The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-28
FINANCIAL AND COMMERCIAL.
MONEY Market.

SATURDAY Oct. 27-6 p. H.
The market was feverish this morning with slight ad
vances in some securities and falling oil IL others
would undoubtedly have been bull market but for the
report soon after the opening Of the first board Of two
or three failures. The number aimed after the
close Of the second board be but and that not
very large or very bad. Erie, after falling from
50x to 49K recovered to ss caiena and Chicago sold
at III cash, 11S buyer 30 days We understand that
teesphc despatch has been received TO- day from Chi
cage to the eec that the rec1ps for Ostober viii
coed $500 COO We should not be surprised to see dvi
dend of twenty per cent the LIST Of February (hsf
cash and half stock instead fifteen The party who
sold two thousand shares short about days since will
probably have good time OF it in buying them in.
Michigan Southern advanced one per cent closing at o.
The receipts OF this road, informed, will exceed
e325,0o for October If half the effort was made
by the Michigan Southern TO obtain business that
made by the Michigan Central the receipts would be
twenty per cent larger The Michigan Central Is Of
the best not the very best managed roads In this
country far getting business Is concerned There
is not point the face Of the globe where the slightest
omoant Of business be expected that the Central have
not agent with orders to IL at any price, With
out the genius OF the Michigan Central much of the bust
which goes the Great Western aud New York
Central would be lost close alliance and leag e oen
sve and defensive has been formed those three
companies, the soul and spirit of which Is the Michigan
Central, rather Brooks, its Superintendent He d.
reefs, and John Bull and New York Central pay Its
not long since that satterhwaith polluted out IN his cir
cuar from London, that New York Central, Great West
and Michigan Central had be regarded abroad
as the great route between the Atlantic cities and the
West. If Brooks net al the bottom of that
9 first rate noti,en We are very much mistaken.
But nature, may be seen by glance
at the map, is against this Northern route. Within
eighteen months sLar line completed from New
York to Chicago by way OF the Jersey Central and
Rennsyvapa route through Cleveland at least hun
.dred miles shorter. In the mem time the Michigan
Southern and Lake Shore roads might by throwing OF
.lttle Of their dignity aad taking pains to
business, easily turn the tables Michigan Central ad.
vanced to-day u; Missouri 6's u; Illinois Central rs
"a Chicago and Rock Island closed firm at 90-the price
of yesterday Nicaragua advsn u, with large sales,
Cleveland and Toledo declined I; Reading N Cleveland
and pittsburg, az; Panama, 21s; Cumberland, r. We
heard Of sales of 200 New York Central at SS and 100
at So.
As we predicted, the late panic is having good
effect Parties inclined to look closer to the intrinsic
merit Of their securities Stocks that pay sound dvi
dend that safe and profitable to hold under any cir
eumstances quickly while those Of precarous
doubtful fancy nature must drag till all remembrance Of
the fright il obterated. We little surprised that
there not notice taken Of bonds There many
KolrOd0 OonOB ON E1ArkoI NJ egnCy 10
Eve per cent which, In point Of security, good
a first mortgage the Astor House for
thousand dollars. This is pretty fair investment for
sevenue and in these squaly times for those who have
money to risk, perhaps betterbecause saer-than
any stocks II does not follow that the stock of
company bad investment, that its bonds must be
too We point to millions Of bends nich per-
ecty safe while the stock II the companies is not worth
. straw. But when bond in addition to its FIRST lien
the property has double the amount Of stock be-
hind paying ten per cent profit and upwards and sell
ing in the neghborbood of par such bond must beyond
all question be perfect security.
The Lockport Courier announces that J. w. Fitch,
William NJ Ianmsn and William Waters have obtained
judgment Of ss5 $50 so against the Lewiston railroad
Does not the New York Central foot tins bill We
Iy inquire for information
By the Ariel we have Saturday mornings quotations,
Zone DAY later than by the Arica which show slight
improvement in consols. The London Tines second ed
ton Saturday morning IL O'Clock, quotes:-
r. <~~~ a.