The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-09-26
FINANCIAL AND CONNER CIAL.



MONEY MARK EFT.
TUESDAY, Sept. 25-6 p. NJ.
There not much change in the stock market TO-
day. With pretty lively demand prices pretty
well sustained Nicaragua Cumberland Erie and Read
ing operated in largely and closed ut yesterdays
prices Erie has not varied per cent for several days.
and the probability of the combination being ord
nary successful is not very good. Is big load to
carry at any price and those who unfortunate enough
to get hold of it at high prices will stand very good
chance Of being obliged to carry it. Reading in de
mand to-day, and some large lots were sold. Cumber
land is very strange stock. II is very good card Tor
spectators, and that is about all it is good for The
company must be losing money at present prices its
coal. Nicaragua Transit holds its We notice many
purchases time both buyers and sellers option.
Nearly all the leading Western Railroad stocks were on.
the market to-day, and they well maintained
Gaena and Chicago opsned and closed firm Only three
small lots were sold. Chicago and Rock Island
was little lower to-day This stock is not
moved much either way by specuators There is very
little stock the market and that is being gradually
picked up for investment It will be less than ten
per cent dividend paying stock without any increase in
earnings. With even moderate increase 1t could divide
fifteen and reserve large surplus. When it is reco
lected that three years ago. when the road located
large portion Of the line traversed open PRAIRIE
that only small part of the country along the
line Of the road under and seeing the bust
already developed it is almost impossible for any
one who has any regard for his judgment to make
estimate sufficiently large to meet the increase of bust
The bridge across the Mississippi line at Rock
Island viii be finished by the 1st Of December and the
road to Iowa City by the LIST of January 1856. That
would open section of country Of unsurpassed fertility,
the travel and traffic of which must all pour the
Rock Island road to Chicago Rock Island is the only
-.
be extended across and this alone will give that road
great advantage all others running West. I'LL
nois Railroad bonds sold freely to-day but at lower pri
ces. Other railroad bonds we're much neglected.
Al the second board there change Of conse-
quence Erie comparatively quiet, and SO were all
the other leading stocks
The Assistant Treasurer reports as follows -
Received on Treasury account. 1922 90
balance on treasury account. 696, l99 IS
raid Tor Assay Office NEUTRALITY-SUSPICIOUS.. 1884 %
Paid on disbursing checks. ............ 2,772 81
The Boston banks pay their usual October sem-annual
dividend Monday next. "The following" the Bee
says, has been handed the expected per centrm
from the several institutions :-Freemans, Market suf
folk per cent; Boylson AZ per cent? Atlantic, Atlas
Blackstone, Boston, Broadway, Commerce, Eagle Eliot
Exchange Faneuil Hall, Globe Grocers, Hamilton, How
ard, Mechanics, Merchants National New England,
North, North America, Shawmut Shoe and Leather
Dealers Traders, fremont, Union, Washington, per
cent City, Columbian Granite State, Webster, az per
cent Massachusetts, 15 per cent? Maverick, per cent
Total 81 2s9, $780, dividends last April, 81 ,26s l50
The following semi annual rates of dividends have been
decided on by the Lowell banks named-Railroad per
cent; Lowell s; Prescott 4; Merchants, g. The Apple
ton will pay AZ or per cent but have not definitely
settled which. The Wamesit have not yet fixed upon
their dividend.
The Boston Transcript of the oath inst says
The banking institutions in this city after consultation
and delberaoD have decided to settle their balances
clearing house, similar in its organization to the
now so successfully in operation in New York 1t
decided that before the arrangement was carried into
effect should receive the approval of those represent
ing two-thrds OF the banking capital in the city, The
plan has been agreed upon by institutions having three
fourhs of the bank capital and it will doubtless be
adopted by all the banks The business Of settling the
daily balances will be greatly facilitated and IL is thought
that the clearing house will have beneficial effect in
keeping the banks in healthy condition We hear that
the plan meets with such favor that there can be
doubt of its complete success.
During the last twelve months the cry among those
having money to invest, has been, :" In what
place it with saieySv Now, the tables having turned
and the crops and business give prospects for prosperous
future the question occurs, In What can we invest for
immediate inccmeY' Our railroads. with but few ex.
ceptions however valuable to the country through which
they ress from their grades and otherwise defective
construction liable to be superseded far de-
for their support. To Albany have three badly
constructed roads, with the river for the trade To Bos
ton, have many air lines besides the Sound that
II is difficult to determine which is the right one or on
which the traveller reach the place in safety To the
West again, the stakeholder is without encouragement.
The roads not only badly located but "gauged" to
conform to the spirit of monopoly with which they were
conceived, and when the expenditure is adding to
the eaptal--is running away with the dividend fund
and the policy Of the management Is TO kill of the
opponents, in what the stakeholder cling to-
in the hope Of return for his investment Such are
briefly the prospects before us as the reciprocity
treaty cutting OF the trade and the population of the
North and the Pennsylvania roads doing their work
in the West we, the New York stockholders are buing
favorites shutting eyes to the facts and hoping
for new batch Of dupes to relieve of our 'perma
nent Investments
But every dog has his day. The people Of Pcnnsy-
vana started upon turnpike roads, and as they believed
monopolixed the trade of the West The commerce Of
the country likewise their control and In con-
temphng the ships and oonestoga wagons they believed
and proclaimed themselves the greatest people OF the
world Financially, they the levers by which the
movements Of the continent be regulated; and
commercially, their position secured the monopoly, and
Of course their future greatness. But in the midst OF
their glorious prospects, adream mist overcoud.
ed their hopesn De Witt Clinton, with a mind
sngularly in advance Of his contemporaries, and enter
prise equal to the conception brought forth his Dh'
and for time buried both his fortune and fame but
eventually raised the city and State to their present i'm
rortance Since then, his successors, with but 1.-THE
Of his genius have expended sl2s 600 900 in railroads.
and instead Of 'monoposng the business they have,
oy the location, their grades, their gauges and the
hagy OF construction, superseded the designs OF Cin
ton, driven the bulk Of the trade the weIland canal
andar nov OH et..s. a.
their contemporaries and bcstowng upon Pennsylvania
the honors and the profits the trade they desired 10