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

MONDAY, June Do III,
With about the usual amount Of transactions prices
were not sustained at the fret board TO day All the
leading fancies sold freely at our quotations New
York Central Railroad bonds declined per cent Par
ker Vein, y, New York Central Railroad, Erie Rail
road, u; Reading Railroad, u. Harlem advanced u per
cent but only small lot Sold The market gene
rally 10 in bad way AL the Indications in favor Of
lower prices in tho leading speculative stocks with per-
haps two three exceptions Coal companies 10 active
operation must be excepted and Nicaragua Transit
also be placed in the position Railroad stocks we
have faith in and cannot point out the list
that not selling for than it is WORTH higher
prices than they win command twelve months hence
The New York Central Company is out with begging
circular in which the finances and earnings present and
prospective placed in very favorable light The OBJ
jest Of al this is to raise the companys credit put
OF large amount of bonds at the highest price The old
isue Of bonds by this company selling at discount of
fourteen per cent and the probability is that the new
issue win not be received with any The stock
sold 10 day ct premium Of two and half per cont The
difference between the price Of the bonds Of the
STOCK in the market is great that it is somewhat
strange that the management do permit the stock
holders subssrite for convertible bonds subject to
immediate conversion, inasmuch any converted
into stock would not only reduce the indebtedness of the
company but would add increased security the pro
sent creditors The only objection to this the depre
cating effect such issue would have upon the market
value Of the stock The amount Of stock already out is
about fifteen millions Of dollars, and Just at this time
great many objections doubt exist against increasing
IT, It viii be by quotations that Parker Vein has
touched very low points Quite contest has going
on for time past between the ms and the outs about
the approaching election The outs have making large
archases to get into the management and the ms
have been doing the to hold to their places The
prospect at present "a in favor Of the ms the
of the depression in the market value of the stock
few days win settle the question. Erie Railroad was
sold largely TO day at decline II docs to have
many friends at the Stock Exchange and the bears are
steadily driving at IT, We have noticed occasional sales
lately Of the stock OF the Brunswick City Land Company
II s long time since have had much activity In that
fancy, and suppose the sales lately made have
something 10 do with the following announcement
which from the Savannah Republican Of the 1st
instant
We acknowledge tho receipt Of invitation TO be pro-
sent at the opening Of the Brunswick and Atamaha Ca
nal, which takes place to-day. We learn that boats
AID fats win be in readiness 20 leave the lower lock at
10 o'clock and win pass through the whole length Of the
canal twelve mes) and return In the afternoon Sege
raj RATS Of timber will also pass through tho canal from
The Altamaha river to the port Of Brunswick at the
sane tms and their arrival viii be announced BY the