The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-03
FINANCIAL AND COMMERCIAL.
M o N k u M A II X EFT.

uHu about tuOn0pOllZed the business
railroad stocks, the last two at lower prices. At the
first board, Pacific Steamship Company declined
per cent; Erie, L; Reading, l. Michigan Southern
old, !; Chicago and Rock Island, !. New York
State skies, 1879 advanced per cent; Illinois Cen
trai bonds, l; Erie bonds, 1871. 2; New York Cen
tsl Railroad, i Galena and Chicago, I; Cleveland
and Toledo, 4; La Crosse and Milwaukee, !.
At the second board the market was very much
unsettled and very small amount of business was
transacted. Delaware and Hudson fell Off ] per
cent; New York Central Railroad, 4; Cleveland and
Toledo, /; Gaiena and Chicago. !. This has been
pretty hard day among the railroad and other cor
porations where interest payments had to be made
and we have heard Of several delinquencies. The list
so far il as follows:--
City OF Milwaukee interest due Nov l..
La Crosse and Milwaukee Railroad Company lst
mortgage bonds, interest due Nov. /.
Chicago, st. Paul and Fond du Lac Company Isl
mortgage bonds, interest due Nov |.
Erie Railroad Company LIST mortgage bonds, float
ing debt, DC.
In the case of the city OF Milwaukee aud the la
Crosse and Milwaukee Railroad Company, it IL poss
BILE the default was owing to the inability to gt
funds here oh account of the arrangement OF tie
domestic exchanges. The Chicago, ST. Paul and Fold
du Lac Company are probably in the same position
If this is the only il will be removed and
payment resumed. In the of the Erie Railroad,
the company commenced paying Oh the interest due
this morning, but the supply of money was not suf-
cicnt, and after time payment stopped. The truth
of the old adage that the early bird catches the
worm, was verified in this Those who present
ed their coupons early Mt the compnnys Office got the
money, while those who went Late came away empty
The finances Of all corporations, whether cities,
towns, railroads banks, are in snari and IL will
take time TO get them straight again. The diff
ficnies they laboring under will, trust,
teach them lesson that will suffice for many years
The steamship Quaker City, at this port from Tia
yana, brings sl73 900 in specie She left Havana on
the morning Of the 2Sth of October. She reports at
Havana the steamship Star of the West, from Aspn-
wall for New York the next morning, the 30th Of
October with San Francisco dates to the 18th OF Oc
tober, and 81 ,6OO0 900 of California gold for New
York. and 100000 for London. Total. 81 100, 900
She win be due at this port sometime tomorras
(Tuesday). .t,..
Messrs. Haggerty & Co. have advertised for We'd.
nesday large sale of shawl goods and fancy silr.
The remarks of Mr.. Moran and Mr.. Luth rs, Of the
Erie Rail,oad Company, before the members Of the
Board OF lockers this afternoon, will be found at
length dP,hother part of this edition. 1t appears
to be about the same old story over and again
Many members OF the Board were doubtless rcrliud.
cd today OF the glowing colors in which MIR. Moran
presented his financial plan of 1854, and a grand
opportunity given for comparing the result with
his promises and predictions Those who did 50 viii
not be attracted 10y the proposals from the
source Az no account appears in the report Of to
pf mt III IN bpn iep
spot tor the company 1t must have been abndonea
The Board Of Brokers is just now the last place go
to for money. heypromised to do oil they could to
help the company, and there the matter will drop
The Governor Of this State has set apart Thursday
the 10Th of November, n day Of thanksgiving, aud
il would he 4 good move in MIR. Moran to
secure the services for that day Of all
charitable persons, and particularly of the managers
of our churches pass round the contribution boxes
or to place boxes in conspicuous places labelled Aid
for the Erie Railroad Company" so that every one
could give little to help along that great work
Even the little children might give their pennies to
help the stockholders out OF their difficulties Sc
rously this begging expedition of Mr. Moran for the
Erie Railroad Company has got to be very Dis.
graceful Affair." and the sooner il Is abandoned the
better. After al the efforts made thus far, we be-
four thousand dollars. Mr.. Morans plan il not q
feasible one and cannot be carried out. He asks
the old bondhodcrs the stockholders and the public
geiierally TO come forward and take Fix millions Il
bonds. at cost of about o. o. per cent, for which
he will give them a fourth mortgage. Such pro
position cannot meet with much favor 80 long "a
any one can go into the market and purchase third
mortgage bonds at SO q 90 per cent
The returns Of the banks Of this city for the past
week show the following changes N the aggregates
compared with the week preyious:--
Decrease leans and discounts ......... s2757e
Increase IN specie 2iIl,5t
pvtrease ~ circulation. ACKNOWLEDGEMENTS. 54pHf
increase deposits, actual ......+..t...... 3,a7sj.
IL will be seen that tic reduction IN discounts still
goes on but not at such rapid rite exhibited foi
some week previous. The increase in specie and
deposits j. the favorable fcatare of the statement
and should do much towards restoring public conf.
dence. The specie reserve nov amounts to nearly
thirteen million Of dollars. The California steamer
l. near NJ hand with one mionand half on board
which with large receipts iroh other sources, will
swell the banks serve next week TO the ncighbOr
hood Of fifteen million. The sDsence Of large mer-
camille failures helps the banks TO keep up their dis
count line, as the withdrawal of suspended paper
made quite an item in the Reduction.
The traffic receipts Of the Grand Trunk Railroad
Of canada FOR the week ending October IL, 1851,
were s5OOll against s26ss5 for the corresponding
month last year. showing an increase Of s2i.l2
Total traffic from July |, ls57, TO date, s143O9G
against 1895 ,35l for the same time the previous
year.
The notes Of the Woodstock (yermonD Bank
we're thrown out this morning at the Metropolitan
Bank.
The Assistant Treasurer reports to-day as follows
Totoi receipts. 1853, coo IL
Total pay rens. 1910 ~
Total balance 1866, 4o5 ~
The receipts today irclude sis 900 from customs
and 100000 from st. louis.
a. II. Nicolay will hid special auction sale q
stocks and bonds tomorrow, Tuesday. at half pass
II o'clock, at the Mcrclnnts' Exchange.
:. Diapers regular semi-weckly sale Of bonds and