The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-12-08
FINANCIAL AND COMMERCIAL.


There was not much done Ia any stock. Fveu In Erie
there vas not mu;h activity. and, with exception
two, lover prices ruled Al the Art hoard
Coil fell Of y per oent, Erie Railroad, IN; Reading, y;
Cleveland and Toledo y. Chicago and kock Island, y;
Michigan Central 2; Michigan Southern l. Nicaragua
Transit sd,spced per cent; Gslena and Chicago n We
have not auch qsie. market for long tine aud
under such inactivity prices must give way The cntSe
movement Of s,ochs is In the Recent expansions
have brought in great many shares 81 coub fa AMI
fancy securities and PARTIES hrsey involved in opera
tions Tor rise have been ppies
they song, At the rates. Holders have
not at the present moment the slightest proba Of
reducing their supplies az better isice They have
thing 10 look for from the other OF the Atlantic
ola favorable character ba', the contrary uisiy
to be overwhelmed with The DISASTROUS intelligence which
any steamer Is likely t. oring The by the
stesmhp America, at Boston from Liver pool ia, In do
tail, according to IDEAS than received yet
We must turn attention TO .acial matters la Eu.
rope particularly In Epgatd, FIR likely to ope
rate upon money mari OTIS. Whatever may he
the eonoi ton Of great local Interest," whatever may
be the depth and extent 81 domestic prosperity,
must not shut eyes ,he fact that th.
the financial and numerical classes II Britain
In the midst Of and se ious rcvuson How "
will end, II Of long duration, doubt. II relief
IL not affo ded soon-ani CONFESS that
be completely Frustrated Business this siie OF
the Atlantic cannot contemplate this state OF thing.
without serious apr Extensions We do coniler the
accounts received by the last steamer AL exaggerated
A few sechs may show realities far exceeding
worst fears The Bank 81 Eng nd avoid sfarber
nereAse In the rates Of interest," and impression IL
at wi b such snnounccne ont comes paIic In the
financial world The mvIey PRESSURE throughout Fog
land h almost unprecedented. Most rates Of
.tar ,I.l. xl. l.at.
almost Impossible to raise ney ut any price, Second
and third class Of paper entirely usess aud the
bankers unable to lend where tho security Wa
onqnes'ionable II L. very raordinsry that In tho
face of tbese acts quotations FIR oonsois should have
adj, anced. The imitation altogether artificial and
was Of course liable n, my moment important
action. II had not the least basis. Runors of peace
rsgodatons with the short nsres, my speeuis or
created the advance, which ha without a,ubt find
merely temporary. The London Chronicle 81 he I'D
Of November, contains the following relative 10
the money maria:--
Tie state ~ the money market 10 day has BEEN
much than IL has at any time yet duriny ID.
present pressure. The demand has provsd sxIaord-
nary active, far beyond ORDINARY conception, the
general requirements OF tranc would lead 10 lok
Tor, and i Is useless 10 csgeise the fact that
casioned considerable tsipess. Prom all that
ibow abe hear then be dDabt Of the iank Of
England IA gong upsl higher. rnc drain upon mas
Tor The lat tour days been very heavy, and II appears
To Increase daily The lao "a, tnat the rate ~ dscoan.
'cut OF DOORS IL above that Of tho bank and IL
therefore fo cling discounts upon II 10 an extcnt which
thu directors must Ierioree be comp lied restcet
They certainly can9ot vih TO enlarge their opera
items in ,his limo at the present moment aud Il
IL 10 he feared be Obliged 10 .'dyhien Oh
screw" siill In the meantime the tho
',m|'fsn, i1'se., Is hav,'s g., wy anavar.e
osion not c9nhf cd to tho rate Of per but
IA even hiRh II 10 II per cent for rt c,s I'LL. and
sii higher charges winch u |. extremely quest
The prots q trade ,afsly bear Under
stances ~ not ling Ia ind bankers and discount
bf.lers md more cautious, md traders severely
pr1ted by such safe ~ uling. No wonder then II
becomes busy With the posItioo % houses of
hno~daed standing, and aoeep os handed about
all the city unable 10 bnd pefsons willing H.
advances. The export Of gold eon,inues-s- We sai
wou6-s'esdiiy goirg On Money abroad Ia r,ia2
in value In almost every direction the foreign
exchanges becoming lsss svorsss 20 ,bis
cfuDuyi ard variety Of other ei'cgnftaoess coaid
be nenobed on tending " ths end. The pre.ent
aspect d Monetary Affairs !. assured, very un.a,is.e
tory and although trade be sound pos-bi. tt
not rsen money fi,ing In vsise .he demand from be-
coming greater aud the furpy sesfcer, nor srsai and
serious difficulties 20 ths snols sn,le aud trading
interests. Il Is better th'rgs ,heis sht
than 10 be nLlec BY wfui blindness. By isie Ing the
latter d,spouon, re only make the crib. sin more
whsIea- ~ frsnbiy mting tscts thcy are
prepare Ourselves, esea inyo unfairly, witt. rea.~-d
energy FOR the ~ the future and may thereby hope
10 difficulties Sithout s@fi rssait..
Yesferday The Bank ~ England charged per for
loans their dep sit ana ts % the rate bss b-sn
granted, but there very kv who all touch ,hcn
Ni"n she deposit 81 eobros much as per cen,
hss ID en- phid 10 ~ persons pressed Tor money.
A. the second board the only buoyan, stock Mica.
rsguA Transit and that advanced per cent, With pretty
large purchases Reading declined per cent Cleveland
snd Toledo, y Canton Company. y CsmbsriAnd cosI,
y. Gaena and Chicago Arm q, III per cent at the
coss nyo hundred shares could b. bought rith
out putting II up Eve per cent reliable lstsf from
Chicago, arrived today Ays that the earnings ~ this
road for the month ~ November wall rang bx'-cen
1876 600 and 500 eco sgainst sits 900 for tbs
month last year. We alta Cd Gay or t-o since, TIA,
the Dbgs for November would from tz25 900 70
s230 600 bu, later information shows VA,
sccrsby bslor The right figures. The Increase In No
y,ribsr Ia full UP 70 the average o. The previous sir
months ~ The present fiscal year wbsn a "a considered
that for large Jorfion ~ he past mosth tss county
road. along ihe GAisn. and Cpicsgo Railroad IN
v.ry tad contifib Masking ~ difficult fsr the frmss
Sc, their predaee 10 the line the rscepis have ben
es'rsefdinsfy.
Tho Hampshire Coal and iron Company quoted IN A.
NIcolsy sac,son sale. yesterday, A,sa gsr esai
q n error. No such SAFE made
he sfos- esruitg. q, the k.ohgsn Cen,rsi Railroad
Company for the focal year ending November 20 1856
oomp.ud 9Th tho,e ofisss, we're q. sslo-.--
ya,srt<yr JSssoh. ko>oIs TSai
1865 81 400 90 ~ o. 7 bg7 20 81 2s 2, o. sst vi2 ~
1874. 1.osa 51Sbs 7ss,Di 81 h,Isl 20 H5 ff2 %
sSss,oeo rs s2sa,es 81 90 ts5 - $40. 100 N
ne receipt. u tas Nkblsss soa,hsrn gsl.ro.f Con