The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-02

Tho naxt xuseLl,,> tatement WILL without doubt, lk'
the last show IN I'M, ease in the specie reserve ant
in actual deposits, with - decrease IN the hne
loans and in the amount OF outstanding notes IN
activity in railroad stocks nc ga early In the weei
was not maintained up to the close ara ne improve
ment in prices, which Of one time bid fair 70 be o
scrdc importance resulted in n very moderate I'd
vance. The position of fnsreial matters is sucs
That any imitation in prices is SURE III bring out large
lois Of stock, and the market is by no means
in condition to bear much more than IL has
now to carry We have before us several
months of prosration and inactivity and at the be.
Vrhlc confidence win not return to railroad stock'
for long time beyond the recovery in other securi
ties. Some Of our railroad securities which have
actually touched bottom. like the Harlem must, in
the ordinary and natural course Of things. improve
The Harlem is now in good hands and if there is any
value in it shall see it gradually developed. The
road is earning gross about one and quarter mil
y ons Of dollars per annum and it only requires a
nea income of say seven hundred thousand dollars
10 nav the interest on debt and give dividend on
both the old and preferred stock The company are
we understand, perfecting a. plan for funding the
acatinx debt Some of the Western railroad stocks
which have been fundamentally depressed, must
soon show sig,s of returning life. and rapidly make
up for lost time. Those roads connected with the
section Of country the agricultural resources of
which have as yet mob been developed to even the
most moderate extent will be the first to recover
from the present depression
The prospects of returning activity In most de-
partments of business are still rather dull The iron
manufacture and the cotton and woollen mrs-three
Of the largest departments of productive industry
still paralyzed, and all the capital invested in
them at sand-still. while thousands of the opera
tives who have obtained their means Of living from
them are without employment. Most of the smaller
departments of industry are in similar condition,
and their worhmen idle. The winter is approaching
and they must be fed. The country at large has
ahundsnt supplies of food, and this must. by some
means, he brought to the consumers Indeed one of
the singular features of the present crisis is that
the harvests have been abundant The Western States
have never produced such crop as is now shocked
in their barns II il estimated that Illinois alone has
one hundred and sixty million bushels Of bread
stuns. which, but for the disarrangement Of the
currency. would he moving forward to market; and
Iowa. Wisconsin. Indiana and Ohio are full Of wheat
ard corn. The ordinary means Of transportation
eastward by the 'akes and canals are practically at
end for the present season. and it is manifest that
there is not now supply sufficient for the demands
Of the East until spring. The railroads will be taxed
70 their full extent to furnish transportation for it
during the winter; and at present it would seem
that they must derive profit from it. The West il
in much more favorable condition now than ever
before to get her crop to market in the winter season.
The navigation Of the Ohio and Mississippi is exceed.
ing'y good now owing to the unusual rains and the
present state Of the water indicates navigation
from the mouth of the Ohio during the win
ter. The network Of railroads through Illinois and
Indiana leading to St. Lous and Cairo at the mouth
o. TIE Ohio will furnish facilities to ship breads.us
from those States and Wisconsin by the way OF New
Orleans during all the winter months The present
prices in the markets Of the Atlantic cities and
ahroad would render shipments. even from wiscon-
sin, Iowa and Northern Illinois. highly remunera-
tive. Wheat IN sacks be transported
from Chicago 10 England by railroad to Cairo
and thence by steamboat 10 New Orleans
and landed in Liverpool at less than 81 per bu-hel
AND yield profit OF FORTY fifty per cent. The
Western railroads over which II must he transported
have facilities Cor it, transportation. Their fault
and II has heen rrievous one for which they
rsying dearly in the depreciation of the selling
rrmarsgeabe floating debts. in some cases for
corinments adeorate to the wants of their business
They Rod no rrht to run hccdlesy in debt oven for
this Their honest way was to call on their stock
holders frankly for the means and If they world not
afford II unit the expenditure. But the money has
been spent and in some cases, no.wths'and.
ing the corporations are crinn'ed BY IT, it
viii enable them 10 aid the pnblic. and, in
the Western corporations the money has been well
ard honestly expended for equipment and in snch
cases the present depressed prices Of their stocks in
marke, does not afford any ground of alarm. A rad
which is completed and in working order can bear
debt incurred for equipment adequate to the de-
nrds Of lie business. n its equipment can not earn
an income for t. II II clear tho road IL valueless The
present will try the utmost capacity Of all the
roads leading to the navgablc waters Of the Mssis
sippi and we have no doubt tend to relieve them
from many of their endorsements. The very I'M
fortunate condition OF the money market will in fact
render them more Immediately productive than II the
crors had been able to reach the seaboard by the
usual water trnnsporta ion. Capitalists look at
this fact and II l. one Of the few which affords n
little encouragement.
The November coupons on the first MORTGAGE
bonds Of the Harlem Railroad Company will he paid
on presentation at the Treasurers Office No. 80 Pine
| street.
The expectation of snccie from this port lat week
was quite small as viii be seen by the following
| statrment:-
2Hp~vsrS cprcTv ruoN rHg pogr ~ NEW Ynev.
steamship BLACK Warrior Havana aoubloons ~ oo m
10. Asia, Liverpool, Eng cid. and silv. as,3.s 81
10. Kangaroo Liverpool, Am. gold. o,asn ~
Total for tho week Observation-Disclosures. ailr i5i a.
Previously reported. ACKNOWLEDGEMENT q, oil SIT 60
To,ai s3a ics az -
A ". Ncolsy's REGULAR semiweekly auction sale
of stocks and bonds will take place on Monday, Nov.
. n; l2l O'Clock. ct the Merchants Exchange. A
yerie'y Of securities will lie offered.