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


THURSDAY; Doc l4-o 4. u.
The stock market opened heavy this N ,rning,
but towards the close OF the first board better prices
ruled. Nicaragua Transit advanced l per osas;
Erie Railroad. I; Panama B,uds fell of per cent;
delaware and Hudson, IL; New York Central Rail-
road, II; Reading Railroad, l. The translc ions in
Delaware and Hudson show the tightress OF the
msney market. There were sales OF this ssc,k ..
lO3, cash. and At 107, buyers option six MONTHS
difference Of four per cent, besides interest. This
shows confidence and the cost OF credit in thess
timer. New York Central Railroad fell of from
the opening Eric slighty improved: Mica.
rasua Transit Was in more active demand
at higher prices The banks contiaue to Goa
tract, and the money market has mo- thus
far bsen relieved by the rsdu stion in shipments
Of spcoie 70 foreign ports. We feel small ship
ment now more than we did millions . few months
since. The volume of currency has become 50 much
contracted, that moderate withdrawal Of its basis
is very sensibly felt. No active business man has
any idle capital in hand and those capitalists who
are fortunate enough to have surplus arc afraid
to part with IT, and hold on with the belief tAAt
more favorable Investments can be made some time
hence Holders of lots fsvorsbly located for build
ing csunrt raise the means to improve. They
would glaoly avail themselves Of the low prices
,uline for labor and all kinds of building ma
.serisk to put up dwelling houses; bat it is
-attedy Impossible to get hold Of enough money
80 meet the required expenditures II the Cor.
porstion would commence at once the erec-
item Of the new City Hall it would give
employment 10 hundreds Of laborers who are
row living upon the 'savings Of the past two or
three prosperous seasons or upon pr spective earn
ines. Our savings banks are be coming depleted by
the drain upon them from the aboripg classes, and
1t IL estimated that there will be- in this city alone
curing the present winter, about seventy thousand
people out Of employment, many Of whom will be
burden to the charitable fund Of the Corporation.
Something should b done to give as many of these
people employment a. possible, and as the Corpora
tion centenplates constructing new City Hall, the
sooner it Is commenced the better. Private indi-
vidusls cannot carry Improvements as rapidly as
they desire, In consequence Of the scarcity of mo-
ney, and they cannot therefore give any relief to
the general distress among mechanics and laborers
After the adjournment of the board the following
'ssles Of stocks and bonds were made at auction--
IS, oco Green Bay, Wis. and Chicago SIS, LIST mtg.
10000 N. y HARLEM RR is, ist mtg, int add 50
1000 sandsk. Mans. 6Newark RR do do So
1000 Mich South n RR. rs 1868, interest added 1915
1000 n. Y. and N. Haven RR 1866 do. 6es
1000 shares illinois Central RR $40 paid) . 81 %
100 Brook City RR., 25 per ct. paid 10 a 7Ois
100 do Third Avenue RR. :....::... 23i4
10 do Bank Of the State of New York 49,. rs
70 do Island City Bank. ACKNOWLEDGEMENTS. 10
PAS do Empire City Bank :................ 35
20 do. Knckerbocker Bank. ............... 2s1s
20 do Ohio Life Ins. and Trust Co........ 49,
20 :" DO DO do do; .;;.;:.... 1873
~ CooDer Fire. ms In al