The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-16
FINANCIAL AND CONNER cIAL.


MONDAY, Oct. 15-6 P. NJ.
There quite buoyant stock marke. at the open
ing this morning. The leading stocks both sabstanals
and ances in demand at better prices and at the
close the tendency strongly upward. Erie shows
strong upward movement in fact every the list
shows an Improvement At the first board indiana SIS
advanced per cent; Virginia 6's Vi Missouri 6s, !;
Illinois Central bonds, x; Cumberland, q; Erie, u;
Reading, u; Michigan Central RI Michigan Southern,
" Illinois Central Railroad, Il Panama, Galena and
Chicago, x; Cleveland and Toledo1 New York Central
rs fell off u per cent from the opening The i'm prove
ment in Indiana Virginia and Missouri State stocks
very decided to-day with sales TO extent Illinois
Central bonds and stocks in very active demand to-
day. at higher prices. Cumberland has taken another
start. The financial arrangement just made by this
pany is very important to theBtockhoders. It
leases the company lands from the mortgage and por
ton of them be sold necessary This immense
estate has laid dormant about long enough. There
sufficient good coal land belonging TO the Cum.
berland Company to make about a dozen con-
Germs equally productive. The best coal lands in
that entire region have locked up but there
chance of their being brought out and divided
into about dozen SO good companies, each one o.
which could be made profitable on moderate capital
The mortgage loan prevented such judicious arrange
ment but that has been removed, we have doubt
of the offers heretofore made for por
Reading advanced fraction with large sales The fiscal
year of this company is nearly closed. We have the Off
cial returns for ten months, showing net income of
s2O0a $40 A. against 81 020 60 for the time
last year. The income for the entire fiscal year end
ing November 80, 1884, 81, 0l0 438 p, cores
ponding nearly with that for the first ten months Of the
present year. The net income for the remaining two
months will, therefore be much net gain the total
of last year. In the two months October and Noven
ber last year. the net income S42041 1t viii be
about the this year. This added to that for the
first ten hs will make the aggregate for the present
fiscal year, ending November &c. 1850, s2,427 75s The
company made dividend in July last Of four
per cent and it will probably make another in
January of ten per cent part cash and part stock Last
year the dividend ten per cent all in stock But for
the companys floating debt the stockholders would get
in January ten per cent in cash besides the stock dv
dend, which out of the sinking fund. All the
Western railroad stocks in moderate demand to-day
at better prices The most prominent railroad stock
the market regards price, is GaeDa and Chicago The
earnings for the present month0ctoberw foot at
least S275 OOO For the five months ending September
co. the gross receipts of this road amounted to
against $3.50 the time in 1854 s276, 2e3 in
1853 and 5000 0e9 in 1852 This increase enormous
as it is but beginning in the history of this road II
will gross, this year. than half Of its
tire capitaa productiveness greater than any other
work of internal improvement in the country show.
The New Jersey transportation Company, Camden and
Amboy New Haven and Hartford, all first class well
managed roads, and their stocks range from 125 140
cent but Of them compare in productive
capital with the Galena and Chicago
After the adjournment Of the board the following sales
of bonds and stocks made at auction by A. H.
Nicolay =
81 600 Flushing RR. I'd mortgage Int. added 5o1s