The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-21
NANCtAl AND CONNER GAL.
mOssw "a . y 80,

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TUESDAY Oct 2o--oP.A
The stck market continued buoy snt with more activity
10 OF TIE leading speculative railroad SECURITIES 10
CevclaAd and Toledo the operations quito iAgo also
In New York Central mo former Il proved from tho
opening, and The latter fell OF om the opsning Mon Of
The transactions were on ue, OF tho extending to
sixty days At be first board Virginia 6s advanced y,
per cent; Erie bonds, third mortgage 3; nos ont q
bonds, 2; Delaware and Hudson, 2; nsH York Cen raj
Railroad, g. Ess ~ Hudson River Railroad, Vi Reading
Y; Panama. l; HIN lie Central Railroad ulsvssod and
Toledo, q Chicsgo and Rock bland, This upwari
movement In stosk securities muoS stronger IN An
generally looked for 20 soon se- tho bank suspen,crs
II can DO AiEba'ed principally to The utter probation
individual credit ana the general distSu chi amt reEsd
ing business psper No 10 disrs cd to touch notes
had at any Hte mo occapatou o: note shavors Il for
he iDe ussd up II therefore sao impression thsa
good deal Of Hosting capital viii 60 asO stook secues In
to individual paper, ami thss VIC eject Of shs
viii b seen 10 IN Improvement Ia prices for saOotu
serssally. This hA very psaaStbs theory and Is maj
work well IN the prAcucc For long time business ra2er
viii be In bad - ,ute Mech OF thai which 10
side ed GOOD VII prove bad and long the fArss 20
ON fem day % day, q The raso reported me suk OF
suspended paper must 10 largely Increased mo ex;sas
If The liabilities Of sbs issgt 81 od
exceeds anything ever anticipated. Il 10 nothing
extraordinary forths nosslns paper suspondod house
to figure .p one tvo and three millions Of doass fhe
market mot only nlied with The PAPER OF hundreds Of
houses which failed and h ,rssnds which have nos
bit We zee daily ha~kei about 90 denl issued By
spssusxrc nsec.ea alta LAND projects s1a enterprises
Of tCs ens kidd. fsv days since thcse was foatug
sbcn the rsrk.t sepuor Dcug paper 10 the extent OF
thirty W rty Thousand dollars, while TIE necessities OF
the hoidor compelled him crcr ~haa Ia these
tiroos sidoreo pretty good sha7s tbs bank, OF
shf city show q contraction Of twe,sy Eve million OF
daays In The lire q discounts waia Tho pat sxty
very largo amount In this contraction 10 represented by
Suspended paper The 1aomeni . bank nnda among Is.
dscoopted payer note protested, 90 much reduction
in she sseresste dhcoont tus. Among the many im
houses which have In thai Tine suspenis led. the
banks ~ = BODY, must have bean saddlsd wta 9
vas: amount OF po,ested paper, Az thAe largo basi
firms which have suspended wind up, their aDe.s
will show very great depreciation and the large aarpGs
tlkea or In many instances will MOI only be found
Yg but he deficiency viii be found large that cred
tors will get little or nothing We have no doubt snx
many houses which, a tho porod OF Suspension wers
suprossd 70 have . surplus ranging from hundred
thousapd 70 one million Of dollars, viii fail 10 pay she
ara sessls twenty nve con the dollar The paper
or one OF our largest houses, which failed few weeks
since with rspuied surplus OF ons million OF dollars IL
freely offered now n 40 cent?, and no buyors We LOOK
for complete clean sweep OF tie great blcase, over
grown joobing houses In al branches OF trade. rho
cit system has among shis Glass been enormously In
aasd their liabilities rcaoh such soulous figures, and their
assets made up OF such variety Of materials, and
are valued n such high rates, that when al
ere put Tie crucbe and cut dosn to tho polut OF
tL availability there viii be very le len In the way Of
resources II, therefore, follows that the abnes must
be cut down In the way and reduced 10 tho
posdipg standard. Among creditors generally settle
nen, sboui be the order Of The day. Az common rule
the ars, oer II. best but unfortunately, very few Of
recent suspensions in con diou 70 propose any
terms general bankrupt Lac viii b demanded, and
ell those debts mot paid in full In pns and remain
settled, Nm be wiped out By that Law.
AT tue second board the market rather quiet and
slight decline in prices realized for somc yairoa
stocks New York Central railroad fell of ! per cen,
Erie, Rsadtng, 2; Cleveland and Toledo, u; chlcsg
and Rock Island, l. nnoh Central bonds advanced no
CENT.