The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-06-23
FINANCIAL AND COMMERCIAL.


THURSDAY, June 22-6P N.
TIE stock market in very unsettled condition At
sAe opening this morning, but there considerable
activity at the first board and several instances bet
ssr prices were realized. Canton Company advanced
pCr cent; New Haven Railroad, u; Pennsylvania Coal
X; Cumberland Coal, Y; Erie Railroad, ~ Illinois
Central bonds declined y per cent; Chicago and Rock
hhnd bonds, 1; New York Central Railroad, l. North
Indiana Construction, NJ Harlem, u; Reading Railroad,
~; Michigan Central Railroad, ~ Cash stock not
very plenty and most of the time operations buy
srs option Erie appears to be the great target for the
bears and they have followed down with determine
Zion seldom exhibited by that class Of operators. We
have repeatedly warned them about following it down
far and the probability is that they will be serious
sufferers for their rashness. They have not looked
CLOSELY enough TO the character and quality Of
their contracts and the wide margin that appears
In their favor may prove, in many instances, of
No value That there have been no actual fail
urss yet among the bulls is astonishing. As a
general thing they have been strong and have bied
freely but must be prepared for startling
ysoancenents few heavy failures would, for a
time, produce panic in the street. but it is question
the ultimate effect would not be of favorable cha
racter The bears would be compelled to let prices up
for their protection. 1t would been much bet
Der for them had they not depressed the market much
Many of their contracts which will prove worthless
would without doubt have been good had the margin
against buyers been smaller The bears have not acted
upon the principle that half loaf better than
bread The decline in the market value of stocks has
been too great expect the payment of all differences
buyers have been pretty seriously drained, and many
must by this time be most eIectualy cleared out The
Rext movement will be failures and heavy too that
will produce panic upon panic, the immediate effect Of
which easily be foreseen. The it the
better for those who have been holding for better
times. New York Central sold freely to day
ut the decline The lower this stock goes,
the greater the quantity pressing for sale Cumberland
rs the fancest stock the list But for the depression
m other stocks, which always less affects the
market generally, should find Cumberland somewhere
n the vicinity of fifty per cent large quantity of the
stock has been withdrawn and placed in hands where it
win remain The coal tonnage for the month of June will
considerably exceed that for May which upwards of
twenty eight thousand tons Nicaragua Transit stands
well at the board 1t has not been affected materially in
market value by the scarcity of money. The July div
dend viii be large per cent the present cost of the
stock.
After the adjournment of the board, the following
bonds and stocks sold at auction by A. H. Nicoay
IS 900 Maysville Lexington RR Cd mort. AK
1000 Iy ons (owa) Central Railroad, LIST mort. 10
5000 do do do do........
IL 600 Great Western llinois) RR LIST M. int add Tx
200 shares Empire City Bank. .................S SO
10 do Atlantic Bank. ....................1 5R