The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-26


for the week and since January =
Previously reported. bSels,sli 4o,5i5,s2o 5sb377la
Since January L.. $b7 $685. 32 5o77a2oo bs,7s53i7
Though less than the export of tho corresponding
weeks Of tho two last years, the above is not IN
satisfactory om exports win probably increase
we shall presently be shipping both breadstufs and pro
visions pretty freely to Europe During the preceding
week the export Of Hour England only about 900
barrels besides $3.50 bushels Of wheat we the
West Indies, British North America and China, about
5000 barrels of -four The export smaller than
usual The of speculation in both breadstus and
cotton not calculated to encourage prudent merchants
to ship eher the the other at present prices
Europe, in the hope of making profit
The money market does vary mach though on call
five per cent is now quite the rule, and borrowers
say they get loans at Az. At the discount houses
the range OF paper which be sold at 5 is steadily
widening The private capitalists complain bitterly of the
poor prospect before them for using their money
Foreign exchange is rather strongsr quote sterling
60 day bills ll0A Of the leading houses asking
the higher figure The demand for francs also is fairly
active at 10 for short sight Tomorrows steamer will
probably take out million and half three quarters
in specic the amount secured the ships Office four
O'Clock this afternoon was 81, 400 600 On Saturday
again, there Is prospect of large shipment.
The stock market continues exhibit the charac-
teriscs; there outside business and inside spe
cration Of any consequence prices to-day took lurch
downward Central opened at 500, sold down to
794 between the boards, and closed at 797s
bid Galena opened at 73 sold down to and closed
at 70 bid The third week in October shows an increase
OF s7,794 Rock Island sold low as 62A closing
that bid Michigan Southern guaranteed offered for
sale at ls the strength Of the companys appeal for
delay the November interest Michigan Central was
pretty steady Pacific Mail improved one per cent chief
ly, it is supposed, the strength of tho Bacs quick
trip In State stocks and good railroad bonds there Is no
particular change; prices generally steady Tennes
sees are "a per cent higher. In the afternoon the
ket was dull and stocks closed weak the following quo
tations-Mssouris, s47s IS; Canton, 171 49, Cum
berland Coal IA 49, Pacific Mail, 1874 ~ New York
Central, 79,s SO; Erie, Ga III Hudson River IS Y
SO; Harlem, 91s TO- do. preferred, 50 a \; Reading
s71s X; Michigan Central, sea a Michigan Southern
AZ B; do guaranteed, 15ia is Panama. 123lz l24;
Illinois Central, 644 a ~ Galena and Chicago, 70 "a
Cleveland and Toledo, l7is IS; Chicago and Rock
Island, 62i u.
The following card has been issued by the Michigan
Southern directors
MICHIGAN SOUTHERN AND NORTHERN INDIANA RR Co
TRg.suRER's OFr1Cg, NEw YORK, Oct. %, 1859
To THE BoNpHoIDERs MICHIGAN SOUTHERN AND
NORTHERN INDIANA RAILROAD COMPANY
The Directors OF the Company are compelled to post
pone the payment Of the interest to fall the LIST Of
November next upon the bonds of the LIST mortgage of
the Michigan Southern Railroad Company and upon the
sinking fund, and I'd general tgage bonds
ceedng sixty TO ninety days from that date The Urea
will be made.
The embarrassments of the company have been tenn
porarily accumulated by serious accident upon the
road, and the dissatisfaction Of the employees and their
consequent proceedings, which have required the pay
ment Of large for their back wages determined
the officers OF the company to bring the pay rolls
thereafter to pay them punctu ally due. This and the
pay men OF supply bills added to the falling of Of bust
ness the past season in common with all Western roads,
has absorbed aud will absorb, the earnings Of the COM
pany to such extent not TO leave sufficient for
paving the interest on the Is, Of November next.
The Directors, however, feel confident that they shall
be able 10 pay the said interest the above deferred
times for payment and they that the holders Of the
bonds will be satisfied that in this proceeding they con
suit the best interests Of all concerned will readily
consent TO the same. BY order Of the Board.
GEo. BLISS, President.
The directors had 10 choose between this course and
borrowing money, and pledgng collateral security an
enormous amount of land they have preferred beg
delay and the general impression that they have done
right 1t not little disgraceul the directors of this
company that so fine property this railroad should
have got into such straits. That the company will come
cut right last and that finances will be restored 10
order without any foreclosure there seems little reason
TO doubt; in the meantime it would be instructive and
euybE 10 ascertain what share the directors or the
pany have had breaking down the market value of its
stock and destroying its credit for the sake of their own
gambling operations If correctly informed and
think are the operations Of several directors of
the Michigan Southern have been akin in character and
not less criminal than those which, three years ago. led
TO the sentence of several directors OF the Napoleon
Docks at Paris TO five years imprisonment the gaeys.
The Erie Railroad Company have sent circulars their
stockholders and bondholders enclosing which
they desire them TO sign and return 10 the company
We have already given the terms of the contract The
latest day which it be accepted is LIST Of January
If any still hold out after that date we presume
that the mortgages will be foreclosed and the property
sod.
Messrs William T. Coleman Co. received by the Bal
tic the necessary funds for meeting the San
Francisco bonds due November l.
The business Of the SubTreasury to-day was as fol
lows -
--IoT ShrtoHio.. 4a,VO w
Iotai pay menus 59,644 10
oaidhcc a,IUl All 9o
Another monster gold brick arrived the Baltic, and
may be seen at B. Berends, of Wall street and
Broadway 1t weighs ,251 ounces is 9l5 lne and is
worth $42 581 Il 1t is beautifully made.
following latest If oht nro