The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1856-05-01
TIE DAILY DISPATCH.
Financial ana Commercial.

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There was mush pAalnAsion n London and
Liverpcol maxken, for The week ending the 18th,
in American shocks. though no change In price 10
noticed Virginia So, lse6. were quoted d e6ae7,
and Va S. sterling bonds, 1889, 1t Sass. In
New York, Tuesday morning, $4,000 Of Va. Sc
sold at eslt and 5000 at so4t.
The Philadelphia Ledger Of Tuesday says.
There Ia . fair demand for money on the street,
bus no pressure. at sac per cent for best names
and lodl 2 per cent for paper OF less credit. The
banks Of this city make their semi.annusl divi
viii come on the market, and TO that extent will
ease the market and lessen rates.
The effort commenced some three months ago,
by merchants Of Philadelphia. to raise $4,000 to
complete and equip the Steubenvilie and Indiana
Railroad but which at the time ended with raising
one hundred thoasand dollars and in postponing
further action, has been again revived. and the
original committee strengthened BY nearly dou'
hing its number.
The earnings of the Galena and Chicago Rail
road Company In the four months ending April /,
ls56, were $a68 100. against S407,l9l for the cor.
responding period the previous year. showing an
increase of S60,929
The New York Herald of Tuesday, says the
steady reduction In discounts is calculated give
greater confidence without causing any strineency
Ia the money market As the season advances
&nu DueiHtss suBsiucos INC uotlAHu upou tho Danks
becomes less, and with smaller aggregate of
loans the supply of capital IL likely to be greater
The banks will find it difficult keep up line of
discounts as large as they may desire or require
The banking capital of this city Is now several
millions greater than at this time last year and It
must be actively employed in some way. II bust
ness paper does not offer in sufficient quantities,
loans must be made on stocks.
The ease Of tie Money market Is about to be In
creased and the speculative movement Of the Stock
market stimulated by the payment of about four
millions of dollars out of the Sub Treasury, on
account of the Deficiency Bill, which again tn the
course of few weeks will be followed by the dis-
hursement Of nearly 81, 900 600 more fer the Texas
indemnity. These large sums drawn from the
Treasury, will be thrown into general circulation,
fortify the banks. and further encourage the pre-
sent expansive movement
In the Massachusetts, Senate, Monday, leave to
withdraw was reported on all the petitions for new
bank charters and increase of bank capital
The citizens of Selma have. within the last few
days subscribed $50 600 to the Alabama and Ten.
nsssee Rivers Railroad
At meeting of the Board of Directors of the
Baltimore and Ohio Railroad, held Tuesday, div
idend of three per cent was declared on the CAPT
talstock, payable on and after the 18th Of May
The books will be closed on the 5th of May. The
vote for dividend stood nineteen for to seven
against It,
Charles Boughton, lately Treasurer of the Lam
Lancaster, on the charge of embezEling two hun.
dred and seventyive thousand dollars of the funds
Of the Bank