The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-11-15

Tho rule, the face vi IT, is not sorua Under some
circumstances IL might BE- saic for bank 10 discount
with only I've per cent q rs discounts Specie under
others, forty per cent specie would be insufficient No
arbitrary rule can be lad down such matter At tie
same time, il is very PLAIN tha, order 10 make an in
como many Of the banks doing dangerous business
and d'scountng Car than prudence warrants
The business OF the Stock Exchange during the week has
been very small and altogether confined 10 the brokers
The operators Ter have found il impossible tn con
tend against the reduced which the leading lines
Of railway are dong and have wisely ahandoned the
tempt II Is COW quite clear that May Leading lines o.
Western railway VIII not BE Of earning their
ing expenses this winter and nearly as much may be
said Of the New York Central Ere other lines
The West With all tie das,rs Of las, fall the prospect
ahead for OF these roads IS even backcr now than
then There be bnt little travel this winter between
TINS section aud the West for The West has almost
eether ceased 10 buy goods There can be little traffic
Tor me West taking no dry goods and hardly any
chaDdise from here aud the pcor quality OF tho grain
VIII not Justify m transportation by rail 10 many
stances the very economies which have been prac,scd
this summer in the management II the roads VIII tell on
the roadway when the winter sets in and VIII Involve
heavy expenditures 10 keen the roads cfen To these
the decline o. the past week mnst be asrbed and
however cheap money may he and however strong The
temptation 10 speculate, tsnno be denied that 10 pur.
chase stocks la the isct ~ these adverse circumstances
would be foolhardy. Particular tocgs have during The
week been affected BY other Influences New York Gen.
trail has been huri by he avowed design ~ leading rspan
leans 70 rcInrcduce Their b 70 imrsc tolls on the
road. in favor n The canals The friends Of the read
claim that already. a it tic Introduction o steam npoa
the csnas VII reduce the froishtng business ol
The road to an almost nominal smount, and thai thc
legislature would be unreasonable we're i 10 adj
Sun further burthc,s Whatever may be the up.
shot Of The controversy oae can readily understand
the mwillngness q capitalists t. become buyers
a. the stock 50 hong IS ths tolls question
Is unsettled The Readhg has tccr niuriously affected
by the mir .rable show u mess We pabshcd yostor
day II seems likely that Tho Pres ideut ~ The road will
be dsplacod, and row policy inauguracd which viii b.
more conducive 10 the interests 81 the stockholders. Pa
cibc Mail has been shaken ny discussions about tho div
dond which WI b. declared q faw days Tho idca Of
holding steamboat stock, aud steamboat stock D q
company which does not insure toats and which pays
over hai million year 10 rival 10 buy on opposition,
par, hardly he explained hut a. "a the dividend
we presume VII ne IA par cent fairly earned Two
stocks we're introduced Ia tie heard DURING nc
past wcekhe Albert rr,cstone and the American Guano
Tho former represents arrc aaarres Of the new and
popular olive frccsione, situate n New brunswick the
company hand contains some 20 oOoo,O ions of stone
and i exports 70 ~ go tons his year on which
figures ura pro0 II sio0 900 Tho American tusno Compa
~ the James Islands which are covered with ruano
and IN the possession q which j = protected by the
uni,ed states government Tho trustees of this company
are Messrs. G : harslan. y " sanford, Thos. W.
shepard, Jas. y. whiting VIM u Webb, Hobart Ford,
Jas. T. Snford, $ 4 Polio Josah j Ancn.
The movement 81 tie stock market during the ras,
4