The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-09-01

90 necessary when dividends are paid without being
earned Here is Q company doing business five hundred
miles away from this city, and instead OF being on
the spot to see that the property well taken care o.
we find the officers here with full liberty to manu-.
facture and sell bonds or paper of any kind, at any
price, to any amount. A company five hundred
miles or that requires its officers to DO stationed
within sight of the New York Stock Exchange TO
watch its stock, requires itself to be watched, and
that pretty closely. And stock that falls six per
cent during temporary absence Of the chief 1nan-
cia officer of the company, and rises three per cent
the day he returns, may reasonably be set down as
one of the class alluded to- When the same party is
seen running from one brokers' Office to another just
before the opening Of the Board Of Brokers' giving
dozen different members each an order to buy the
same stock, he evidently wants the stock for that
the way people generally do when they want to
get stock at the lowest price for Investment"
1t has been one of our peculiar American vanities
to suppose that during period Of war or commotion
on the other side Of the Atlantic foreign capital
would rush in for our securities. The faacy Of this
10 shown in the disposition Of revolutionary France
to prefer its governments promises to pay, at low
interest, to our seductive rates. and the Eng
fish do not hesitate to act upon the belief that there
is no end to the resources and ability OF their gov
eminent to pay interest. The enormous amount re-
quired to subdue Russia will continue to be
furnished, and the ease Of our money market has
gone far to aid the supply and the bankers Of Europe
holding cart loads Of stocks and bonds, will not
hesitate to send them back at the profitable prices
at which they may be sold in Wall street. The
steady drain for coin is unquestonably the result Of
withdrawal Of foreign capital which must continue
as long as the facilities for borrowing money on
stocks are afforded 80 freely. There is nothing in
our commerce, nor do our impotations warrant this
constant expectation Of gold; there s no other sou
ton of the problem than the one we have given. The
banks do wisely in contracting at this moment, or
we shall be plunged into inextricable difficulties, We
are not yet able to pay foreign indebtness, even
in small instalments.
Baring's circular, Of the 18th Of August, says -
American stocks have been generally quiet this week;
but there have been transactions in Maryland bs ter
ling bonds at 3d. Virginia 5s sterling at 10, and Penn
syivania 5s dollar bonds at 81. No Pennsylvania in
crptions for sale under So Sales have also been made
bonds al o. Of Quebec City e's sterling Ioa Cana
da 6s at 113 Of Pennsylvania Central Railroad bonds
at e2 Panama rs sterling at ss Of Illinois Freelsnd at
a. of New York Central at 90; of Camden and Amboy
Railroad at 06H, and Chicago and Mississippi.
Eff. Sattherthwait's London circular Of the same
date, says -
The market for American securities has been steady
without much doing. We note transactions in Virginia
sterling per cent and Maryland sterling per cent at
rather higher prices In railroad bonds We note TRANSACT
ons in Erie third mortgage and New York Central per
cent convertible, at full rates Of last week. Illinois Cen
trail construction bonds freely offered with few buy
Free}and in better demand at quoted rates
Erie Sinking Fund bonds dull. Michigan Central
per cent in slight request at rather frmer rates. We
note transactions in Marietta and Cincinnati LIST mort
gage at ST. and moderate sales of Cincinnati, Hamilton
and Dayton I'd mortgage bonds.
The returns from the Bank of England for the
week ending the 18th Of August, give the follow
ing results. when compared with the previous
week -
Public deposits. 266, 800 Increase. f1, IL, $50
Other deposits -. ,e044A Decrease..... 252, 1854
Rest. ............. 3,360,660 Increase. e,7SS
On the other side of the account -
Governt securitiesfl2 1865 624 Decrease . Es4, 406
Other securities. 14239,6o Increase..... $40, 767
Notes unemployed. 9156,845 Increase. 264, 545
The amount Of notes in circulation is f20, 493 ,430,
being q decrease of s2l5 $50, and the stock of
bullion in both departments is sl6,275 ,2s5, showing
an increase Of 24356l when compared with the
preceding return.
The annexed statement exhibits the quantity and
value Of foreign dry goods entered at this port for
consumption, for warehouse, and also the withdraw
ais from warehouse, during the week ending and in
GLIDING Thursday, August 80, 1866
MOVEMENTS IN FOREIGN DIRT Coon.