The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-11-10
Sl2,oo4 70
The statement of the Pttsburg banks for the week end

a iss y: s ssss $50 s sss5 lliss s
sse Week 'ss l s;;s ss
Increase. 1883 l4ssls
We read in an evening contemporary
At the meeting Of the Terre Haute and Alton BelleyIe
and jamestown, and Terre Hau,e, Alton and ST. Louis
Railroad creditors held this afternoon the following gene
raj plan was proposed
J. The immediate surrender of the road the trustees
under the second morgagethe property be sold and
company reorganzed upon the following series
The first mortgage upon the Terre Haute and Alton
and Beevlle and lnoistown TO remain intact but one
years interest beyond the coupons to be de-
The second mortgage bonds to be exchanged for new
bonds maturing in 1892 and the bonds be given
for the coupons on the seconds up to March, 1862 The
present second mortgage bondhoders also pay ten
per cent In cash, receiving bonds In exchange as
above, for principal and interest to 1862.
The third mortgage and fourth mortgage bondhoders to
be made preferred stockholders at par upon condition
advancing ten per cont in cash. for which they get second
per cent of preferred stock.
The general creditors be made preferred stockholders
by paying ten per cent to the second mortgage trustees
as aboye and failing TO make cash advance get thirty
per cent in stock Stockholders to be stockholders
the Of 40 per cent for 100 Of provided
they are not debtors To the Company for bonds No dv
dend Of over seven per cent to be made upon
until all the floating debt is paid and all over seven per
cent shall form sinking fund to pay the first mortgage
Upon this reorganization the committee think the new
company can by February pay dividend upon all its
stock and bonds.
The Boston Post, in its weekly review Of Enhance and
Business, y at home and abroad, says
Money easy business slack stocks quiet or declining
the leading facts of the dull period Business
however, s brisk il ut Thanksgiving time
while prime stocks have advanced Of late so ranv
regularly that s not strange to have them pause WHILE
or even drop back little. As to money 1t continue
to be abundant thing possessing the full confidence
little to do with it, and there would be less did not
banks and individuals carry along of old things
renewed and re renewed, dating back time preceding
the deuge which is say panic of 1857 The cur
rent business Of the day cannot nearly
be for months to come The spirit Of activity spccula
on confidence what not, dormant all over the
globe IT is as still in France and England-n Germany
with money at per cent annum-as s in the United
States, where money per cent? and until this sleeping
spirit is thoroughly aroused be longer be il shorter
money or credit must be very tocraby easy, although
local causes may unfavoraby affect local markets at
intervals and for short periods The question comes,
when will be this awakenng2-a question more easily
asked than answered AS with us of the North the West
Is OF considerable Importance since she continues largely
in our debt, while at some distinct period she again
our excellent customer we may turn to the West par
a response The VESTS bare of goods beyond all prece
dent Our notion is that several crops will be re-
largely and proper condition to pay for what they buy
And believe win require four five years more TO
put the West where she was in ls56-with wealth. emf
grafton, nerve activity and enterprise in superfuityo
say nothing Of the nsane speculation and initiation then
current, which trust (but do not expect) may
again be inflicted upon our country in the quarter of
century. One Of these days the West will buy again
and pay handsomely but think and have often re
marked heretofore, her Improvement will be slow ana
gradual And certainly cannot look her with reason
for the speedy overthrow of that ms inertg that is
evidently ruling the commercial world at large. For
where the American West BIO of very little conse-
quence, comparatively speaking, the s,agnaton
appaIent-the result perhaps Of the wars, the politics
and the financial condition Of the Old World OF some
other and concealed causes the duration Of the effects Of
which are yet indeterminate
The weekly statement Of the Philadelphia banks pre-
scnts the following aggregates compared with those
Of the previous week.
Oct 81 Nor: I:
Loans '''n 25SssSss Inc o.
Specie. ssso,2a4a 5ol7,sas Dec. 1925
Deposits ........ 15,284,s24 l548O,452 Inc 20s 62S
Circulation ........ 27sS,375 2737 100 Dec. 81 1856
With reference TO commercial affairs at that point the
Chicago Press Of November says:-
The produce business Of the city the last ten weeks
has been immense but our general trade has not realized
the activity Of former years. In departments has
been fair while others have fallen below expectations
trade is now conducted safe and healthy basis what
purchased Is paid for. Old debts still troublesome
but these are being disposed Of as fast reasonably
be expected, and with immense shipments OF &C.
reals, beef, pork, &c. the West WILL ere many months
efectualy dispose Of these clogs upon her prosperity
Exchange is firm to- day at H. Currency is also close
Some Of heaviest banks been unable to advance
upon all the cargoes offered. Shipments, however, are
active, and fear shall hear different story
within the next few days. Discounts scarcely be OBJ
tanned on any other than produce paper.
The receipts Of the Grand Trunk Railway of Canada for
the week ending October % weres-
$60,048 18
1905. 54,S77 80
Increase: ....:.;............... IS, l0s q
The total traffic from July /, 1859, to Oct. 22,
s7ss ,a97 Is
same period last year ................. 707, 300 "A
Increase .......................s SIS, All 90
The October receipts Of the division of the Ohio
and Mississippi Railroad were about 800 ooO being de-
crease as compared with the corresponding month last
year, Of $4,000 The through freight traffic was very
light but the loss in this branch was made up in part dur
ing the last half Of the month"; by an increase in loca
business.
The annual report Of the Raleigh and CASTOR Railroad
shows receipts during the year ending Sept 3d. 1852 of
a. and expenditures Of sles s9 81 leaving net
earnings Of ss9979 o. from which dividend or.x per
cent is declared.
An officer Of the Wabash Valley road writes as follows
Wabash Valley Road is improving since this month
came IN the freight has largely ncrcased Corn is com
ing in freely and should moi DO surprised 10 zee No
somcly.
The receipts Of the Toledo and Wabash Railroad for oc
tobcr we're
.s22, 4S3 u
susaSdss;prrccssss.......... A sss "a "a
.S74 $50 90
The dispute between the Corn Exchange Bank ana WI
cox Co., in the matter Of forged check for s42oo paid
by the bank about fifteen days since has been tled bv
allowing the firm to draw against the balance 10 their Gre
dit previous to the forgery.
The Chicago Press and y tune Of Friday furnishes the
following table Of the receipts Of wheat and our at tbs