The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-11-04

at high rates. but at that time It was reported az
easier to obtain but at no concessions In rates.
notwithstanding this slrngency governments opened
steady al late quotations OF yesterday ana with mod
crate fluctuations advanced up 10 latest call Il Z
PEI cent Operators here are anxious to anticipate
the result or the general elections being held to-day
| aud have been as free buyers circumstances
would permit. Since the lst OF October about
three per cent certificates have been can
eelled, aud in order to provide against the evils
attending continuance oil such redeniptions meet
ing oil The Clearing House is called 10 consider q
proposition TO receive these certificates through the
exchanges In lieu OF greenbacAs. II Is thought that
the banks generally Will assent 10 IT, 1t indeed too
lrue that we have been and are still in the midst OF
great uncertainties and many dangers arising out
OF this condition OF monetary affairs, and tie pubic
share IN unpleasant apprehensions as to the future.
The circular OF another private banking house thus
refers TO The days business
The excessive rates paid for money have now be-
come the rule instead OF the exception and the hold
es OF government bonds are subjected 10 almost the
same heavy tax as others The discrimination In their
favor as to-rate, which usually obtains In easy
money market, having very nearly disappeared IN
DER The great competition necessary TO procure loans
upon any kind OF good securities; at the same time
Erie and ether unacceptable collateras can only be
piae@ VITA TIE greatest difficulty, the majority or
lenders refusing to receive them at oil, no matter
what margin may be offered. Threesiyteenths and
quarter per cent paid in addition 10 interest
to-day IN many instances and an eighth commission
appeared TO he the prevailing street rate. Prices
stall hold up wonderfully holders OF securities as yet
natural 70 suppose that many would have tired ere
ths OF the daily wosrment and tax TO which they are
is 10 be reported. The business has been fair, the
stringency OF money somewhat limiting the pur-
chases oy exporters. Foreign gold has been IN con-
siderable demand. The shipments by the CHINA TO-
morrow and those by the last steamers have cleared
the counters OF the dealers IN such coin, and the
greater steadness Of domestic gold Is ascribed to
these shipments
The Erie Hallway says the Stakeholder, is at pre-
sent connected with branch road from Gray Court;
but It Is proposed TO build new road from Ramapo,
which will reduce the distance thirteen miles from
New York city to Ncwburg. Furthermore new
road is TO be built from Newburg to Kingston, which
VIII give the Erie Company valuable connections
with the middle and northern part OF the State OF
New York.
The Union Pacific Railroad is completed 900 miles
west from Omaha leaving 1876 miles to Salt Lake
City. The road is graded nearly all the distance and
she iron for the track is all shipped. It Is expected
that the road will be completed to Salt Lake this
year..
The City Council OF st. Paul have granted 100000
twenty years SIX per cent bonds to the Chicago and
st. Paul Railroad, condition that the cars will be
running to Tasting by November, 1869; and also
$780, 900 to the Minnesota Valley Railroad to en- able
the latter company TO bridge the Mississippi at this
CITY, and establish their depot the ST. Paul side Of
the river. These appropriations will be submitted to
the voters of the city for their ratification in April.
Raleigh IN. o. journal says:-
about to go into bankruptcy. II this be so, and the
purpose Of the managers Of this venerable concern
be consummated the State Of North Carolina will
lose s5oOOe OF its literary fund and the University
sl25 o0e We understand also that there are other
funds the property OF widows orphans and chari-
ties, which will also be lost. This bank was, at the
close Of the war In better condition than any other
In the state and now II is In the worst condition.
Mr.. George w. Mordecai, OF this city has been and
is, the President OF this bank, but whether its
present condition Is to be attributed solely TO his ju
di :ious financial management we are not aware.
The earnings Of tho Michigan Southern Railway
Company in the fourth week in october were
slss,ees against $1ss,4lO for the same week last
year. and for the month Of October $532 against
S539, 4s5 So for the same month last year.
Tie highest and lowest prices Of the principal
railway, miscellaneous and State stocks in the
years 1855, 1899 and 1857 respectively, were sub
ininad.-