The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-12-15

At the second board there was a better feeling in
the market, and an advance was realized in nearly
al the leading fancies. Erie Railroad went up
per cent; New York Central Railroad, Il Reading
Railroad, 4; Canton Company, 1. New York Gen.
trail Bonds fell off per cent, and Nicaragua Transit
CLOSED firm ct our quotations At the close the ten
dency was upward.
Tie receipts at the office of the Assistant Treasu
rer Of this port to day, amounted to $ll6,04l; pay
ments, 1922 ,402 27-balance, 1852 ,257 go. Paid
Assay Office, 1921, 1903 81.
The Steams nip Prometheus, at New Orleans from
San Juan, Nicaragua brings California dates to the
oath Of November, one week later than those pre-
vioutly received. The steamship Northern Light LET
San Juan .he Sth inst. for New York, With abou.
million Of dollars in gold and gold dust. She
will be due here to morrow.
The Hudson River Railroad Company have given
Official notice that $50 900 Of its recent issue Of mort
gage bonds have been disposed Of, and that no fur
ther sales of them will be made 1t present.
A meeting Of the directors Of the Central Bank
held yesterday and the following resolution was
adopted
Resolved, Tint in consequence Of the action Of the
Clearing House Committee, in suspending the bank from
further exchanges through that institution, the bank
will be closed until Monday next the 18th inst at which
sme the public will be informed of the final decision
either to continue business or go into liquidation
Copper stocks were frmer in Boston yesterday.
'Toltec advanced to 81; Copper Falls WAS in demand
at Is bid 2e Asked Isle Roye l0a bid for 10 shares
II asked for any part Of so shares; Northwestern,
Is bid 20 Asked Minnesota, 160 asked; Pittsburg,
40 asked.
The Restoa and Providence Railroad Company
win pass its next dividend. The stockholders think
they ought to have it in bonds or stock, If it has
been earned. The probability il that 1t has not
been earned, and they will have to 20 without it.
Railroads have urned out bad this year.
We have hitherto regarded the attempts Of rail
road corporations by means Of conventions and
combinations to advance the rate Of freights and
fnes with most unqualified dsapprobation but
when in their discussions at these meetings the
question is how TO reduce the cost Of running their
,roads-how to econonize in the use of fuel-then
there are advantages to be achieved which we are dis
posed to encourage. The enormous cost Of wood rs
fuel for locomotives was one Of the subjects be-
fore the convention on Tuesday night, and We
notice the letter Of Joel White, ESQ.,, President Of
the Norwich and Worcester Railroad, giving very
clearly the result Of an experiment made under
his own direction with cumberland coal, and show
ing large saving over wood and wood at four dol
lars per cord When it il remembered that the cost
of wood in the sheds on our roads is eight dollars
per cord the saving wouli be double what is given
in NJ. Whites statement But to show the lament
able indispcstion Of railroad managers aud employ
ers 10 adopt any plan to which they are unaccus
toned, we will state that the Baltimore and Ohio
Railroad and the Baltimore and Sasquehanua have
used the Cumberland coal for years, and We hav
the authority Of Mr.. Latrobe. the eminent chief
engineer Of the former work, for saying that one
ton Of Cumberland coal ia equal to two and . half
cords Of best pine wood. With these facts staring
us in the face, it h wonder New England railroads
have - long resisted its Introduction. The public
u interested in the economical sdministra alton OF
railroads, for the cheaper they are managed the
better che public is served.
The Cleveland, PaiDewiue and Ashfsbula Rail-
road Company have declared semi. annual dividend
of five per cent; the Boston and Maine Railroad
Company four per cent.
Tho earnings Of the Baltimore and Ohio Railroad
Company for the month Of November, 1854, were -
snnexed;-