The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-25


very little outside buying selling; the street opera
tors unusually quiet; prices vary but little. The
only change to day decline Of per cent in South
guaranteed, and of per cent In Michigan Central
and further advance Of II per cent in Panama. Gen.
trail does not vary 4 per cent day. We have seen
letter from Albany denying the generally received re-
port that the freight earnings had fallen Off during the
second week in OCTOBER but all these Albany stories
must be received with caution The fable about
crease Of 500 600 during the FIRST fortnight Of September
came from the very best Albany authority; IL did
little mischief Galena and Rock Island were steady,
with moderate business The sluegishness OF these
stocks shows how slow the public 10 move md how
deeply seated is the general dsrust of railway property
Here roads whose funded debts are compare
lively trihing, which have floating debt,
which, during the worst railroad year ever known,
earned their expenses interest," sinking fund, and ride
toward dividend their stock, and which, at the
present tme traffic increasing at the rate Of q SO per
cent over last year Yet the public show SO little anxiety
70 buy either, that the has declined s. the other
8per cent within few weeks. Hudson River advanced
u per cent This another stock which revival Of spe
culative activity would be likely affect There very
little done in State stocks bonds; but prices hrm.
In the afternoon the market unchanged and stocks
closed dull at the following quotations. Mssouris SAY
SIS; Canton, liz Y; Cumberland Coal, lIt4 1s Pa
cifc Mail, ~ IA New York Central, s02s a; Erie, ga
*; Hudson River 3574 49, Harlem, ga TO- do. pre-
ferred, 1854 81 Reading, 3sa4 &c. Michigan Central
3sA 40; Michigan Southern, All a s. do. guar
antced 141s u; Panama, 124 a; Illinois Central,
661s CT; Galena and Chicago, 1879 q; Cleveland
and Toledo, ls1s q; Chicago and Rock Island 63s H.
The facts developed during the late trial Of Warren Le
land at Colchester Connecticut charges growing
of the dgraccful ia lure Of the Colchester Bank should
receive careful study at the hands Of members of the
Committees Commerce in Congress. 1t delibe-
raely asserted OATH by the cashier Of the Colchester
Bank that the capital OF that bank for the part
made up by fictitious promissory notes and other fraudu
lent securities and that for large proportion Of the
notes Of the bank which were put into circulation here
and elsewhere that institution received consideration
whatever In other words Cashier Jones tells US that the
whole establishment swindle the public bare
faced scandaous swnde by whom perpetrated and for
whose benefit may possibly learn if the trial o!
Warren Leland fixed for the 2lst Of November
comes of.
We have no desire to be hard the parties who had
the misfortune to be mixed up with this very dis
graceful affair; but is not the first transaction
Of the kind which we have had occasion TO no
ce Of late years. and there is only much ground
fear that there other Colchester banks ourshng
stence at the present ne scattering broadcast through
large disbursng establishments lkeshoels bank notes
which utterly valueless hope and trust that the
present opportunity Of getting at the facts will be ne
elected 1t has been Misunderstanding TO our report
erthat no further trials in connection with this affair will
take place in Connecticut We can hardly believe that
the magistracy of that state will allow so scandalous
transaction to be hushed up; as, however, minated
that they and the bank receivers well, can be 'ma-
naged, desire to call the attention Of members OF
Congress TO the subject II further trials take place
and Justice is not indicated the necessity for general