The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-04-27


All State stocks and good bonds demand al full
prices The coal stocks were active TO day, without
change OF price Panama rather stronger than yes
terday Pacific Ma,i was steady In the afternoon
stocks stronger, and tho business done vas quite
considerable Rock Is and led the advance. The follow
ing the last prices, the msrkc. closing very rn;-
Mssouris, s7h n; vrginas, 9SX a Canton, 10 u;
Cumberlan, preferred, 2oZ 2l New York Ueuiral,
TAX u; Erie, So III Harlem, TX IL; Hudson River,
SIX e; Reading, SIX x; Michigan Central. bih a5a;
Michigan Southern, IL "a Michigan Southern preferred,
34al q; Panama, 1929 1885, Illinois Central, 65 III
Gaena and Chicago e6h II Cleveland and Toledo, 2i1
25 Chicago aid Rock Island, 59x III Illinois Central
bonds, sSk "; Pacific Mail, ssX 80.
There change in money; the amounts Lett with the
brokers continue be in Of their wants. Very
general satisfaction expressed the conservative cha
racter Of last bank statement An adherence TO the
cautious policy which enabled them 10 make that state
ment will secure the country against another period Of
trouble and danger this fall Exchange on Europe opened
dull 10 day. but gained strength tho day advanced We
quote bankers sterling at ITO ll0 and francs at $40
a6l2X Tho amount Of specie TO go out tomorrow will
probably range from 100000 to s11oooOO according to
circumstances
The business ut tho sub-rreasury day was as fol.
FOR cuhtoms ................'.......'. oo'voo W
TOTAL pay entS <IS,oos -
Total balance. o.Io5,3so w
The exchanges at the Bank Clearing Hoass this
ing s2l 100 66, and the balances 81 o.
The following comparative statement OF the exports,
exclusive Of SPECIE from New York for foreign ports for
the week and since January L.
Total for the week. ssSi52s 1,25soes l,lsa7so
Previously reported. 81 400 II 655 3o4 177641l2
Since Jan. /. $40 22s .ss2 1901 1897 1s,o4ss72
We read in tho Philadelphia Buuetin:--
The weekly statement OF the aaoipha banks, made
up tails afternoon presents the following aggregate
compared with those Of the previous week
Loans ......... 2s,1os,l0e 27,sl7.9ls Dec .2oolss
S Due from 9th banks SScssi Dec
Due To other banks. 4,519,l48 4429,457 Doc. 796S9
Deposits; lsssssf Dec y, Ss Ss2
This weeks statement shows that banks have begun
10 contract after pretty long course Of expansion There
ton and deposits.
By reference to advertisement elsewhere IL will be
that the interest various bonds OF the Harlem
Railroad will be paid at the Office and after May
We have been requested to recommend the holders
Of the isabella Cuaway and the Potomac stocks not to
dispose Of them at present. explorations now In pro-
gress said to afford evidences Of very material i'm
provement. m
The leading question in the railroad ahare market at
sent s-how long the pending competition between the
four trunk lines to the West carried onS Aweek ago
referred at length to the subject and took COCA
zion to say that and sound regard for
the interest Of shareholders suffered to control the
action of tho companies, the pending competition would
last week. That anticipation has not been realized
II be borne in mind that there two DISTINCT
nvoved between the Erie and Central passenger
fares ana reghts TO Buffalo, the other between the Gen.
trial and the Southern roads, freghs between the
and cities Of Buffalo. The Central managers
rived In town early last week, and sought conference
with the directors Of the Erie committee appointed
to the and consultations held for several sue
cessive days. The Erie committee bad no difficulty in agrcc
ing upon basis Of negotiation with regard to the local
questions between the Erie and the Central; both
parties agreed to raise the tolls cattle and
passenger fares. But the other question was
left untouched Central having proposition to make,
and the Southern roads having representative present
receive one. In consequence, when the conditional
agreement made by the Erie committee was referred 70
Board for ratification IL rejected, the ground
that SO long the pending hght between the New York
Central and the Southern roads lasts the Erie must lose
money like the Others and that until that question be
adjusted ID not worth while to deal with other points,
These are grounds which the decision of the Eric
refer to the personal pecuniary influences which
reported the street to have had their weight with par
| tcuar directors.
As the stands, therefore, the fight must 60 on
until either the New York the Southern lines recede
the New York Central has broadly stated its intention
Of carrying freight from New York TO points west
of Buffalo for little money the like freight
We carried to the points from Philadelphia
md Baltimore, notwithstanding the difference Of dis
'ance. The ground which the Central people
assert their ability TO carry freight cheaper-for il
amounts to this-than the Pennsylvania and the Balti
Ohio is said TO be their conviction that the Gen.
raj better built and has less grades than either Of these
Dads, and that ii can be worked cheaply. 1t
tadiy be understood that these propositions which
he Southern roads far from admitting hence the
Thus far the Southern roads have steadily reduced
heir rates as fast New York roads have reduced
heirs and from all learn they have no intention
Of retracng their steps until the Central retraces hers
1t is not easy state Of things better calcu
aed than this encourage the bear obbers keep
Give the feeling of srust which it is the interest Of all at
this juncture dspe. II the leading lines of the
Try the greatest Of railroad enterprises which have
cost the most money and are managed by the wiseet
Leads, quarrelling like schooboys, and playing
GENE of bluff with each other, at the cost of their share
oders what hopes be entertained Of less prominent
and lees favored roadsp
The tendency Of the public mind at the present time
be toward revival Of confidence railroads, as in every
thipg else. is well known by all who take any interest
ia the subject that the crisis which killed large num-
Der of nsovent enterprises and forced others into tho
Lands of their creditors, operated to compel the
cs of the really substantial companies 70 rerench,
form and remodel their administration. To such
tent has this work Of economy and Improvement been
carried on that many Of the Western roads tho work.