New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-11-06

final operations Reaiing was not active out ue
tned with the rest Of the market ana Wa ''"e Il.
81 at the close Michigan southern o. V''ou't
"a, and the Preferred went to 81 wiholi e'p@c'"
activity in either. In reference TO the ''a'eneN'
made by morning paper as 70 the recognition VI 'Ai'
nights of Preferred shareholders 20 10 & cent arfea-
OF dividend, We given to unders'snl 'ha'
some Of the most influential directors DO not
countenence the idea believe that any oos'''oh oil
the kind exists. II il rot probable that any oihcai
action upon the suhiect viii BE- had. When the result
Of he Fix months business ascertained, the Boari
VII probably declare scrip dividend Of e cent, u
that amount las been earned above expenses and H.
terest. Wheeling and Central declined e cent, but
was not prominently before the Board The decline IN
~ earnings Of this Road for the first three weeks OF
October a. compared with 1857, has already been
about $27, 600 and there must consequently oe some
error in the statement that the months decrease -
but $4,000. Illinois Central was offered freely on
sellers options and declined on cash stock, but the
operations were small. Ere, HUDSON River ana ii4r-
lem declined about each, but were not pressed FOR
sale. At the Second Board, the market was lrregu-
lar but generally fraction better than IN the morning
New-York Genial and Galena advanced al each.
Michigan Central declined l. The dealings 10
State Securities during tie day were quite
limited, but prices are generally steaiy'
In Railway bonds there more doing but at lower
prices Illinois Certrsls declined /. La Crosse Land
Grants with considerable activity, fell of and Fond
du Laos went down to IL. After the Board the market
was firmer, but rather dull and lower in final transact
tions. The closing prices were, for New-for Central
s3s de3i Reading, Sill; Erie, l6i ltii Michigan
Southern, 90! 33:; Toledo, 33i 33i; Rock Island,
6js a65,; Galena, Isl asa; Michigan Central, sd
55i; Hudson River 81 32l; Pacific Mail, 1861 Pans
ma, IsalI9; Missouri Is, 50! a sol, &c.
The demand for foreign bills for remittance by the
Vigo Tomorrow il light aud rates are heavy, with
good supply OF bills offering. Ster6g ise3 81 for
commercial nance. Banks aud banker are quoted
at qId9i Francs are 5.l7; d5.l3i. The movement
in Cotton at the South, and the anticipated increase
in the supply of bills from shat quarter tend to de-
press rates Moot remit;ers waiting to forward by
the Persia.
Freiehts are dull and heavy. To Liverpool: 700
bbs Flour at L. 4,d 5000 bush. Gram 81. in bags;
400 bales Cotton at 3-l6G7-32d.; - tcs. Beef per
steamer at IS; 20 tuns Cov.rseei AT ITS. To Lon
don: 500 boxes Cheese at 3Os.; 1917 bales Querctron
Bark at lbs; 100 bb Pork at %. 3D.; 100 bbs Beef
at i. Cd $50 bbls. Rosin at Is. q 30 h; 10 tuns
Seed at 2O- vessel Of 1870 tuns from Jacksonville
| to Richmond or PhiIa ielpla, With Sawed Stuff or
Flooring Boards, at a.. vessel from Wilmington
| to Wincward with Lumber at sl2.
The business of the Sub-Treasury was Receipts,
s56,773 9S-for Customs, $4,000 Payments, 49,
C5j 50; Balance, s. 27, 76S ~. The business, It viii
be seen, very light.
| Tie business Of the Clearing House TO day WAS
1888 I6J The street is very dull, aud hear of
no change in the conditions Of the Money market ex-
ceptipg, perhaps increased abundance at as y cent
on call and ie6 y cent on paper The supply Of the
latter however is quite restricted, and some of the
discount houses are not offering the contents of their
portfolios, prefelrng TO wait until the banks recede
from the advanced rates they attempting to estab
lish. The temporary movement of specie to the South
and the interior has given currency to the idea
hat we presently to upon period of higher
rates for money. We do not, with the evidences thus
far developed find this conclusion to be either sound
or logical. The movement Of the crops requires the
temporary transfer of considerable capital; but the
demand is not one which can be sustained in times
Of ordinary business activity and the reux likely to
commence again almost as soon the attempt TO es-
| tabish higher rates is made. In short, the Money
market must be regulated by that supply and demand
| which always follow the movements of trade; and
until there is general and complete restoration
in this circulating channel there can be no sustained
rise in the price for money. In due time this change
must come; but it is idle to suppose that, in its abb
sence the temporary transfer of few millions in
specie from part of the country to another can do
than to rufle the surface of the money market
Bank managers ard capitalists who have the charge Of
| these comparatively idle of capital very nat
uray desire to avail of any pretsxt to gain PROF.
liable rates. but the ebb and flow of the money tide
is beyond their control. Activity in business is the
essential point to be gained in order to give healthy
employment to money. Without it, we strive in vain
| to create demand and practice deception on our
selves in the indulgence Of idea which must be so
quickly dispeled. Meantime, while are talking of
the shipment Of coin to the South for the purpose OF
moving the crops may lose sight OF the important
fact that foreign exchange declining below the specie
point-thus checking the export OF coin to Europe-a
matter far more important in the consideration OF the
| immediate future OF the money market. With dmi-
mutton of eighty millions Of dollars in our imports
sin.e January |, and declining market for ex-
change need not be apprehensive of any material
increase Of the value of money while trade angushes
| throughout the country.
Tie President of the Indianapolis and Cincinnati
Railroad Company has recently been in town. and
gives encouraging account of the condition OF that
Road, which has many shareholders at the East.
Since the suspension Of dividends the floating debt has
been reduced from siS go TO $20 OOO and $4,000 of
| bonds have been redeemed. The amount Of earnings
which have been expended in this way equal to y
cent on the capital stock. The earnings in 1858 show
moderate falling Off compared with lS5, but the tile
has turned and October shows very respectable
GAIN II the balance of the floating debt was funded,
| which the President il endesvorng to arrange, the
Road could in January resume the payment Of dvi-
dends.
| We annex comparative statement of the Imports