The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-06-22
FINANCIAL AND CONNER cIaL.


WEDgEsDAY, June 2l--o L. NJ
slight reaction in the stock market to day
rhe movement at the opening actively upward, but
ii grew weaker at the At The FIRST board, Cumber
yand coal advanced i per cent; Nicaragua Transit n;
N Y Central bonds, 4; Canton Co.. u; Hudson River
Railroad 4; Reading Railroad II Erie Railroad, u
Michigan Southern Railroad declined percent There
we're large transactions in Erie buyers option and Il
She bears not careful they win find themselves
short for comfort At present prices spectators will
buy without any regard the actual the stock;
sDd this may not only arrest tho downward movement
but put up prices If Erie stock had depended market
,ase entirely upon its merits It would selling no for
loss than City per cent? but it has been held so largely
BY spectators aud has tue football for both bulls
wsh Auctuates frequently ten fifteen per cent
many days. TIE bears may make great mistake in fol
owing lrie down much farther It may upon
shem and trouble them exceedingly The reaction
to-day pretty general; bat have no idea that
viii be permanent After iaucy stocks have been for
sometime steadily settling down. then comes pause,
hill, heavy, inactive pefoj when lis
posed bay cl ana dal pressed state Of things
prevails during which generally appears though all
speculative Spirit deal--as though another excite
men in fancy stocks utterly out Of the question Wall
street becomes deserted by outsiders aud the
load unproductive securities rests in the nanis Of
those little able carry it After while part
sulsr fancy will start, another Win follow,
and until We find N active movement going aud
SPECULATION ag prevalent. These excitements appear
ana disappear without any real Fancy stocks 60
~ ana Gown, no one knows why wherefore, and no
but specula,ors The decline which has been
SO rapid for days past viii not continue much
bigger; but the depreciation will become chronic, and it
VIII lie very difficult TO get up another imitation The
present depression viii confirmed By the growing dis
gust in tie public mind, and those who have been
soueLt with productive stocks in hand will have to
ttut themselves with .leir divi ends, but those who
unfortunate hold unproductive fances
high prices had better carry them at moderate sacri
ices with the hope of tey making heir losses
pretty certain that the stock market cannot present
gloomy aspect than at this moment. 1t matters
hitle What may be the state of the money ket,
tue position of commercial affairs the decline in stocks
Las about reached its minimum. We speak OF prices
generally. We cannot answer for certain railroad
which have real value but it is our impression
that buyers at rates, sixty and ninety days
will make money by rise within that time
The steamship Canada, at Halifax from Liverpool,
brings one intelligence from Europe. The
does not appear to be, so
Tar judge by the Geographic dispatches OF the
slightest portance. Breadstus lower and cotton
higher but the variations in quotations trifing
Consos had declined fraction. We have details re-
gsrdipg financial affairs, and cannot, therefore, speak
adyedly IL is reported tnat the Bank OF England nau
Increased its bullion in hand This is just the
what have anticipated, and doubt its truth Po
Hcay the advces do not differ from those received by
the last half dozen arrivals
The Chemical Bank has declared dividend of six per
cent The Providence and Worcester Railroad Company
q semi annual dividends of four per cent.
The amount received at the Office of the Assistant
Treasurer United States for the port of New York.
This day. June 81 1854 $4,000; amount paid out
$50, 992 90, leaving balance on hand Of 2S
The operations of the Treasury Department
Monday the 10th of June, follows -
For the redemption Of stocks 3S4S "A
For the payment of other Treasury debts 545 445 63
This sum was to supply deficiency in the
act of May 3lst, lS54.l
For the Customs Observation-Disclosures. $50 90
For the War Department .............. 1877, 9l9 90
Covered into the Treasury from Customs Oh 90l 81
to,eret into the Treasury from miscellaneous -
sources. o,oio oo
The Boston Transcript Of the Goth inst. says-"The
market very quiet this morning., with better de
ani for of the fauces, particularly Central and
ogdensburg both of which closed firm. The bears
hammeriug Wilmington pretty hard with fair pros
pect reducing the market value, unless some OF its
friends come forward and support it, Dividend stock
are generally heavy Worcester declined to 96 exdiyi
send; Fcheurg S6& asked Eastern sales at Tx div
on: Boston and Providence so div on payable Oct l.
with interest Northern de clined to 4o, under forced
sale of few shares, but rallied again and sold at Il,
seller six his the being bid regular at the
close Western in demand at % bid, div on, with
out sales Copper shares active, with an i'm
provement in Minnesota, North Western and Copper
Falls Dana and winthrop declined. Land stocks are
heavy, and sell at reduced rates"
The Delaware, Iackawana and Western Railroad Com
pany has called for further instament of ffteen per
rent payable the lst of july at the Phoenix Bank in
this city. The Managers have resolved to pay the s. c
holders the 10th Of July next interest at the rate OF
six per cent per annum, to be computed to Jun 80,
1854 on all stocks issued nsalments received pre-
vious the 1st January last from December 81 1853,
and in instruments received during the present year from
the dates of the respective payments, where no install
ments which have been called for remain unpaid.
The stock Of hemp in St Louis it is stated is not
far from 5000 bales Say $500 in store unsoii 1890 to
sos sold and in manufacturer hands, 500 TO 900 at
the evee and ahoat The total quantity the market
unsold is between 5000 and 1000 bales. Tbs is
good supply for early day in the season. and
less shipping facilities increased, the stock, it is
thought, must continue TO accumulate.
The banks of New Orleans presented the following
dtion at the close of the week ending June TO- 1854
BkHEs NEW ORLEANS.
lgiit