The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-09

restasc confidence in worthless securities The Out
side public have suffered enough from such inves,
ments to last them many years and it will be lonl
time. we trust, before they v ucn anvtning Oh th
k'na again, Losses amounting to hundreds 81 mil
lions Of dollars have hsen distributed among holder
of railroad securities. and the .sceated develops
ments which have been made Of the 'nancia' "''
management of the companies generally $nno'
30 soon forgotten. Much suffering has been ell. >ue'
upon individuals and families by their losse-
in railroad securities. There can be no spe-
cuah yc movement in the stock market that
win att,act outsiders until new class OF operators
springs up and the horrors of the present revulscn
are removed fr'm the public mind. Spectators OF
the Stock Exchange may get up from time TO time
moderate movement, and show for short period
moderate imitation, but they can make up their
minds that no outside support will be realized, and
the probability is they Will have the enjoyment of
the game entirely to themselves. 1t may be fun for
the brokers to gel up these little speculative excite
ments, but it bias been death to all outsiders who
were induced to take flyer in any of the fances of
the Stock Exchange.
The second board was quite active. but the mar
ket was little weak for some railroad stocks. Ga
lena and Chicago declined per cent; Erie, /; New
York Central, 1. The movement in railroad stocks
does not show any strength 1t is too limited in the
parties engaged, and it is hard work for those en-
gagged to keep up the initiation.
The Assistant Treasurer reports today as fol-
IOws:-
Total receipts $S2,523 %
Totai payme SS,068 oo
losi Oaahce. Zv1o,o'o 90
The receipts to-day include $66 900 from customs
The Sixth Avenue Railroad Company have dc
clsred semiannual dividend of five per cent, pay
able February l. The transfer books close Oh the
25th inst
The Mercantile Bank has declared sema
dividend of five per cent, payable on the 18th inst.
The Merchants Bank of Albany has declared a
semannual dividend of four per cent, payable on
the 18th inst
The annexed statement exhibits the value of TO-
reign dry goods imported at this port during the
week and since January / in each of the past three
MOVEMENTS IN FoREIGS Dry GooDs.
Entered DE- a. w ss port isss ss co., 1ss
Thrown on MARKET. 3,024,25l 2,22i 200 436,slO
The open and favorable state of the weather for
the season has attracted great many country mer-
chants to the city especially from the near trade of
the adjacent States. They have visited our market
with the view Of filling up assortments and reple
nishng reduced stocks. II is too early, however
for the spring trade to open. Yet there is every in
dicaton that it will (shoud the weather prove pro-
pitious) open quite early and prove quite active.
The stocks in the interior from the limited nature
of the autumn trade it is believed are quito low and
will require early repenishing. The large amounts
of produce to come forward when navigation opens
on the canals, will give renewed activity to trade
generally. Another favorable indication il the fact
that many of the Eastern manufacturers have
resumed operations and have appeared in the
market as purchasers of raw cotton and wool The
importations for a month past have been lighter
than usual. Mcssrs. wilmerdings& Mount on Thurs
day, the It'll inst. held sale, the first of moment
the present season, which included an attractive
catalogue of fancy cassmeres Of the manufacture of
the Maverick and Eagle mills. II was too early to
draw large company of clothing manufacturers.
The company however, was good, composed chiefly
Of city and out of town jobbers. The entire cata-
logue of $500 pieces fancy cassmeres, with some
pieces added, was sold. Printed cassimeres we're in
less demand, and sold at 3Otc and upwards and the
sale also comprised about thirty lots clothing linens
which went off heavily and at prices unfavorabe to
importers. Some lots were withdrawn. French cot
tonades sold at &c. and linen drills do at l3c Seve
raj lots of these and other goods were passed.
Most Of the vestings embraced in the catalogue
were withdrawn. In domestic goods few mills
have sent some few now styles of prints and de.
laines intended for the spring trade; but they are
too much in advance Of the season TO attract much
attention. A large quantity of goods held over by
suspended and other houses, from the interruption
to the autumn trade, will likely be worked of in the
spring under the hammer, in order TO liqudate, as
FOR ~ they can be made 10 do existing liabilities
From every indication II will be lively time with
auctioneers next spring The sale noticed above
was made on the usual credit of six moHths Under
the present supply Of goods to come upon the mar
ket in the spring the orders sent out have been
on a reduced scale, and importations for the
spring trade are expected 20 he lighter
than usual. A large numbers Of firms have
been changed or dissolved, while but few
new houses have entcnd the more or less ba
zardous yet attractive field of the long credit sys
tenn of the dry goods trade. II will take time
before the affairs of suspended houses wound up
and before the trade assumes healthy and regular
form in the hands Of those who have passed through
the late panic without serious embarrassment.
A very extraordinary pamphlet has been Issued
by A. G.. Flagg. Esq. Treasurer of the Chicago and
Rock Island Railroad, addressed to the stock and
tondholders of the company. In comparing some
statements made by him in this circular with those
emanating from the Office Of the company, we OBJ
serve some very remarkable discrepancies which Ger
tainly demand explanation. The annual report of
the directors, dated July /, 1867, states the whole
amount Of floating debt to be (incuding some un-
claimed interest, &c.) $l49,l79 l6, against which
they report surplus ofnet earnings, after paying 10
per cent dividends, of 1888 ,i39 40 In reply to an
inquiry upon the subject, made in September follow
ing at the office of the company, it stated that
the amount had been reduced 10 about 6O,0O0 And
yet Mr.. Flagg says:-
when the recent money pressure panic commenced,
this company had outstanding liabilities, usually desic
naied according TO railway vocabulary Heating debit
which amounted 10 than two hundred thousand dol