The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-06-09
FINANCIAL AND CONNER ClAL.
MOsEY MARIxEr.

THURSDAY, june SIS T. NJ
There rather a dull market at the first board
today notwithstanding the steady advance in consols
reported by the Arctic The brokers are always so
anxious to learn by every arrival from Europe
the price Of consols, that would think the
ment of tho stock marlet here depended entirely
upon advance decline in the British funds;
but attery that influence appears to have been greatly
reduced At the took f. change to day the tendency of
prices downward, from the opening to the close
Canton Company fen off IS per cent; Gu nberland ii
New York Central Railroad, = Erie Railroad, d; Read
ing Railroad, II; Hudson River Railroad a Cleveland
and Toledo Railroad 4. Mining stocks have for
days past been much neglected. The sales made have
been at lower prices and it has been almost impossible
to find market at any price for most of those the
list The market has been fairly flooded with stocks of
this class and nearly every Spectator has hand large
lots OF scrip, which is almost daily deprecating There
are few very few exceptions and those seldom offered
at prices calculated to attract outsiders OF the large
fances, Cumberland and Nicaragua in the active
demand, and appear to be well held. Both companies
win declare dividend of four TO 1--WE per cea each
out OF the net earnings The bears viii not, OF course
believe this, and they will say that the capital each
case win have been increased to The fa extent Of the
payment We are, however, assured by parties entitled
TO the highest confidence that both the Nicaragua and
Cumberland companies have already ia hand sufficient
funds to pay the dividends named that IL will be d.
vided among the stockholders at early day. Ac.om
panyiug the declaration Of the dividend will report
setting forth in clear concise manner the operations
aud financial condition of each company. We have
in our time, coal companies much depressed and
abused the Cumberland advance from dfty AMI sixty
to one hundred and sixty per cent during which the
bears were strong aud decided their assertions
that il utterly worthless they are now Ia relation
to Cumberland The result in the present case is likely
to be the same and it is only matter of time All coal
companies doing large business under proper manage
ment cannot help making great deal OF money There
never time in the whole history of coal mining
in this country, when the material command.
ed more remuneratng prices than at the present and
if the business Is not profitable it never will be
The Delaware and Hudson Coal Company has just de.
claree sem:annual dividend Of dve per cent notwh-
standing the delay the transportation of coal caused
by the great freshet. The Pennsylvania Coal Company
has, for sometime past, paid semi annual per cent
dividends, and immense private fortunes have
in the production Of coal The Cumberland region il IN.
commonly rich in d posts Of The best qualities OF bitun
coal the consumption Of which ia increasing so
rapidly that existing facilities for furnishing made.
quate to the demand. Prices have therefore, advanced
and here is profit every ton of coal brought to
tide water The only thing now required e to bring
down enough to make the capital employed productive
This is in fair way Of being accomplished by the Cum
beraEd Company. As regards the other coal companies
in that district very little of favorable character
be said at emit Most OF them engaged in mining
but On small scale and, matter Of course, do not
than pay for the labor employed few years may
bring up some Of them 10 very prominent position.
After the adourr ment Of the board tho following stocks
and bonds sold at auction by Albert IL. Nicoay:
$1,000 Great Western (Ill) RR los LIST mort.