The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-08-26
FINANCIAL AND COMMERCIAL
w0KEY M Ar X II II.


ssnds and stock, md Reading, suffered the most.
Panama cold In small ots At great depreciation New
York Contra freely offered At lover prices;
fact, there general desire 10 realize at the
falling off in quotations AT the fIst board, Illinois
Central bonds declined Il Per cent New York Central
bonds, X; Erie, 1871, Z; Erie Income, 5; cieve-
land and Toledo Railroad, y; Nicaragua Transit
x; Penn Coal, IL; Cumberland Coal, /; New York
Central Railroad, ~ Panans Railroad 3, from the
opening Erie Ranr0ad 3; heading R1ilroad, J. lriem
u The decline universal We have not : single
exception TO quote The operations la Erie we're primer
paIy Tor cash But for the delivery Of this stock on
contracts natur NJ there would be demand, aud We
shoala see much liver rates current. The time IS
coming when the viii rest entirely upon its oSn
merits and then market yaile must rule very low
The comr any IL this moment the very verge OF
dissolution Its faating debt is the immediate
Of the present ssment; but its income bonds
dae in February next win rrobab lie the rock
which the concern viii split, II in the meantime the
floating cebt does not bring about the collapse In the
statute regarding the responsibility Of the New York
railroad companies it is declared that the plea OF usuy
be pleaded but in the Of the New York CITY
and Buffalo Company, creditor having obtained judy
ent is not precluced from the OF the plea OF
aganss the claims OF bondhodcrs. rhisis feature,
which utterly and entirely set naugh. every security
issued by railroad apanes, where full value has not
been received Any holding certificate Of the aoat
ing debt of the Erie Rlra Company, eau, upon gertlog
Judgment take pIeceGe o. all mortgage bonds nsnri
ousy issued The company put in he plea Of usnry
and so can creditor for the security Of his claim The
probability thai thaso is faint o. usury upon every
<ass Of but those issued under ha frat gage,
and we should not be surprised II OF the outside
itors pat in such PIES - enforce the payment of
their aims As FOR the stock it is nowhere l.
had any value and tue company earned dividend
As the financial condition OF the concern Is developed
the stock will settle down until It finds Tvs true leyei
There will be- no dividends henceforh forever. The
bubble ~ last burst
At the second Board The market was \ shade or two
better but with very limited transactions Nicaragua
Transit advanced 4 cent; New York Central Bonds,
X Reading Railroad, 4. Erie Income Bonds declined
Per cent Harlem 4 We understand that it il the in
ssuon Of Harlem company 10 dissolve the arrange
mont now existing with the New Haven company reIa-
i've to the hauage OF transportation of freight,
passepgers The Harlem company have been serious
sufferers by the terms Of the Contract and 1t would bea
good thing TO get rid of it. The outside operations Of
the viii not be put in proper shape until the
pany place Mr. Dykers IA the presidency. Such
ment would create confidence in the public mind, and
ensure economical mana cement.
The panic In the public mind relative to bank failures
Il rapidly subsding. The amount OF indiana money
Emitted, and have doubt few days will sutd,e
10 reinstate confidence again as strong as ever We
understand that number of Indiana banks are
cfosng up and yittdra ing their notes from cir5ula
non The State is in the market for the pur.
chase OF about balfa million OF lis stock and bank
srr are awaiting themselves OF this opportunity to realize
This will redeem the currency Of that state, and the
probability is that the present plethora of Western paper
money will be followed ~ comparative scarcity There
wau street. The shinpas,er banks Of Michigan Mary
land and Georgia. of worthless, and when they
fail their bills not worth penny; bur not With
the free in al parts Of the country. temporary
may depre cha % the notes for short time
hut they wal, v thout doubt all come out good
We understand that Mr.. Geo. W. Rogers OF Lo-kport,
never owned dollars worth of stock in the Erie and
Kalamazoo Bank, In any shape way, directly in
directly The bank put forth sucha statement doubt
esa for the purpose Of helping its credit.
Jaomyson's Reporter OF to day, says
There are doubtful banks in various sections OF the
country II would he wen for Northern people reject
MI Tennessee and Georgia money-the good banks in
these localities do desire Northern circulation. We
would advise this locality tho reie.tion Of al aichi
gan money'he good Michigan banks and mole opcolng
home for their issues confident that the Tree
banks of Wisconsin Illinois and Indiana wall no. fail
are buying indiscrininately Wisconsin and Illinois ~
"a per cent and Indiana at per cent hut wo DO nos
advise hoaers para with any Of this money at these
ra,- Tor We be ,ye that feS dnys viii bring it to its
former uniform rate If discount New York and New
England ,nry il taken by our banks and brokers
very cheap ths n appears 70 be good reason why
risk should inourr In hodngit. 1t has long been
our helef that the New England banks next to the
inyeterate shinpasters, the most rotten aud dan
gerous.
The steamship Union, from this port FOR Southampton
and Havre to morrow, Saturday viii take ont large
amount Of specie There has been very iarg bu.
sess exchange This packet N consequence Of the
small supply Of bills the market There has been
change 10 rates.
The shipments Of gold dust from san Francisco
the LIST inst, as follows
By steamship 81 ,3a2,ec7
nv steamship Brother Jonathan. ss5,065
BY steamship Uncle Sam. 10 900
Total amount shipped. s2,eI7, 7a2
The previous feui monthly shipment amounted to
sl,e5i, eS3 making aggregate for the month o.
ssl6e,6s5.
he receipts at TIE Office OF the Assistant Treasurer of
che United States for the port Of Now Work. this day,
August IS were si73 lac 80; the payments amounted
70 SIS 40 leaving balance hand Of Sc 32 e57 49,
1be warrants entered at the Treasury Department,
Washington, on Il e al INST, were
For the a, ment Of TgesgGry debts...... $3.50 90
Tor the Customs Observation-Disclosures. 81 40 70
Covered int o tho Treasury from Customs 2500 %
Covered into Treasury lscm miscellaneous
For The War department. ............. aa7Si 70
Tor re Ia, ing fer The wsr ncpartment.. .S20lG 20
Fpr n Interior reparinpnt ............. ll09s 10
Aggregate amount Of appropriation Tor
pay ipg the civil and diplomatic expenses
CT the government FOR the year ending
june 80. 1895 -. .................... f3,1sti9a Is
For buoys, lighthouses and hgh,boats. i,53l,6's 20
The valuation Of the city Of Worcester is:Personal
estate s6aGf Coo real estate $40 $4,000 Increase in
real estate 81 ol Oce in personal estate, 500 Goo Tho
rate OF taxation is Is 20 on OoO amount OF aprropi.
atons, s131, eco.
The quotations r.-rent IN San frsncso the i. Of
August for California seeurisies-state, county AM
city-weTe a. annexed
Sldls !.
bonds OF 1879 per cen.sN ................ so -
War Loan onds ~ Ter cts (accor5ng 30 datc) 81 s5
War Loan Bones, per cents 40. 81 80
War Loan Warrants Observation-Disclosures. 50 -
Civil FUND Warrants Observation-Disclosures. - 20