The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-02-21
FINANCIAL AND COMMERCIAL.


WEDNESDAY, Feb 20-S Pm.
There was Q pause in the upward movement of
prices this morning. The tendency throughout was
downward with large sales Of all the leading stocks
After such rise as we experienced in the early part
Of the week. reaction Of more or less force must be
expected We would rather see gradual, steady ad.
vance in prices than these rapid strides, which are
partially reduced by the frequent pauses. The i'm
provement in prices realized during the past three
weeks would have been much better had been spread
over much longer periol. 1t then would have be-
come established as it progressed, and been in the
end more permanent. At the first board to-day
Illinois Central bonds declined per cent
Nicaragua Transit, !; Cumberland, I; New
York Central Railroad, 9; Erie, I; Harlem,
}; Long Island, }; Reading 1; Michigan
Southern, l. Cleveland and Toledo II; Galeaa and
Chicago J; Milwaukee and Mississippi, J. Cleve-
land and Pttsburg advanced per cent; Virginia
SIS, l. We notice small sale of Northern Indiana
first mortgage bonds, Goshen tine, at So per cent.
Railroad bonds are steadily appreciating. The ad-
vance in railroad stocks must put up bonds This
class of railroad securities has not been on the mar
ket much lately. They are principally held for in
vestment- There was small sale this morning OF
Wisconsin Lake Shore Railroad stock at ~ per
cent. This line runs from Milwaukee to the Illinois
State line, along the lake shore. 1t is one OF
two links forming the route between Chicago and
Milwaukee. It has very large passenger traffic,
and on its small capital its net earnings must be
large In taking hols of the Western railroads, the
proper time is as soon after their opening as posi-
BILE. Then they are at the lowest points and stock
holders have all the benefits of the advance.
The Philadelphia Ledger has the following in re-
gard to the small note currency
Three fourth Of the Union have carded small bank
bills The very fact OF bank resortog TO
the of small notes means Of profit good evil
depce that enough Of legitimate banking to
to do and that the ins tuition ought not to exist Ihere
whsteysr lesy have been the necessity tbs p-st
such currency The country is full OF coin, ana We viii
insult the intelligence of readers by attempting
to prove It's supsio ty in respe. over ths paper
substitute. Pennsylvania. Maryland iginia. AabsE,a
snd hsf dozen other states have declared in FAVOR of
the in against paper and far we have heard no
of them ccn.emplates a returpo the dis AIDED Bills
In this STATE currency dealers, iotereted ia the
made application The egisl.turs for he reuasv. of
the intercict bot quite such proposition
will be taised The masses will never again consent
to the small paper permitting the banks to hold the
coin The fact is the character Of the persons desir
ing this retrcgade movement tends to strengthen the
law, and to make it's contieuAnce rao-e certain.
The prohibition Of small bills has been preached
in the Legislature of Massachusetts, the very hot
bed of small bank issues. We should not be sur
prised to see considerable progress made in this
movement during the present session. In those
States which have prohibited the issue of small
bills, the people daily realize the benefits of the
measure and would not under any circumstances
return to the old paper system.
According to thc annual report of the Auditor of
Indiana we learn that the total receipts into the
Treasury from all sources, during the fiscal year
ending Oct 81. 1855 amounted TO- 81 204 683 90
Balance hand ut commencement Of year. 063 $50 90
Tosl for the year 1885, A 81
drsv YIN during he 700 600 40