J FIX dividend.
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FIX dividend


Although the stock market remains very much de-
pressed State stocks show but very slight variation
from former prices The condition Of commercial affairs
throughout the country prevents operators from going
into specuatons very Deep and the present stag
nation in Wall street While the stock speculators
doing nothing, undecided how to act. the merchants,
particularly the importers, are unusually busy The
Collector of the port has been compelled In consequence
Of the press Of business to change the hours for business
OF the Custom House, from to instead Of l0to8. The
importatons coming in rapidly than ever and
the movements Of trade were oetive The job
bers doing tremendous business, business much
larger than the most sanguine anticipated The auction
houses have commenced their fall sales, but yet they
have not been very extensive The importers active
ly engaged supplying the demand direct from the job
bsrs and until that ceases, becomes greatly dmin
ished the auction rooms will not be very well filed.
Our importers and foreign commission houses have
hand enormous stocks, which daily increasing,
notwithstanding the immense demand from the To-
cal trade. Amidst all this apparent prosperity, the
seeds of revulsion have been sowed The enormous
imporations coming in and passing from fra to second
hands must be paid for SO long they remain in the
hands Of the commission houses to which they
signed the value is not fact placed to the indebtedness
Of the country and the payment cannot he but
the moment these foreign manufactures pass into second
hands debt is contracted that must be paid from
credits created by our exports or by shipping
the precious metals The extent of foreign
and domestic trade already calls for further
expansion in the Of the banks TO supply the
increasing demand for money The rate Of interest has
already reached the legal standard and the hanks
transferring their loans from brokers and stock spectators
to the commercial classes The distribution through the
country Of the immense mportations of merchandise
must create very great amount Of credits and in6ste
trade beyond safe and proper limit Unless foreign
trade suddenly becomes contracted, fear the result
Of the next two years business. A rsvulson must de-
stroy hundreds who imagine they now engaged in
the most prosperous business possible and whose only
object present to extend their operations far
their credits will permit.


State Stocks have experienced very little Improvement
in actual value The attempt to sell division OF the
public works of Pennsylvania having failed, many are
disposed believe that all the other sources Of revenue
provided by the lest legislature will prove as bad The
canals and railroads Of tho commonwealth are doing
very good business The tolls received up to the lh
Instant for this year. show increase Of about twenty
per cent


pennsylvania STATE WoRxs.


Tolls received from Nov. 80, lsas, to August


Tolls rec ivsd within the same period. during .


the last fiscal year. .......... 57S $40 %





Increase to Aug 1st, 1874. ......... S140o2l o5
This very favorable far 1t goes The creditors
must patiently await the result Of the
movements going on to meet their demands.