Note Of these 17 banks the Hudson and Delaware declares no dividend, in consequence of appropriating their means to the great work of completing the canal between the two rivers, which promises a great advantage to the city. The Greenwich and Leather-sellers have recently commenced; so that the dividend has accrued upon a capital of 17,930,000-making an interest on the dollar of 5.7875 cts. As the paper discounted will average 60 days' notes, and 6 per cent discount deducted, there must have been discounted during the year 1830-31, paper to the amount of.

CONTINUED.

103,769,952

During 1830-1831, two of these companies, whose capital amounts to 450,000, declared no dividend, so that the dividend of 403,000 has arisen upon a capital of $2,600,000, making an interest of 15.572 cents. The American commenced in 1815, and its dividend to the year 1830-1831 inclusive is 312 per cent, amounting to,

....

The Ocean, with a capital of 350,000, has, from 1823 to 1830-1831, inclusive, yielded dividends of 126 per cent, in the whole,

"

1,560,000

The New York, with a capital of 500,000, has, from 1823 to 1830-1831, inclusive, yielded dividends to the extent of 76 per cent,

The

During 1830 .1831, two of these companies, whose capital amounts to
8750,000, made no dividend, so that the dividends of 8489,750 have arisen
upon a capital of $7,050,000-making an interest of 6.805 cents.
Washington commenced in 1814, and has made a uniform semiannual dividend
of 4 per cent-making in all 144 per cent, amounting to,
From 1823 to 1830-1831, inclusive, the dividends of the Eagle amounted to
69 per cent, making 8347,500Globe, 52 per cent, 8520,000-Franklin,
44 per cent, 133,000-North River, 64 per cent, 8224,000-making in
all,

....

,, 21,200

$489,750

300,000 | May 3

Nov. 3

500,000 | Jan. 0

July 0

$7,800,000

During 1830-1831, three of these companies, whose capitals amount to 81,500,000, have declared no dividend; so that the dividend of 879,700 has arisen upon a capital of 8883,750, making an interest of 7.731 cents.

20

879,700

XXXIII. PROGRESS OF STOCKS IN THE CITY OF NEW YORK.

In the previous estimates reference is had especially to productive capital in determining the rate per cent. For example, bank capital production is 17,930,000, making 5.7875 cents; but in the above, the capital to the whole dividend declared and the rate per cent determined the one against the other on each species of Stock.

Note. The average rate of interest is 5.0036 cents per dollar. By the rule laid down in the Statement of the Progress of Stocks in New York, the amount of paper discounted must have been :

$695,500

$69,550,000

500,000 April 3 750,000 April 3 500,000 April 24 $13,900,000

Oct. 24
Oct. 3i

,, 12,500

,, 33,750

Oct. 3

Oct. 14

,, 45,000 20,000

Note. The United States Bank divided in 1830-31, 7 per cent, which added to its former dividends, makes 70.10 cents from the commencement.