The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-18

DO, M Chicago and Rock Island Il Ia Crosse and Mlwau
kie "a Illinois Central rai,ro cad declined per cent
In bank stocks there but a moderate movcm mt
Without any Improvement prices. Railroad bonds ~.re
more freely offered al previous prices The decided
upward movement IN Michigan southern stock and
Closed steady at the advance. 1t is stated that
pary has raised all the money requires for present.
but we cannot see how that IS to bench, the stock
Spectators however, think differently arc dispose
TO pay higher prices New York Contra! Railroad opened
at T5A per cent, and closed a. 75X seller Ave days
There was sale at 74 seller sixty days. Two small lots
OF La Crosse and Milwaukee sold this morning clos
Ing at lo per cent cash. The receipts this
month OF November about SOL COO is stated that
the road Will be completed 10 New lisbon, point sixty
miles from Portage City, the Goth inst At the second
board the market moderately buo, ant but not ac
tive. Pennsylvania Coal Company anced "a per cent
Cumberland Coal, Al Erie, x; Reading, "a Michigan
Southern, old, y; do. preferred Ga!cna Chicago
u; Cleveland and Toledo, \ Chicago and Rock Island,
New York Central l. There was movement Of
consequence in any particular stock, but for the moment
spectators for rise in the ascendency few days
at the present rate Of progress will bring them the
point Of another collapse.
The Asss'an, Treasurer reports to-day follows
p"yh'en's' Za9,2@e 30
Total baaece. DOL 800 II
The bill introduced into the Senate authorizing the Sc
crttary OF the Treasury to issue $50 o; treasury
notes. does not fix the interest," but leaves that to
the Secretary We trust Mr. Cobb will see the wisdom OF
tho policy OF fixing tina; nominal figure
notes can from hand to nd able TO bearer
ON presentation st any OF the government deposlorias
amer fixed day, say two three years may be
deemed best IL rate OF interest of four Ave six per
cent fixed, these notes will be taken up by
OF capital, banks &C., and disappear entirely from
the money market.
The Merchants Bank has declared dividend OF three
and half per cent the original capital stock payable
the 2ls inst to those who stockholders the
ls inst the City Bank semi-annual dividend of four
per cent payable on demand.
The Cleveland Columbus and Cincinnati Railroad have
declared sen apnual dividend Of five per cent payable
the I'd of January the rhenx this city; the
Little Miami Railroad semi annua! dividend of i've nor
cent payable the Ist of February in Cincinnati
Boston and Worcester Railroad semi annual dividend
of three per cent payable the LIST Of January Boston
The Merrmack Manufacturing Company, of Massachu-
se.ts has declared dividend of three per cent payable
demand; the Appleton Company four per cent psya.
BILE on the pod inst
The several rolling mills at phnuxvile, Pa were put
into operation last week full time.
The exchanges at the Bank Clearing House day were
500 So.
In the South Carolina House Of Representatives the
18th inst test vote was taken the question Of
pending the act Of 1910 and RENTING the penalties aga
the banks for suspendug specie payments and the ques
ton carried BY vote Of So ayes to 81 noes-abou.
twenty being absent
The statement OF the Providence banks for the week
ending the 18th inst. was as follows
ClVcuiaton. VI 64b, 45h
DeposiS 2Uo359a
Loans. is l20, 453
specie 42S,45o
pretty good iden be formed Of the position and
prospects Of most OF prominent lines of railroads. from
the annexed exhibit of their financial condition and re-
quiremens -
New York and Erie Raroad-0n its last legs, and
wants money badly.
New York Centra-s5oo 900 decrease in earnings in
two months, and probably Wi pass next dividend.
Harem-Wans a loan; cannot pay expenses
Reading-Protested under the stay Law: wants a loan.
Michigan Cen.ral--Just made loan.
Michigan southern-Full of trouble, and wants a loan.
Illinois Central-wants a loan road cannot pay ex-
pcnses,
Cleveland and P,tsburg--Gonc through; in a bad way.
Gacna and Chicago-wA probably pass next dividend.
Milwaukee and Mississppi-Used up.
La Crosse and MISUNDERSTANDING along; extending
road wants money.
Cleveland and Toledo-will pass next dividend; just
issued new bonds at so per cent.
This list contains the leading lines Of railroad In the
country will be tina, they all in bad way,
and likely get Is very seldom that rail
roads arc absolutely crampcd in their operations for
money; and In the best OF times thcy borrowers.
Capital stock funded and floating Indebtedness
tnuay increasing, while the maximum Of net earnings in
most OF the old companies has long since been touched
The bondhoders these railroads have not general
thing much fear In Of them the lower grades Of
bonds continue deprecated, and in liquidation may
be seriously down from their par value but the mort
gage bondhoIdcrs pretty safe, and WILL In the end,
absorb the entire property. This may not be accom-
plished wi,hou, long and tedious litigation but II must
result in annihating the capital stock in every
such process would reduce the cost OF the works in the
hands OF the owners, and then they might be profit
ably operated.
Tho following table will show the balances in the United
states Treasury subject TO the draft Of the Treasurer
reported on the LIST OF each month during the current
year