The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-03-29
FINANCIAL AND COMMERCIAL.

sAruRDAY, March 80 p. n


sArunDAY, March 3s-SP.M.
The stoos martet wss good deal unsettled 10 day
While some Of the saeing railroad stocks improved IN
prices others fell oil. There comparatively small
amount Of business illinois Central bt nds advanced
per cent New York q ntral Railroad -: Michigan Cen
xal Railroad, X; Cleveland and Toledo, III Chicago and
Reck IsaEd, K. Ia Crosse and Mls aukie fell or per
cent; Canton Company, y; Harlem, x; Galena and OH
csgo al Illnos Central Railroad 4. Michigan Southern
sinking fund bonds sold ct per cent cash. Illinois Central
bonds q lo3 per cent The stock market does not exhibit
the first symptom Of speculative movement The bulls
have disposition 10 operate, Notwithstanding their Inn
preston that prices pretty we'll down. Tho short In
terest large, and does not appear At all strange
that It u large The great majority Of brokers agree
with "a In the view We have 20 frequently
expressed In relation TO railroad stocks Tney
believe the whole baton ID unsound and much inf sted
Il II folly 10 suppose, with the developments which
are almost daily msde In regard 10 railroad management
and fnaucerng, thu the market value OF these seour
ties can be maintained. IL takes . long time to get a
the facts regarding Incorporated companies Of any kind
but whom they do out and mee the public eye, the
effect generally Of unfavora character Under
the preseat system Of management the best are bad
enough. A. the seootd board tho market wss slightly
better. Erie sdvs. ced y rsr cent; Reading, u; hch
gan Southern, AZ; Gaena and chicago, 4. The i'm.
W
chases BY the shorts. A. Goth boards to-day
there was . moderate movem emit In the Western rail
road itocks, bus The market 10 cd with all sorts oil
railroad securities, and they are actually . drug.
Cleveland and Toledo quite aotve the question
the April dividend 10 this stock u belug discussed
opinions differ GO 70 the result We have MOI the slgh
est doubt on the subject Tue dividend will undoubtedly
be paid. ". have observed large Ct the STOCK
lately, sellers go days 70 impression that tn,
principal orders for these saea from the oompiny
Office and that the proceeds will be applied 70 the pay
mept Of the dividend. This WA the Wy the Michigan
Southern paid their las, dividend, and the Cleveland
aud Toledo Company have urquestiooaby sdop,ed the
same plan Tbs y sem may do for lime longer and
road companies may BY borrowing the money
rates Of interest or By secretly issuing and selling soch
and bonds cover up their rcenness the pub
c for Little While, bus The time sic sdily apprssehius
when such transactions musi DO revealed N their true
light II the Cleveland and Toeto Railroad C,mpany
would apply the prooseds OF hse sales 10 the pay
ment Of ther f,stng debt upwards Of $500 oo0 ia
stsad Of squsndering dividends, there might bs
for their course bus decidedly opposed
this ndscrmins,e inue Of stoch BY railroad companies
under any prcenoe. d unjust 70 their cid stockholders,
fsud upon the public and species Of nnancieSng ths,
nust inevitably result In permanent suspension o, div.
bends and hopeless insolvency.
lee AssuWn' es1Ter repofU 70 oAy ~ fonoW W.
total receipts. ACKNOWLEDGEMENTS. s27l, 1893 10
Iosal pay menu.-.. ......'..,,........ lIo,Sos W
total balance .................-....1 b,ssld74 %
tho receipts include $50 600 for rsnsfer drafts sos
ton, and the pay nslude s22 600 on California
drafts.
The warrsna snssrsd N the Treasury Department,
Washington, on The 2sth inst, were - foliows;-
For The Treau Department seaSS< l.
For the Interto Department. 3o,4sS
War ~.ss.n.. .:c:i,ca ana s.,sr:a ,sS 600 Q;
From sce lAnsous sources .................. d 50
From CUSTOMS Observation-Disclosures. POI 10
The ,ock operations Of Wesley. The principai p,opr,e
tor of he Daity n~a, 70 day were ~ follows
$50 Michigan Southern Raiirosd.... 72x-ossb.
80 DO. DO. So. 7Sj.-buysr 80 dsys
ire sock,obber Of The Tsma has had rather dul
week Of h He has suffered some. with ell NE oshsr
spectators in fancy railroad stocks for ss bot
doubtedy 70 look TOR that good time hh paper
has been long predicting. We could aIord him any
enooursseuent We would with pleasure. he may do
better his week.
The steamship Illinois, ct this port from Asp.nwAl,
brsss sll 7,lis California gold. Inc correspou sins
arrival OF gold lass year 81 tel, $50. ms shovss
decrease OF sss<,Ios Asss sss decrease thus sr this
year ssl7e,loa
The mall Jun 81 ans moment among nnanoicu aud
sp oulstors for The creation Of bas h and
Of bAuhisg capital. within the pes, SIX months
this new excitement has extended and the ddsrsot Js
sislsaures have bs down with applications for
charters. In those ea.os where general banking law
crisis good part Of NE session hes bees occupied die
eussns the policy Of any further increase In tue banking
capita Turing the two yssrs ending January I, 1852
The increase Of banking capital not large wu b.
scep By the ANNEXED comparative isols:-
BANKS 90 yBs USrsp stars
Ja~ 1894 Jan 1890 JAN 1861
Loans dscousw see1 t2s ble ia Iss ee,ssb ne
rpscis ........... 90 lto.2bs S. is $40 eoo72sj0
Circulation ....... 2oao ,7oT lsi e57 2s lTT.W1su
Deposits. ....... lss lss.TIt leotys,37 77 esi ssi
CaVnal. ....... 3oi,S1o,o7i ssS isT,Sst 33s.ol %
Duyng thess nres years specials ios vac ooanaeit
railroad securities From 1885 Z, 1855 the ssue Of va