COMMERCIAL AND MONEY MATTERS.

fFar Commercial and Money Natser,, see Last Paoe.)
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COMMERCIAL AND MONEY MATTERS.
fFar Commercial and Money Natter,, see Last Page,


MONDAY, P. II.
The market recovered to-day in feeling. and
there general rise In the fances At the second ca
the tide had turned and prices to per cent on
some Stocks higher than at the opening After tie board
,e market was little weak, bat at the Second Board the
tendency Of every thing was upward. The fall OF Saturday
WINS artlfclalIy produced entirely distinct from
manic To-day buyers were numerous and have now
better margin to operate In.


Exchanges are heavy and rates are breaking
down. Sterling is 81 a 10; Francs 25 a 23s.


Cotton fregets are I'd. for square bales for Liver
pool. The quantity Offering is not very large


Abou; $4,000 in Specie was received on Satur-
day from Montreal.


The receipts at the Custom-House continue TO
fail on The income for the week ending Saturday. 18th
March, was. S29I.00I
Same week last year 49,. ....-...-...--. $50, 29G


Less in .ss3,2s9
Received from LIST Jan to 18th March, ls45 s3S52,5.7
EDO do 70 18th 1larch, ls+4---- 5,029,I26
Decreased receipts In 1915. .Sl,F7,l79
We referred some days ago TO pamphlet issued
by Charles Elct Jr. Civil Engineer" The Position
and Prospects Of the Schuylk Navigation Co." in which
there series of unprovoked attacks not only on the
prospects and situation of the Reading Railroad success
m rival to the Navigation Co. for the coal carrying trade
but also the honor and veracty Of the officers Of the
Company who were, by implications, accused OF making
false statements relation condition or aud cost OF
transportation on, the Road We have now before lis
circular President Of the Reading Road in reply
TO some OF the msstatencnt of Mr. Eet in which 1t Is
shown that looking the business OF Transpor aton Co.
through the medium of employment In rival company
has not the effect ogving any remarkable purity to the
vision Things appear distorted and the observer sees that
which he wishes to see, not that which actually is The
circular is written in dgnifed and gcntlemanly cncin
this particular the Of the document which pro-
yoked H. and Is marked by absence Of all recrmBatoD
The President says in relation to the pamphlet by Mr.
Ee had It's author confined himself 10 the usual sum-
mary expected profits and engineers estimates this re-
Yly would unnecessary but II processes 10
erect credit by unwarrantable assault upon others,
The Managers have felt it their duty meet the publication
By Il full and decisive denial" The following
tracts from the circular:


The increase of the debt the Company the
by which produced, the Managers believed to have
been sufficiently explained In their late Report That large
sacrifices made TO acquire the means to complete the
work. Is matter OF public notoriety, and has never been
concealed or suppressed.


In the pretended analysis Of the late Report Of your Man
agers 1t is stated, 1.-The President acknowledges





writer, showing the cost 10 be S939s35i 96, by which it
will be seen he deliberately added moro than 100000 10
the actual debt of the Company The Report itself stated
that the debt Of the Company tU be farther increased by
the payment the 5000 and engines ~ contracted
for completion the wharves 1t Richmond, and the
settlement OF some claims still uuadjusted. Again The
cast of the entire work and machinery will not In any
event. exceed $1,000 oO0 and uhen 1t shall become ad
visable the expenditure to this amount its
paclty for business win be almost unlimited"


The disbursements for construction account and and
engines, has been S4i7.77i Ga. Thus We find that the
publication of Mr. Eet increases the expenditures OF the
Company December l, 1874 S60 645 o.
Ii dimnishes construction expenses, and adds


those OF transportation n---..---------. +f7Il Ga


sl,o494lG 6s
which Is moro than the ascertaned deficiency


The tov Of the publication NAV be farther seen In this
IL states Tho cost of the raread furniture viii be alto
gether-l00 locomotives at $1,000 each 100000


6oOo cars. at $500 each 100000
Aggregate cost of cars and engines for the trans
rorstlon of trade Of 900 900 tons So 900
The average load of the engines during last 9a
TONS tho bulk OF having been done with the
wooden and light engines. The new engines take an
average 400 tons, and therefore the
ty coal per train will be materially increased this
But exhibit the allegation in Its true light, win
1874 tons the average lead 10 transport 100000
of coal per with 100 engines each one would
be required make less than 50 trips of "a miles and back
per annum The 6000 averaging tons Of coal each,
TO transport the same quantity would only be required
make less than 10 trips each, for the same period.
STATEMENT showing the increase liabilities from De-


cenber I, lSi3, TO December ]. 1874.
Bal. sheet Dec. l, 1914 9,i57,o69 "a


Less sundry accounts


since collected. 1862 a


Less cash. 1852 ~ 59,2li 6S 939S, 1854 90
Bal sheet Dec. l, lsas.. s7,ls5,al2O O6


Less transportation ac
incud in tho statem't l70,3l4 so


Ss975,o97 Sc
Iesssundry accounts 4e, pol 90


Less cash ....----.26,ies5 SIS 1880 IS 69o2776 81


Increase of liabilities 50, 557s IS
Construction account laying second track,


wharves at Richmond, depots. water sta
TONS shops, wideng tunnels, &c,624, ,i62 %
Railroad iron and duties .-...-....5 .5o0.560 81
Locomotive engines and cars. .2T3 039 81
Land damages settled s. real estate 4o,4is 26
Bonds nego for above atS0per CT. 3Ie,Os4 81
Interest acc. (neudng arrears) ..479,253 Sc
Loss on bonds issued according to
agreements of ls43 and in fund
ing other floating debts of same
year @uI,9]t u


sa,747,47a 5O7
Lessnet receipts Transportation 25l,s95 s.


-S2 495,55S Is |
(Total amount of bonds issued, S3449 S50-averagc
~ il0 per cent.
The of hauling coal the Road was shown TO be
~ sOO cents per ton during 1884, and that during lsl5
win be only from IS to IS cents per ton. Mr. Ect, in
his pamphlet the cost at about five times this
The entire expenses Of the Transportation De-
rartment for last year were S254,l0s o.


The advices from Pennsylvania are that the Erie
Road will succeed in Its application for permission to pass
into that State.


The tide-wa.er boat Daniel Webster arrived at
Philadelphia un Sunday from Havrc do Grace lumber la
den being the first boat Of the The Canal is
In good navieable order.


The Message OF Gov, Rosas OF the Argentine Re
public received a, Phadcrhs gives the following budget:
The estimates for the year ls45, incudnst the


floating debt are given at. SO, dI6,i22 u
The ways ard means ---..-.-- -4o237.6S5
Deficit, Is. .53s,136 ST


The Hartford and New.Haven Railroad COM
pay declared dividend of So per share from the earn
ngscf the las; six months The Company derived In
that part of the road between Hartford and
Springfield, until the 9th Deccmbcrlas;
NJ, r.. e Ii. L