The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-01-24
FINANCIAL AND CONNER GAL.
MONEY MARKET.


The stock market was not very baoyaat this
morning at tie opening, and became still more de
pressed towards the close. IL the fapcies there was
not much activity, but railroad bords we're freely
oiiered q. lower prices. Illinois Central bonds aud
Erie 1875 bonds were operated In TO some extent.
The sales Of Etie bonds were principally on time,
buyers option. The sellers do not appear to have
the fear Of the sinking fund before their eyes, or
else do net believe IN Its powerful influence on the
company's indebtedness. Illinois Central bonds
baye fallen OF since the closing up 81 tie loan
and The probability ia that, ~ soon ~ the arst In
sialntnt 10 secured the market will take different
turn. Prices sustained for the purpose Of making
good show the other eide The present state u the
bond ard stock market Is entirely artificial rhe
idea Of two large railroad loans like those repre-
seLted to have been taken for tie Erie and Illinois
companies, In the existing state Of financial Affairs
Is utterly preposter 1us. The rates were fixed low
enough al 20 and 80 per cent, and the amount
filed up according to the programme but /. is our
impression tina. the result will be very different 10
that represented. The times are too much out OF
joint, and the future filed with events OF such
character, a. 70 prevent such an exhibition Of con-
6det &c IN railroad securities OF an equiyocal eta.
racter, under even the m)r favorable crcum-
stsTcss II VIII go 70 Europe tomorro~ by the
steamship Baltic that both Of these loans have been
taken ard the circulars OF foreign agents here viii.
without doubt refer 70 II a. evidence OF
the confidence cur people have In these
works OF internal improvement II will
cotbtsss be fayorsbly commented on by those
WHO have prevailed upon foreign capitalists 10
make bids, and tie market value here presented ~
q csnfImaiion Of their statements. The eifet Of
this may for time be sitirfactory, and those who
are not acquainted with sh1 mJdIs op.raadi OF
q ling up loans TO railroad companies "a ,gig side
Of the Atlantic gill, wi,hou. doabs, con Jude ths.
the investment In u a very superior order The
great exertions made 70 nll up t1s nss Erie loan
isye emsnsted from tho sho were large holders
Of the Income bonds ard 81 Tie STOCK and Il there.
fore b.osms important thst nothing shoald occur /,
d,presia:e their old investments. Tho oaly alter
native w@ 10 belp along the neg loan, snd they
were therefore, In fsst complied u subscribe % IN.
gre the paymen: OF their iGcome bond, and 10 pre-
ven; The stock from going entirety ont ~ sight
An this does not aDpsar in the Official repor. In
the case Of the Enc Company The bids an united ',
Just u oil 900 for loan Of 1900 600. pretty
cLse calculation, considering the bcs were sent 10
scale and optued q: hxed hour. Ne shall never
lear u any delinqnent smong bidders, for the
cspIaoy will assume any dea iency, and pat IL on
the market whenever required. The Illinois Central
Company do up their GnsEces In dlffren, way.
They sbnruuce can. Ut prices be OF all others.
receive subscriptions, and In fev days II sre.
ported that the whole amount required has been
taken, and there the matter 90 far ~ the pubd; IL
cotcerped, erda The Illinois Central 10 conpsra-
lively q neg company. II has MT ye, had %
much hnanciering ~ the Erie, and css do things
up mere bodily. The Erie Company has had ia
day. A fe~ years since Il could wAt into
the rounds Of the Ex shargv At half ps.. twelve
O'Clock and before one run Oh three millions Of
BOMBS under the hammer. AZ ninety per oent u
vss then IN Us bes; credit. and wss sirong In re
suroes. Nov fis weak and siekIy; al IL res ,uroes
have besn exhausted, and n bss been docisrd nigh
unto death. ~ life blood has bsen freely p ,ured
out 70 sCssan ~ credit an; nitrate unf there 10
nos ssoush leit 70 recupaerxs. upon The iiliSois
CensiL q Jet yoong and vigorous u hs snors
49, ..puto. itch, u prcgs.', hasbsh lei, vi