The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-11-11
FINANCIAL AND COMMERCIAL.
WEDNESDAY. Nov. lO-s i.

"WEDNESDAY. Nov. TO- i. VI.
The Persia, which sailed to-day fos Europe. took out
only 1e.s92 IN slececl. tlan was oSpccied For the
present il seems likely that orr specie shipments IA
rope over, and tLa money mus accumulate herc ioc
some weeks to come The effort by the banks pa.
90 the rates Of interest produced the yery
opposite cnects loans for ninety days, longer,
fair security, being made at four per coat. aGi 10
iaand loans be had anywhere at three. Mercantile
rapcr of the bcs, quality scarce, short paper, wish
he best names could be discounted at three per cent an
large quantities Of paper, which ii very far from first
class, is sought for at a B. Exchange for The Persia
ruled dull at 1885, 1923. for sterling aud 80 5l7
Tor francs.
The stock market relapse 50 steadily the condition
Of things which lasted ali that the late rsc bard
IL seems to have been realty. The feature ~ the
market lately, much cageruess no fart 2;
the public to buy up sound sa;e securities md sf bolis,
and marked caution in touching railway stocks Tie d.
mand Tor Mssours and vrginas ! steady though W.,
large the former again touched 90 (at which point -
STATE believed he ready supply the markc,) AMI
The latter %. Tor Erie. Hudson River, aud Harlem
bonds, tho demand Is fair and Cher prices prevail IN
some instances Land Grants better; Illinois Central
tonds arc a shade lower Bank stocks arr rAthcr
quiet. note, however, Improvement 81 one Ter
cent IL Continental shares. The business IN tie
speculative stocks to-day very small and obviousl,
confined to TIC members Of the board who buying
and selling on their own account in the absence az ont
side orders. decline Of two per cent In the price of
Cacna was The most striking feature II the NJ
sion. II Il argued b. many bu houses ia The street tbs
decline a. ten pcr cent m the carrcnt value Of the STOCK
an exaggerated Consequence q tal Of my per cont w.
The I'm earning. o. The rod This hardly f,ir way
81 putting the question. When the Cacna clrncl IT.
standing a. a large dividend paying security two crclm
IN lr In II AZ M Al IN NJ
rying trade west Of Chcaro. and series u accidents
Europe had created a demand for American broads,lIs
such ua was never known before and may never BIZ
known again. These two causes ~ prOnt hryc
now ceased to exist The Cseua divides Tia hss-
ucss ~ the wost With some Xix Or seven rita
roads snJ tho demand tor American broadsuas Tor afo
poau CONSUMPTION is small that tie eralu cannot rroia
bly pc sent to market hy raj. Dae weight should bc ~
lowed 10 these facts spcrua,ng on thc pr condition
and fUre prospects a. these Western roads aud tho .s
crn lines which depend them for uusiness. Tie Roc
Island and Cacna Ia a far bter position than many
other roads having but small funded and % aoatu,
Gcht but stll remain. ofcn question whether The,
can earn anything worth m,ntoi ing over tbcr working
expau>s ami we knoe for Instance, tla, even
,he sales ofthc ILLINOIS Ccntras bonds r h. make ur III
difference between thc receipts the expenditure iho
road. Tie other Weston roads Wcfc lower this morning
Illinois Central lcil ~ IS Michigan Central < Toledo,
4 A.. New Iotk ttntral rather bower this morn
~. Tho ulwse policy IL tho company in con.
cil hc amount - icr ate earnings u giving rise %
al kln's ~ unchnrtlbc We stated the other
day. ou Information derived IRON source generally
curntc that probable te September earnings woud
fan short 81 those VI september 1861 BY about seS 600
aud that Tho Orop,r earnings would show decrease
Ts statement s dcuicJ ID tic street aud lar IT,
crease r. The October earnings looked FOR II i snd,
end With usbts, tha, me Calona caupot show
decreased business without the New York Cens,1 doing
the same that with brcads,us cheap they are and
as improbable % The producer the which rely
Transporting them for m income canno DO good busi
ness and that, II the large number of passcn.
gers carried over the Central ~ octobCr, a
siderable proportion were provided with cheap
tickets, bought during The war with the Eric.
II should be The polio, Of the Central silence thcso
stories by prompt and statement of The facts Hud
son River rather Cher 10 day. Harlem was n fat
demand 81 advance a Z per cent The following
were the October oarnnR-
tNfober. 1891 Ss',Wl W
October, 1865. SyS4s w