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K For sales at The Stock Erchange SEE Lust PaTs


The fluctuations were considerable tod today and
the market heavy. Nearly every stock declined eX
cepting North American Trust, which left of firm
al lS3. We understand in relation TO this stock,
that Mr.. Horsey Palmer when here examining the
affairs OF the concern, stated IL as his opinion that
even if the trusts were not broken, the stock would
be worth So 10 $50 per share.


Exchanges are not active. We quote Sterling
9 "a 9: Francs , 80 D 284


4 very considerable decline has been experienced
in the Stock market within the last fifteen or twenty
DAYS and the reasons assigned for ii as various
as there are tongues to utter them. Stocks OF all
kinds have during the past year been below their
value and sound State stocks, Bank, Insurance,
Trust and Railroad stocks all have been lower than
they ever ought 10 have been. People are begin
ning TO examine into the causes OF the great decline
The economical habits of our people, the small
amount ot imports. and the caution which business
men OF all classes have exercised IN the management
of their affairs have produced great change IN the
financial condition OF the country III regard TO Eng
land The influx OF com shows the balance OF trade
in our favor and confidence Is assuming a more I'M
portant aspect, growing stronger hourly. tending TO
Give more pernanency 10 prices, aud calculated 10
render the heavy fluctuations OF the last iewyears
less frequent and less destructive. The advance IN
stocks can be accounted for upon such principles
apart from speculation. Speculation has undoubt-
edlv accelerated it. The great abundance OF money
idle in the Banks has encouraged speculation, and
those facilities now IN some measure Withdrawn Is
one cause of the falling offwhich has lately obtained.
The speculatons III cotton have kept back the crop,
and the Sterling bills OF the South have come tor
ward slowly. Hence the in the rate OF Exchange
and the temporary call for money upon the paper
which the operation in cottonproduces. he banks
are about making up the quarterly statements ana
are reducing their loans in order 10 appear III pro-
IN, ha.or he
nitv These causes united have not advanced the
rate of money over 1 TO per cent. But tfe erect
upon Stocks has been very considerable. he same
cause will continue 10 operate until the Isl OF feo
ruarv After that period the rate OF interest must
90 back again. Speculation viii probably revive,
| and investment 90 forward To the domestic there
NAV be added large foreign demand Tor Stocks III
which event the sound and per cent. stocks oi
the country must again take their rank among the
| highest in the world. The sound State stocks that
| have iluctuated most those OF Ohlo ana hth'
tuckv and vet there are few investments peuef eii,
ttled to the most elevated reputation than these, and
few that should command better price. Ono has
passed through an ordeal of fire. and earned her
! reputation bv Il true devotion TO her pubhc falth.
/ She has made every sacrifice 10 keep her honor ln-
suled, and with Slngleness OF purpose Dolh Sieat
political parties have united 10 save her tame rom
| the slightest shadow of disgrace. As regards heh-
tuckv the Messages OF her Executive and the con-
dition OF her finances show that If man money Is
not safe in kentucky per cents. he should convert
il into coin and carry it about his person There Is
no other method of investing with safety. lnregafu
10 Railroads, they are 10 be measured by the pros
pectiye as well as by the present value IT, tor IN,
stance the price of Harlem is 10 per cent. and tha'
price is made from the actual earnings OF the Com
pany between the city and It's present ternnatloIn. n.
why should we be surprised 10 see an advance 10 -
if through the enterprise OF the owners OF the shares
The work is extended so to meet one OF the grea
chains Of Railroad which now extend through the
whole valley OF the Connecticut, and which may
w;tbin n wear or t,vo more connect us with Albany
and so through the boundless West?


The Auburn and Rochester Railroad c9m1Pan! o. p any
have declared q dividend OF three and nall Pc
cent payable on the lst OF February


At Providence the following sales OF Stocks WeE'
made:-2O shares Mechanics Bank. s5sto s5; par so;


DO <ationa Bank $685. par S6o 2e do Arcade Bank ~
ra S50 9 do wevbo>set Bank so 10 S50t par s9g n IL
Pheni1 Bank S5O par SiO; 20 do Blackstone Caia be @


par S; 10 DO Eagle Bank S9i psi SiO ;, 81 ao To-,


Bank S4as, par $50; 70 do. Commercial Bank sei, ft


10 do High Street Bank, $50, par $50: % DO Am. '


par so; $1,000 U. $ per cent Loan al - per cent 81


meeting of the Stockholders OF the RANKIN


Bank OF Baltimore is 10 ee held for the purpose e