The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-11-22

maintained, and in one or two instances some advance
was realized Between the boards the market was steady
IN the afternoon fair business done at full prices
and at the close the market steady. Panama con.
tnues to lead the speculative stocks The price in the
middle Of the day day 1874 the cosng price 1874
The advance beginning to tempt the bears 70 sell
short Pacific Mall quite active at Saturdays advance
in the afternoon closed at "A bid decline of IL since
Saturday believed that dividend will be declared
at present The Western shares steady without much
change Galena continues to be freely sold by the bears
New York Central uctnates very little; the closing price
to-day was S0H. Hudson River advanced another per
cent closing in the afternoon 40 bid State stocks and
railway bonds the business continues moderaeprices do
ket encourages the belief that going any
very marked changes much speculative excitement be-
fore the holidays. The last prices Of the day wereMs
prsfsrred 1s Pacao Ma. Steamship q S Sss1
Yosk =. Ghs Central 81 Erie, X III Hudson River 20
Reaaua M lS Harlem preferred $50
Southern and Northern Indiana. 81 s do guaranteed,
l71 X Panama, 1874 4; Illinois Central, 500 81;
Gaena and Chicago, 72k u; Cleveland and Toledo, 20
u; Chicago and Rock Island, 63a r.
Decidedly the coolest railroad proposition Of the day
has just been made known by Mr.. ]. Edgar Thomson,
President of the Psburg Fort Wayne and Chicago Rail-
road. The public that that road, which, in the
language Of the President few weeks SINCE was "reay
to fight the New York roads till they had enough of tn
does not pay its interest few months ago we had oc.
cason to remark upon the extreme injustice displayed by
the managers, who defaulted on their first mortgage
bonds but paid in full the coupons on their construction
bondsa later ssuen which the friends of the directors
said to be Interested Mr. Edgar Thomson has now
q new scheme TO ventilate. He says
is proposed to readust the debt as foows:-
!. All the present first mortgages to be assigned to
trusee new first mortgage 10 be executed the said
trustee flor 0O0 The bonds under this mortgage
to be rredeenabe and obear six per cent per annum
instead Of seven per cent, as on the old issues.
The second and income mortgages Of the old roads
Gncudng ST 600 on the Ohio and Indiana Rail- 0ad) the
general mortgage the consolidated road and the mort
gage made 70 the sinking fund bonds Issued for in
terest on all except the first mortgage bonds to be
verted into preferred stock upon which the rate Of dv
deDd or interest s not TO exceed per cent and this
ofteres to be goverend entirely by the net profits of the
road. $50
g. The floating debt which amounted October go 1859
IN 81 TO be discharged from the of
the road till January 1861 and by whatever preferred
stock remains after funding the bonded debt.
The debt TO then stand as follows
common STOCK So, 263, 438 %
rielerIso stock 65oOOOO W
First mortgage Six per cent. 800 900 90
bruge ponos.. Zl6,SO0 90
Tota, capital and debt ......... SIS ,O7s, sa8 SO
excepting real estate bonds which separately secured
on land. w a GM tN
If Mr. Thomson can persuade the first mortgage
creditors Of the old roads, who amply secured
and entitled to have their interest paid regularly
exchange their safe bonds for new issue bearing one
per cent less interest," and less secure as amounting
i've times much he will be entitled to the first rank
among railroad fnanciers. If the bondholders delay
decisive any further with company SO reckless
Of their interests to make the above proposal they will
. deserve to lose their money. #F
The business of the Sub Treasury is as follows -
Total Keceipss. $3.50 200 So
ISo,U87 %
bhlonce.. 1896 400 "a
Tho exchanges at the Bank Clearing House this morning
were large amounting to $S 029 III 49, and the balances
to 81 ,078,174 o.
The New York Bowery Insurance Company has declared
the usual semannua dividend (ten per cent payable
on the LIST Of December.
The New Orleans Commercial Bulletin Of November 1e
reports
The receipts since the 18th instant comprise SO OFT
bales against during the corresponding period last
year Exported rs S15 rs 57 to foreign ports and CTS
coastwse) embracing is $3.50 to Liverpool TIA to Cork
for orders, 3379 TO Havre, $50 to Barcelona 54
leaving hand stock Of 5l4 bales against $50 $40
same time last year. The receipts proper since the LIST
September to date 100 OBS bales more than during the
same time last year $3.50 $685. against and the net
increase at all the ports up to the latest dates
bales Il 074 1888, against 926 ,052.)
The Baltimore Erchange of Saturday reports
There increased demand for money and we notice
perceptibe tightening Of the market this week. Very
little paper goes the street less than per cent
and some considerable negotiations have been made
ing the week at 10 per cent Prime endorsed paper might
possibly be placed at per cent but quote 10 per
paper Call loans good stock coaterals are making at
per cent. The banks have been diecountng compa-
rativey little this week. and the offerings of paper on the
street have been increased in consequence.