The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-06-29

the decline We notice transactions for cash than
usual From the opening the close OF tbs nrst board
ahe tendency d0wnwsrds Morris Canal fell Oh per
tent: Canton Company Nicaragua, IL NcCulock Gold,
u; Cumberland, y; Parker Vein, sx Harlem, VI Hudson
River Railroad Erie Railroad l. 1t appears impossi-
BILE to sustain any advance In tks fancIs Favorable ad
vices from Europe or California may produce moderate
speculative excitement and the bulls may work of . fe
hundred shates, ct slight improvement In the market
value, but it does not last long. day two at the
most up the movement, and prices settle down
again 10 starting points The is decidedly against
any activity in stocks We must AXE due allowances
fo this. II Money continues abundant and cheap, spe
culative excitement of portance may mark
the opening Of the fa but 1t win show itse in the
old out fances in the market. They have been
floating about long FROM hand to hand without any
thing having been realized except In the and downs
Of the Market that getting tired and sick OF
them all They disposed to take hold OF new things
sonethr fresh something in the shape of fancy stocks,
which have vide margio for improvement, anda
ANAL margin for depreciation The mining stocks Of the
day possess these desirable qualities and they rapidly
absorbing capital The most ehterprsinS spectators IN
the stock have their attentono the deveopement
of the mineral wealth Of country and of the many
mining companies recently organized, but comparatively
lew viii prove utterly worthless. OF the new copper
stocks nov the market, the most prominent tho
Each is we'll managed, each possesses extraordinary
richness extent Of ard each must ultimately be
immensely productive So far supplies of copper are
concerned, these companies will turn of the
raw than al the other copper companies in the
country combined. There probably will bs
favorable time TO take hold of these concerns than the
present. ard those who with realize the greatest profit
on the smallest investment either in the shape of pre-
us dividends should avail themselves Of the oppor
1untes presenting themselves in mining stocks The
companies have named above will stand any reverse
in financial AFFAIRS rsvulsion however wide
spread could than affect them unfavora
bly,. Engaged in the production of material absolutely
necessary the operations of commerce. their prosperity
and otherwise than Of the most
permanent character.
At the mining board to day the fales follows
shs Min ia Copper 200 $50 shs Phoenix Gold q
100 " N. G. CIR. b2S.. l0H 30 :" MCuock. $685.
At the close, for Mineral Company 2X bid, "a asked
Ulster az bid, OK asked Fulton TX bid, asked Hi
wasses an bid, s asked.
The receipts at the Office Of the Assistant Treasurer of
This port to- day. amounted to $l37 SOL rs payments
5ai, sOe-balance 90, 56e,79 so.
The Commercial Bank Of Albany has declared semi
annual dividend Of four per cent The Cleveland Pains
willie and Ashtsbula Railroad has declared semi annual
div depd Of Ave per cent The Erie and Northeast Rail
road ~ annual dividend of eight per cent
There has been densnd for foreign exchange
Tor remittance by the steamship Asia for Liverpool from
this port to morrow. Bills on London are quiet, at ga
OK per cant premium with but moderate supply
The steamer will take large amount Of specie prin
cipally in gold ingots.
At the second board this afternoon the
were limited There were sales of McCullock Gold add
Copper stock at 6, sellers 80 days. and 6H buyers 60
Gays Parker Vein improved u per cent, Reading Rail
road u.
The July dividend on tn bonds of the city Of Memphis
issued TO Memphis and Charleston Railroad Company
win DO paid at No 40 Wall street. and after the 1st OF
July.
In relation to the construction of the Lrie and New
York City Railroad the Elicottve Union Of the 18th
inst, says
This road no longer matter of disc usson far ss
its 6Dai construction is concerned 1t il, presume
generally understood where its points Of termination
Erie ana Little Valley The whole length Of the road is
eighty miles and traverses through this Of the
agricultural regions west Of the Cstkll noun
1ans Its western terminus, Eiie the commercial me-
1rop0s of western Peans lvsns and affords really and
truly the Only harbor where vessels may enter and lay
in safety this side of Cleveland It's inhabitants
energetic thrifty and possess the right sort of msteri.
10 drive any project TO completion which they embark
vii, be the Connecting lux tbs city Of New York
and the gea West and Sou Invest and will offer induce
lnents to travel and transportation which will make it
of tins most important tnoroughfares now in conem
pation. Its officers men of wealth. energy and prac
tical every day business talents and such word
pres dent, Is of the eahest in western New
York and the aacrity ard fathfuness with which he
Erie and New York City Railroad is the best evidence in
the world that his wealth is to be made douby valuable
70 him Ell and beneficial t. the public BY pushng forward
this great enterprise. He is living Representative Of
the hardy yeomsnry of this county, and such
1nsnds the respect Of all classes Of our citizens.
1t is the impression in certain circles that the semi
nual dvidendo the stock Of the New York and Erie
Rslread Company, due the LIST Of July proxmo has
Hnau nctoh Eocx
terAy 70 sustain the price of the stock those
who have and still continue to act upon II will make
fatal mistake. The dividend Is indefinitely post
poned No man. in the boaI Of management It,
% tell when another dividend will be pad-or rather
when any dividend will be earned We letter. re-
ceved Day two since, from Elmra, giving 7ery
important facts relative to the position and prospects
the company,s past and present management, aud the
policy purtued by those who should have had other
object view but the be of hoa who have
entrusted them with their property
TO THE EDITOR OF THE HERALD.
ELMIRA June 70, 1863
observe in the money column Of your paper occasional
s touching the policy of the New York and Erie
rejoice that those who take interest enough
In its to expose the pacy folly of those
who have instituted fatal policy pursued for it
will doubtless have the effect to exhibit the true state of
The case.
bitterness severity in the owing lines il Is tue mag
Dtude Of the subject rather than personal feeling
dictates it,
In all candor the quest should be put to the stock
holders whether their road Is operated suberye the
interests of the direction and their friends or
that Of the stockholders at large its rghtful
question to them Of great interest," and of which they
will be fully sepeible hereafter If not for thing
IuaJ be fully relied that its present most
disastrous, any may who will take the trouble
10 investigate the subject the Western division from
llnnesvilie to the TERMINUS A. Dunkrk The great fall
ing of in amount of It's receipts Ia view OF those who
best acquainted with the facts, have legitimate and
rot accidental cause which all men of good judgment
clearly fcrfee for nothing less than such cause could
have given to the humatng fac, that the present
New York and Eric Railroad Company, after two years
opportunity to perfect their do not convey
rs many through passengers to Mex York. from Buffalo
and Dunkirk combined, they did from Dankitk alone
Immediately after the opening Of tue road
Why u thsS Many thisgs growing out Of the same
cause might DO stated ho~ever b. sufficient here
TO Fay in q few fer there Ill sufficient 0pportu-
nifty to give reliable fscts If what Is here stated bs
uifd--1hnt the % mt n haua