The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-03-22
FINANCIAL AND COMMERCIAL,
MONEY lark EFT.


TUESDAY, March 21-ePM
There was very buoyant stock market this morning
at the st board with quite increase in the amount
bftransactions. There number OF cash buyers
in the street. pro ably bears taking in their shorts in
anticipation Of active demand and better prices
at distant day. II looks though upon
the eve OF another speculative excitement and those
who have properly investigated the OF the recent
decline will probably be among the first TO take hold. At
the FIRST board to-day Illinois Central Bonds advanced
per cent New York Central Bonds n Canton Company,
IA Florence and Keypor " Nicaragua Transit, u; Penn
syivania Coal, III Cumberland Coal ~ Parker vein u
New York Central Railroad, u; Erie Railroad, Read
ing Railroad, 1; Michigan Central Railroad, " twill be
sen by this that the improvement has been pretty gen
ers and that the tone OF the market is indicative of
permanent reaction The favorable returns made by the
banks for the week ending the 18th has no doubt
been partially the OF the sudden change in the
course OF prices but the recent depreciation In the
ket value Of the leading ancies has been itself su
Gent to attract the attention Of class buyers
and 1t undoubtedly has TO extent. The movement
therefore, is legitimate one and have confidence in
it. Florence and Keyport is steadily moving upwards
We believe upon solid basis The prospect Of Keyport
becoming great railroad centre has created an active
demand for the stock and those who hold are by no
means disposed to SELL
prices current in the morning, with moderate demand
for stock on time, principally buyers option Mining
stocks active, and sold to much greater extent
than usual 1t is impression that operators for
Use win soon have control of the market
decided Improvement manifest at the Mining
Board this morning Lchgh has again reached II. Poto
mac looking up though still q below the point reached
ten days ago Rutherford has improved a. North
Carolina sold freely at 3X and 4. We understand the
from the mines has induced several large holders TO
offer their stock In the The bids WERE for Cum
berland, 321s for Ulster, 1H for Potomac 81; for Hi
wassee 81 for Boston and Pttsburg 14o for Copper
Falls, 6S for Phenix Copper, for Windsor AZ for
Flint Steel 81; for Fulton Is; for Mineral for Al
gomah 4 for Gardiner Gold 21I for Phen1 Gold, -
for McCullock, ~ for Conrad Hn 7Oc, and for Gold
Hill, 81.
One of the trustees of the Gardiner Gold mine reports
that he has recently made fresh examination Of the
property and finds that the whole quartz range richly
auriferous For distance Of upwards OF two miles, he
found gold everywhere by panning the soft decomposed
matter and in taking the results Of these experiments
basis for caculotion he finds that this decomposed
matter would give the yield Of 5000 to the
If these results verified by the actual workings the
Gardiner company viii be more fortunate than most
Southern mining companies. .
We have seen piece OF gold bearing quartz from the
fine specimen any that have from California.
A few barrels such stuff would do well.
letter from the Phenix Gold states
Everything progressing finely regards the raising
Of The barrier is turning out some Of splendid
quality The vein is richer than BEFORE and Is daily
increasing in size We commence this morning in sink
ing within shaft at the Orchard mine. The two
runners for Gillian mills are the ground;
both will be up in eight ten days We shall then have
Mt work two Gillian mills and six heads of stamps capa
bic Of crushing and grinding at least treble the quantity
we have heretofore been working
New companies being formed daily to work gold
mines in the south 1t not possible to doubt that some
few OF them win do well. But the great majority
fear which start with enormous capital and expen.
sive machinery the strength of few promising
face Indications destined to end in ruin to the stock
holders and little disgrace to those directly nstru
mental in introducing them to the public They njure
the interests of mining throughout the country and
damage the character Of sound enterprises Of the
nature
The Cumberland Coal Company have elected another
President, Mr.. Andrew Mehaffey Mr.. Douglas who
elected few days ago. found after examination of the
affairs Of the company, that his health bad, and
cordngly resigned We trust that Mr. Mehaeys consti-
tuition is sound.
After the adjournment of the board the followin !,
stocks and bonds were sold at auction by Simeon
Draper
g, geo Peru Indanapols RR, LIST mort int add ash
10 New York and New Haven RR ....... 1907
~ Francis Metallic Life Boat Co.. SO
A. II. Muller Il Co.'S regular weekly auction sales of
stocks will take place at the Merchants Exchange at
half past IL o'clock tomorrow, Wednesday, the 22d
instant.
The receipts at the Office Of the Assistant Treasurer of
this port to-day amount to $4 251 the payments
500, GA 70-leaving balance Of IS, 112,495 81.
There of failures down town to-day.
Belgian house in Beaver street and jobbing house in
Cortlsndt street. named
The tolls on the Illinois and Michigan canal now OPEN
have been reduced full thirty per cent compared
with last year.
The operations OF the Treasury Department
Saturday the 18th instant, we're as follows
For redemption Of stocks. S4752 81
For the payment of other Treasury debts. 1924 43
Covered into the Treasury from customs. 6s2 642 20
Covered into the Treasury from Lands. 129 $50 70
Covered into the Treasury from miscelanc-
For the War department 17s,oss o.
Tor rcpaying for the War Departmental. IL, 1916 04
For the Interior Department. ..........,. 33455 70
The quantity of sugar in boxes exported from the
island of during the year 1863 with the ports Of
shipment, folows-Havana, 1852, 112; Matanzas,
81 3oe Cenfuegos, 1917 800 Cardenas, 12sa7; sagua
Ia Grande 99Os9 Trinidad 1880; Santiago de Cuba,
o. aSs; San de los Remedies S0440 Nuevitas 49,
TO santi Spiru $751; Santa Cruz, si3. Total boxes,
1861 ,o96.
II appears from compilation Of the returns made by
the railroad companies of Massachusetts, to the Legsa
ture that the State intersected by lines Of
which all but eight in active operation. The aggre
gate capital Of ftyfour of the railroad companies is
900. The aggregate amount Of capital paid in is
s4s OPS $40; and the whole cost Of construction was
SCI 7ss eo5. The aggregate length Of these fyfour
railroads is AIS miles of which 307 laid with double
track The earnings OF thirty five OF the roads dur
ing the past year IS 442 expense of working
s., 2o2 $50; net earnings s36ls,552. Dividends
declared to The amount of 62 255 by twentysix rail
road companies The debts owed by thirtysix of the
siStyone railroads amount TO 177ls,3A. The number
Of lives which were lost during the year past by acct