New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-11-22
FRIDAY, Nov. 2l-P. N.


The effect of the foreign news per Niagara on the
Stock market was unfavorabe, and its influence was
aided by the frmness of the Exchange market which
induced some fears that the large shipments Of gold
might be resumed. The changes, however, were not
generally important, the principal efforts of the
bears being directed against Erie, which fell of to
GO. at the close. This decline is due mainly to the
minors before alluded to, that the floating debt is
larger than has been anticipated and that the
payment of cash dividend in April is much less
probable than had been supposed. Rumor places
the floating debt at about a million, aud gives
the result of the years business, exclusive OF
the payment to the Sinking Fund, as smaller
than any one had anticipated. The net earnings,
which must have exceeded 81 300 600, according to
the usual per centage of operating TINS ROAD, AFTER
deductipp 1920 900 for the Sinking Fund have been
no doubt decreased materially by the payments for
new construction called for by the Superintendent in
bis statement last year. and another considerable por-
ton has according to umOr absorbed in increased
materials, fuel propeers &C. The Sinking Fund is now
over $4,000, and the debt, funded and unfunded,
reduced within the year over $500, OOO The annual
statement of the Company will be issued in few
DAYS. containing full details of the business Of the year.
We have no doubt that the road has fairly
earned exclusive of all charges upon it,
over y cent its capital of $40 600 OOO, which is ~
cent on the market value of the stock. What will
be the action of the Directors in April, in regard to
cash dividend, cannot of courre, be known, but
the stock dividend of the proceeds Of the Sinking Fund
10 p cent, surely will be made. The Directors will
upouestionably act with due prudence and not
mepce the payment Of cash dividends, until fully
assured that they can be continued II the finances
of the road at tina, period viii permit a dividend,
the Stockholders who have been waiting two years,
have an undoubted right to call upon the Directors
10 declare it. very large aggregate amount
Of earnings. which belong to the stockholders,
have been used by the Company to relieve itself
from ia embarassments and il is but strict justice TO
,be stockholders to give them return for their in
ves,ment as soon as possible. II the example of the
Baltimore and Ohio road was followed the Erie Com
NAVY couId make also, 80 + cent bonded divi-
den5 but we presume the stockholders would be sat-
;ssed with small cash dividend in April or May say
2 y cent. to be followed thereafter by regular semi
animal dividends Of the amount. This question,
however can be safely trusted with the DreoqP,
who will consult the true interests Of the sockheders
Reading fell of b cent, closing at els Let
tiers from Philadelphia repeat the statement that
the dumpsge question has been arranged. New-York
Central declined per cent Panama, l. In Western
shares the tendency was downward but for Gaena the
market was up per cent Pittsburgh was also rather
better. Illinois Central rights soid at l2l,. Railroad
Bonds are firm and Illinois Central are in good demand
at 81 AL. Enc, 1875 sod at sl ls mortgage lo3;
Terre Haute and Alton I'd, %. State S;o.ks are
wanted for Western banking to some extent, and the
quotations are well sustained.
The marko. r Exchange has no; been active FOR tie
steamer Tomorrow. Drawers advanced their asking
rates y cent which checked business RENTERS pre-
errng to wait for the next steamer to paying any al
vance For best Sterling s9i = cent was the ralin,
rates, although some parties ssiee q y eer:. TIE
supply Of outside BIls wac moderate. Franc. were
rather more plentiful there being supply Of sos;he7u
sisra.uros. Tie rsrgc wse 5.2s. 6s.'s..