New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-07-20
COMMERCIAL AND MONEY MATTERS
FRIDAY, Julyl9-P. N.

FRIDAY. July Bpm.
The sales of Stocks were extremely light TO-
day, but the market was generally firm. At the
Second Board there was some activity aHd the
market improved The most active security wss
Erie Bones, Of which there were large sales oil
both Income and Second Mortgage at advanced
rates. TIE attention Of capitalists is strongly
draw to these bonds by their comparative cheap
ness and the positive security which they offer.
The Second Mortgage Bonds have about II v ct
interest accumulated that they are itil in fact
a triae below par. One advantage which they
possess over the First Mortgage and Income Bonds
is that they at any time convertible into stock,
at the pleasure OF the holder As there is no doubt
the stock of this road will be one Of the most pro-
ftsb!e in the State this privilege, within year or
two, will be very valuable one. Long before the
Bonds are due Erie stock will be as high as Utica
and Schenectady, and the privilege Of conversion
will then be important element in their value
The Second Mortgage Bonds, as far as safety is
concerned, are just as well secured as the First
Mortgage A property costing when completed,
Twenty Millions of Dollars has only lien of three
millions before them. No security ca1 be more
complete. The Income Bonds are due il I've years,
and at the present price pay about y ct interest
per aDnum They viii probably be cal ed in and
paid by the Company, that right having been re.
served some time before they due, which will
make the average income from them still higher.
For temporary Investment they pay seven dollars
per arnum on 92I. They are also perfectly secure
as their issue enables the Company to complets
this great work and their net income when tlat is
done can by possible conting ency be iusull ;ent
to pay the interest on the debt Even the present
earnings are ample for that purpose in the no
unfinished state of the road aad after the comp..
ton to the Lake there is no obgation g pay dv,-
bends on the stock unless they be earned.
Exchanges nre dan and heavy.
IAFreights the movement is dull raere ere
engagements Of Cotton at 30 Sterling; Flour, .
Deadweight, losi Cora is nominal at 81. Two
,hips are taken for Deals from Quebec u England
at a los. and two from 81. Johns 10 Ensland a.
f3 l5s.
The balance in the Sab Treasury is sill iucreas
ing. The receipts to-day were sl52,3i2, Pay
ments, $50, 100; Balance, 50 6l7355.
new clearinghouse is about to be e9s,olished
in Pittsburgh by Messrs J. Carothers Il Co. The
Pittsblrgh Gazette says Of this house. 81. Ca.
rothers Esq the head OF this new concern, has
been lopg and fsvoraby known here, and through
out the country-first as tire oblging and efficient
Cashier Of the NJ. Il NJ Bank Of this city and after.
ward, for several years past, as an enterprisng
and successful merchant and manufacturer. He
carries with him, into bis new business, the emf
dence Of this community, and the experience OF
years both as merchant and fnan Ter. We wish
G.. l.
means are ample, and their arrangements exten. /
sve." This house is most respectfully connected 7
in this City, and the commentators OF the PITS. ?
6urgh Gazette are fully deserved.
At the meeting Of the Directors of the Harlem
Railroad to-day dividend Of 2 ct for tbs last
six months was declared The Harlem Road is
thus fairly on the list Of dividend.paying stocks.
The accounts show that the dividend has been
fairly earned and we see reason to suppose
that the Harlem will ever again pass dividend
The receipts show steady increase and the ex.
penditures are regulated by the most iaiicious
economy. We congratulate the Stockholders OF
this road upon the improving condition of its affairs
ard upon the able administration under which lis
Improvement has been accomplished
The business on the Fitchourg ami Worcester
r abroad has increased at rapid rate, sioca il
was opened. The freight train frequently consists
Of twenty to thirty five cars. II is nearly impos.
sible to DO the freie htng on this road with the
number of cars at present owned b. the Company.
The receipts on the Saratoga and Washington
Railroad for the month OF Juoe last are upsad 4
so y ct more than they were 10 Jaue 1910.
The relaying Of the Besver Meadow Railroad
with iron rail will be haished during the p-essn.
week, when the place Of shipment will be as To-.
merly, at East Mauch Chunk The Contractors
who are doing the work expected to haze it c,.n.
ple,ed on w ednesdAy.
A meeting was held at Wells River on the lO,h
inst to consider the project Of the Montpelier and
Connecticut River Railroad when it was voted
that the rosd must and shall be buit
The projected new Railroad from ST. Johns to
Rouse's Point, it is stated, is nov fully decided
upou The Company have commenced breaking
ground and the work is to be finished in ninety
laws This route is a short one-2 miles ia length
The survey presents dead level grade from be
ginning to terminus free from a single hollow or
,nbanksaent Of more than four feet 10 depth. wiki
he exception Of two small rsvines which il crosses
md iRtersests.
We have received from the Eastern Railroad
company avecy elaborate Report, drawn a9by
is sbls PsesidsLf, D NsAL Esq lis. in fact,
sdtr 81 tslEy vs the road and railroads 10 ysae.