The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-02-18
FINANCIAL AND COMMERCIAL.


| The stock market was active to day, but not buoy
ant At the first board Nicaragua Transit declined
per cent; Chesapeake and Ohio Co., 1; Erie Rail-
road, 4; Harlem, /; Long Island, I. Sixth Avenue
Railroad advanced l per cent; Hudson River Rail
road, 4; Pennsylvania Coal Co., !! At the second
board there were very large transactions in Erie
Railroad, at decline from the first TO the last SALE
decline of cent prices current in the morn
ing experienced. There was evidently good
inclination among holders to SELL and nearly twenty
five hundred shares changed hands. Hudson River
Railroad fell of l per cent; Cumberland Coal, !;
Phoenix Coal Co., Ii Nicaragua Transit, {; Harlem g.
There were two small sales of Potomac Copper Com
pany, at 80 81. Since this stock has been well dis
tbuted by the original holders selling out, the de-
mand has fallen Off and the stock will probably re-
main quiet until something more is known about the
mine. As yet nothing is definitely known of its ex
tent, and much depends upon future explorations.
The receipts at the Office of the Assistant Treasurer
of this port today amounted to $l79O3O pay
ments, $40 ,961 4s-balance, 81, 1872 ,O6s so.
The following gentlemen now compose the Board
of Directors of the Nicaragua Transit Company =
Cornelius Vanderbilt, Thomas Tileston, Nelson Ro-
binson, Joseph Ogden, Charles Morgan, Henry J.
Sanford. J. Depeyster Ogden, Vice President. The
Secretary is Isaac G. Lea.
There will be large sale by auction of stocks, at
the Merchants Exchange, tomorrow, (Friday) Feb.
49, at II o'clock 1t consists of mortgage and income
bonds of the Buffalo and State Line road Of the
Evansville and Illinois Railroad and of the Maysve
and Lexington Railroad; shares Of the Aspnwall line
of Pacific Nail steamships Of the Buffalo and State
line, New York and Erie, Cleveland and Pittsburg
Junction, and New Jersey Central Railroads; the
Knickerbocker, Eagle, East River, Republic, and
Howard Life Insurance Companies; Of the New York
Life Insurance and Trust Company, and two thou
sand dollars of the bonds of the State of California
The importations into this port to-day-February
l7th-have been as follows
honey p tierces, barrels; IRON 1855 bars railroad
4509 bars 361 bundles 80 bundles hoop, 3S1 plates;
molasses los hogsheads OIL SO casks nseed steel 35
730 bundles SALT sacks 10 casks sugar 607
hogsheads 81 barrels so boxes TIM 1878 boxes plates;
wool, 70 bales woollen waste
The fremont Mills Manufacturing Company have
declared semiannual dividend Of four per cent.
The Suffolk Manufacturing Company, four per cent.
By the arrival Of the steamer Alps (propeller)
from Liverpool, we have advices from all parts Of
Europe four days later than by the previous arrival
Quotations for cotton show an improvement Of one
eighth Of penny per pound. In the lower qualities,
greater advance was realized. The corn market
continued depressed-more so than previously re-
ported, and considerable anxiety was exhibited to
realize. decline in almost every description was
quoted at the latest date.
The American Exchange Bank win receive, from
their depositors the notes Of the following banks in
Indiana, Illinois and Michigan, at I per cent dis
count
ISDiAxA.-Bank Of North America, Newport; Public
Stock Bank do State Stock Security Bank do Govern
ment Stock Bank, lafayette Gramacy Bank do; Mer-
chants Bank do; Southern Bank Ierre Haute Sta.e
Stock Bank, Logansport; Plymouth Bank, Plymouth
IILNos.-Bank Of America, Chicago; Chicago Bank,
do City Bank do; Commercial Bank, do Marine Bank,
do Carks Exchange Bank, Springfield; Stock Security
Michigan Insurance Bank, do; Michigan State Bank do
Peninsula Bank, do
railroad corporation has been formed, by gentle
men Of capital and energy, for the purpose of con-
structing direct line Of six foot railroad from the
Hudson river, at or near Kingston to the Lakes at
Buffalo and Niagara Falls which will be about sixty
miles shorter than the central route by Albany. 1t
is to connect with the wide gauge road from Canaan
daigua West, which is already nearly completed. 1t
will open route Of traffic to the rich and populous
but hitherto sequestered region composed Of parts
Of Ulster, Green Delaware, Otsego, Schorarie, Che
mango, Cortlandt and Cayuga counties. II will COM
mand large local traffic, and compete on the most
favorable terms the through trade the distance
will be less, and the curves and grades most favora-
BILE. We wish success to this undertaking.
The Ohio River Land and Marble Company will
offer for sale, at auction, in the Merchants Ex-
change, Saturday the 10th inst, at IL o'clock,
fifty thousand dollars $3.50 0O0) Of its first and only
mortgage bonds being part of 800 900, which form
the only lien upon the property Of the company,
ssting of forty thousand 100000 acres Of land lying
upon the Ohio river, in Kentucky, opposite and be-
low the city of Portsmouth. These lands are valued
at $40 per acre. exclusive Of the newly discovered
marble hills, the value of which ranges from
5000 600 to $500 000 and which are also included in
the trus. deed. The trust deed mortgage is made
to Sheppard Knapp, to secure the whole issue OF
100000 Of seven per cent bonds, the principal
payable in ten years, and the interest semi-annuay,
at the Mechanics Bank in this city,
The capital of the company is $500 900. The COM
pany proposes to erect steam mills in the neighbor-
hood of the quarries, and cut the timber from the
surface for the supply Of Cincinnati and the neigh
borhood. They have a contract for supplying
1000 600 feet of car timber to the Cincinnati and St.
Louis Railroad, at $l2s. The refuse timber is en-
ployed in the quarrying operations Of the company
as are also the steam mills for the saving of marble
slabs. The land yields % to s. per acre for lumber
ing, and when cleared they in demand at SO by
| German vine dressers, who are settling along the
river, avoiding timber lands. Running longitudnally
of the land the margin Of the river is being
structed the Maysvle and Big Sandy Railroad.
The position of this road is such that, with its
nections, it will place every farm the Ohio River
Marble Company lands in communication with al
most every market between Boston and New Orleans.
1t is to be remarked that the timber standing upon
the Marble Companys lands is the only source of
supply for the Big Sandy Railroad, or Of the hume
rous farms located along its route and the facilities
for saving possessed by the company place it beyond
competition in the Western markets.
| Land in the immediate neghborhood, cleared Of
timber has been colonzed by Swiss vine dresers at