The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-11-26
FINANCIAL AND COMMERCIAL,


NJ
The stock market during the past week has very
unsettled Prices have auctaa,ei considerably, and
operators both sides of The had times
the movement in thcir favor. The arrival oil later
European advices gave for the time upward impetus
TO the market but not of long duration. la the
midst Of tho imitation the that several
Eastern banks had been discontinued caused reaction
and stocks receded full much they had previously
gsned. The apr ehenon that the New England baaks
which had been flooding the West with theie currency
had ST aimed point too much that failures
would follow visible among speculators but e did
not last long II served 70 how how sensitive thu pubic
mind was and how easily 1t affected. This fact
shows how dangerous Is to operate in fancy stock, FOR
rise. Almost any day something may disturb
confidence and produce temporary panic and scatter
Spectators like many frightened iawus. |, H. there
FORE best to deal In nothing out what has real value and
has dividends in tho prospective large enough 10
interest at least the investment. Such stocks not
much aec ed by the bugtcars Of the day aud holders
are not troubled BY any temporary depreciation in
market value.
There were pmens Of specie from this port last
week, and that We hear Of from Boston Thsre
decrease In the Suotrcasury last week of s540 8s3
Notwithstanding this favorable movement do not look
for any increase in the specie department Of banks
in the next weekly statement We have been sending
specie out in almost every direction except tho
Atlantic. Boston has been drawing from largely add
considerable has gone South and West The adyices by
mai from Europe satisfactory reported by
telegraph The improvement Consois sni other stocx
securities reported entirely artificial while the
probability of drain Of bullion continuing strong
ever. Payments account OF the Turkish l,an Il was
expected would stringency Ia n, ney matters,
and keep up the expectation OF specie. appears that
another arrival Of gold from Autrss had sent into
the Bank OF England viii III prevented the returns r the
week ending Nov. sho wing reduction Ia bullion. II
expected that the next monthly statement u the
Bank Of France would show large and STEADY drain Of
specie We shall not get the official returns until the
next Curard steamer TO Halifax.
The anthracite coal trade has fallen 81 considerably
the past week, particularly from the schaykiu resio1.
The iii pmeps the Lehigh Navigation for the week
ending Saturday last 50 75 tons, AMI pr the
,2ss $40 TONS Tae sbipmcns by the Sch lykil
Navigation Company for the week ending Thursday
90 a13 tons, and for the 1os5, o92 tons
against 872, 3l2 tons corresponding line last year
The Reading Railroad brought down for tbs week ling
Thursday, only 20 3sS TONS and Tho 8s
1854 tons, sgainst 1910 1853 tons TO the ne last
year. The whole tonnage for the from the seaay
kill So Sol tons and including that OF the Lehish,
only reached 93 5S2 tons. The season, pretty ~
over has been Of the most productive In many years
for the carryin companies. There has been ils
interruption 30 any Of them from my cause, and
prices all things considered hsve been
tive than before The aggregate tonnsge has been
largely increased.
The Boston Journa, II the ed inst says:-
The Grocers' Bank has promptly rcd emed evsry de-.
mand made upon It, aDd will CONTINUE to 10 fhs bs
are Jad in specie on presentation The depoSt- have
been reduced TO about 800 900 and ths circl aha u
cOmirg In rapidly. Should IL he deemed best wni
the sfrr u the bank it IL con6d n, believe those
who have given its accounts thorough inye,ts ,ti n
u
amount sufficient TO redeem every liability Of the bank
natures In loans previous 10 January l.
We understand that bill. the Orono Bank SCARF
port Bank. Elsworth Bank of Maine, snd Derby Line
Bank Of Vermont, refused yesterday by the Gro
GERS, wbse they have hitherto been fede~me fast
presented from the Suffolk Tits viii OF involve
their refusal BY the saIpIk It should be understooi
howver that his l. Ia conseq Of accidental
draft The Grorers. which under other ci,c
tsncea would lave protected 'hem and doe not srct
the safety u the bills mentioned Tue result will
probably delay Of two the. days in the reiemp In
u the bills bese until the banks have tim 10
funds Tor their protection.
The annexed Communication from stakeholder rel,
tive 10 the dishonest management II the Nicangus Tran
sit Company, Is pointed and deserved. That inter.
ested in sucb concern will quietly look and
clique Of nanciess ard sleculators their props ~
ysar after year soieiy for private parpo.e- IL A.
this day most extraordinary Schuy had the credit
nsnnging the New Haven Railroad Company jadiciou.y
up 10 the iast moment q hs Administrator AMI the
stockholders have nothing blame bat th.r neglect
blind confidence but 10 The Nicsagas Trsa-it Company
IL clear day that vet u leeches have Gxed them
selves upon ts yiss, and will ony let e, their hold
when completely gofged. The sil wing sts'urc. "
stockholder perfectly correct but mot 81.
eftstcd have Il remedy in hsr hands action
should be tasn Ia the matter and II hsngs
&c made before the al extracted from
she'll II has bseu reported that arrangement ware
about being made 70 amaig the Pacific Mil stetm
ship Company and the Nicaragua Trans, comp,ny aud
We should think there might be truth In a. bat
from the fact tbs, srch arrangement would scatter the
existing horde Of leeches distributed al ng the ine - the
Nicaragua COMPANY from New York to san Fanesco
both inclusive extracting IT. substance ~ every pore
anal smsiion would he the bet thing in the World Tor
the Transit stoekholders would compel the present
managers TO give up their fine piesings II & too good
goose pluck 70 LET 60 out 81 their hands has al
many golden egg which have goas into their pockets
and they win part with It long the stockholders
rest quiet urder the squeezing process. Oar cossppn
dent clearly exposes 81 the ansneefbg operations
OF the past 6fsen months.
The Indiana polls and Cincinnati Railroad Company
earned In October this year si7 s5I 10 against t39eu
% fer the month last year sho~ng Of
t1s 200 a..
The following comparative statement a. tho srac
the Michigan Central Railroad for i've months ending
with October
Passeno-y. F~ghl