The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-02-23

holders every six months up to the alst day Of March
and 30th of September in each year, the first of
which will appear some time in April next and will
show that the present direction have placed the
company in avery strong position, that the company
is entirely free from floating debt THAI the present
management is doing more for the interests of the
stockholders than any previous board, and that
many of the ilnatured and false rumors are got up
in Wall street altogether for stockjobbing
purposes They also intend, as soon as the
spring opens, to run the Sunday trains,
which will be great accommodation to those
residing the line of the road well as profit to
the company. The company are doing well and
their business is rapidly increasing, particularly
their freight business The freghtng of milk alone
on this road has been increased this year at the rate
of nearly seventy thousand dollars over last year.
There has also been very great reduction of ex-
penses, which is pretty good evidence Of good and
judcious management.
The Assistant Treasurer reports to-day as fol-
lows
Total receipts. slol 10 90
pay mentS.. ACKNOWLEDGEMENTS. 1889 OF
balance. ....3, 42,3s1 80
The receipts to-day include 100000 from customs.
The bank returns for last week, compared with
those for the week previous, exhibit the following
variations in the aggregates of the leading depart
ments:--
Decrease in loans and discounts. .......... $765,2
increase IN specie. ,ies,s9l
Decreaae in circulation 64653
Increase in deposits, actual. b17,'5l
The last returns show some very extraordinary re-
suits. With such an increase in the specie reserve
and in deposits, no one inside or outside the banks
could have anticipated reduction in the line Of dis
counts. No stronger evidence than this could be
desired to show the great abundance of money. The
deposits are now about one and half million greater
than ever before reported, and with the rapid in
crease the banks appear to find it impossible to keep
up their loans The specie reserve is now in excess
Of any former period, and is likely to reach much
larger amount The expectation TO foreign ports has
nearly ceased, and the whole of our California re-
ceipts are likely to remain in hand This will add to
our supply at the rate of three millions month at
least, and must materially strengthen money
markets. Aswe have before remarked, the financial
world is about realizing the full force of the fact
that within the past ten years more than twelve
hundred millions of gold have been added to the pre-
vious supply, and the effect must be seen in the
cheapness of capital and the abundance seeking in
vestment where the least rates of interest rule
The City Comptroller invites proposals for $4,000
of New York city six per cent stock, in shares Of
$780, and redeemable at the rate of 900 annually
commencing on the LIST of July, 1860 The pro-
posals will be opened on the 10th of March next at
= o'clock Pm.
The earnings Of the Michigan Southern road for
the second week in February were sl9,397, against
s23 600 last year. The annual meeting Of the COM
pany will be held at Adrian, in April next and there
will be presented to the stockholders. by Mr.. John
B. Jervis the President, a very explicit account of
the condition of the road.
The Illinois Central Company give notice that the
subscription list, both in New York and London, for
the optional right bonae> II now closed, except in
respect to portion Of hs July options the holders
of which may yet surrender them and become sub
scribers TO the remainder Of the new loan.
The report of the Maine Bank Commissioners
states the capital stock of all the banks in operation
at 1881 200. Four banks during the year have
gone into the hands OF receivers, viz: City Bank
and Grocers' Bank, both at Bangor; Hancock Bank
at Ellsworth and Sanford Bank at Sanford The
commissioners are convinced that there are too
| many banks in the State, and they suggest the
means Of lessening their number as rapidly as those
vino hold charters may be disposed 10 relinquish
! them.
| The New Orleans PicGpne ofthe lith inst says
The movements In paper 70 day denote decline in
rates We heard OF the sales Of long dated at ten per
cent. and n small amount per These fglres
not actually current bet may ere long rule The offer
ings IN baak small a. day. and the week IL closing
| highly CRAFTY ing % the commercial community
The weekly statement Oi the banks is strong one,
though showing decline in con, and increase IN de-
p0sits OF million dollars There s also Increase
in loans, and decline In specie The changes for the
/ week are follo xs
! decrease IN short loans silT 376
Decrease IN specie ACKNOWLEDGEMENTS. 1885
| Increase in circulation 5000
Increase in deposits 113 1886
decrease in exchange .......... Ss9s76
Increase IN amount due distant banks ...... 2e.Iol
Increase In deposits proper 1855 225
The exchange market 10 day decidedly heavy;
buyers willing, but insisted lower rates and the
sales comprise some sight New York at discount ten
days sight "A discount thirty days Ia ~, sixty days
sight at discount We quote, however, choice aud good
sixty days a, a 30 - discount Some choice sigma.
lures Boston were taken al discount Very little
done In sterling, and grades fell or Bills With docu
men,ary evidence taken at l05s 1861 and 10T.