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

These quotations are taken from actual sales made
at the close Of each month"; or as near the close as
could be found. The lowest prizes touched at any
time during the year do not appear, the greatest
depressions having occurred at intermediate Pc
RODS. Erie railroad stock fell of to 29a per cent,
New York Central railroad to 75k, Harlem to "a,
Reading 10 62, Hudson River Railroad to 20, Ceve.
land and Toledo to 81, and Erie convertible bonds
TO so. Prices were pretty we'll sustained from the
opening Of the year up to July. Nothing had oc.
CURED previous to that calculated to alarm the pub
Lie mind, and speculation went on swimmingly.
July opened with the developement of the great
Schuyler fraud and the effect Of that exp pose upon
the stock market was almost overwhelming At
the close Of that month prices generally ruled, for
securities Of fancy character, very low. The
Parker Vein overissue soon followed thAt Of Schuy
Ter, and the month Of August brought series OF
panics. The drought at that time was very severe,
and the mort alarming spprehensions were enter
tanned relative to the crops. At that time the cho.
era prevailed throughout the Northern sections Of
the country and the yellow fever throughout the
Southern sections. Most extensive fires were Of
frequent occurrence, the marine losses were to .
very large amount and there appeared to be no end
to the disasters, both on sea and land. The early
part of September was the gloomiest season Of
the year. and stocks were more depressed ct that
time than any other. It was the lowest point
in the year. and the panic spread far and wide. To
wards the close of the month quite Q speculative
movement took place In the stock market aud
prices rapidly Ave, ten AMI fifteen per cent.
All The esuIties Of the Erie Railroad Company i'm
proved largely, and recovered nearly all Of the pre-
vious decline. In October the new financial plan
was perfected for extricatng the Erie Company
from its endorsements, and its publication had
favorable influence upon the bords while It depress
cd the market value Of the stock. The stock fell off,
and touched 81 per cent The bonds steadily appre.
cated the probabilities OF the new loan being taken
became stronger, and the income bonds have within
few days been at q premium. The year 1854 was
hard one for holders Of stock securities. hsny
have been ruined by the heavy fall in prices, and oil
have been heavy lossrs. Tho developments In 10.
lation to our railroad companies have nearly destroy
all confidence In them AZ per lament investments.
The Suspension Of dividends by nearly every com
pany has created great deal Of distress in domes
tic circles, and compelled many holders to submit
to serious sacrifices in realizing portion Of their
principal. Hundreds who have depended upon In.
from these investments have been deprived Of
their means Of living, and forced TO place what III.
tie money may have been saved from the general
wreck in other securities, for safety and profit.
There has been ain ost q total suspension Of divi.
deLds from railroad companies. Those which con-
tinue TO pay have cut down the rate to the lowest
point, and much distress has been the result.
As whole, the year 1854 has been more disastrous
TO public and private interests than any previous
within recollection. Freshets, frauds fires famine
drought disease restitution, destruction and desola
ton in every shape and form, have visited u.s. sweep
ing away life ard property, like chat before whir
wind. At times panics have spread over the country
anDihilaiing in their course public and private
confidence drying up the Of Industry, fore.
ing liquidation, contraction, and frequently sus
pension upon those who wouli under more favor
able circumstances have passed through the storm
uDscathed. At sea. millions upon millions have
been swallowed up, drawing heavily upon the In
surance companies and obstructing the machinery
Of con- nerce by taking away the power by viii n 1t
was moved. Steamships Of enormous cost, engaged
in most active service have been enguiph ID, and
the community deprived OF the usual facilities for
must look 70 the future. With our indomitable
enterprise, energy, perseverance, power Of adapta
bility, with ECONOMY, prudence, aud AL the other
quhnues We rs people possess, the pressure and
depression cannot continue for any length Of time
Our resources are unlimited, our Of wealth
innuDersble, our custry untiring, and our de-
termination unaltersbe. With the exercise OF
these Clements Of prosperity, we shall achieve IT,
and with proper sdminis rati)n Of our financial
AFFAIRS, consolidate and secure IL.
The annexed statement exhibits the average
daily movement in the leading departments Of the
banks Of this city, during the week preceding
Saturday morning, the 30th Of Decsmoer, ls54:--
NEw YoRK CRY BASKs
LodR. Specie Circulation. Deposiles.
New Yort -, 037 654 s2sf 444 s2ii 05s 81 2el 1876
Manhattan. .3,sl9,521 633, o54 2T9,0 2Gse597
Merchants ....3,2fs096 los I45 20i, sol COS l2o
Nechanies' 3,ss5 $50 ,oo5 i2s 429 Sac 3ss74n
Union 25ll,7I6 4el 500 1si 767 21s2, os7
America .365o,J4s oil ,Gsl 7IlS3 49,, s2i
PheniI ......2 G23,06 sos, s2s 1873 jq3 1882
CITY ......... 500, 39s lSl 40 ~ Bgl I83 4Tg