The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-14
FINANCIAL AND COl1EERCIAL.



MONEY MARK EFT.
THURSDAY Jan. 1876 p. M.
There was large business at the first board this
morning, and prices show slight Improvement. A
good portion of the transactions were for cash, and
Mt the Close holders were frm, at prices above our
quotations NJ j. Zinc advanced per cent; Nicara
rua Transit. /; Phoenix Coal, 4; Long Island 2;
Northern Indiana Railroad, Ia; Albany and Science
tady Railroad IA; Morris Cana,E. All the good divi
dend paying State stock and all the leading railroad
bonds, were active at the first board at yesterday
prices. Parker Coal Company closed without change
to-day. The amount Of stock offering is small, and
holders feel confident Of its touching par long before
the next coal season over; thing is certain, it
ia in the hands Of active, energetic men, who have
seldom failed in the accomplishment of any object
they have undertaken. The coal business Of the
Cumberland district generally has attracted the at
tention of large number Of most enterprising CAPT
taiss and in the direction of the different companies
men Of character and intelligence have been en-
listed. Everything that experience, energy, and
perseverance can accomplish in making these
companies productive, viii be DONE At the
second board to-day there were large sales Of Ncara
qua at an advance Of per cent; Morris Canal /;
Portsmouth, !; Parker Coal 1; New Creek, !; Cum
cordance with predictions. There is steady de-
mand in Philadelphia for the stock, and theproba-
bity is that the bulk of the capital will be absorbed
in that city. A movement is in contemplation rela
tive to the valuable water privileges Of this city on
New York Bay, which, if perfected will have very
great influence on the market value Of the stock
There has been better demand within the past day
Or two for Carey Improvement stock, but the views
hold uyon abnxof bnca 49,,
will soon meet the ideas of sellers, when the stock
viii be as active again as usual. New Jersey Zinc
was fraction better to-day. The recent advance in
iron has turned the attention Of manufactures to the
valuable mines of frankhnite belonging to the N.
J. Zinc Company.
The receipts at the Office of the Assistant Trea.
surer Of this port to-day amounted to s172,56l 81;
payments, SOL ,655 l2-balance, s2,675,2lO ~.
At meeting Of the newly elected Board of Trustees
of the st. Lawrence Mining Company, Mr.. Thomas
Morton was elected President for the ensuing year.
There will be sold at auction to-morow-Friday- at
the Merchants Exchange, by Mr.. Draper number
DF favorite stocks and bonds. Among them are
shares Of the Pennsylvania Coal Company, Mansfield
and Sandusky Railroad Company Oswego and SYRIA
cuse Railroad Company, Macon and Western Railroad
Company shares Of the Astor Bank and bonds Of the
AmnerV h0air0au company
The Etna Insurance Company of this city has de-
caared a dividend Of six per cent; the Seamens
Bank for Savings It the rate Of six per cent per an
num- on sums of I'VE hundred dollars and under, and
five per cent on all larger sums; the Bank for Saw
ngs Chambers street, and the Bowery Savings Bank,
at the rate of five per cent per annum on sums be-
tween FIVE and five hundred dollars and at the rate of
-four per cent on all larger sums.
According to reports made by the New Orleans
banks up to the 18th Of December the capital stock
was ,l30; deposits, sl3, ,945; discounts
sI9, specie, es,24o,3s4; circulation, S547s
Five miles of the Albany and Northern Railroad are
completed and the remainder Of the track to Cohoes
Is now ready for the rails which have recently ar
rived in this city from England. About 800 tons of
the rails for the road are on the way from Eng
land. The company originally purchased about
3S 900 tons-enough 70 lay the track through-since
when the price of iron has nearly doubled.
The receipts of the Norwich and Worcester Rail
road Company, during the month Of December, 1852,
amounted 10 $2l ,543, against sls,73l for the
month in 1851, showing an increase of s2sl2.
The Attorney General Of this State has been au.
thorized by Judge Harris, of the Supreme Court to
commence an action against the New York and
OF vacatng the charter and annuling its corporate
privileges In accordance with this order, the Com
pany has been summoned to answer the complaint in
the action within twenty days from the 4th inst A
movement Of this kind was made some time since,
but failed, we believe, from some informality in the
proceedings It is now revived, and the merits Of
the case wiz probably be presented. 1t is full time
something was done to separate the chair from the
wheat, and place before the community such infor-
nation and facts q WIN enable them to Judge for
themselves which u the good and which is the bad
Under the general manufacturing law Of this State
It is the easiest thing in the world to get up any
Kind Of . company; and there probably never was
time in the financial history Of this country when
30 much caution, 70 much discretion, 30 much care
was necessary In the selection Of stocks for invest
ments or even in the choice Of stocks for speculation,
a ct the present moment Comparatively, there are
very few valueess stocks in the Market but even the
few are presented in such an attractive shape that
many are drawn into them. II is fortunate that the
public have escaped with 30 little damages and the
eject Of the movement alluded TO above, we have no
doubt, win be Of very favorable character. To Sc
cure the confidence Of the community it is necessary
20 show after an ordinary lapse Of time, results ap
preaching pretty near the estimates and antcpatons
Without something Of this kind is presented, within
reasonable time II is useless TO attempt to sustain
IN active speculation. This remark will apply par
hculariy to the operations Of the New York and
Montgomery Zinc Company. We have repeatedly
been told that the paints OF this company not
only Of the most superior character but that abun
dance would soon be in the market Neither of these
statements have been corroborated and it has been
pretty clearly shown that the mineral resources Of the
Company are Of the poorest and most worthless char
acter. Some time since, the New York Zinc Com
pany created, for the purpose Of carrying on min
ing operations in the Shawangunk Mountains, was
abandoned by its onginatos. They first en-
ployed practical, honest miners, and biologists,