The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-04-03
FINANCIAL AND COMMERCIAL.
"A o N e Y N A n X Il +.

The stock market continues to improve gradually
but steadily. The most active movement to-day
was in Erie Railroad stock, and the advance was
sustained to the close. II would not be ct all
strange II spectators carried this stock to 60 per
cent but it would be strange If they sustained II
long ct that pent. Il has, we understand, been deter
mired to pay dividend in October in stock, end to
continue them regularly semi annually, in the same
shape, to the extent at least OF the sinking fund.
II is also the intention, we learn, Of the company
TO issue certificates Of stock, with coupons for divi
dends, attached, payable to bearer, 80 IS to make
them mere easily and conveniently negotiable
abroad. This will, without Doubt extend the mar
ket for this stock, give it wider distribution, and
thereby augment its market value. A portion Of
the recent Improvement liz prices may be attribute
BILE to these things. We should not be surprised
to see the Erie Railroad la the hands of, and
managed by, foreigners, before tho lapse 0. mary
years. There are already two directors in the
board, representing the interests of fossign
ders and that interest increases it will
g quhe greater representation, until ultimately 1t
will hold controlling power and manage the entire
property-debt End all. We have great faith in the
judgment and shrewdness Of these for ign represen
tatives, and believe they will bring the company up
to It's proper position. Since they have had seat
at the Board great Improvements have been made
in the management of its affairs, and We have no
doubt they will continue The E 10 Railroad is get
ting into good hands. It Is an important work,
and those who have freely embarked their capital
In its construction should be properly remunsrssed.
Tie prospect Is certainly more fstteiing than we
have known for years, but there Ia danger OF too
rapid an Initiation in the market value Of the ssocE
AL the other leading railroad stocks were in moderate
demand, to-day, ct better prices. Railroad bonds
were quite active, and an advance was realized on
all the sales made. Illinois Centrals sold at 7sA
7ss, interest of-on Saturday, they closed ut slf,
interest on. The sales to day were therefore at
advance Of to 4 per cent Upwards Of $4,000
were sold at these rates. Fries, 1876, sold to the
extent Of $76500 at an advance Of about per
cert. State stocks were not very freely offered
today, but we notice variation in prices Prices
current at the first board, compared with those ruling
at the close on Saturday. show an advance In Mica
ragus Transit, Of per cent; New York Central
Railroad, d; Erie Railroad, Il Harlem, J.; Norwich
end Worcester, 1; Reading Railroad, d; Hudson
Railroad, !; Michigan Central Railroad, /: Mich.
gan Southern Railroad, L; Cleveland and Toledo
Railroad, Z. Cumberland Coal declined per cent;
Panama Rsilrosd, !. It 10 q curious fact that the
stock Of the Cleveland and Toledo Railroad Com
paDy 10 selling at higher prices than the compsnys
income boz d. This Ia something unusual. A most
ing Of the stockholders Of the Michigan Southern
Railroad Company has been called, to be held at
Adrian, in the State Of Michigan, on the 18th Of
April. inst, for tie purpose Of authorizing the di.
rectors, in conjunction with the Northern Indiana
Railroad Company, to consolidate their stock and
interest into one consolidated company, to be called
the Michigan Southern and Northern Indiana Rail-
road Company, and to surrender existing stock CO.,
tcates, and issue therefor new certificates In the
consolidated company. The stockholders Of the
Northern Indiana Railroad Company will hold q
meeting at Laporte, Indiana, on the 26sh of April,
for the same purpose.
After the adjournment Of the board the folio wing
sales Of stocks and bonds were made at auction by
A II