The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-11-15

vance; ii il announced that a h,vidend Oh nve
per cent win be declared on the 2lNt-this day
week. At the second board to-day tie bears
took advantage Of the pause in the move. nent
to offer their options with freedom. Hence the
speculative shares generally fell OFF q "a per
cent. At the cloae the following were the quota
Constituted States SIS, registered. 1881, 94l%
%; do 6's, coupon, 1881, a5 95h; do. So, 1874,
s5s4 sc; Indiana 5s, rs; Virginia G's, As ~.
Tennessee 6's. 45 45H North Carolina 6's, coz
81; Missouri 6's, 45l 455S; Pacific Mai, oGA
o.; New York Central so94 a 500; Erie, 81
341G do. preferred, Go4 a coz; Hudson River, 4os
4034; Harlem. 1879 l37x; do preferred, 34@S a
3476 Reading 81 a 1914; Michigan Central, 53I a
5s1s Michigan Southern and Northern Indiana,
1879 la7s; DO. guaranteed, 4oN Al; Panama,
40 III; Illinois Central, GiH sA24; Gaiena and
Chicago, 72A 70; Cleveland aud Toledo, 371s
37a4 Chicago and Rock Island, 5Ca4 5GTs; Chi
cago, Burlington and Quincy, 65 a 65A; Delaware,
Lackawana and Western, a 20; Milwaukee and
Prairie du Chen, 2224 %; Illinois Central bonds,
rs, SO $50.
The article published in Mondays HERALD on
the funding Of the Erie scrip has given rise to
good deal of discussion among holders Of the
shares. Holders OF the preferred naturally desire
to see the arrangement contaminated; some Of the
common shareholders seem to think that matters
had better remain as they are, and that the scrip
ought to be paid OFF ont Of the earnings. 1t does
not matter o great deal which opinion prevails.
BY lst OF January the total amount Of scrip adoat
will not exceed 5000 600, and by 1st Of May the
whole may be wiped out. After that date there
will be no impeachment whatever in the way of the
regular payment OF seven per cent annually on
tho preferred stock. The only question for the
shareholders to decide il whether ii would not be to
their advantage to place their property on a sound
business footing in January, instead Of waiting till
May The interest of the common shareholders is,
in effect, the interest of the preferred shareholl-
ers; the sooner the latter get their per cent
rcgulary the sooner will there be something to
divide among the holders Of the common stock.
With judicious management both classes ought to
receive income on their property in 1862
The business Of the ub-Ireasury was as follows
to-day
<For customs ......................'..." $4,000 90
For Treasury notes III 6o2 90
Balance. ,434 SCI SO
The exchanges at the Bank Clearing House
this morning were $50 756 500 60, and the balances
$1,198, s58 IS.
The directors of the Pacific Mail Steamship Com
pany, elected at the annual meeting yesterday,
we're William *. Aspinwa, Charles A. Davis,
Francis Skiddy, Samuel w. Comstock, Frederick
H. Wolcott, Howard Potter, Henry Chauncey,
Daniel B. Allen, Allan McLane. The only change
from the board of last year is the substitution Of
Mr.. Chauncey for Mr.. Scutter, who is absent from
the city.
IF ID
adopted memorial to the Canal Board at Albany,
urging the Importance of keeping the canals open
to the latest day.
At meeting of the Board of Canal Commissions
ers, held November IL, at Albany, resolution, OF
which the following is copy, was adopted
Resolved That the cation Of the this State
for the present be continued 10 the latest possible
period with reasonable effort, and that this end the
several Canal nporirtendcnts required see that
the several repair contractors their respective sec
tons have prepared for use MI necessary ice breakers
and other tools and implements t. aid navigation shall
be directed by the Commissioners III charge.
The Chicago Times Of Tuesday thus notices the
money and exchange market of that city,
The week opens with fair degree of activity in the
money market There calls for money from pro
and prov dealers to whom advances made the
customary interest whore the security salts
factory. There also applications from government
contractors who have already had good to complain
OF tho ardy movements ef the ten in cforrnp so
long the payment of past debts contracted in this city
| and State. The amount dye this State from the
government is 1000 oc0 The exchange market
without any features since Saturday. There is an
upward tendency in rates, but the prospect OF large
amount of paper being paid out within tho
course of days will tend to keep the prices down.
To-day the banks checking at Il Il per cent pre-
mnmn being the rate TO reguar customers, and q to
! outside customers Gold was selling at "a a q q per
] cent
The st. Louis Democrat, of Monday, remarks =
The money market has beeH quiet the ruling RAJ es
Of exchange were per cent buying, and Icr pre-
MUM selling, for Missouri current paper. The demand
Tor exchange has been very light and the supply quite
adequate There was a sufficient amount Of dsburse-
mcnts government account to keep the market slr-
piled with exchange and the rates though still one or two
days have been Uniform. There has been m demand
for gold and prices have ranged from per cent Tor
Missouri money The claims Of the banks OF this citv
against the COVE nnsnt being overhauel by tn.
claim committee and as they all thought re,i-
lar they will probably be allowed and paid within the
next week This will hold out tho exchange market and
| probably lower the rates.
| The Milwaukee Sentinel of the same day says:-
As indicated ii last issue, last week closed upon
rather stringent money market and without much pros
pcct i'm Mediate Improvement. Exchange was firm
the rate per cent premium, but the banks
of Issue eleeming in exchange that rate the
trouble not much from this from ali n
adequate supply of money to meet the want of produce
operators Since the usual advanc on produce shipments
ceased banks have had 10 carry large
bills and until this paper begins TO mature close money
market is inevitable The result Of this state OF the money
market considerable depreciation prices of produce
as the supply very much exceeds tho present ability Of
our banks furnish the to handle, and the ocsa
sion it to furnishes good opportunity FOR pro
| dtabic investment Of Eastern capital.
And the Cincinnati GazeHe:-
The exchange business heavy to-day, particularly
Monday, and the tone OF tho market irIler
The demand largely from the city. Fer money the
inquiry limited and the market remains quite easy
The securities of the following banks of Illinois
have been sold by the State Auditor, and he is re-.
deeming their circulating notes at the rate per
| cent annexed to each:-
| Atisana Bank 55k Farmers and Traders SO
| American Exchange. 81 Frontier. ............ So
| Bank OF Aurora SO Garden State. ........ 65 Il
! Bank of Benton 81 Grand Prairie. SIS
| Bank Of Carm. .... 54k GRANVILLE ........... 81
| Bank Of Chester .... 54lS Happaen. .......... So
| Bank Commonwealth. So Humboldt. ........... So
Bank OF Egin. GO Jersey County. So J.
| Bank Of Niperviilc... "a Kaskaskia G.
Bank of Pike county. 63 Lafayette. ........... 81
! Bank OF Qnincy..... go Lancaster. ........ So
Rank OF Raleigh. 81 Merchants & Drovers' 81
|