The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-09-26
FINANCIAL AND CONNER ctAL.


MONDAY, Sept. 2S-sP. NJ
Tbs stock market opened this morning dun AMI heavy
We tsve not much variation In prices to quote for the
operations limited to have produced any impsr
fant Improvement probation There appe ,red to be
great scarcity of buyers and great scarcity of stock AT
II frst board Y, Central bonds declined 4 per cent
Nicaragua Transit, y; Cumberland GOAL s.; Michigan
Central Railroad, ~ Cleveland, Columbus and cncin.
natl Railroad, u. Delaware and Hudson advanced !
per cent At the second board the market was about
the same We have not duiler da. IN Wall street
FOR long tine The total sales or Erie at both boards
TO day amounted to but enc hundred and seventeen
shares closed this afternoon half per cent lower
than the oEenivg price this morniag This inactivity
cannot continue for any length OF time he stock market
may become very buOyAnt Immediately bat it sp.
lesrs 10 that causes operating which must have
favorable effect upon most Of the leading the
5is We have passed through most trying times suring
the past three four months Events transpred
of character ealculsted to test strength Of every
individual and OF every corporation and shall derive
ageat deal Of bsneat from the lessons taught by such
experience The rapid depreciation In the value
of all classes OF securities led to ton Of
ihe internal Affairs of each company to the exposure
of abuses which had long existed which nearly destroy
ed public credit and dragging the all 20 the brink
of bankruptcy, AL the efforts we have made unrcmit
tugy for years TO have the affairs of railroad and
other compaEes properly ANA economically administered
had ota % tho effect in bringing aboa result
that the Schuyler swinile had When the great fraud
came to GIT, people began to believe there
foundation for STRUCTURES, and since the most
thorough Investigations have been made iato each
pany's affairs. Fortunately it not too late. Tie
public have got their eyes open ard IL parea in.
tefesel WI only carry out the reform commenced few
months wiz suffice to place companies which have for
time past been upon the very verge Of bankru ptcy
In prosperous and paying condition There is every
thing in management Without good ausgement, sue
in anything Ia out of the question With it, tn,
poorest planned projects have proved profitable Tie
New York Central Railroad has heretofore been we'll
managed and its stock is selling at ten per cent
discount the Erie Railroad has been badly managed,
and it's stock Is selling 1T ftysx par cent discount
Reverse the management and the position of the stock
would be reversed Give the Erie com pany good
board OF directors and proper financial system and in
time the will be Eorth good more than 1t is
Without such elements it will be worth much
less than its present market value. The Erie Railroad
company is upon the OF great crisis ia its financial
affairs. If judicously managed they be placed upon
n permanent basis. If taken to provide
FOR the ultimate liquidation of its immense Indebtedness
and to arrest all further accumulation there can be
no doubt f.tve to the recovery Of the stock All this
be cone and there are enough willing to serve
in the board with brains enough to sh It, The
stock boots coFe en- Friday, the 29>h inst.
The steamship Promethous at this port from San Juan
briggs San Francisco dates to the LIST Of September
elusive and million of dollars in gold on freghs
The steamship George Law, nearly due from Aspu.
wal, With the California mail Of the st inst has about
million of dollars in gold on freight. The CONNER
al advoes by the Promstheus more favorable
thar those previously reported but the mining accounts
are highly encouraging The production of the mines
during the first eight months of 1854 exceeded that for
Ihe whole OF any previous year except 1868, and
eqrsl 20 the frat eight months of that year.
After the ADJOURNMENT of the board, the following
Gales OF stocks and bonds made at auction by A H.
Nicolav:-
@SS, 0o0 Peru and Indianapolis RR. lst mort. rs
interest acdsd .......................... IS
5000 Ohio ard Mississippi RR. I'd mort. rs, in
tssest added. .......................... 81
500 DO do. do....... ok
s 600 Toledo, Norwslk and Cleveland RR. LIST
mort rs, interest added ................ SS
1000 New York and Harlsm RR. extension rs,
interest added ......................... sah
LOCO Buffalo and State Line RR rs, int added 50
as shares Northern Indiana RR. Construction
Stook.... ......................-... S5a
ITO 90. Mad River ard Lake Erie RR... 76is