The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-02-24
FINANCIAL AND CONNER ClAL.


Money continues 10 be easier Some Of the most
servatve banks refusing TO lend under seven or six
per cent lowest but speculative institutions are
parting with money 1t ave. In the street loans have
been made at four and four and q half SOME OF the
brokers paying OIL loans at Ave. 10 borrow At lower
rate In TIE discount market do not hear that any
paper going less than six though transactions are doubt
less taking place privately below that rate very goo"
endorsed paper four months is being done from Blk 70
seven. Both banks and brokers continue TO complain
Of the want Of paper and tho light demand ior money
among the brokers' Notwithstanding the revival OF busi-
ness very little paper making Many Of the purchasers
OF oregn imports able TO pay cash ana DISPENSE WIN
bank accommodation altogether In Wall street II Is
quite difficult find broker who is large borrower
The bulls Within board operating so prudenuy az
10 need very little money; and there is no outside oa
ness 10 create demand for loans
The foreign adyices generally construed uh'a'o"
.y IN Wall street The best view OF the siualon se"o
ry admitted to be that which presented by the aeoae
!. Tie British Parliament, given in ms morning A'
AID the general opinion appelrs TO be that hau war ho'
Aan Actually imminent stronger assurances OF Inc mani
erance of peace would been given by the members
f The British Parliament Whether, rs the LONDON Times
IL the British statesmen seem to take Tor granteo al
"a. ian war necessarily prove general European
ssy is question which, ookerson from this distance,
az pears to adm, OF controversy Certainly no nation need
u driven against ts will into supporting AUSTRIA anu
sl,hout support from abroad it is evident that Austria
xad not maintain her Italian provinces against SARDINIA
md France There was an Italian in lSiS, but 1t did
Nat spread Ia a commercial point of view, contest ce
tween Sardinia and Austria for the control OF Lom
b.,av would not be worth consideration; though, If
t,mbardy became independent, it Is reasonable 70
s.ppose that hereafter it would be larger consumer,
a larger producer and a more valuable member OF
The family OF nations than ii has been The prevailing
aiarm in Europe, however, seems TO depend upon the
belief that the first gun fired in Lombardy will be the
signal for general con1agra;on, in which the Emperor
OF The French will perhaps endeavor TO realize his unces
dream of European empire. This notion is thus far I'M
supported by evidence.
At the stock market this morning the suggishness
which has been the characteristic Of that exchange for
nearly year was again quite conspicuous The
whole transactions of the day large the
business Of single leading house used TO be in prosperous
lines The only stocks which present attract any at
.en,ion are few of the Western shares which present
some prospect of recovery-such as Michigan Southern
guaranteed Rock Island and Gaepa The reports Of the
earnings of these roads for the current month show thus
ar considerable Improvement as compared with Feb
ruy 1865, and there reason TO believe that az the
spring advances they will do still better We hope
that the Rock Island will not follow the example
OF dhe Gaena, in declaring dividend this
sprng. Two three per cent on the stock is
h:tle enough surplus for such road as this to
keep on hand in order to be prepared for
accidents, while two per cent dividend is no object to
bulk of the shareholders. With care, economy and
honest management this road may fairly expect TO re-
sumo its position dividend paying concern; but If, al
Ter the meager show the pas. winter it pays its
collar TO make small dividend, it may be compelled
10 create floating debt the end of which fore
q De
business did The road is said TO be in admira-
bic order ana worked with great economy. There yet
remains We believe, some debt unfunded and hence,
when the directors last met here they did not deem 1t
advisable TO declare scrip dividend on the prefer
red stock. But hear that the committee, which was
instructed to examine and report upon the matter, will
shortly meet and state their views. In few months
twenty per will be due by the company 70 the hold
srs the guaranteed stock. II must be paid Efforts VIII
doubtless be made by holders of the common stock TO
show hat when no profit earned by the
tie ten per per cannot be claimed by the hold
er OF the new stock ey will learn however by reference
70 legal authority that this view is Incorrect and that
whether the company dollar or million, 1t is
Jus, as clearly bound pay ten per cent per annum to
holders of the guaranteed stock to pay the interest
oe ts bonds There is difference Of opinion among
lawyers the point As soon therefore, az the remain
ing balance Of floating debt disposed Of and as soon
A. Trade reviyes in the west-say this summer-the hold
srs the guaranteed will expect and will obtain at least
portion Of the twenty per cent that Will then be due
he balance beng placed TO their credit to be paid out Of
the first unappropriated moneys. The whole anguai pay
snI for interest this stock is only oOo0 the pro
eerty will undoubtedly be able 10 pay this, besides the
interest it's bonds whenever business revives Read
ing vas heavy to- day. seems tina; the Phiadelphani
sgre not as successful as usual their last operation
IT,, and a.. Y
Tue deliveries in Central were made with perfect
e.se and the stock sold this morning at
decline of q a per cent Hudson River vas
rather better. The coal stocks were steady, without
change OF price AT the second board nothing OF conse
auence DONE and the only change worth noticing was
decline Of per cent in Pacific Mail The movements il
This stock sudden ana mercura that nc one sur
prsed al rise or decline which 10 other woulC
lfgue some occurrence OF moment The closing prices
re day were--Assouri Gs, SIX q Canton, 20 =
Cumberland, % q Pachc Mail, 70 ~ New York Cen
trail, 7s% X Erie, l27S H. IIlison River, s2A Il
HArlem 13A "a do. preferred, 3o4 x; Reading, 81
4; Michigan Central 50 a Z; Michigan Southern, 173s
rs; DO guaranteed, 45A y; Panama, 151l e; Hi
ao.s Central GsI 60; Galena, 69i< az Cleveland add
Toledo, sOK IL Rock Island 6l3S "a Milwaukee and
Mssissippi, ~ l3; Ia Crosse and Milwaukee, q.
Tue following the business Of the Sub Treasury To-
.saY-
r,tal receipts ...................... 1922 632 :.
--For customs ACKNOWLEDGEMENTS. 40 900 o.
payments ......,,,........... 500 32 s.
Balance ACKNOWLEDGEMENTS. 7lo4,3O5 z
The exchanges the Bank Clearing House this nornn
we're SIS 29l O4S S. and the balances 81 225,s4 26
The following is a comparative statement of the Phila
aelpba banks
Feb II. Ftb 7.
csci,sl stock s1l sso245 II $50 AGO Inc. s21
Tosns 20 5273 800 26524lls Inc. A. II
-r.r,s - 3 oU 5fl COZ .668 Inc. 20 u
Tue rom banks l.bl5o0A l445l54 Dec. 1851
Iue 70 baDks 1895 eC3 1904 900 Inc. .269 90
Iepoeis ....... 1884 0ST 16129,GlO Dec. .25l AZ
Cifcusuou...... 26O4,032 2,7s2,792 Dec. n "a
The meeting the presidents Of the four great railroads
70 wi.the Central Erie PennsJ lyania AMI the Batmor
and Onotocs place. as agreed upon, this morning. an
organized by the appointment Of Mr. Moran, Of tn
Erie as Chairman and lfr Barlow the umpire as score
;sry Br Sloan OF the Hudson River Railroad appeare