The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-05-06
FINANCIAL AND CoMMERmAL.
MONEY MARK EFT,


unusually srosg has taken the bears entirely by sur
PRISE Whether viii hold long enough for the bulls TO
realize to any extent doubtful. is opinion that
the market cannot stand the withdrawal Of any
Of buyers while there many disposed to sell at any
state Of prices These spasmodic starts in the fances
are by means healthy. They denote an unusual con
clifton of things locally and it would not be safe to trust
them either extreme At the first board to day Nor
ris Canal went up Il per cent Crystal Palace s. Ncara
qua Transit, "a Cumberland Coal IA Parker Vein, 2ls
Phoenix rs, Erie Railroad, u; Harlem Railroad ~ Ro-
chester and Syracuse Railroad, ri Hudson River Rail
road q. Montgomery Mining declined 4 per cent. We
notice actise movement In State securities at the
first board to day than usual also in railroad bonds 1t
will be by the official report OF sales that two hun
dIed thousand dollars Of Erie Convertible Bonds 1862
sold at the first board this morning at par seller
twelve months. This is about large sale of rail
road bonds ever made at the board in single lot
Cash sales Of the kind OF bonds were made at
per cent premium At the second board the market
not sustained nearly every stock in the list de-
clined, and at the close the tendency downward
Morris Canal fell off = per cent Nicaragua Transit, II;
Florence and Keyport, 4; Harlem X Erie Railroad
Norwich and Worcester, u; Hudson Railroad, "a. The
coal stocks look little buoyant. This is attr
buted to the fact that active bear demand exists
which must be fatisfei As this subsidies, prices
will fall back again. We aude particularly to the Cum
berand and Phoenix These stocks advanced this after
per cent each. The bears have oversod and for
short time mus. look for gradual advance. lei
expected the organization OF the management Of the
Cumberland Company will have good effect, and ceae
more confidence among holders and spectators. If it
does it will be very short lived The president is
undoubtedly very active energetic man, bu. he will
difficulties to encounter in the coal fields Of the
Cumberland distIi: than in all the anthracite region Of
ala nd C,,x,
pany coal Of quality 1T to use in the second
place. it has not much of any quality and in the third
place. cannot get to market with its present facilities
enough of all qualities to pay the first fraction of dvi
dend. the president these obstacles
TO producveness and prosperity will give him full
credit for 30 doing.
The receipts at the Office of the Assistant Treasurer Of
this port to- day. amounted to ssS, lSl Al; payments
s15.O25-balance, $7,oS2 o75 Of.
At meeting Of the Board of Directors Of the Hudson
River Railroad Company, on the 4th inst, Nelson ].
Beach elected director in place Of Gouverneur Kem-
be resigned and subsequently chosen Vice President Of
the company to fill the vacancy occasioned by the res
nation OF Edward Jones.
Mr. s. Draper will hold his regular weekly auction
sales of stocks tomorrow riday) at the Merchants'
Exchange at half past twelve o'clock Several very de-
sirabe stocks for investment will be offered.
The North Carolina Copper Mining Company have
chosen Mr.. n. K Anthony President, in lieu Of d. j.
Anderson who has retired The reports Of the companys
agents, from the mines, continue to be highly satsfac
tory and promising Sales Of stock made yesterday
at II per cent cash.
The steamship ASIA from Liverpool brings three days
later intelligence from Europe The commercial accounts
more favorable than those previously received
Quotations for cotton exhibit . slight decline, while
breadstufs remained without alteration The markets
o.k;,,o
there more buoyancy and more activity. Consols
we're firm at the closing prices Money plenty and
loans easily negotiated at 2 per cent The last
turn Of the Bank of England showed variations con-
sequence in the amount Of bullion hand in any Of
the other leading departments.
The annexed statement exhibits the Of tonnage
cleared at Psburg and amount Of tolls collected the
same, during the months Of April 1852 and 1885, ALSO
the whole amount of tonnage cleared and tolls collected
the fame from the opening Of the canal up to the first
Ct May in each year.
PUBLIC WORKS OF PENNSYLVANIA Tolls COLLECTED At
PrIsBIRG
pril, 1852 OIL oi4 lbs Tolls collected SIS e1s 4s
April, 1853. 24,1lal27 q :. 1881 SO
Increase of tolls. s7cos IS
Mar AAp !e' Tolls coma 81 ss
Increase for the -
year thus far. sssa,sls ... -. $50 2s1 g.
Had it not been for the detention occassoned bv the
Pennsylvania Railroad the Allegheny Portage Road,
the business the western end Of the canal would have
been largely increased.
Lowell Holbrook, Esq late president Of the Cumberland
Coal and Iron Company having rendered his resignation
to the Board, with the recommendation that Newell |
Esq, be chosen his successor the latter
gentleman yesterday unanimously elected presi.
dent Mr. VIM H. scoaeld resigned his seat in the board
give place to Mr. Horoo who was thereupon elected
director thus retaining his connection with the CON-
pany. Mr. Sturtevants great practical abilities and ex-
penee in the coal trade render his services president
a valuable acquisition to the company.
The amount Of tolls collected the Morris canal for
the week ending 10th April 1s43, was. sL677 o6
Last year, same week 3423 03
Total receipt to the aoth April 1853 .ssa5Si 81
1857. 6812 So
Equal 10 about two hundred and City per ceat If this
will take prominent stand among dividend paying
stocks.
1t will be by advertisement in another column
that the Morris Canal Company have made full and
report Of the contemplated improvement
of its valuable dock property at Jersey City At the
meeting of stockholders held to day at Jersey City, in
laton this matter, the report unanimously adopt
ed, and the folio wing resolutions passed
Resolved That tho directors Of said company be re
and they hereby directed to issue forthwith
pr bic opo for estimates OF the cost Of filing in and
docking out the property referred to- the basis of
the statement accompanying the maps and that said d
rep 1T the offers Of said proposals at iourn
cd meeting Of said stocl holders to be held at this place
on the 2eth day Of May. 1853, at one O'Clock
Resolved That it is the opinion Of this meeting that the
said properly should be improved and that the
sho ud not be sold until improved unless otherwise
by said directors after consultation with the stock
holders assembled fer that purpose upon notice given by
said directors for at least two wesk in the public
in Jersey City ard New York
Resolved That the officers Of this meeting be request
sign the proceedings and furnish copy to the Presi
cent and directors of said company.
With the rapidly increasing from tolls and the
great value the improvements determined upon will give
TO the coppanys property in jersey City appears to
that Morris Canal stock is actually worth than
ever The gross amount Of tolls during the pre-
cnt of navigation win probably exceed $175 600
The annexed letter Is another Of the series have
-I-ar