The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-04-02
FINANCIAL AND COMMERCIAL


FRIDAY, April 10 +. NJ |
ne future Of the West and In great measure Of the
vAse North this year, will depend upon the oreaossow
,v this fall II that be abundant, the traces OF the re-
En- Win soon disappear, and the old uamc OF the w
.,rn,rv v,p he restored In day or two we setern
Aa.vor in another column 70 present prett enan en-
- the corn and wheat prospect TO date. II 7a psure
ve notice that nearly all the Western -0e meantime
ysby of the prospect. From India Apers speak iavo
.srer reports that he prospects a, the Evansville IN
Frightening every day; some on inc growing crop arc
ven inches In height" while 1eos ere aTeady Blk W BE-
that the prospect Of ar AVG No'e 0ouhs "ess'e'
out that region Of souhaan' wheat crop 'hfous"
".~-s. .ho a Journal states that several farmers
.ro,s - editor has conversed agree that hand
- Ay be expected at the coming harvest" If
AT happens They say that the wheat
had rapid and vigorous growth" The
'H'. papers speak generally in the same sense;
F<eir wheat Is growing fast and the proportion OF
winter wheat killed Is much less than was at first anc
yssed In Michigan the Niles Inquirer says that IN tha'
section OF country "he wheat could hardly look nner
than does while the Ypsiant Stntaet ana otner couh
try papers simply that the crop promises wei FROM
Iowa and Wisconsin hear that much larger area has
been Gown with wheat than generally expected On
the whole--though would be premature yet to ex.
press anything like confident opinion to the fuureit
may said that the crop prospect Of the West good,
and that Western men much encouraged and quite
hopeful.
Want of space compelled omit the manifesto of the
New York roads, which was published in Of the
journals this morning The point Of 1t simply that the
October Convention worked TO the advantage of the South
roads and to the injury of the roads in this State for
which reason was abolished We stated much in this
column three months ago. The effect Of that con-
vsntion was TO drive trade from New York 10
nd Ralt he
repeal will be to restore trade to it's natural channel The
work has already begun by reduction Of the freight
tolls on the Central 1t is argued by many that the
consequence Of renewed competition must necessarily be
fatal roads, This need not be if the managers OF
the New York roads combine and act with common pru
dence They need not fear that the Pennsylvania and
Baltimore and Ohio will carry freight or passengers at
in order to njure their rivals The stockholders in
those roads are far too about their profits TO
do anything suicidal; and what with the natural ad
vanages New York the ouly seaport to which Euro
pean steamships ply the hand, and the excessive
grades on the Pennsylvania and the Baltimore and Ohio
on the other the New York roads must win the If
they will refrain from cutting their throats But
there should be understanding between the Central
and the Erie. II need not be such a convention as
that of last October, which dcsarrcd the parties
from employing posting bills, &c,
&c, all of which means of attracting business
are legitimate and proper. simple under
standing that neither freight passengers to be
carried loss by either road will every pur
pose This understood each road should be left free to
fast peases when it pleases, and as pleases
and use any lawful means of gaining business Hsuch
understanding this be to, the merchants of
New York sagacous enough to afford the two New
York ali the support that they grant, and in the
revival Of business both companies may fairly expect to
do as the past. Bat will be vain for either to
appeal TO the public long ii is striving to kill the
other.
The stock market evnced steadness to day. The
business in government and State stocks continues
large prices fully maintained In railroad bonds
we notice Of per cent in Michigan Southern
bonds Illinois Certrals sold SO interest New York
Central was severely hammered the strength OF the
newal OF competition. 1t gained strength, however,
during the morning board Among the Western stocks
Rock Island the most active. The daily earnings,
reported with less accuracy in the Chicago pa
pers show to advantage and the bears hope
he stock sell at ty The price did not vary throughout
the day. The other Western stocks pretty steady
yesterdays figures In the afternoon stocks
actve several commission brokers report that they
ceved outside during the day The market cosed
steady the folio wing being the last prices
Mssours, s67S 81; Canton, 1917 20; Cumberland
Coal 22& 23A Pacific Mail, 7914 u; New York Gen.
ira, 7ea ri Erie, 10 a Hudson RIVER, SO u; Har-
lem, Tx - Reading, 5o1s Z; Michigan Central 500
q ~ Michigan Southern, 1875 a. Southern, guaran-
seed 39A u; Panama, l17h lis; Illinois Central,
s7A u; Gaena and Chicago, 66zs 67 Cleveland and
Toledo Is IA Chicago and Rock Island 554 So.
The business Of the Sub Treasury was follows to-
day
Total receipts 1904 ,645 Y
For custous OBSERVATION-DISCLOSURES. 29S 900 90
Ietli pay ztuisot
fvtsb %
The exchanges at the Bank Clearing House this
morning amounted to $40 6 1895 &c. and the balances to
ss7l sac q.
The Board Of Directors of the Shoe and Leather Bank
have declared annual dividend OF four per cent,
payable on the 18th.