The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-07-09

advance The decline in the gross receipts Of these roads
bias been discounted il s not likely that the stocks
be hammered any lower this ground. Michigan Gen.
ns was per CENT and Southern guaranteed per cent
higher. Hudson River advanced u, Illinois Central,
which Is moving with singular irregularity per
cent lower The business in bonds and State
moderate 81 yesterdays prices In the afternoon stocks
rather queter and the market closed dull at the fol
owing quotations CArolinas, s6 90; Ohios, lo3
"a Tepnessees soy 90; Mssouris, SIX Il virgnias,
"a II Indianas, SO q 7k Canton, lsX 10; Delaware
and Hudson, ssh SO; Pennsylvania Coal, SO u; Cum
terlsrd preferred, 10 IL New York Central 1917 n;
Erie, ca ~ Harlem, sh Y; Harlem preferred, IS q
NJ Hudson River, 3iK q 80; Reading, AK q q; Michl
gan Central, 4oA AK; Michigan Southern, tx s; Nj
chgsu Southern preferred, FAX a25 Panama. l1614 II
Illinois Central, 50 n; Cleveland and Pttsburg, OK u
Gslepa and Chicago, 63 N Cleveland and Toledo, 241S
~ Chicago and Rock Island, sex 90; Milwaukee and
Mssisspp, A.; Illinois Central bonds, 83x SAX; Pa
cioc Nail, 6sHsx.
The import Of dry goods for the past week, OF which
detailed report given elsewhere, than thrice
that Of the corresponding week last year. and nearly half
that or the corresponding week Of 1857 which the
first week new tariff For the year to date the
import OF dry goods exceeds anything before
this country. Our advces from Europe continue to n
Innate that large quantities Of goods which the will
drive away from their accustomed markets will And their
way here for sale consignment Our country readers
therefore form their opinions the probable
movement Of prices in this city this fall II large guam
titles foreign goods sent here for sale of
the European manufacturers, WHILE the other hand
importers continue order foreign goods they are
doing, it is evident that the auctioneers will do
q lively business this autumn, and that country
buyers who bide their time and watch the progress
Of events may obtain their full supplies at very
anrinO hupi has haoc
good among the importers that may fairly DO ex.
pected that most Of them will overdo the thing this fall
with what consequences to themselves and to uan
cial interests Of the city We have yet 10 see.
Mr.. j. Edgar Thomson, Of the Pennsylvania Central,
ana the Fort Wayne and Chicago Railroad, il in town.
Mr. Garrett and Mr. Corning hourly expected These
gentlemen TO meet with view Of perfectng the late
agreement between them about railway fares and feghts
It to be hoped that the discussion 10 take place will be
worthy Of the importance OF the interests At stake
that Of the parties present will allow personal feel
ings TO influence bis tone TO bias his policy hardly
possible to estimate the injury which has been caused by
the nsane competition of this spring. Hundreds upon
hundreds Of families have been stratened in their MEANS
and the general recovery of the country has been
retarded by the petty quarrels Of Mr. Corning, and
Mr.. Moran, and Mr.. Thomson. During the few
weeks which have elapsed since these gentlemen settled
their disputes each Of the great 70 the West as well
as their connections, both East and West has been do
ing well is not found that the return TO paving fares
has diminished business injured any to bened,
the others The question TO be determined whether
the present freight charges adequate they are
not, whether, and how, they be increed The Erie
and Pennsylvania roads for advance rates. the
New York Central claims that having compete with the
canal, its changes must be governed by the canal tolls
We presume that the meeting will recommend an dvance
Of freight charges and that, for time at least the New
York Central Will abandon the idea of competing with the
canal is very evident that at certain seasons aud on
certain csses Of gooda the railroad cannot compete
the canal without carrying goods at decided loss And it
is equally certain that seasons and on certain
ether classes Of goods the canal compete with the
railroad however high the tariff of the latter may be- By
competing with the canal at all ia all class
OF goods the road ia true, gets freight than II
otherwise would; but carries it, not at an actual loss
at profit very email indeed, and the profit which IL shoud
make on business which would be OF getting spite
the canal s in consequence Of competition like wise
very seriously reduced BY abandoning the com
petition with the canal and charging higher rates for
freight the Central would probably lose TONNAGE but
would increase its net profits and the and tear Of
To road and equipment would be less general hope is
entertained among railroad men that those views may
themselves TO the good of Mr. Corning and
hat the result Of the present meeting may further
and substantial advance Of railway freghts on the four
lines 10 the West.
The Hungarian s at Quebec, with four days later I'VE
The British funds are higher probably in consequence OF
sounder interpretations Of Prussa's oton is
dull and breadstufs quoted heavy Further detals
Oh The news will be found under the telegraphic head
Inc busness Of the Sub Treasury day has fol-
lows:-
Total receipts cor aoa no
Fur customs 90 COO 90 |
Tos ~, w
n. Il
Az
ihe eh0naoges AZ the Bank Clearing House this morning