The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-03-22
AND COMMERCIAL.


With less activity among spectators. At the first
board Missouri 6s advanced per cent; Erie bonds,
1876, }; Nicaragua Transit 6; Cleveland and Pitts
burg, 2; Galena and Chicago, Il Cleveland and
Toledo, 9. Illinois Central bonds declined per
cent; New York Central Railroad, \; Erie Railroad,
4; Reading, 1; Hudson River Railroad, 1. Mil
waukie and Mississippi Railroad sold this morning
at s3s per cent; Chicago and Rock Island Railroad
at 90 per cent, which is On advance of per cent
last sale. The dividend of this company has not
yet been officially announced, but it is understood
that five per cent will be the rate, payable at about
the usual time. There was more activity in Hudson
River Railroad, with slight downward tendency
Nicaragua Ira nsit was in demand to-day at the
advance. The company's statement, published this
morning. has had favorable effe upon the public
mind. It shows that throughout The company havs
faithfully fulfilled oil its engagements with the gov
eminent of Nicaragua; have been willing at all
times to entrust any matter Of dispute to arbitra
tion as provided by its charter and have paid large
sums Of money for rights and privileges never en-
joyed 1t will also appear that the Hon. Parker H
French, to whom was delegated the power to adjns
Jail differences, acknowledged that the company had
paid all that due, and that the fairest way was
to start upon new basis. The government of
Nicaragua, as at present constituted, appears to
months half dozen commissioners have been APP
pointed and hafa dozen plans adopted to settle with
the Transit Company. The final appointment of Par
ker II. French was almost Immediately after revoked
leaving the Transit Company without the power to
investigate matters with any authorized agent The
fact is that the government Of Nicaragua has had
settled policy from the start. Ali sorts of counsels
have at times prevailed, and we should Judge from
this that possessed all the internal elements of
dissolution. 1t appears that all the leaders have
been afraid to trust each other where the handling
Of money was concerned. The frequent changes in
the agents to arrange with the Transit Company
show that either ignorance dstrust prevailed at
the seat OF government. The statement of the
Transit Company bears the impress of truth and
we have 10 doubt is susceptible Of proof The re-
mark OF Mr. French may be construed favorabIy for
the company. If he has any influence with his gov
eminent, his statements, based upon an examina-
ton Of the company's books and accounts may re-
jnstate the company in all its rights and privileges
At the second board the market was slightly de-
pressed Erie was moderately active; Cleveland
and Toledo was sold to some extent in large lots.
Erie fell off per cent; Cleveland and Toledo, 8;
Reading, Il Cumberland, !. After the board lower
prices ruled, and the market closed weak. The
steadiest stock the list is Florence and Keyport
joint stock. 1t sells regularly every day at per
cent. 1t has not varied fraction for weeks, and
sells the buyer sixty days, for cash. While
other fances are running up and down three, four
and five per cent, this does not move peg. There
may be wide margin for rise, but it is pretty
certain it could not fall much without going COM
pletely out Of sight.
The Assistant Treasurer reports to-day as fol-
lows:-
Paid on Treasury account e25 sos 70
Balance !" .................. s O66, 1858 ~
psid d ,ol assay Umc Sh.oI. 6s
The payments to-day include sl,5OO,OOO, being the
balance due on account of the Mexican indemnity
The receipts include $4,000 from Chicago; 81 ,OOO,
600 transferred from the bullion fund.- and 900
for transfer drafts on Boston.
The gross earnings of the New York Central Rail-
road Company during the month of February, 1861
and 1856, were as follows
february. 1855. 1856.
s1ss 81 81 sls S ssa 81 81
Mail and miscellaneous. 6,8O7 so 1889 81
Total. ss1e274 81 sa7s,ss4 Is
Increase in the month this year, s627O9 "A. It
will be that the increase is almost entirely in
! freight. The passenger business on the New York
Central Railroad appears to have reached its maxi
mum. We venture to say that this road has not
earned net, one per cent its capital during the
past three months.
The Hartford and New Haven Railroad Company
have declared dividend Of five dollars per share
The Boston Journal Of the Goth inst. says that q
very important bill was introduced in the lower
house of the Legislature of Massachusetts Tues
day, which, with the majority and minority reports
was ordered to be printed. The bill provides for
the gradual suppression of small notes, and is SUBJ
stantially as follows:-
SUPPRESSION OF SMALL BANK NOTES
Or % % or be
state dessres for s!rcH.sGn
s. ocsoSsr 1885, Tor Tor any
Sec. From after The passage the act bank bill
i be %ad q y % BE- "a
provide: that offenders shall be punished by hne not
The msjorlty report is made by Messrs. Raymond and
OF Boston, OF the House. dwells upon the alleged evils
OF present circulating Medium, which, " while it
tent represent value i after all but vast system Of
credits with feeble and altogether too narrow basis
holders eighteen million of dollars and out Of proper
ton the supersucture to the basis the report argues,
Of their debt or one million dollars and the credits
are surbed-propety falls In vaue-mercanti!e paper,
stocks merchandise become In
ccmmotion-money IL scarce-times hard-and all
becaufe the banks required to comply with their pro-
misses" When gold il wanted for shipment, and the
banks called upon to supply the demand they must
necessarily reduce their circulation in tbs proportion Of
Ave. SIX eight to oEe for every dollar paid out
In gold.
The report dwels upon the necessity OF increasing the
of coin to prevent those suctuaons In the
rsivs ns.ounit, Of the s%. bill currency the holders Of
which, says, are generally the greatest sufferers when
q bank becomes discredited.
The main Argument Of the report 10 comprised in the
following paragraph
By tie suppression Of bank bills Of less denomination than
five demand would be crested for the
circulation three and half to four and half millions
dollars; this would into the lands OF the people, enter
into the daily affairs a. business e and wodt Be placed
the specie would be nearly
the banks In self defence Eo compelled 70 increase