The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-07-23

sD probably be 81 ,oso, making Two Millions export
. ,,a vast a,ou. o. 100 900 exported gnce JAY
, s,a ,no,, s27 900 200 exported snce May 1.
yn .bs,c avu-es before ;ha pubic cannot mistake
tho sorrs res, sacrifices OF foreign goods and mes
,hensa and o,rloi OF Hanger for NE backs,
ee.-v red s rests nos with the half dozen
,poc1u.s sao control the policy Of the New York banE'
leg n,e-e. 20 aeciae whether the fall shall witness much
pdiviosl suffering among importers, genera ''s''e
rss that OF o,tober, 1857. The resr"-soh"y no"
with them ard with the N Alo.s'
Or cote.to'arv to Coxriey and Enquirer, ~ an art
IL, uolspsd th,s morning, concurs with US 70 the dan
erons teaaeoey OF importaous, b. as,roes these
If The TO the foo uess Of individual
meortes or to tae ssive bH AZ EXPANSION of this
prpg--out 10 the effect cI the present tariff
A high protective tariff would, in tho opioon
" our cctemporary, h'.ce obviated tho mischief;
sven no~ he dec ares that nothing short OF
return - the system OF protection will tho country
msc study OF W facts would probably have shaken
our contemporaries faith in this theory. Tho Of
c,esn imports uuripg the last asca Of the old tariff
which, IS &c Si admit was more highly protective than
the tariff Of lS57-Ras the largest known in the
history OF che rouutry; while the ypors of the st year
Of the pew Twhich said 20 be TOO favorable TO the
frregnerwore the smallest have received for years
How hoa be said that the tariff the Of Che
p7eaer. excessive importsY The readers OF the HrsAD
viii vcmcmeer the tables We have go often published
sho~Dg thst our imports have risen reg Ilary with the
growth OF the country have uctuated in exact proper
10 tho aggregate expansion OF bang credit and have
never been in the affected by changes in tee tariffs
The Crvier argues tbss, each 9mporter ignorant
of hu neighbours busayess, they cannot aS q body
be held responsible for extrIvsgant inportations.
TIE Courier VIII again derive advantage from
s:udy OF the facts Every intelligent importer form
a Tery shrewd gross to tho amount Of business which
h,s neighbors Doing II he could not he would be
upft do susnsss. ana would probably fail in q twelve
month Tho commercial tables which occupy go much Of
epace-and which, by The way the Courier al Ways
puhhthes ana sometimes comprehends-are compiled and
published Tor other purpose than 10 instruct each mer
chant OF the general movement Of trade With them be-
fore him, importer pretend to be operating in tue
Dark. Tho fact is that our importers, as general rule
ressihe state Of affairs long ago. but each one trusted
that bic neghbor would curta his orders and tn ought he
wourd have the market to himself These overshrewd
and cunning merchants nov have their reward Our
wsE-s.reet Contemporary had better employ lis space in
drawing the proper moral from the occurrence.
There is no particular change in money today So far
at we hear the banks pursuing SAFE and re-
Easing to lend Money, however, abounds among the pri
vnte bankers and the discount houses and Str
cy yet 'ef fne business IN exchange for to morro~s
has been moderately active unchanged
Sterling bills (bankeis firm at llO4 p for 60 days
and t q for sight. The amount Of specie to cut
in the steamers 10 morrow is estimated at 81 100000
Stocks continue greatly depressed; at the morning
board there was aDotoer heavy fall OF u per cent all
ronnd h the afternoon stocks still lower TIE
cept0ns 10 the market the Reading which advanced
per cent; Mssouris which steady, and or
oher securities which happened 10 be demand There
is DO cause for the continued depression in stocks The
western railway shares, which the heaviest
on the hst, are on the eve Of period Of
recovery the harvest has thug far surpassed
the most sanguine hopes tha. were entertained
Of it, and the grain has been safely got into barn in
many localities far north Chicago In few weeks
the roads cannot but feel its effects whether the mcuey
market here be tight the contrary those roads viii:
are well situated must do large business this fall They
will undertake this business under very advantageous
auspices. Within the past month freights have been
raised nearly all the Western roads; the Michig an
roads, for instance will get per cent more on their
eish,s than they did last fall The trunk lines to the
West are about increasing their freight tariffs also Elk
penses have likewise been curtaied 1t said that thu
New York Central being at less than fifty per cent
OF the earnings for working expenses. Tue Michigan
Central has reduced its expenses $780, 600 month Che
Michigan Southern expenses only about Ss5 oOO
stead of $3.50 formerly Under these circumstances
II would be great folly the part of holders OF rail
stocks to allow themselves to be frightened into scn
them at the present time Present prices are the fruit
period Of unparalleled depression traffic, and
period of Unparalleled bear sway IN Wall street II
not likely that they will last much longer Ia the after
day the market and stocks closed dull
and heavy at tae following quotations -Mssours s33s
"a; Nrginias, 1884 %; Canton, 1915 4; New York
Central, 745s X; Erie, 614 Harlem, 90 10; Harlem
preferred, 351z x; Hudson River, 1914 q. Reading
4414 " Michigan Central, AZ "a Michigan Southern
"a al Michigan Southern preferred 90 Panama ll5L
lie; Illinois Central So x; Galeaa and Chicago ca a
4; Cleveland and Toledo 23A "a; Chicago and Rock
Island, coz ei Pacific Mail, SO 4.
The business Of the Sub Treasury 10 day was as fol
lows
r.or cusIons ~. uoo w
Total pay mens. 33e Sss 46
Balance 100 Is
The exchanges at the Bank Clearing House this morning
were S1s 246 S97 a. and the balances 81 2iT 227 81
The Connecticut River Railroad has dec Jared dividend
of per cent the preferred, and 2 per cent on toe
stock payable let of August next to hoders
record July 20.
The earnings Of the Sandusky, Mansfield and Newar,
Railroad Company for June, 1859, were. $40 40 II
June, 1905 IL lo6 -
Decrease. Observation-Disclosures. $59o 90
The statement OF the Pttsburg banks FOR the week
ing July IS, wa. as follows-
BGnks Circulation Specie. Loans DEPOSIT,
Pttsburg .s2s3,9i6 1868, $50 1,s05 Oils 62g OK
exchange. 0Ol $3.50 229,2s6 15Ji ,9l9 32O25i
Aer. Il Naalfs 2S9,587 l,l55 g2S b62 273 395
Citizens ....... 1910 55,005 5e3OI4 60 Ia.
Mechanics ..... 2i2,o50 1905 7a4I9o 90 Al
ZION City ...... 2Z5 500 iOS ,646 6gl, l49 2Z0,T4a
Allegheny All $40 60,S95 G9O,622 l294!t
-
Iote 81 sos 923 lo62 19l 6,955 o2o 1,13i,5j4
i'e'ous week. e-9'5Zo i,olo,9o6 69H.7s2 Las $50
lncrease. 1895 26,2O5 1898 1855
Stock Exchange.
.,ooor FRIDAY, July o. 1853.
bIeVO os, a. l0lx ECO abs dar Re pf ESQ 35z<
IVY virginia os.... g41s 200 Reading RR. sS as
$50 do oih 1vo do, sl5 AZ
10oo0 North Car 6s.. 95A ECO do 80 *,
1000 Missouri S.. $50 100 do 66o A. e
1900 do. -. .sl5 831s IQo DO b30 III
1000 Tenn Sc, Co.,. SSM zoo do az 1l7S
1000 do........ So go Chi < kk Is RI 81