The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-09-08
FINANCIAL AND COMMERCIAL.


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MONEY MARKEr.
TBuRsnAy, sept 10
The bulls had It AL their way to day the stock
Exchange. There was regular iaastion in all the
ncss but very few holders realized 1t the advance
Ne sales Of Erie were principally on time, sellers OPP
tion and the buyers those who are already pretty
well asd up with stock Their object has bsen to make
market, and to do came forward and up prices
themselves They hope to put Of ., the improve
ment ten shares where they purchase II they sue
oeed in doing, they win do well; but doubt their
ability to do 1t is avail street movement, from be-
ginning to end The bears viii avail themselves Of the
advance in Erie to put out contracts, and should
not be surprised to the market value OF the stock
lower IN three weeks than it has been any time yet
The attempts made yesterday to get up meeting failed
70 completely that the probability is NO new ones viii
b made at present II is folly TO make an effort to
bolster DIP the price Of any STOCK by for we
have never known TO be succesaful II may do for
time, and scoAssonaalv - srisidsf nay be csuehs
in the frsp; Iutsss q SesssAlas1dW D. reActs npon
the partfsr ooeossseA asf thsS stU SS@ssaty hsavy
fEess ThbtTt ~Hf ~ % - ~ a. thsrssAa ban,
ddu. Eis RxiiroaA sIssk ~ Sssmss sa,sy
N oonssqps.ce u The hasai taosrshs tenssny y ~
Sy vssnd, and q IN emesssssusats IN IT, ssaaeAi
i1ets Eesls5 NsoySsaisns = nsssissssis Wall
-
sistiBs dMcuIds5 4 b SrsA na,aHSie 70 gee up aay
permanent Improvement In the market pTee OF III
stock. Ne 60 for moment supposes that any more
dividends win be paid, and it is doubtful whether the
company can meet it, liabilities promptly It's sRoe$ng-
debt Ia a. mittone about the concern, but seeBo
probability OF its removal In October, ac:epsAnces
amounting to $3.50 with the endorsement OF Of
tho directors fall due and the payment has yet besa
provided for. The company have more property t..
mortgage. Its rolling machinery, cars, stesmboas
propelers, have all been mortgaged for loan short
date. Upon the maturity Of that mortgage the money,
100000 must be paid, principal bonus, Interest,
6c &c, &c, Of the operation Of the road win stop.
The Erie Railroad Company Is in the hands OF ndiyi
dpals who have very little regard for any other interest
but their own, and when the time comes the terms Of
Tho bond mutt be fu6lled to the pound Of flesh
Reading Railroad pretty active at the frat bosrd
but did not advance much. as others. Nicaragua
Transit vent up q per cent Cumberland Coal l. New
York Central Rsiroad, 4; Michigan Central Railroad,
Hudson River Railroad TX; Erie Railroli, an Reading
Railroad, 4.
The two parties in Parker Vein are hard at work, try
ing to get ahead OF each other The onts are making
movement to get In and the ms do not wish 10 be nut
out meeting Of the stockholders has been called At
Cumberand, and new election win be held The char
ter gives the stockholders the power TO make sny change
u
ing in the proper way The outside interest ire esous
Of having the transfer books OPEN that they go
and close all the outstanding contracts The holders
OF the original genuine stock opposed this and
DO not wish to acknowledge the issue in any way
until some settlement is made with Mr.. Jewett Par
ties are about securing proxies spurious issue
rs full four times greater than the genuine the probability
that the outside Jewctt party viii :ceed Jewett
wants the company to assume all the stock onAtandlng
and he will cancel 5000 900 of the coinpany's liza
btes, and disgorge certain assets in his control He
says he cannot get the issue returned This the
company objects to- rst because the charter only al
lows an issue Of shares and second because ths
stock overssued was sold for upwards Of 81 800 00o in
stead Of 100000 as represented by Jewett The com
pany win have to assume the ver-ssue Whsteyer It
amounts Il, If i. cancels 5000, ooO Of debt, it will be
equal to about IS per share it realized to the parties
directly in the issue 81 eoo we do no.
see how under existing circumstances the company
rive any benefit from the surplus That 10 the total Of
the spoils and the community have haa to pay it,
The vote at the meeting to be held at Cumberland viii
be In fact upon this point-Sha the company assume
the overssue Of stock and accept the cancepg $500
900 Of debt notf That IL the question and Stock.
holders should dispose Of thu proxies accordingly The
board Of brokers have nothing to do win the matter
Al the second board there CONSIDER .bs buoyancy
in the market, without much activity prices niinoi
bonds advanced u per cent New York Central bonds
Canton Company, y; Nicaragua Transit, =: Cumberland
Coal, vi New York Central Railroad, n; Harlem, u;
Northern Indiana Raiload, 1. Between tine boards Ee
advanced rapidly prices in the mo-Eiag bu.
dropped of again at the board and closed spr.es
current at tho first 80
After the adjournment of the board the following sales
Of bonds and stosks were made at auction, by A. H.
Nicolay: