The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-02-26
FINANCIAL AND COMme

a. va. |
~. custom House are 90 scsn'y Is nj The last
sspu ~ Nv usy be induced to mae pro-:.,.. cor
moment Congress ~v<r.s ss--s >fS'
further deficiencies a the Treasury - ge'erany
rood thai Inc msllness Of the receipts from cus""
mainly ,sins 70 the prevalence Of unfavorao'e Who's
.sF ur the arrival Of westward bound ships ana 'nA'
~ weeks hence the entries will be so large ~ s"s
annie employment TO the entire force unoer Tue oo
~ Mr. scheu This view is consistent Win tue nA'u'a
daduct ions from the tone OF the Markets he'e' No'
every kind OF foreign merchandise u handsomely emu
perstng the importer. is, therefore, reasonable " ''
ha. merchants are Continuing 70 import and that Inc
rn.c vbcb appears 70 have taken place in the import
entries at this port within the first fortnight que
.or,e accidental cause STILL should Congress share
the views already expressed in many quarters-vn LAT
the imports for the remainder Of the fiscal year III not
he on the scae foreshadowed by the entries the hst
week in February-t will become their duty 70 make pro-
vision wants Of the treasury by authorizing new
loan The in foreign dry goods Tor ths week
again very large the aggregates being in excess OF
those of the corresponding week OF 1857, and nearly
double those of the corresponding week Of 1885, Inc m
mort entry for the week is 464, making the total
import January SCI o92 sl2, against
1858, and $40, ses, 0s7 in 1857.
There is no movement worth recording IN the money
market The banks continue lend al six of them
higher rate In the street, the current rate continues
70 be AK a 8, with an abundant supply at these
figures and very moderate demand. In the discount
market paper done at about per cent very
good four months paper goes at OK flower quaiies
and longer paper higher rates Exchange on Europe
for the steamer of morrow, s quite quiet. Bankers
are asking l0ex " mercantile bills done at l0s1
Io9A. A few parcels Of specie may 60 out to morrow
The stock exchange this morning shows some sympssns
Of revival OF activity though the commission brokers
continue TO complain OF the want OF business The settle
ent Of the difficulties between the four great railroads,
which was communicated to the public in this mornings
HERALD exercised a favorable effect on the market Cen
trail advanced a per cent in consequence We need
not here repeat our conviction that the compromise
can only be temporary. The true difficulty lies in the
want Of business for the four great roads and whatever
compromises may be adopted whatever restrictions self
imposed whatever letters each road may agree to wear
for the purpose OF helping its rivals along there must
a day when the fundamental principles Of CONNER
eal competition will be asserted and declared to the
knife. Every hour that the compact lasts injury in
niced trade and The Central prevented
by the compact from running swiftly might
and as it ought. The Erie is hndered by the compact
from carrying freight between the seabosrd and the West
it be carried by its Southern rivals. In few
weeks, when the lakes are open, the Southern roads
will find that the effect of the compact Is t. de-
prive them of business, to the injury Of the sec
tion they traverse Every way and everywhere,
the compact works mischief to commerce and
travel The railroad companies state that to break
would cost each Of them 800 coo month. Very likely
But they suppose that they forever avert this loss
which has been produced by building superauous
anticipation Of future trac-by flying in the face OF the
principles OF commercial competition, and by mtctng
injury on travel and trade they will find they mig
taken. The day not far distant when the compact
be broken and the sword unshea.hed Meanwhile the
roads do their best while lasts The reports from the
Western roads continue TO be favorable. The earnings
for the first three weeks Of February the Michigan
Southern said to be $40 900 those for
the corresponding weeks of 1885, the prospect
large payment will be made this account of
the 20 per cent that will be due in August the holders
Of The guaranteed stock The Rock Island the Gaena
both also said TO be doing we'll The stocks Of all these
roads advanced today. Michigan Southern guaranteed
has risen per cent within the past three four days
Cleveland and Toledo has declined about much;
assured however, that the road is in fair condition with
good prospects of extrcaon from its difficulties. Illinois
Central is firm at q shade above yesterdays price
question Of any consequence remains unsettled be-
tween the British and the American proprietors loan
u $3.50 600 has obtained London and twothirds
Of the money paid into the companys treasury the ba
lance will be forthcoming in q few days. 1t ia under
stood that the remainder Of the sum required-about
$3.50 0oo-is being raised in London pledge OF
bonds at five per cent. Mr.. Richard Golden,
who, believe, is the largest shareholder in
the company, arrived in the Canada The stocks
Of roads nearer home steady. Hudson River,
contrary to expectation has not been njurousy affected
by the announceme Of the determination Of its great
sociae the Central to into obedience TO the die
aaes Of the Convention Harlem remains pretty steady
whichever way the contest will be gamer.
Reading was u per cent higher today in consequence,
as usual Of purchases for Philadelphia account Pana
ma advanced Il per cent; Pacific Mail aso x per
cent higher. There truth in the rumors OF com
promise between the Commodore and the Company. We
understand that both parties prefer fighting TO compro
missing at present; when they have bled little, they will
be open 10 conviction and prone harmony. The
Eight will obviously end compromise and the establish
en Of weekly line 10 California The Coal stocks were
steady Cumberland advanced fraction The adoption
many Northern OF coal burning engines s Great
Ing new demand for Cumberland coal There was more
activity in the bond market to day in descriptions
there was quite an advance Nssours sold q higher than
yesterday Erie bonds continue to be depressed Illinois
and other Western bonds firm bonds Of the New
York roads in good demand higher prices The in
curry for Hudson Rivers Of all kinds active The
market closed firm this afternoon the following being
closing prices;-Missour S5 II Canton 20 X: Cum
berland, 24}s q; Pacific Mail, TX IS; New York
Central, 1914 al Erie, l2ss "a Hudson River, 32ss
q; Harlem, 1875 10; Reading, 49Jz q; Michigan
Central, 81 q; Michigan Southern, is "a do do qua
Taneed, 46]s u Panama, 116 "a Illinois Central
~ Galna, 6o2s y; Cleveland and Toledo, 2slia Il
Rock Island, 61a{ q; Milwaukee and Mississippi 1914
a la Crosse and Milwaukee, ~.
The following the business Of the Sub Treasury
day
Total receipts sl43,s45 90
-For customs. Observation-Disclosures. 10000 90
Total payments l34625 81
ava" ""'anoe''' ,O}Io4 a
Inc exchanges al the Bank Clearing House to-day we're
Sl6,s2o,7H 10, and the balances so4i, 761 q.
The following arc late london quotations. of American
securities per Canada
United States skies, bonds, 1865. ......1oo a 1902
~. I've ''..''.. ~ eiX
Alabarna nVes, bODGs. rs
Kentucky sixes ACKNOWLEDGEMENTS. 90 a Oh
Mary land fives bonds. ................ OK a az