The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-05-05
FINANCIAL, AND COMMERCIAL,
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MONEY MARI x EFT.


There was better feeling in the stock market this
morning. but the coal stocks have not paraken of it,
Transactions in all the fances large principally
time, buyers option At the first board Nicaragua Tran
sit advanced per cent; Morris Canal, NJ Canton Com
paDy n New Jersey Zinc, d; Erie Railroad, Il Harlem,
r.; Norwich and Worcester Il; Reading Railroad, u;
Hudson Railroad, H. Parker Vein declined ~ per cent
Phenx, q; New Greek, 4. Cumberland remains about
the same. Montgomery Mining is rapidly sinking, and will
be entirely out Of sight The stock market has
taken just the turn anticipated and predicted The
depreciation yesterday too great and too sud
denly to continue. Most Of the decline in certain stocks
has been recovered but have much faith in its per-
manency-it cannot, in opinion be sustained. Even
in the event of the money market becoming easy and
naming will require time to give fancy stocks
good healthy start upward There is disposition
the part of any not already deeply involved to enter
into speculation and those in would Like very much to
get out at moderate sacrifice. We look for dull
market generally, for several weeks.
The receipts the Office of the Assistant Treasurer of
this port to-day, amounted to s125072 so; payments
STA, 634 Balance, 81, oos, sl9 so.
The steamship Arabia, for Liverpool, to day, carried
out 500, 800 in specie, principally gold.
The Pacific Insurance Company have declared semi
annual dividend of eight per cent
The following named banks of Philadelphia have just
declared semi Annual dvidends:-The Mechanics Bank,
six per cent; Kensngton Bank six farmers and Me-
chancs fve and extra dividend of two per cent Gil
rard three; Western Bank, Ave. Southwark Bank Eve;
Manufacturer and Mechanics four Bank Of Northern
Liberties FIVE; Bank Of Commerce, FIVE; Tradesmen's
Bank four.
AT meeting Of the directors of the Llangoan Coal
Mining Company, held yesterday, j. Waters was elect
ed President in the place of Dr. wynne whose services
sti retained by the company its Vice President
Co, d,ba
tory works for getting out COAL would be completed by
the lst of May, but have not heard whether they
were completed or not on that day.
The speculative excitement in Lake Superior Copper
stocks, which ragged so intensely in Boston few weeks
SINCE has entirely subsidized and shares fast finding
their proper level The value of nearly every tbs
list has fallen heavily and the probability is that there
is much lower depth for them all. They have been
enormously inflated, aud may 60 far the other
extreme. Iaf
It will be by an advertisement 10 another column
that the Hudson River Railroad Company intend issusg
convertible bonds to the amount of 81 O00 for the
purpose of raising funds to extend the double track and
other improvements These bonds will be Issued in sums
of 900 each payable in 1857, bearing per
interest, with coupons attached, payable semi annually.
They convertible into stock at the option of the hold
er any time within ten years after the 1st of May 1856
Stockholders have the privilege of subscribing to these
bonds in proportion to the quantity of stock held.
The gross earnings Of the Erie Railroad Company for the
month Of April 1853 amounted to s423076 S. against
$500 % for the month in 1852 showing an in
crease of sl025 61equal to about thirty three per
cent.
stock and exchange house has been organized in
Wall street, under the firm Of Drake Il Bradford. The
general partners James NJ Drake late of the firm of
Coleman Drake and formerly with Jacob Little Co..
and N G. Bradford Jr also lately in the employ of the
same house. The special partner is Mr. Edward Little
who has put into the concern capital of $4,000.
The total amount Of coinage Of the United States Mint
Philadelphia, during the first four months Of 1885, was
a annexed