The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-08-30
FINANCIAL AND COMMERCIAL.

MONDAY, Aug 20-e

MONDAY, Aug 2v-6P. n.
Thess not much activity at the stock bard this
morning. and prices were not sustained. Most Of the
transactions TINS and operators for rise have
credit than cash. At the rst board to day. Morris
Canal declined " per osns, Nicsfsgus r. Cumberland
Coal Crystal Palace a. New York Central Railroad *
Erie Railroad l. Hart RsiroAd u, Reading Railroad x
Au The nlnpg stooks firm at S&tu days Quotations
and in good demand In State stocks railroad bonds
bank stocks there Is nothing Of Consequence doing Tbs
aaciss about the only securities operated ia 4.
the bo and tho amount Of cash business that GLASS
Of stocks Is very triang Harlem little active
than usual to day There appears to DO strong bear
feeling La tho street In regard 10 this stock Apd II
would not surprise Us much II lower prices vsrs
realized. Bad management In its Ansuclal affairs ID
tho principal Of the ahsencs Of confidence
The loss Of Its city travel has undoubtedly besn
partially the OF the decline, and looks very much
~ though its less would be permanent It has bssa
drawn away BY rival lines, who WILL without doubt rs-
tain It. There sales to day Of PhsniK stock
1t offered at sixteen, and buyers ct that. We
were In error In stating that only two Of tho present
board OF directors were previous to tho aat organization
members of the dhscton This much 10 thu dis
credit u the whole concern. The public notice svea
intended to convey idea that tho present board
having but recently assumed the management Of the
Affairs Of the company could not have kLswn Of the
frauds going on until thorough examination wAs made
Had tho board been composed entirely Of msn and
had they taken Office all tho sams day AID that day
Of recent date this proclamation might have besn psr
fsetly correct but tuoh Is notths fact Il true the
company have president but NEST Of tho prseent
board u directors have been In the direction long ts
AMI their duty to have bsen thoroughly
with the compsny's Affairs. Mr.. Waters and Mr. Pentz
not the only directors TO blame for this neglect Of the
interests OF bs stockholders Of the Phax Coal COMPANY
Mr. Mitchell director for time previous TO his
secon 10 the Presidency. Mr.. AcCroady has, We BE-.
leye, been director for tms. These gsntlemsn,
however, to blame than dozens OF others in
Wall street Thsrs hardy director Of An incorporated
Institution In ths city who knows any thing about
tho Affairs OF tbs company with which hs u connect.
Cd than any outsder They do not take the trouble 10
examine or inquire, and the poor stockholdsrs who
imagine they have elected Who viii carefully guard
their interests simply dsuded SD frequently de-
frsuded. There ahould b complsts change msdo in
the htsm now prac.ised In making up the board Of
directors Of an incorporated company. Mon should 10
solicited for their practical ability. hsu should BE-
lsc.ed who will ate nd TO the duties they elected to
performances who win NOT by their neglect suffice those
who have placed important trust In ther hands 70 b.
dsrsudsd. 1t 10 fun time something done TO
better management Ct our pnrEtsd insttaons ani
protect IN. r-AA- .raaS dishoass. agents md en
cu p!c.es
Ike receipts at tbs cos Of the Assistant Treasurer
the port to day amounted to $3.50 354 Sd psymsusa
$IC6, s25 44-hslsrce, 50 l2i, 258 10.
Thsre taies at the Ei0isg board tc.day. vi
quote for Us.er Lad Ia bid ~ asksd Po,omsc, III
BID, ASKED; North Csrohas, bid asked Futon, III
asAed; Mineral, 1st bid, A'kei; Dolly Hide, bid,
asked Phoenix Gold, bid IL ssksd McCulisck, IL bid,
1lx Asksd Conrad Hill, Ia bid asksa North~sste
% asksd MiadIstown Lead IL ASKED; Great Northern
Lead, 81 bid, sxked.
fhs buying ard selling pdcss Tor land warrants
follows -
Bissin2 S5i,Rg