The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-12-29

ngs Of the Dads keep up 70 possible that our bears may
fare better than their brethren II BALTIMORE who sold
90 much Baltimore and Ohio stock that the price
jumped up unparalleled rae, and there some talk
Of ELAINE ducks" The attack to-day chiefly ON Cen.
ral, VIII ch sold down 70 rs, closing 7S bid Gaena
also ely hammered, and two now fables
Get acas TO damage the stock; sold down to e4A clos
Ing 64x bid. Rock Island done low " 62a; IL
closed at 63 bid The earnings for the third week
December show increase OF s3s57 over last year
State stocks very DULL without change price
The closing quotations Of the day follows:-Ms
souri, 6's, s3A ~ Canton, 1874 II; Cumberland Coal
preferred, l2s 49, Pacific Mail Steamship, 76L a u;
New York Central, 15ls ~ Eric, So 4; Hudson
River AIS a Harlem, sA 9; Harlem preferred, 81
"a Reading, 4lss q; Michigan Central, SsaS 80;
Michigan Southern and Northern Indiana, 81 81; do
guaranteed, 1864 II; Panama, 1928 "a Lu Dis Central
ok s.; Gaiena and Chicago, 64s4 IS; Cleveland and
Toledo, 10 u chicago and Rock Island, 63 4.
In reply 10 our correspondent, W. Al, OF s., Viz
gDa who seeks information in reference TO investments
State securities for account of wealthy ward may say
the first place that we trust that for the present at least
dsunion not imminent In the event of overt steps
being taken discover tho Unon agree with our cor
respondent in thinking that the value of virgnas Ms
sours Tennesses and other Southern State stocks would
be gravely deprecated. They would probably suaer
of them the market Of the world; because the war
which would follow disunon would probably be- waged q,
the South and the various States would and IL difficult to
provide the 70 meet their semi interest,
BECAUSE in the event Of such war; in the language Of
vgiDan correspondent the Southern stake consist
ing OF ~ 0OO 900 invested in snves and as much in
real estate vaueess without slaves) would greater
than the Northern. We presume that in any event,
VTgnias would ultimately prove good property
The honor Of Virginia has always been above
suspicion, and no matter how sorcy that
Commonwealth might be tried i, is likely that would
pay s creditors in full in the Perhaps the same
may be said Of Loaisanas South Caronas Tennessees
Kentuckys and Marylands But II dsunion occur it is
probable that the holders OF all most OF these bonds
would for time at least fail get interest
With regard 10 Northern State stocks distinction
must be orawn. We cannot conceive any event that
would prevent the due payment Of on the State
bonds OF New York, Massachusetts and Ohio or that
would seriously and for long period Of dep-ec.ate
the market value Of those securities. Comparatively
speaking disnon would hardly affect them With regard
other ana especially Western stocks the case is very
different There IS blot the financial escutchecn OF
Michigan, Illinois and Indiana which should prevent
prudent guardian from investing his wards money IL the
stocks Of those States And bound say
fnanccring Of other Western States such as Wisconsin
Minnesota, Iowa and Missouri has been reckless and
often so corrupt that well informed person would be
surprised they repudiated any day. Quite large pro-
portion Of the cities and counties of Wes have repu
oiaed and almost boast Of it. among these such cities
as Milwaukee, Wisconsin, and others Of scarcely note
Where the towns agree cheat their creditors what can
you expect Of the States? Pennsylvania in like manner
though from good financial management her credit stands
well abroad should not be trusted by prudent GUARDIAN
he recent conduct Of the city Ptsburg shows that the
old leaven s in the Pennsylyan STILL With regard 70
federal securities it is likely that their value Can ever
be permanently injured by political events Dsanion aud
civil war would Of course deprecate their market vauc
but then s likely that the interest would be fairly
and regularly paid II the South permanently separated
from the Morrill, the existing federal debt would divided
between them just tho Lombardo- Venetian debt OF
Austria has been divided between that empire and Pied
mont
In fine, would sugges, our correspondent to look
at lessi closely at the character and OF the
people 70 -heA h. n lend his wards money as
TO the prospects OF disunon No community where re-
pudiaton has been sanctioned by popuar voso, or
where dishonesty is applauded and called smart
ness should be trusted with money 1t Is not necessary
to parcularize; the eight repudiang States are vel.
known; but it is generally known that there are
many parts OF the country in which the laws have been
expressly framed for the protection Of the dishonest debtor
and the plunderer OF the confing creditor No mater
how firmly the Union may stand, no smoothly
politics may work. no safely lend me 1ey 10 co n
mun.ies where credit ADD honor slch au ebb.
The Sub Treasury received about $50 900 on acco int
the Treasury to day. The business Of the
day follows
Total receipts. $3.50 ,3;S IS
-For customs. Observation-Disclosures. $1,000 90
~ 1of5st o.
-Iaiiiorna drafts. NEUTRALITY-SUSPICIOUS.. 5000 20
balance NEUTRALITY-SUSPICIOUS.. ....SG. 40l ,lO3 10
The following dividends have been declared The
American Fire Insurance Company interest dividend OF
i've per cent pay able jan 3; the Great Western Marine
Insurance Company the usual annual interest dyi
dend OF three and half per Cent s cash capital of
one million dollars; the Western Railroad OF Massachu
sets, semi annual dividend Of four per cent PAYABLE
Jan. 2 The Newark companies the following divitnn1s:-
Newark Banking Company, per cent; Newark Gas CON
pany, per cent; New Jersey Insurance Company,
per cent; Fhemens Insurance Company four pen cent
Newark Savings Institution, three per cent. Howard
Savings Institution, three cent the Ne Mutnal
Company, annual dividend Of ten per cent
The statements Of the Philadelphia banks for past
two weeks compare follows
Dec 10 DE-. %.
Capital .......... 81 ,o47 aa5 l,e47,sso
Loans ...... rs 0S8, 5n5 Is, VS3 Inc .$!37 52l
Specie. ........ 1889 4,5.s5ls Dec. S6,47l
bue IRON other bks 1877 s32 ,27U362 Dec $500
Due 70 other banks 2,4si,52s 257!si3 Inc. 9, -s5
Circulation ........ 2,e4l95o 263o,o6i Dec. IL ss8
Chicago paper gives the following Statement. of the
Of produce, &c at that point for the years
1859 and 5S. The few remaining days this year are
estimated
RECEIPTS or GRAM, &c, CHICAGO FOR THE YEAR CON
WITH niosE OF 1885,