The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-08-30
FINANCIAL AND COMMERCIAL
MONEY Market.
TUESDAY, August 29-6


Quite i'm provsment in Erie Income and Convertible
bonds realized at the FIRST board to day Only few
small lots sold Illinois Central Bone were in &C
tive demani, and prices Auctuated considerably But
for The amount Of these bonds pressing the Market
much higher rates would rule. They closed at i'm
provement Nicaragua Transit has been buoyant within
the past day two but the advance has not brought ou
much stock There Of arrangement with the
Vanderbilt line via PaDsms but believe nothing has
been definitely determined Erie Railroad stock Il
heavy at quotations. There good many cash
sales to day. in small lots Reading and New York Gen.
trail COZ tnue pretty Arm Reading has been for
past active Demand and the buyers time have
taken . good deal of stock II Is somewhat strange
that Harlem does not actively. Since
the opening Of the books the transactions have been
only to a limited extent, without much variation
in market value. It l. i1ered very cheap
stock ct present prices, and hoiers exhibit dis
position TO sell We njerstand that the required
tce has been given for annung the contract with
New Haven Company for the trsnsp ration Of cars
L, and the time expires equitable
arrangement win be made. The Harlem Company have
only received about sixty thousand dollars per annu
from the New Haven Company, for not only the Of
about twenty miles Of road but for immense
Of labor The Of the road alone Is worth than
double what the New Haven Company pay, and in any
contract made the Harlem Company win derive some
benefit from IT, would be better for the Harlem Com
pany to shut Oh the New Haven locomotives altogether
and mot let them come below Villa ms Bridge. Tho
Harlem Company could thus do eli the business below
that point the New Haven Company paying much for
each passenger taken from brought to their cars
This ID the system adopted BY tho New England
panies, and the Harlem Company would adopt IL,
streets would be relieved Of lsas. half Of the long
cars, which interfere 20 much with the city travel
The New Haven Company have for years used the Har
lem Compsnys road and have paid almost nothing for It.
The Erie Railroad Company have offered 70 mortgage
to Mr.. Vanderbilt any other set II men, the
entire rolling property Of the for their endorse
ment hundred thousand dollars Of the COMPANY
paper for the purpose Of raising the money to pay of
the september interest its bonds and that portion Of
the floating debt which ct present most troublesome
This offer has not Jet been accepted and nothing in rsa
ton TO the financial dcuiss Of the company has been
contaminated. We doubt very much If Mr. Vanderbilt
any other shrswd palis would take such security
for such large sum, the and locomotives would
be useless any where else than the Erie road fol
lows, day follow light that whoever takes
'uch mortgage would have TO take the property. Mr.
Vanderbilt would BE- as good man to take 1t any
other We know Of, for lie cord drive pretty sharp
bargain with the holders Of the st mortgage bonds who
ultimately viii have to operate the road. Mr.. Wander
bit has been called upon for aid after every men,
pef OF the Doeru OF rutcVors, except Mr. Drew,
declined 20 come under any further responsibiltr,
and he backs out rally do not know what win be-
Of The once magnificent Erie Railroad Comp my.
where all the great Anancisrs who used to congre
gate In the directors OF this huge concern and put
forth their sdic with all the pomposi'y Of the Grand
hogulf where they now We do not them
striking about the streets, snnihsting all the little
bears BY look. Verify, their occupation 10 gone, and
they have given plAes TO set ohuDsry creditors who
anxious 10 get portion Of their claims before the
substances ID all svspt Asay By shyiock It is
that their from earnings have been largely
ovsuatsd. appears that the estimate for July was
for ESQ., 0oo whereas the actual income amounted to
only slls ~ 50, showing dsreacs Of sias55 This
Is the reason doubsss Why Of the directors back
Cd cut and II Il enough. We shall all Of
be behind the scenes when shall the rough and
rotten machinery which has 20 long moved this ponds-
rous pa Of liabilities
Al the Arst board today, Erie Convertible Bonds ad
vanced per cent; Erie Income, 81 Cumberland Co., 4;
Nicaragua Tfaast X; Cleveland h Toledo, i; HUDSON
Convertible fell of NJ Y. Central Bonds Nj Erie Rail
road, V. At the second board Nicaragua Transit went
up per cent Erie Income Bonds " Erie Convertibes
n NY. Central Railroai, II Cumberland Coal, Il; Re4
ding and E,ie declined . fraction.
In our bank tabls this morning the amount Of specie
bald BY the hstopehtaa bank was put down at GILL;,
At7 7s instead Of s471,lb7 10 The error was typo
graphical, and we hasten TO correct II. nsf
1hs dss.sAip A~srses, nom Bestsn 70, uvsrpco, 70
Se"S-WsenssSAS-vM he sut sbsst ~ Asiu,ss