The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-08

mined not 10 lose the present opportunity ID doing
30 at high prices. The present imitation Is entirely
street movement, and its duration depends wholly
upon the ability OF spectators for rise TO carry
} stocks. Most OF the operators at the stock EX-
change are sellers and the small clique d bulls have
already rs big o load as they can wei carry Inc
commission brokers sell ten shares OF stock where
they buy fiyc Money is very abundant, and nc Tar
as facilities for bypothscati0p are conesrnea' there
T .u.h,r. il~r imitation, Lui
in favor of fur..,-
when we consider the value OF the stocks operated
in we do not see how spectators able to sustain
prices for day. Outsiders show their sense in let
ting stock securities alone, and small holders an
wis., in realizing ut current rates. The sudden fall
In some stocks this afternoon shows how uncertain
the market is and it also shows that it is dangerous
business to touch fancy stocks at any time
The exchanges a.. the Bank Clearing House today
were $l5 sl $40 l6, ant, the balances 81 as6aSl ~.
The notes oS the Medina Bank are now taken on
deposit at the Metropolitan Back at the usual rate
for State currency.
! The Milwaukee and Superior Railroad Company
has much more life In il than we supposed. Il has
lot made quite much noise IN the financial word
some Of its contemporaries, but it will Ne heard to
better advantage at the proper time. The quiet and
unobtrusiye manner in which the managers have
conducted its affairs is the reason why it is not more
generally known in the market. The parties inte-
rested have great confidence in the future prospects
of the road It's finances now in better condi
ton than though the company had extended itsef
beyond its resources. Az soon the recent revrl
sion appeared the construction Of the road was
pended and the only loss WAS that of time. With |
the opening of springthe company will resume operas
lions and push forward its lne This road DIVORCES
from the La Crosse, four miles from Milwaukee, and
will run north along the lake shore through Port |
Washington, Sheboygan and other large places, to !
Manitowoc where it takes northwest direction to |
Green Bay, distance one hundred and twenty miles
from Milwaukee. good part of the first section Of |
eighteen miles of the line il graded Most of the
iron ties chairs and cars have been provided. But
for the financial difficulties which have been realized
by all classes during the past six months this section
would have been completed by the lat Of October,
the appointed time. Fortunately this company was
able to suspend Operations without serious sacrifices
and at the earliest moment practicable construction
will commence and go through without further in
terrupton.
The Assistant Treasurer reports to-day az fol-
lows:-
Total receipts Sis 1884 10
balance. ............. .2,s7s,2sl u
The receipts to-day include s74 900 from customs
The Columbia Fire Insurance Company have de-
clared semiannual dividend Of five per cent, paya
bic on and after the 18th inst.
The gross earnings Of the Chicago and Rock
Island Railroad Company in December 1857, were
800 OOO against 1924 900 for the corresponding month
the previous year, showing decrease of s34 ,000
The Long Island Insurance Company have de- |
cared regular dividend Of ten per cent for the past
six months, and an extra dividend of five, payable |
the 9th inst; the Seamens Bank the half yearly
dividend, payable the 18th of January; the
Clinton Fire Insurance Company o semi-annual
dividend OF eight per cent, payable on demand;
the New Orleans Canal and Banking Company a
semi-annual dividend Of per cent payable on the
LIST Of February at the Office of n. Morgan Son.
| The following New London banks have declared
| scmi-annua dividends:-Unon Bank per cent,
| payable January 4; New London Bank 4 per cent.
payable January S; Whaling Bank per cent pay
able January 4; New London Savings Bank 3 per
cent; New London County Savings Bank J per cent;
| Bank of Commerce per cent.
The Suffolk Insurance Company OF Boston has de-
cared dividend of Is per cent. payable On demand
This company is winding mp, and paid 60 per cent
in April and 40 In July OF last year. making total
of ll5 per cent thas far and final dividend is yet
to be made.
The Hamilton woollen Company, Massachusetts,, |
pays only per cent for the last six months. but has
divided ip ALL regular and extra, &c per cent since
January !, !. lssl' |
The entire earnings OF the Illinois and Michigan
Canal from all sources during the past season of
navigation, amount to s5i6si 81 the grestsr part
4 Fvrbi Ia "a LAM
The tolls were fraction below 5000 900. AZ com
pared with last year, the receipts of this year show
an increase of nearly 10000. During the year the
trustees have paid all arrears of interest and |
s27s ,357 on the principal OF the registered canal
bonds The aggregate receipts of the canal from |
all sources since 1885, arc s7,l7s ,SOi 49, cxpcndi
lures and payments, a. Oss, 800 63--leaving sl09
935 &c in the hands OF the treasurer.
We give ut length In this issue the full annual re-
port of the superintendent Of the Banking Depart
ment Of this State 1t is comprehensive statement
Of facts The condition OF the bs nks the defects in
the present system and some suggestion ior future
operations are fairly treated. Tb, report contains
no new ideas in relation 10 the financial rcvson and
the part played BY the banks in the great movement.
II will be found interesting State paper and will
repay careful perissl. The Superintendent thinks \
that increase in the specie basis OF our benks Is
desirable and that the total liabilities shall CORES
pond more nearly with the specie reserve on hand.
The probability is that there will be no change in
the present system Of banking, in the banking act
regulating the issue Of circulating notes on the dc.
posit Of securities.
The funded and unfunded debt Of the common
wealth Of Pennsylvania on the LIST OF December, |
1857, according to the Governor message, was as fol-
lows:--
Frvlxc1z PEsNsYtvkvLA-
Funded debt -
per cent Observation-Disclosures. N45lso 90
per cent loan. %
az Der cent loan 3ss 200 %
p,r cent loan loo |