The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-11-09
FINANCIAL AND COMMERCIAL.


ONEY M A IL X f. It.
WEDNESDAY, Nov SIS p. NJ
There was more activity in the stock market to-day
man we have noticed for time prices continue
oppressed. At the first board to-day, Illinois Central
bosas fell OF 4 per cent; Virginia 6s. L. Harlem 4
Nicaragua Transit x Cleveland and Toledo Railroad x
Chicago and Rock Island Railroad n Reading Railroad
n. We do not see any indications Of decided move
nent In the stock market, way or the other. The
daily transactions afford criterion Of value in any Of
The stocks sold, and there appears pretty good
balance of power among operators for rise and fall
The absence OF later adces from Europe and the apathy
NJ home among all classes Of SPECTATORS have depress
Ing influence. The power of holders to carry stocks
prevents their further depreciation, and the in
ability Of outsiders TO buy prevents any imitation.
The great misfortune evil OF severe monetary de-
pgesson is long continuance of the elects even AZ
the producing shall have passed away 1t
N at such period that the greedy and avarcious avail
themselves Of opportunities TO enhance the rate Of in
tees and to lower the value of the securities they de-
sire to buy and too many Of banking institutions
made the instruments of stock jobbing and note
shaving Presidents and directors in times OF general
calamity elevate and depress values for their inte
tests and for the benefit of their purses There is
No class of men who skfully avail themselves Of
zeal scarcity Of money to make il scarcer who join in
hue and cry after hard times with alacrty than
ysur bank men, For many years chance like the pre-
sent, when capital could reap golden harvest, has
not occurred
At early day predicted what has taken place
daily in columns repeated the note Of alarm,
and those who read inenigenty and heeded
ing took in sail Our reasons for the pur-
sued founded on'the evidences every where
that the country going too fast-enterprises
curing millions rapidly projected at any period
Of our golden millennium At the North the South, and in
the West ambitious States and villages stretching
ont their iron arms, apparently without object aim.
Cur roads entering the very doors of city,
under the very eyes of their owners shamefuly
nsmanaged and the fact that they constantly in
Che market for large sums either to complete their
works to pay dividends to pay debts period too
Of enormous traffic indicated such mismana cement
something If in New York State the great lines
of thoroughfare, with uninterrupted travel such
b. in other State country in such despe
rate condition, we knew it time to pause in the
creation of these expensive highways.
The railroad system is one Of incalculable be neft to
tie whole Countrywide increased facilities afforded an
energetic restless peoplethe augmentation of agricu
tural wealth cannot be estimated great number
Of these works to the suffering stockholders
evidences Of their enterprise and contributions to the
public good The losses are tremendously exaggerated,
and the burthen does not fall justly. The andhoders
suffer but litte-the moneyed seldom subscribes,
but buys of the suffering needy and enerprisng pro-
5ectsrs at low prices The impetus has been stopped
The check given may be considered of those whole
lessons not to be forgotten Projected lines
Aust wait for convenient season; and we hope
wiser and better administration Of public works will
be adopted enforcing economy in their management and
change in the managers The State in granting por
ton of its sovereignty to corporations does for the
public veal and not to confer powers by which the
Asunity is to be swndled for purposes by which
Sraspng and selfish make fortunes at the ex-
pense of confidng stockholders.
At the second board the stock market very blue
Cumberland coal fell of Il per cent Virginia 6's i;
Hudson River Railroad u New York Central Railroad z;
Nicaragua Transit x Reading Railroad x Erie Railroad
4. This fall comes very suddenly upon holders. At
The first board there indications of such de-
probation. There small sales time buyers
option, at the decline.
Mr.. A. H. Nicolay's regular semi-weeky auction sale
Of stocks and bonds will take place morrow Thursday
a hafpast twelve O'Clock at the Merchants Exchange
The Philadelphia Bank has declared q semi annu
dividend Of five per cent; the Bank of the Northern
Liberties six per cent The Farmers and Mechanical
Bank, at Hartford has declared q annual dividend
of Ave per cent.
The eight steam ships belonging to the Parker Vein
Steam Ship Company were sold at auction to-day for the
sum Of $1o3, 500, follows Steamer Locust Point
s14, 900; Georges Creek $4,000; Thomas Livann,
el3, 500; Piedmont, $4,000; Western Port $13 600;
Moun Savage, $4,000; Parker Vein, So, 5Oo Jackson
S17,5o0.
Mr. John A. Stevens Of the Bank of Commerce, OF
trustees of the Buffalo and New York City Railroad
D,mpany mortgage bonds, gives the following notice.
In the suit the foreclosure Of the first mortgage
bonds Of the Buffalo and New York CITY Ra,lr4aa U0m
The interest due in May last and taxable costs which
refused to accept The court hereupon on their app
cation after argument ordered that upon bringing the
sum rendered into court and paying such taxable costs
or paying the to my attorney, the suit should be
etoI ped as to that mortgage
have thereupon received. VII, 500
not chargeable TO the defendants, Of. $3.50
- my statutory commissions. .......... 10 go
DIVIDED among 500 coupons, gives to each coupon
oS3 I5 at which rate ON presenting the coupons, you
viii receive the amounts.
The Citizens Bank of Cincinnati and the Bank of
rcleville Ohio, have repudiaed payment The private
bankers OF Cincinnati undergoing q from de-
postors The excitement was at the latest date very
great and increasing.
The receipts of the Chicago and Rock Island Railroad
for October as follows
From passengers. aS5 "
From freight $4,000 10
From mails and express. Observation-Disclosures. $500 90
Total. .sI7s,22l IS
The receipts Of the Pacific Railroad Company of Ms
souri, for the month Of October, 1854 follows
Freight ,16O 0s
Passengers ACKNOWLEDGEMENTS. 5,2S7 20
--$9 447 rs
October, 1858 =
Freight. 81, $40 So
passenqers ACKNOWLEDGEMENTS, 1904 IS
-$53A 70
Increase. .Sf,l-@ "
The number of passengers carried during the month";
was $3.50.
The tolls received at the Chicago Office of the Illinois
and Michigan Canal for October amount to $7,760 30.
The tolls received during September amounted to
o. GA 22showing increase In the receipts of last
month those of the month previous of ss46 81.
The receipts of the Chicago and Rock Island Road for
October very large showing increase of about
IA, 900 September. The figures are