, 1873-03-15
MONEY and COMMERCE,
MONETARY,
FntpAr EVENING, March Il

ENIUhf NFGAlNUs Mn1c4 A4s
In local 1nanocs and business affairs thero arc
no special points Of interest to-day. In general
terms, 1t may DO said that notwithstanding somo
ambiguous talk abd,1t merchants IN thlH city
bong, In sorno caaoa, unhb}o to moot their on:
,Ksgomonts, tho financial condition OF tho North
wost VAS novor hottor than 1t Ia now. That
thoro arc. some merchants now doing buHincsa ut
ratio Of oipcnse which their trado does not
Justify and which thoy cannot continue, is truo,
but this in always tho case, aud il truo to no
greatcr extent now than 1t always Is In this
aud ovory other city whore competition
Is active. Tho fact IL, that Is far
aBstho mercantile community at large Ia con-
ccruod, tho loss in our great fro foil moro heavi-
ly On Eastorn capital than II did on homo oapi-
tai, and the loss. to homo capital haa already
been largely made up by tho profits Of tho past
Bi1 months.
Money is in fair supply yet. Tho grcAt In
creaRo Of deposits noted In our article Of yoster-
day has, however, been temporarily absorbed to
large o1tont in carrying glain aud rs It Ia rea-
Sensible to expect falling OF In the shipmcnta
ofsal kinds Of products between now and tho
opening Of navigation, 1t is probable
that the tendency Of the market will
be toward strlngonoy during the next
four or hyo weoks. Tho Naturalization OF this IL
the turn in exchange tn favor OF New York DUR
hogs. cattle, and provisions to tho East during
January and February made a large balance In
our favor and kopt Now York exchange At about
75o per 81 900 discount, showing that money was
verse. New York exchanges ia firm at par to 25o
per 81 900 premiun and Il is probable that dur
lug the ncxt wook or two tho currency will begin
to flow back to New York.
THE PENNSYLVANIA RAILROAD.
Tho annual meeting Of that monRtet corpora
tton, the Pennsylvania Railroad Company, took
place in Philadelphia on tho 11th inst. The mn
tive to tho financial results Of tho principle Of or
tending humorous branches as feeders to the
1nain line, and shows that, whflo they may be
barely self-Bustaining aa far as themselves arc
concerned, thoy add largely to tho prolts Of the
tnain limo:
Tho carningn Of the main line and branches IN Penn
agatas: sas in lei the tnerssse a.,
tss' ss earning: s:sas
FL sssasn lns. 4 AS n'ss s5ox = tsste.:s q
Se ain M ns i to b. he ehisf re se
10 doubt materially BY thu branch tributaries which
y @ o IT, t. ee nu%sr Of
On 1s7i Of b5o, ,1os. Tho increase In freight moved is
abous lok per cent ut an incrcase IN charge Of ttle
of opsfsnF to road nalusns sssneh lag % az
cent receipts excluding branch nuea 6801 per cent
The revenues OF all the lines OF the Company In 1872
betwcon Pittsburgh and Jersey City $s8 G88 5o3
md the expenses $25 431 023. Net pEp6s, $l1
40; md ovor and abovo interest md divi-
lsnds,t 81. sos, ,&2a. This ba1anco represents tho
net results Of tho sevora lines Of railway IN Ponnsy
vanin and NoH Icr1oy for the 1879 land showa
immense property OF great Tnlue Tho Company has
nlsu largs amount Of property at present Mnprodun
tive. Tho aurpus net profits In 1874 namely, 81 $685.
429, solcent to have paid dividend at 10 per
cent upon additional capital stock Of nearly 81 0G0
Gov. The amount required In 1879 for. addItlonsi
tracks, equipments, etc La estimated At $29 00 O00 TO-
raise which tho Directors propose n distribution Of
33H por cent Of additional atock rnteably among stocK-
holders, the 1st day OF April next, onehalf to bo
paid In betwccn tho1s and 2th Of May, and the se-
1naindero ai1ty dayaf notice.
Tho recent act OF tho Legislature authorizing IN
Of tho capital stock Of tho Company formal
y accepted The present authorized capital Ia $76-
ooo0oo Of hich <54 900 are ssuod. Tho now lstx
authorizes the doubling Of the present capital, aud
may put It to $3.50 with authority for like
amount Of bonded dett making an aggregate Of debt
and capital OF $500 000o Tie meeting yesterday,
however limited tho issue Of htock to 600 co.,
which, added to thu $54 900 900 now tssued will mako
aggregate OF $9 600 ot capital which cannot DO
sxceedsd until the further action Of the stockholders.
The p1eaent mortgage bonab Of thu Company, author
lied to the amount Of $35 000 600, Will be discontinued
1t tho sum Of $20 600 600 whom tho Company will pro-
yido ~ additional general mortgage proposed
bssfs Of $7t, 900 COO, amount sufficient to meat tho
future uecoaAatlos Of the ConpauY.