The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-02-01

qhe receipts include s57 900 from customs and sass
GA on account of loan.
The exchanges at the Bank Clearing House this morning
were s2s seb $40 a. and the balances 81 ,A6o, aSS o.
The Long Island Bank declared dividend Of i've per
cent, payable on demand.
We are pleased TO learn that Messrs Cyrus W. Field h
Co., who suspended during the crisis and obtained an ex
tension their creditors, have been enabled TO antci
pate the maturity their obligations by several months,
and have paid every in full principal and interest
Such credit TO manufacturing community
II may be as well state statements on the
subject have found their way into the papers, that Mr.
Cyrus w. Field sold one and only OF his stock
the Atlantic telegraph during the period when the BELIEF
in ts successful accomplishment universal 10 Is
stl one of the largest shareholders in the company
The following not very integb statement is published
as summary Of the business transacted by the late Kali
road Convention at Washington -
Firs-Free deliveries OF freights in cities, which was
agreed TO be abandoned. acknowledgement OF commits
Ope to express companies by all OF the connexions U tue
Ee road It was agreed that this snouia DC soppeo anu
n continued that road question should be cut OH
from all either Of the four lines Thir-
Agreement the manner Of changing rates 70 AVOID
change py one road without notice to all others Fourt
Agreen form of handblls and advertisements
which future to be submitted 70 and approved Dy
the umpire Barlow. Fh-Change OF rates 30 as 70 meet
The low rates by the Ohio river which have controlled all
the Western and Southwestern Shipments and by means
of which change the Erie Central roads get
share of the business The discussions many Of these
DO nts the most excited character They are to
have another meeting in New York on the go OF FEB
ruary
The following extract from the review Of the Reading
Railroad report which referred the other day, is
well worthy the attentive perusa Of all railroad men,
The original investment Of this road has been swellcd
by additions TO the capital stock and by successive loans
to of nearly S24 600 O00 THIS, the reader OF
course will take TO indicate corresponding increase IN
the business Of the road and complete victory over all
possible competitors for tht business 1t indicates nothing
| Of the Sort
On the contrary, while the investment Of the company
has been thus expsnded the remuneratve OF
and simultaneous fall both in the amount of business
| done and in tine rates at which il is transacted.
50 500 900 on an investment of SIS 900 000 with trans
port business amounting .292 tons Of COAL an in
| crease Of 6e3 ,202 tons on the business OF 1861.
In 1853 the earned net profit of 81 300 900 on
investment Of $24 900, with transport business
amounting to b4s 69 tons OF coal decrease OF
tons business of 1885, and decrease also Of no.
OOO tons on the business of 1851
To causes this extraordinary result to be at
| tributedY
In the four years. 1865 must be comprised it Is true
the twelve months of depression in all sorts Of business
which followed the crisis of 1857 but against this period
OF partial paralysis must be set off the two most enor
mousy active and productive OF the century 1866
and 1861 which the business of such road, pro-
pery conducted ought to have earned enough and more
than enough carry the company TRANQUILITY over the
lu ensuing point of fact, however, the serious re-
duo,ion Of the companys receipts resulting in bank
rurtcy at the fret touch of the panic Of dates back
| by glance at the following table,
1856 50 800 600 1857 81 463 76S
1s56,. ,. 81 944,722 1858. 81 300 900
This tire mendous decrease amounting TO falling of OF
so the of four years Is clearly not TO
be carried to the account of the recent IN the
general busineas of the country We must look elsewhere
for its origin II is well defined and regular not To
arise from steady external agency, pressing upon
some internal weakness the organization of the com
papy Itself. It has the characteristics Of chronic, moi
an acute disorder.
Annexed is the latest statement Of the Bank Of Eng
land
| BANK OF ENGLAND.
An account pursuant TO the act It'll and 9Th Victoria
| so for the week ending Wednesday. JAM IL, 1885,
| DEPARTMENT..
| ~ Other securites.. 3,469, 900
| Gold coin & bul'n. 10 SOL 100