The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-07-09
FINANCIAL AND COMMERCIAL
MONEY MARKET.

u,
advance was realized prices current at the close yes
terday. Nothing particularly new or important has
transpired relative to the recent frauds in New Haven
and Harlem Railroad stocks The investigations in the
affairs In both companies progressing rapidly
circumstances win permit but il win take long time
to clear up the doubt and uncertainty that hang over
the matter The operations Of Kyle the secretary Of the
Harlem Company have been much more extensive
than at first anticipated and his ovsrissue Of stock
will not fa much short Of hafa million Of dollars Up
wards Of vs thousand shares Of old and preferred stock
have been frauduonty put out or this thirteen hun
dred and 6ftynne shares Of the preferred, and
thirty seven hundred shares of the old stock The pro-
liability Il that the aggregate win greatly exceed that
figure Parties interested waiting with almost
breathess anxiety learn the actual state of things
They want to know the worst The suspense is worse
than the reality Schuyler and Kyle appear to be birds
the same feather. They occupied the Same nest and
Matched their vllany under the same roof
statement Was made In tho Board Of Brokers this
morning that the bonds Of the Central Railroad Company
now in the market with the October coupon cut off, were
hypothecated for loAn and the superstition Il that the
party holding them hypothecaton has put them out
The loan was made for twelve months At maturty~nd
upon payment Of the money borrowed the bonds will be
returned to the company is quite usual thing for
parties holding stock hypothscaon to realize taking
factory accounts for the fast alluded to yesterday
The President Of the Illinois Central Railroad Company
has addressed to the Board of Brokers the following let
ter
Ofnu ILLINOIS CENTRAL RAILROAD COMPANY,
By request Of the Board Of Directors 81 the Company
state for the information Of the public that Mr. Robert
Schuyler resigned the Office Of President Of the Company
on the 18th July 1853 since which time he has had
thing whatever to do with Its stock books
Since that time two interest dividends have been paid
carefully prepared and within day Or two al the stock
books have been carefully the results Of which
are that single error q twelve shares occasioned
that there no indication reason to suspect that any
g. or improper issue Of stock Of hi: has been
President Of Illinois Central Railroad Company
The investigating committee Of tho Illinois Central
Railroad made the following report this morning.
OFFICE OF THE ILLINOIS CENTRAL RAILROAD Co.,
New YORK, July 8, 1854
q f nos ~ Of d.
mine the accounts Of Messrs. r. G. L. Schuyler and
Robert Schuyler with that company.
certaining the liabilities Of Messrs. r. G. l. Schuyler
and of Robert to this company and examining
hsy 4. e. tho
parties to this company this day amount to e102 0S
and that the company received and now hold collateral
securities which the committee der amply sufficient
day sell for money than they are pledged for.
S Sis;z; Ssf EsERs. Committee.
This places the Illinois Central Company beyond al
suspicion The true way to 60 at into inves
tigation and make the result public Immediately.
Another large failure reported to-day. Messrs De
IAunay, Iselin Clark ID ths house referred to- Its
stock contracts will learn, be protested they ma
ture This concern has been extensively engaged In
gotiating railroad loans and It Is to that branch Of bu
f6n n,kx
have been announced since the commencement Of the
present panic and it is matter of congatuItion that
amidst the great losses in stocks the destruction Of
fdence and the hringency in the money market, the
brokers have stood it well. few days win strength
en- those stin standing materially More deveope-
nents may be made but the probability is have
the worst As the examinations progress, there may be
found facts and frauds but nothing like what
already have discovered win turn up week will
quiet the public mind and bring about the second sober
thought
VIM G. wetmore has been elected President pro. en.,
Of the Harlem Railroad Company.
The from Europe by the steamship Baltic at this
port from Liverpool is favorable but It is lost sight Of
surrounded Is we with local difficulties Of great
moment The effect Of favorable advices from the other
side ON our markets. will not be visible for weeks
Quotations for cotton advancing while those for
bresdstufs were receding. Consols were firmly sus-
tanned and the money market continued without change
The Mercantile Bank has declared dividend Of Eve
cent the capital stock paid in prior to Japuary last
and two and half per cent the April nsalment the
Farmers Loan and Trust Company four per cent The
Illinois Central Railroad has called for the sixth install
ment Of ten per cent the loan allotted February
payable on the TIN Of August.
The stockholders Of the Madison Indianapolis and Peru
Railroad Company met at Madison the 2sth Of June,
and elected the following directors unanimously w NJ
Dunn, Philo Hurd Nathan Powell, G. s. Shrewsbury, J.
O. MarshaII, Madison; r. W. H. Ellis, F. ]. Peck J. p
Drake, Allen May, indianapolis; w. j. Jackson, Upton
George L. Dart, Peru; v worthington, Cincinnati; A. l.
Dennis, New York. The vote cast was "a $50 shares
representing stock to the amount Of 8, 231 500.
The earnings Of the Milwaukee and Mississippi Railroad
Company for the month Of June, foot up follows:
Passengers, s17,241 60 freight, S27, s46 80. Total
g. This Is the heaviest trac for any month
since the road has been operated The earnings for the
rst months Of this year. and the last compare thus;
NnwAuKn AND MISSISSIPPI RArRoAD
1853. 1854.
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