The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-03-02
FINANCIAL AND COMMERCIAL.
MO NEY MARK EFT.

TUESDAY, Marcn ID L. M.
We have no change Of importance to report in the
stock market to-day. The incement, dsagreeable
weather doubtless tended materially to the inactivity
Of Spectators At the first board Nicaragua fell of
per cent Cumberland {. Morris Canal advanced
per cent; Reading Railroad I, and Sixth Avenue
Railroad l. At the second board, the market exhi-
bited more unfayorable complexion. Prices were
all down, and great deal Of stock was pressing for
sale. Nicaragua fell off per cent? Morris Canal, Il
Harlem, /; Cumberland 6; New Jersey Zinc, /; New
Haven Railroad, J. Erie and Cumberland at both
boards more freely sold than any other fancies
Nicaragua Transit fuctuatcs good deal from day
to day. and the buyers and sellers appear to be pretty
equally divided The opinions which have re-
Gently been published, relative to the rights
and privileges of this company should be
taken for just what they are worth, and
no more. They were got up for the purpose Of
speculation-to depress the market value of the
stock-and bull operator can 60 tomorrow and get
opinions Of equal weight on the other side of the ques
ton Anything can be proved by lawyers, doctors
or scientific men generally; and we have had SO
much Of this kind Of evidence lately that no one puts
any confidence in it. Coal stocks hang heavy on the
hands of holders. They have had their day, for a
time at least. The really good ones will come up
again gradually, and ultimately take their position
among the first class stocks. We refer particularly
to those coal companies which depend entirely upon
mining coal for dividends. The report Of the Cumber
land Coal Company has done more to destroy public
confidence in this class of stocks than anything
else we know of. This concern has turned out
to be perfect skeleton-all pretension and out
side show. An effort was made, by patching up
four rotten concerns, to make one good one,
and it failed, as any sensible person might
have anticipated In December last, the Cumberland
sent TO market between ZOO and 900 tons of coal
per week. For the week ending February s, 1858,
it sent down l276 tons; week ending the l2th O44
tons and week ending the 10TH 1,o49 tons. 1t will
require sharper fnancering to keep this company in
operation, at this rate OF shipment of COAL than has
been resorted to yet and that is saying great DEAL
The financial operation in the bonds of the compa-
ny, short time since shows that pretty sharp prac
tice has been carried on there. The bonds were is
sued to certain parties at sxtynne per cent? and not
long afterwards a new issue Of stock was made,
at IS per cent, to pay off the bonds at their par
value. 1t is easy to figure up how much the COM
pany lost by this movement. This system Of fnan-
cering has been pursued throughout and the public
can Judge what condition the company must be in
at this moment.
After the second board this afternoon, the market
was very much depressed Nicaragua was offered at
544, and Cumberland at "a, without finding sellers.
Prices must go much lower before they become
fixed
The receipts at the office of the Assistant Treasu-
rer of this port to-day amounted to $97 ,O55 pay
ments, $205 $50 55-balance, SIS ,26s 1862 36.
There was large attendance in the Exchange to-
day. at the sale of copper ore belonging to the North
Carolina Copper Company Considerable interest
was manifested by those present, and the bidding
was quite spirited One hundred tons Of copper py-
rites about thirty per cent ORE sold to the Re-
we're Copper Company of Boston, at Sc for each per
cent, being equal to $50 per ton, cash. This was
the first public sale of the North Carolina Copper
Company ORE but we learn that hereafter they will
be of frequent occurrence. The mines are worked
with great deal Of activity and the production Of
ore is very large.
The proposals for 81 ,5000 900 of the bonds of the
Parkersburg Railroad Company-sl 500 900 guaran-
teed by the city of Baltimore, and the remainder by
the Baltimore and Ohio Railroad Company-were
opened this afternoon. The total bids were for
IS $40 OOO from par to l0l. so. The loan was award
ed as follows:-
$1500, 900 Duncan. Sherman Co., 100. 90 per cent
100000 C. II. Fisher. .l01 -"
The steamship Humboldt, at this port from Havre
and Southampton, brings four days later news from
Europe. The accounts are, on the whole, rather
favorable, both in financial and commercial point
of view. There were indications in London of an
easier money market. Detailed reports of the
markets, &c. will be found under the proper heads.
The following table will show the coinage at the
mint of the United States for the two months of
1853 -