MONEY MARKET.
{"newspaper_name": "The New York herald.", "edition": "01", "page": "p3", "byline": ""}
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The tendency Of prices 10 still upwards. Norwich and
Worcester went up 1t per cent Reading Railroad,
Farmers Loan l Long Island It Harlem I; Canton
i. Pennsylvania Hves fell of per cent Kentucky
skies !.


Quotations for foreign exchange are steadily decln
ing. The demand for sterling bills very limited
Prime bills on London quote at 81 81 per cont
MUM on Paris, 5f27t 6f264 Amsterdam, sol sst ;
Hamburg, 354 a5t Bremen, 7st 7st.


The receipts of the Hartford and New Haven Railroad
Company for the month of December in the past two
years, have been az follows


Receipts for Dssss%Ss1 y: 4 !.
Dc. 40 iSio ........ 1850 %
Increase. December, ls45. ............. S5lse 81


This increase is equal to thirtyfv per cent


The address of Gov Briggs of Massachusetts to both
houses Of the Legislature Of that State briefly reviews
the gnances of the Commonwealth The receipts into
the Treasury for the past year amounted to 81
Expenditures for the same period. 550,l9l SO
Excess Of expenditures receipts. $50 $50 81


In the receipts given above, included the balance
in the Treasury the ls of January, ls46 $loe &c.
and the balance of State Of 1884, $62 So which
deducted from the whole receipts leaves $446 26
the ordinary receipts for the year.


The expenditures for the year include the temporary
loan Of 1884, of $s5 oo and the five per cent stock Of
1912 paid in ls45 of $46,550, making the of $751;
$50, which, deducted from the whole expenditures
leaves the ordinary expenditures Of the ear $4ls
GAL The ordinary receipts and expenditures for the
year ls45, wcre therefore, az follows:-


Ordinary receipt; Of isss. ,o; sag ssS %
Excess of ordinary receipts over ordinary


j. expenses, lo9o. $U,7l4 67


To meet the excess of payments of $40, $50 a. the
Treasurer will have the balance Of the State of s45
amounting to se5cOo and though not payable till Feb
ruary, 1916, designed for the service of ls45.
That sum will not only pay the above named balance
but will be nearly sufficient to pay the $751; l4o of the
per cent stock Of is42, which falls due in ls4s.


When the remaining $s74O Of the debt Of ls42 shall
have been paid other debt against the State will fa
due before 1857 At that time the scrip for 1895 ooo
sued by the State in payment of it's stock in the
Western Railroad corporation, will be payable
The sinking fund set apart to meet that debt, now
amounts to $sSs,l4l IS. This sum- with the accruing
annual interest, together with the yearly from
the sales Of the public lands in the State of Maine
which appropriated by law for the purpose with
the annual interest thereon, will amount 1857 with
he present rate Of the receipts from the public lands to
million of dollars.


The State Of Massachusetts, has lent its credit to vari
ous railroad companies the amount Of 555 S.
million and fifty thousand dollars of this for
scrip loaned the Eastern Railroad, the Norwich and
Worcester Railroad. the Andover and Haverhill Rail



will be due in is57s Of the residue falls due before
1868 The payment and fuflment Of the obligations of
the bonds which hesate holds against these several com
panes, secured by mortgages the indebted roads
In addition to the mortgage the Western Railroad,
the State holds in trust fund.- amounting to $780,
6lo 6l and which yearly increasing by aceumulaDg
interest and additions to the principal for the same
pose These railroads in active operation and are
nuay increasng in value and in productvensss There
hundred miles of railroads in Massachusetts
doing successful business costing about $2s O00
The average value of the whole stock above par aid
their average dividends exceed sx per cent per an.
mum.


The receipts sfthe great trunk line running the entire
length ofthe State, and connecting Boston with Albany
in e45 compared with lslA show increase Of more
than ten per cent which places the permanent produc
iveness Of the road beyond contingency This line is
still in s infancy; lateral roads in contemplation
that WILL in tme if constructed increase receipts two
fold and double it, dividends The Massachusetts West
Road must be immensely benefited by any connec-
tion made with this city at any internal point must
by such event. receive large per cent Of the travel
by railroad between this city and Boston.


The union Of the Worcester and Western Railroad
Companies il matter of much doubt The terms pro
posed not considered by the stockholders Of the
Worcester q sufficient inducement. The pre- sdent of
the Worcester road in his report says that to conso-
date the stocks of the two corporations valuation
which that sx shares in the Western road are
equal to Ave in the Boston and Worcester would be
ing great injustice to the stockholders in the latter


pamphlet has been publshed by the Worcester road
to enlghten its stockholders to its and the West
road finances BY this appears the latter has cost
$7,7649os, and its aggregate funds realized $77sI7 1894
The sinking funds the 6rst Of December $4l0-
ST. and its debt Massachusetts sterling bonds fs9e
900, which the president very erroneousy costs at
making 80 999 $685. when in fact should have been put
at 81 80. The corporation owes $os ose, and there s
due to $2o6 4sa mostly cash. in hands Of trsnspor
taon agent The last year its receipts $sio
and Its Expenses about $s65 the latter much above
expectation and the stock falling in consequence Tho
Worcester road appears to owe $s6ssss for expendi-
branches purchases Of land,ne buildings,
&c. and estimates SITS 900 of saeable land be appl
ed reduction Of that debt Its whole cost last date
$a0s5o43 and double track, nearly all Of heavy rail-
for al besides branches &C. responds to that total The
receipts Of year ending December lst Isls s5O4
4A, and the expenses $oo7 .sas being net income Of
saae Co., or fraction over per cent its paid up
pital.


Tha report of the FtchburR Railroad Connanv sho,vs