The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-04-21
FINANCIAL AND COMMERCIAL.



in fancy stocks As general thing their market value
at present ranges higher than their actual value and
Is therefore up hill work to start speculsuons There
Is, in fact margin, except for decline There are 1t
ia true exceptions but the list is Ged with very poor
class Of fances Parker Vein has the material for
important improvement and have doubt much OF it
win be made available Its line Of reighting steam ships is
destined to give very great income AT present prices
it is the cheapest stock the market Morris
Canal has all the elements of Improvement but
ut present they are not active. Holders are san
guine, and we reason why their anti ;ipations
should not be fully realized, The stock is firm at
our quotations Nicaragua Transit was operated
in TO day to extent Hudson Railroad looks pretty
well 1t has advanced several per cent within the past
three four days and there i quite an active demand
for the stock. This road viii do very extensive bust
ness during the approaching travelling season Erie
Railroad sustained BY holders, without the least
pec Of any improvement beyond present prices From
this time out will be greater competition for West
ern traffic and travel than has heretofore been known,
and look for such reductions in charges will prove
rupous to nearly all concerned. Last year had but
two lines of railroad connecting the Atlantic seaboard
with the West; we now have four. The Parker Vein
steamships n connection with the Baltimore and Ohio
Railroad, will take ip quantity of freight which
has heretofore been taken the Erie Railroad. The
Central line through Pennsylvania, win take large
amount of freight These roads will draw enormously
from the Erie road, and shall see the monthly
returns of that company the effect lis Cum
berhnd and Phoenix Coal stocks not in active Do
mand. The operations confined almost entirely to
cques of large holders who keep the stock moving for
the purpose of attracting outsiders II is opinion
THAT outsiders have had enough of these ancies and viii
let them Alone Cumberland particularly is in bad odor
and but for the transactions Of parties deeply interested
among themselves the market value would sink much
that ruling. We shall see a collapse of
these days.
At the board day Nicaragua Transit declined "a
per cent Parker Vein q St Lawrence Mining Co, u;
Panama Railroad, 1; N. Zinc advanced 70 per cent;
Florence and Keypcrt, Il Erie Railroad, II Michigan
Southern Railroad, II sixth Avenue Railroad, l. Most
OF the transactions time, buyers option
AT the second beard the market not so buoyant
but pretty fair demand continued for the leading fan
cies. Cumberland Coal declined d per cent; Erie Rail-
road, u Long Island, Il Florence and Keyport, u
Hanover Bank advanced II per cent, Hudson River Rail
road y.
The receipts the Office of the Assistant Treasurer of
this port to day amounted TO Sl7306S IS; payments
$213,6 96 o1-balapce ST, TAI Ss1 %.
This is the day fixed opening the canals of this
State We learn that at Rome a slight delay win take
place in consequence of tho failure of of the
tractors complete their work. The delay will be
more than day or two
The Bank of Cape Fear has declared semannual dvi-
dend Of four per cent.
The trustees Of the St Lawrence Lead Mining Company
havc issued the annexed circular TO stockholders The
finances of the company appear to be in bad way The
bonds will bring very low figure
am instructed TO inform YOU that twenty of the $500
bonds OF this company, ISSUED authorized by the
stockholders at the special meeting hell the 18th of
March last by order of the trustees offered for
sale by auction by Mr. Simeon aper at the Merchants
Exchange, in this city this day, but bidding made
thereon The affairs OF the company requiring imme
date supply Of funds the trustees have resolved to offer
the amount again for sale without reserve the
place, Friday, the go instant at IL NJ when and
where they solicit your attenoance
The steamship Europa for Liverpool to-day carried
out s2Ol. 200 in specie
BY the arrival of the steamship Arabia from Liverpool
with three days later intelligence from Europe learn
that the Chancellor of the Exchequer of Great Britain
has made public his plan by which he proposes entire
revolution in the national debt of the United Kingdom.
We have not received the result of the debate in Parl
rnent the resolutions but the with great
deal Of opposition in financial circles About two thirds
of the public debt of Great Britain bears three per
interest and the other third three and quarter per cent
interest The three and quarter per cents will in 1885,
by the terms of former conversion, become three per
cents The old three per cents therefore, the stocks
upon which reduction proposed These stocks called
s'Consols and Reduced South Annuities and
s'Bank Annuities" The Conso and Reduced mount to
f4s4 4 and the South Sea and Bank Annuities to
of the Echeque proposes pay off reduce Holders
of the stocks posing that by giving notice
before May 8, 1853, may receive for every flo0 stock
either
fl00-in money.
fs2 10s.-oi new ga per cent stock, guaranteed
against reduction Of interest for forty years. and which
will yield annual interest o. 81 lis. I'D.
fl1oof "a per stock also guaranteed against
reduction of interest for forty years and yielding annual
Iy e. 15s.-or
f1oo Exchequer bond, bearing % per cent for ten
years. and IN per cent for thirty years. when the prn
cipal will become payable at par
After the 9th of January 1854, the interest on the
above named per cent stocks proposed to be compuso
ry reduced shall cease and parties acceding
government proposal shall be paid off. Holders Of
soils reduced may also their stock, giving
notice by the 10th October 1858 into either of the new
stocks or Exchequer bonds, on the terms
Vhe London Nelos says the financial scheme Of the
English has not injured the value of the pub
lie securities English conso quoted at the closing
of the mail at 1901 1905 for money. The three-and-
aquarter per cent stocks have improved in value closing
atl02h a1025 ex dividend Great attention has become
directed TO the three and quarter per stock which
is considered TO be much improved In real value as after
being reduced TO three per stock from the 10th
October 1854 it stands then guaranteed against any
further reduction for twenty years 1t is consequently
inferred that this will be preferable stock for trust
accounts and other fixed Investments kindred nature
Railway guaranteed stocks, and in certain degree ordi
nary railway stocks would be likely rise in demand,
and in its general effect the tendency Of the measure
would be TO enhance the value of all substantial in
vestments.
Tho commercial advices BY the Arabia little
favorable than those received by the Pacific Quotations
for cotton steady with fair amount of business
doing. Breadstufs remained without alteration, with
moderate demand.
The Alexandria Loudono and Hampshire Railroad Com
pany, chartered by the Assembly Of Virginia
at its late session With capital OF So 500 900 for the
purpose Of constructing railroad from Alexandria
through Loudonn county to the coal fields Hampshire
county Virginia The charter provides for subscrip-
ton by the State of three itns Of $1,000 600 Of ca
pa to be applied the construction of the road east