The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-09-17
FINANCIAL AND coMMERc lAL.


.
The demand for money is daily increasing. Dur
Ing the past week the rates have been gradually
rising, and call loans have been liqudated to large
amount The banks fad the offerings Of first class
business paper increasing, and. while they caunot
Increase their aggregate line, lind it necessary to
restrict stock SPECTATORS to accommodate the com
merciai classes As the season advances, the crops
come forward in greater volume, requiring more
capital and more active movement of money in
all the channels of trade. This must ultimately
affect holders of fancy unproductive railroad stocks
particularly those which are SO enormously inflated
as to require large sums to carry. The movements
in some of these already show that they shaking
and Notwithstanding the efforts made by
the cliques attached to each to sustain them
the time ia not far distant when the mar
ket value will be somewhere in the vicinity of their
actual intrinsic value. When the financial horizon
looks black and lowering, and the future is not en-
trely free from gloomy doubts and uncertainties it
Ia time for those removed from the immediate area Of
speculation and excitement to look about and see
that their investments are sound and viii bear a
contraction in money affairs. During a period Of
expansion and speculation it is not difficult to get
up an imitation in the most worthless class Of fancy
stocks, but they cannot stand moment after public
points lower than they started FROM In these times
good sound stocks should be in demand at better
prices, while the fances should not be touched at
any price.
A. Fl. Nicolay's regular semi-weekly auction sale
Of stocks and bonds will take place on Monday,
the 18th instant, at l2A O'clock ut the Merchants
Exchange.
The anthracite coal tonnage this season. up to
khn .1ofo uOft ho 1ofo
working the Lehigh and Schuylkill coal regions,
reaches the very large amount Of 100000 tons
an increase the tonnage from the same sources
TO the same time last year Of 35l $50 tons The
tonnage by the several lines for the past week was
full though not quite so large several occasions
within the last two months. The coal shipments
by the Lehigh Navigation for the week ending on
Saturday last amounted to 42,249 tons, being 0l9
tons greater than the shipments the corresponding
week last year. The companys reported shipments
for the season now reach s59,220 tons, against
7s5, 43s tons to the time last year. The Read
ing Railroad brought down for the week ending on
Thursday last 35 TONS and for the season to that
date sos 065 tons, against 515,304 tons to the
same time last year, being an excess of O6l tons.
The shipments by the Schuylkill Navigation for the
week ending on Thursday last were 1874 tons, and
64sOO6 tons to the same time last year. The trade
is In very healthy condition. without any change in
prices, and fair demand.
The Philadelphia and Norristown Railroad Com.
pany have declared seini-annual dividend Of FIVE
per cent.
II is not our intention to occupy our space with
any further notice Of the Cleveland and Toledo Rail
road Company, except to substantiate, when they
may be questioned, the figures have published, and
to record the verfcaton Of predictions as events
may bring them forth. We stated some days since
that the company must build bridge over the Cuya-
hoga river an immensely expensive affair." also some
twenty-five miles of new road from Cleveland to
Grafton. This publicly, positively and repeat.
eddy denied. The company, it was asserted had
neither bridge nor another mile Of road to build,
and our statement was pronounced /" gross false
hood" The stockholders were about the same time
advised that very important arrangement had just
been completed, immensely to the advantage of the
Cleveland and Toledo Railroad Company, the par
ticulars Of which would be announced ia day or
two, and they were advised not to part with their
stock until they beard what IL On tho 2sth
day Of August, enough it came out with
grand flourish, as follows:-
The Cleveland and Toledo Railroad have inst
arrangement with the Cleveland, Columbus ana Gin
cinnA ro3d which promises to be Of very great adan
tsge to the former corporation They have leased in
perretuty and upon terms which make them practically
Joint of the track Of the Cleveland Columbus ami
Cincinnati road from Cleveland TO Grafton, where the
southern track Of the Cleveland and Toledo connects
with the Cleveland, Columbus and Cincinnati road The
arrangement also gives the Cleveland and Toledo the
OF the depot accommodations Of the Cleveland Columbus
and Cincinnati road at Cleveland The track from Berca
where the northern track Of the Cleveland Toledo
connects j to be altered 50 that trains from
that track into Cleveland This arrangement will obviae
any necessity Of bridge the Cuyahoga at Ohio
City. The tracks Of the Cleveland and Toledo road from
Berea 10 Ohio City will only be used for freight This
arrangement also makes the interest the Cleveland
and Toledo identical with that Of the Cleveland Columbus
and Cincinnati and the Lake Shore line Of roads and pre-
vents competition. The saving the Cleveland aud 70
ledc il i estimated viii be equal to 800 coo q $4,000
the first year.
This grand announcement was suffered to work
on the market for a few days, and when it could no
longer have any effect, the same bull organ turned
out Tie following on the 18th Of September
wc stated few days since tina, the cleyeIant and
Toledo Railroad Company hal leased the track 81 the
Cleveland, Columbus. and Cincinnati Road from Cleye
land TO Grafton. Such arrangement was made a. far
IL could be by the committees OF the roads and the
agreement avn up ready for execution and The matter
telegrapbed from Cleveland TO the press here We
now have statement from The Cleveland Columbus AMI
Cincinnati Company, and learn the fact also
from the Cleveland and Toledo Office, that the arrange
ment has len through and its renewal il not ltkey az
present. This failure consequent upon some new
features TO the arrangement proposed BY the Ceyeani
toumons Cad Cincinnati road at the meeting Tor exc.
cutbg tne papers, which were not agreed 10 by the
Cleveland and Toledo Company.
We trust win be no longer denied that the bridge
: estimated TO cost one million Of dollars-and the
twenty-five miles Of new road, must be constructed
This saving to the Cleveland and Toledo Company
of sl0O,o00to $4,000 the first yelr,' having now
TO be deducted from the estimated receipts claimed by
the friends Of the road for the next 023 900
the sum named by us-s900, 0oo-wll be found to be
little above the mark, even by their own showing.
In fact, any material statement made by us in refer
ence to this road will be found upon examination -
he strictly correct. We have disposition to dspa
rage il or the gentlemen who have IT in charge. We
know that moiety of the stock distributed
among large number Of small holders individuals
Of small means, who had been induced by Peter
Funk dividends and docored reports to invest their
LITTLE but TO them important sum, and who could i'll al
ford to ose III we know that they deceived by the