The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-08-24
FINANCIAL AND COMMERCIAL.
MON Ev MARK Il II

WEDNESDAY, August 23-6 +. N.
There small advance in most Of the leading fan
ces at tho srst board to day, with very extensive opera
TONS Erie and Reading Railroad in active demand
several ,housazA shares changing hands. We the
sellers Of Erie tine have not been inidatsd by
heavy Decline but continue to put out contracts freely
at every stage of the market. Reading purchased
largey today ON time, bayer's option At the arat
board Erie went up 2S per cont; Reading Railroad TX
Harlem, Cumberland, u. illinois Central bonds e of
per cent Nav York Central Bonds, NJ Canton Co.. u;
Cleveland and Toledo, g. New York Cont, al Railroad "
Michigan Central Railroad, r.. The upward movement
in Eric Is merely spasmodc, and must react All
the and reports the auagen choose
make, viii be of avail Thu stock has been com
ly used up The Pile Of indeb ednsss is neat
that it never be made productive. Dividends re-
entirely cut of tho question fer all future time,
end the ock q fapcy win be somewhat ~
ni]er to the Norris Canal How the income
bonds TO DO disposed OF il matter Of iDpox
tance al bough far the stockholders
it will mako very little difference That tho income
bonds i'll h provided for In way By the Of
class OF bonds, for . moment don5t bu,
at what cost, at what ion TO The present indoe
is affair If interest to other bondh aers
We have doub. hat at least half million Of dolars
will be ado ell to the debt by the aoancisrnz necessary
male the change. This will BIO IN additional burden
before, IL does not matter how fast II accu-
,pulass The debt has for time past absob Ill
the net earnings and from this Il the e.ock viii
be worth no.hipg l. vestu emit For speculative
purposes 1t VIII be worth something but hereafter its
market value will depend entr,ly upon tho movements
Of the bu and bears The New York Central Railroad
has been quoted steady lately and operations limited
It fell of fraction to Jay, with only modsratosalss.
Ultimately this stock is dcs'i ed TO follow the
corrse with Erie. At present its debt sma compared
wi the amount Of s,cck 10 EXISTENCE but the time is
not fer distant when the debt will exceed the stock, and
then whole net earnings will be bed in the pay
nent Of interest u ey in the Erie Company.
The Metropolitan Bank to day called the agent Of
the Lewis County Bank for security to insure the
dempton of Lewis County Bank notes. Outsiders
should lock upon this movement tanamount to the
fnure Of that hank II their notes not good 10 the
Metropolitan Bank without security, they not good
TO the public We learn however, that kessrs. stanton
and Wilcox the scents pledge themselves ~ redeem AL
tho The Bank Of Carthage has been pro
tested at s agency Albany This In times like these s
indicative Of least The broi 10 Wall .est
touch cautiously the notes OF the Bank Of Milford, Dol
This is sort Of horse n and lives conf
dence Western money has been taken Wy the brokers
freely at ~ per cont discount except Indiana which
has teen sod, generally speaking, at per cent.
AT the second board thcre better feeling In tho
market and advance in prices realized. Erie
Railroad weDtup1 u per cent; Reaiing Railroad u Hsr
lem, |; Cnmterlsnd Coal, X. New York Central Rail
read, declined e per cent Canton Company, L. Tho
pspic in Erie has partially subsidized. We know not how
soon I, may BE- renewed agaio
The steamship Arabia, from ths port fcr Liverpool
DAY, carried Out ST. cas in Specie principally in soll
bars.
We have been requested frequently pot 10 give pasii
city 10 Which have got aHoat relative to the sus
rengon or certain honses, would bring about The
very difficulty advisable 70 avoid. There are fcw
camille honses in This city matter bow high their
Sis that could bear up long under reports widely eirna
ated that they bave failed and Ii Il therefore vroay 20
give currency 10 soch runners We have made II a rnle
never 70 mention whcrc suspensions have occar
red except in extraordinary instances and parties con
eeTrei need have fears that vague reports win find
place in columns IL does very little good and gene
rally does great deal Of HARM to publish such ramors
and the press NIL large cities particularly would be
more cautious should not hear OF 50 many actual
'ailuros Croft 10 very sensitive thing to deal with,
ard the pols cannot be too careful giving currency
to ursourded reports.
An Nieolays regular semi weekly auction sois Of
stocks and bonds will take place, usual to
Thursday) at 12S o'clock at the Merchants Exchange
The operations Of the Treasury Department The
2Ist inst. foliovs:-
For the payment Of Treasury dcSts....... asa 90
Covered into tho Treasury from lends $40 AIS u
For the War Dee Artnant Observation-Disclosures. T0ls 90
For The Navy rartment................ 633il a.
For rspayiug for the Navy Departmental. 2GS52 90
For the Interior Department. 5000 90
In the United states Dstct Court at Portlana Maas
on s,orcay two important decisions entered In re-
a.ion to the York and Cumberland Railroad Tho arst
wrs an award q the referees upon suit COR o cou-
pom on a boud, which defended By the com
rany rs bong Illegal, being Of those com
mony inewn the Heuick bonds. The award
in this case in favor Of the Plaintiff thus vrtaaiy
Affirming tho validity Of thess bonds. Tho second was
the inward Of Nathan Hale Esq sole referee ia The
ms,icr % Inc action brought against the company by
~ Myers contractor This avail a. th+t Tho said