The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-06-22
FINANCIAL AND COMMERCIAL.
NONE MARK e II /.

|
MONEY MAR * EFT.
TUESDAY, June 2l-8P.M
There was considerable activity in the stock market
this morning. notwithstanding the oppressive weather
With the thermometer varying between ninety and
hundred degrees is very difficult to get up much
of excitement in fancy stocks. Wall street Is with
doubt the hottest place in the city and Is almost
impossible to keep COOL by keeping perfectly quiet
At the first board to-day there quite active de-
for nearly all the most prominent fances at prices
corresponding pretty nearly with those current ut the
close yesterday The tendency however, downSard,
and sales made at q slight decline. New Jersey
Zinc fell Of Il cent Cumberland a Erie Railroad,
a; Harlem u; Reading Railroad u. Parker Vein i'm
proved one per prices ruling at the frat board
yesterday.
There were large sales Of Parker Vein to day at the ad
vance both at the first second boards Most of the
transactions for cash. The assets OF this company
comprise thousand Of the best coal land in
Georges Creek Valley seventeen hundred of which
is the workable big ven and ten steamers, which form
the tri weekly line between this city and Baltimore.
These steamers doing very heavy general feghtng
business which prevents the company from bringing to
market sufficient quantities of its coal About $50
tons are daily shipped from the mines The facilities
this company already possess for doing business should
give its stock higher value in the market, and will,
soon at its position and prospects generally
derstood.
The doubt about the dividend on Erie Railroad stock
has already eDsiby affected the market price of shares
The dividend committee is all divided the question Two
are known be in favor Of full cash dividend two in
favor of dividend in any shape and in favor of
stock dividend. We do not see how the company, in
view of the effect in Europe of suspension upon the cha
racter Of American securities generally hesitate
moment There is but way to sustain the credit Of
stocks abroad and that is by prompt payment of
dividends, and all other obligations, at maturity 1t is
estimated that about five millions of the convertible
bonds Of the Erie Railroad Company held in Europe
The payment Of a dividend the stock would send
home large portion of amount and niurionsy effect
railroad bonds of other companies which have been nego
tated abroad.
The receipts at the Office of the Assistant Of
this port to day amounted to $1243 1915 81; payments
ss7 1852 0e-balance, S7,94s SAT AZ. The balance is
steadily accommodating. 1t is eight millions
than it before.
The sales at the minir board to-day follows
7C0 shs Fulton Copper
50 :. acSu, ,,o $50 $50. .
100 DO. do DO. bio. .............5h
Mr.. s. Diaper sold at the Exchange to-day hum
dred tons Of copper from the McCuock Mine Of North
Carolina at the following prices =
80 tons about 80 per copper at IS per per
cent.
90 tons about 70 per cent do. at ~ 70 do.
The thirty per cent copper of this company Is the
most valuable Of the hind mined 1t Is much
more easily, and therefore much more probably
bly, worked than of the COPPER found in the Lake
Superior mines. lie much wanted by smelters It
contains material actually necessary to proper
fux It is much more productive to miners than the
native copper Of the celebrated Cliff and Mine opper
mines Of Lake, Superior Dr. Kenyon Of the smelling
Of Baltimore offers to take all the thirty
per cent copper Of this company they deliver
at the works. that favorable point for deli
very. His offer may be accepted The demand here
active, and this quality Of is desirable that the
company will probably able to offer another hundred
tons auction in this market about the 18th of
July proximo.
At the second board the market weak and I'M
settled The closing prices show decline in Nicaragua
Of x per cent; Parker Vein y Erie Railroad Y; Com
berlaId, u. McCullock gold advanced u per cent.
The Irving Bank has declared dividend Of three and
half per cent.
The Naumkeag Steam Cotton Company have declared a
semi annual dividend Of Ave per cent.
We call attention the sale Of Gaena and Chicago
Union Railroad bonds advertised by Messrs. wadsworth
and sheldon to take place Saturday, the 25h instant
The Galena and Chicago Union Railroad Company
mepced the construction Of their road at time when the
right of way, depot ground railroad iron and other
materials and labor obtained at rates ranging from
twenty five to fifty per cent below the present value.
The first five thousand tons Of rails imported for the
paDy cost laid do in New York. S35 per ton whilst the
present value is about $40 per The depot grounds in
Chicago purchased at probably 900 less than
the grounds could be obtained for and the right
of way to great extent obtained without cost All
circumstances operated favorable cheap construction
Of the road and it is safe to calculate that road
the country could not be constructed at cost
than thirty to forty per the actual cost of
this road There is Of this road in completes opera
tion from Chicago to Rockport ......... % miles.
The extension to Freeport will be completed in
The branch to Beoit win be completed in octo.
The air line extension win be mpleted in Janu-
airy Lext.... 70
The receipts Of the road, with but ninety. two
miles in operation, were for the year end 900 .
Expense, Of operating for the
Amount Of dividend: declared in ''''' .
August and February last. =. 149, 973 81
Interest account and allowance for
depreciation. ................ eO,66O 10
- 42s $50 o3
Leaving surplus OF profits, May 1...... sos 433 rs
The entire cost Of the road branch and air line ex
tension estimated TO be about 50 and the
liabilities Of the road, when completed will be as fol.
ows
per Cent Bonds issued in 1852 ........ 5000 900
Per Cent Bonds offered .........,..... 600 900
These bonds all secured by first and only mort
gage upon the emit road and property Of the
and from the fact that the whole liabilities Of the com
rany less than third the the road there
be question to the ample security to the holders
Of the bonds In fct they do not stand second to any
securities in this country and safe and permanent
investment they offer inducements to parties seeking in