The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-11-26
FINANCIAL AND COMMERCIAL.
MON EY M Ark e + .

days prices, Reading also without change. Illinois
Central R. R. in demand at theiadvance. Operators
in Erie anxously looking for the annual report Of
that company. 1t 10 al prepared and will be out
time this week. The principal prints have already been
published The net earnings according to the company's
figures have been twelve per cent on the the capital
which is equal to 81 100000 or this we know that
$4,000 has been paid into the sinking fund.- leaving
$780, coo and also know that the whole Of that has
been disposed or in way, for the Company has no
surplus in hand beyond the sinking fund. We must,
however, wait for the report, and then shall have
something official.
After the adjournment Of the board the following sales
Of bonds and stocks made at auction BY Simeon
900 Delaware I.ckawsnns Western RR, Int added !!
5000 Peru and Indianapolis RR. do. SO
1000 Cleveland and PttsburgRR. do. IA
1000 Chicago, St Paul and FOn du Lac RR sso..z7So
50 shares New Jersey Zinc Co. ~
20 do Grocers' Fire Insurance COMMUNICABLE
20 do Astor Fire Insurance Co................1o6
At the second board lower prices ruled. The Persa's
advces not generally known until after the adjourn
Of the first board The effect Of the European
wss Of an unfavorabe character. Erie Railroad fell of
per cent Reading, q; New York Central, u; Glove
land and Toledo, Z. Panama advanced u per cent; Chi
csgo and Rock Island, a. For Ia Crosse and Mlwau
ke so per cent bid, buyer sixy days. isreportsd
that the January dividend Of this company win be six
per cent in cash. 1t Is also reported that the Gaena and
Chicago Railroad Company viii pay In February the regu.
lar per cent in cash. ana extra dividend Of twelve
per cent. The company do this and retain larger
surplus than ever before reported.
The steamship Europa, from this port for Liverpool,
Tomorrow "wednesday will take out about half mlso
Of dollars in specie Tho engagements TO day amounts
nearly four hundred thousand dollars.
The Assistant Treasurer reports this week - fol
lows
Receipts. Payments, Balanoe.
saturday.......sl9l,l 23 o6 ssol6s OF sl2ll3,79s
Tuesday ....... %, l22 10 lll,ess "a 12oo2, 9a2
the Plover Herald gives the following good in
ssson 10 the extension OF the Milwaukee and Horizon Rail-
road into the pnerics:-
Mr. Euen, his return from the upper Wisconsin,
enthurasm prevails at wausau respecting the prospects
Of the road. His subscription list has already reached
$40 ooo and some OF the citizens have even pro
jected TO GRADE the road, on their own account from
wausau 70 Stevens Point There Q citing held. In
which the prospects, feasibility &C., Of the road were
duly considered.
Al The recent session Of the Legislature Of Wisconsin,
act passed of great importance to the holders Of
railroad mortgage bonds Of ,hs, stale. The act s,pu.
hxs-
lst That mortgage shall cover real estate acquired
and read constructed after the execution Of the mort
sd rAA, the rolling stock (~hen by the terms OF the
mortgage 1t embraced thcrciu) declared fixture
tho road and covered by the mortgage
ga That the ao,is 70 apply TO mortgages executed be
fore 60 well ~ after u passage.
sth That upon foreclosure the franchise passcs the
mortgages.
The steamship Persia, at this port from Liverpool
brpes seven days bter European in diligence. The
ID highly important particularly In financial view The
advsnce rate Of interest by the Bank of England
have anticipated, but 10 have surprised the
pey circles Of London. We look for fur her increase
before the lapse OF many weeks. The Loadon inns Of
tho s4h contains the following remarks In relation
10 ths movement
The ra.k OF Eosland resolved Yesterday upoo Al.
vance uniform OF per Il the
9th Of last month they adopted six per cent for bills
having more TIE leo months % run and seven per cent
for ell bills two and under three months rnore
paper. Al the tmo the adopted the dsy be-
fore yesterday OF declining TO re- discount bills for the
brokers having more than thirty DAYS ~ run viii be
severed In. This however, not msssr Of Importance,
sncc 10 practice constantly rsortec TO whenever the
immediate prospects Of the money mar OF have been n
an uncertain character. Moreover the usual monthly
loans viii be made all bills maturing within ninety
Eve days
The announcement, az the advance to pcr cen, ocsa
preston prevailed Of the possibility Of movernsnt
but tbe anticipation had SINCE withor, any very clear
cause almost Wholly subsidized Nevertheless there has
been every disposition recognize In continuance OF
the sound policy which kept the financial world free from
oil shocks during the war; and which has thus far avert
the sub sequent break up Of the continental naston.
In the Ave weeks snce the last advance notified
The bank bullion has undergone further elimination Of
than million and the foreign exchanges have In
many quarters become less favorable while the kpplca
tons for discount have lately been scale again
trench On the reserve Of unemployed notes The fact IL
also 10 be noticed that these i'm mediate changes
be attributed 10 any unsoand sction the part Of the
Bank Of France. II such the a new rise
IN the rate OF discount could scarcely be Of much
Bot that establishment FOR two three weeks past has
absssned from its irregular operations, and the French
rate Of exchange has consequently agsn approached q
poipt at which gold might be sent away IN ordinary
course Tho question wrs therefore, whether this con
diton OF circumstances TO be allowed 70 90
true the arrival OF the overdue gold from Australia might
exercise an influence the continent whittier would
be ~ once despatched, which would react well this
side, but could not DO more for the moment than pre-
vent the money market from becoming worse aud the
thing desired IL action that shall put end " possible
10 the chronic uncertsniy that prevails and produce
only In very gradual nsnDer, turn Of the tide What
has now been resolved upon may no. effect that
object and ~ quite certain II will lot do more ina,
measure in tho right direction must therefore be
beyond question.
The Times makes great effort 10 disguise the fact that
financial affairs generally very dangerous posi-.
ton. The Bank Of Eogaud may not and TIA very aim.
cult advance the rate Of interest from month /,
month one and two per cent but s death TO tho mer
camille classes II restricts trade TO the lowest points o,
consumption and surrounds business generally with all
sorts OF entertainments Commercial operations CON
menced under log rate OF interest may prove dsas
trcus parties concerned under advance OF two and
three per cent the current value money Tue course
the Bank Of England is pursuing 10 injurious 10 tho
mercantile classes Of London than TO the Specializing
classes Of the Continent The advance 10 the rate o. b.
terest TO per cent Is nothing 70 SPECTATORS Tbsy
can afford 10 pay high prices for money better osn
the regular merchant and We DO NOT see
low the demand rom the Continent can BE-