve miles of their road, from
franklin n j. to the New York State line. The money
las been raised at Franklin, Hamburg and Vernon.
These twelve miles will connect with the Orange and
Sussex road Warwick The Orange and Sussex con-
meets at Chester with the Newburg branch, which
will give an outlet the extensive iron district Of New
Jersey This will be Of great advantage to the New Jer
sey Franknite Company, which is now about putting
dn operation their extensive furnaces at Franklin New
Jersey.
The Washington National Intellgencer Of the 9th,
says
An anonymous inquirer In New York requests us t
say whether there such banks in Washington as
Arlington Bank Washington.
Bank Of America, Washington.
hank Of Anacastia, Anacastia.
Merchants Exchange Bank, Anacssta.
All that We can say 10 that know Of such banks
in this city.
Aggregate outstanding
oebt on the LIST of Octo-
As follows