The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-19

vania Coal Company, 4 Cumberland, II: pacifi
Steamship Company, l; New York Central. !: Erie
Ii !s;h- ,ss.A and Milwaukee, q Michigan Southern
old s; do. preferred ~: Panama, II; Illinois Cen
trail Railroad 2; Galena and Ch' Hago, 2i Michigan
Central Railroad, 3; Milwaukee ana mississr
pi, 81; Chicago and Rock Island, Ii; Cieve
land and Toledo "a. Mississippi State o.
advanced per cent; Canton Company, =
Cleveland, Columbus and Cincinnati, IL. Notwth
standing the fall in prices, the sales snm up heavy
any day during the present excitement. There were
more time speculatons this morning than we have
noticed for sometime, but they are principally buyers
option The general decline in the market this morning
be attributed almost entirely to the rapid rise Of
the past few days. 1t is natural reaction after such
period of imitation, but must look for rapid re
covery under the influences at work in the mar
ket. The facilities afforded for speculation and
imitation have not been exceeded for years, and ii
looks very much just though the whole power
of the banks of this city would be brought to bear
in favor of the stock market. The foreign advices
received to-day in Halifax may have had momen-
tary influence in depressing prices but so far has
been trfing. The local influences at work are too
powerful, and must have full swing for time long
er. The great abundance of money, the speculative
disposition abroad the reduced rate of interest ruling
on call loans, all point to further imitation. The
character of the securities operated in is for the
present secondary consideration. The tendency
of the market is upward, notwithstanding the occa
sional checks. These are the facts of to-day. The
future-which is tomorrow or next week-when
it comes will take care of itself. The banks are
now free and liberal lenders stock securities, for
the best reason in the world-they have no other
use for their money and we do not see that they
likely to have so long as commercial paper continues
discredited The stock market is now the centre of
attraction for Spectators and it must its
At the second board the market was comparative
ly quiet. Most of the transactions this afternoon
were for cash, and the reaction reported must
have brought in new buyers for it was not of long
duration. At the board lower prices ruled. I'LL
nois Central bonds fell of ] per cent; Cumberland
Coal, l. Missouri 6s, L. New York Central l ; Erie,
Il Reading 4; Michigan Southern, old, J; Panama,
i; Cleveland and Pttsburg, Z; Cleveland and To
ledo, 1t; La Crosse and Milwaukee, 81. After the
board the market recovered entirely the decline of
the morning, and closed very firm. New York Cen
trail closed at 80 per cent bid; Reading, As; To
ledo, AZ, and through the list. Quite an ac-
tive business transacted after the board and the
leading speculative stocks were in demand at the
advance.
There was a meeting this afternoon of the Clear
ing House Association, but nothing of importance
was done. In fact there was no business of moment
for consideration. Returns have been received from
all but two country banks in the State and they all
express the greatest satisfaction regarding the
plan proposed for the redemption of their issues.
Not the slightest difficulty is apprehended. A
few days will restore the country circulation to the
old channels, without disturbing any of the opera
tions Of commerce.
The Assistant Treasurer reports to-day as fol
lows:-
Total receipts sdsss!o 90
paymen@.''''.''''' soo1'ss. -
" DalanCe Z,ob+ u
The receipts include SCI 900 from customs, and
the payments include $55 900 on California drafts.
There will be another meeting of the stockholders
&C., of the Delaware, Iackawanna and Western Rail
road Company on the 23d Attention ia called to the
| notice.
| The Bank of the Commonwealth will, until further
notice, redeem the notes Of the following banks
Mechanics and Manufacturers Bank, Trenton, N j. SIS
Farmers and Merchants Bank, MIddlc,own Point, N j.
Ca,skiIi Rank, Ca,skill, N. ", all denominations.
Merchants Bank, Poughkecpsie N. Y, all denomina
New York County Rank, New York all denominations.
State Bank at New Brunswick, N j. all denominations.
Hunterdon County Bank Pennington, N. j. SIS and up
ward
The notes Of the Manufacturer Bank, at Birming.
ham, Conn, are received again at the Metropolitan
Bank
Messrs c. h A. Ives, of Detroit whose suspension
was mentioned last week, have published the an
nexed statement of their assets and liabilities:-
on the 22d Of last August deposit $3.50 ee7 60
Since then payments TO depostors have
exceeded our receipts isSi2so vi
Balance due deposrors this day, .... se6.ab1 81
Due 10 banks and bankers. 1897 10
Making total amount Of Indebtedness $3.50 SO, o5l "
To nay tho above we have the following assets
bs SsooS Sne ana aoan,,, - 600 %
Leaving. ...sll5,oll 70
Unncumbercd real estate Getty property)..... ei4oo 90
Total assets ...sIsIi! 81
Total Indebtedness. .................... 7oo6s VI
Excess OF assets over liabilities. sos s57 "a
as fast as collected pay depositors. In the meantime
those wishing exchange their demands against for
good endorsed paper, can do so.
BY the arrival Of the steamship Niagara at Halifax
from Liverpool we have three days later news from
all parts Of Europe. The intelligence is important,
but Of an unfavorablc character financially and
commercially. The advance in the rate OF interest
Of the Bank of England 10 nine per cent Is not an
unexpected movement, but one not calculated to help
matters much on this side of the Atlantic. The
London money market exceedingly active and
the pressure very great Approximations OF further