The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-23
FINANCIAL AND CONNER CIAL.


Just in very unhappy state Of mind. They did not
take hold Of the fancy below % to So per cent and made
large purchases above that mark. At present prices
they must be heavy losers, but the end is not yet
There about thirty thousand shares Of Erie
stock in the market principally in The hands
of brokers. In absorbing that quantity, prices
advanced from so to SO 81 per cent; in disribut-
ing it prices likely to down from Sc 81
to the neghborhood of 40 per cent The combination
have found it easy enough to buy, but they win find it
more difficult TO sell. AL stocks were down to-day.
There was general Decline but the better class of
rites not forced out in large quantities Reading
sold to the extent OF nearly three thousand shares at the
Decline and closed weak. Hudson River Railroad must
gradually bat steadily fall off until it reaches about the
point Harlem is selling at That s more than it is
really WORTH but low priced speculative stocks
wanted more less, it may hold for time among
the wenties The stock Of railroad company that does
not pay it's operating expenses and interest its debt
cannot command very high price in the market Mica
ragua Transit sold at II per cent to-day The fact that
the company made it out few days since 10 be worth 30
per cent, has not had very favorable effect the
market Illinois Central bonds sold to extent this
morning at lower prices. The sales up more than
500 000 principally for cash. Erie and Hudson River
bonds offered freely State stocks we're wen main
tanned The sales were only to moderate amount.
Michigan Southern, Michigan Central, Chicago and
deraby lower than those ruling at the close Saturday
These all first class railroad stocks and at this
moment, in view of serious financial enbarrass-
ments throughout Europe, unwarranably depressed.
They firmly fixed ten per cent dividend paying in
vestments, and should be selling at premium instead
Of at discount.
The quotations current al the first board to-day,
pared with those ruling at The close Saturday, show
decline in Illinois Central bonds of per cent Chicago
~. nal IJ,.la =
Nicaragua Transit l. Canton, III Cumberland, q Erie,
IL Harlem, u; Reading, i Hudson River Railroad, Il
Michigan Central l, Michigan Southern, IS Panama. u;
Chicago and Rock Island, M Cleveland and rcledo l.
There sales of alena and Chicago AT the board
110 bid-11911 asked. New York Central was freely
offered at 90 per cent at which there were large sales
There quite excitement in the street
among stock spectators, and after the board
stocks we're freely offered at lower prices. CONT
dence in the future is rapidly Disappearing One
OF contemporaries upon the authority Of old fin
ancier, predicts fall in sterling exchange six per
cent. Of what service viii it be to this country, ii
ling exchange should 60 down to six per cent, # bills
were much d;screjited that wouli buy them2
This Is the difficulty. We already gold going to
France account OF the dscredt OF bills and it is
ported tina. NEARLY million will 60 out in the Cunard
steamer from Boston, on Wednesday. With sterling
change at per cent there certainly should be ship
ment Of specie, under the usual laws OF trade but para
mount necessity exists. All laws Of trade
set at defiance The governments Of Great Bri.
ain ana France must have gold al any cost, and
long as we have any 70 sell, an bng
the present necessity exists, long will 60 forward
The next Liverpool steamer-now nearly due at Halifax
will not only bring confirmation OF last adv.ces,
but accounts even disastrous, both in q financial
and c, numerical point Of view. Another advance he
rate of interest by tie Bank of England may be expected
very soop and the gold movement in France may have
produced panic rs fearful in its effects upon the
lower classes the political revolutions have
been the higher classes. We in the midst OF most
appalling times and yet how few realize the actual posi-
ton Of hngsl How few having hundreds OF thousands
al stake Of the dangers surrounding them! We
sumbering upona volcano, and its eruption 10 no, far
distant
After the adjournment OF the board The following sales
Of bonds and stocks made by Albert II. Ncolay-
So eco Missouri State 6's. 1873. fiat Sssi
8 eco Northern Indiana RR 1st mort. int added 50
5000 olev. gainesville and Ashtabula RR rs do. s5
5000 Clev. and Toll RR Incomes int added. "a 1917
1000 Williamsport and Elmira Rf 1st mort. do. SO
30 Atlas Mutual Insurance Scrip, 1854 23s
20 shares Morris and Essex RR, increased Stock 81
. do Chicago and Rock Island Railroad 49,. e2yS
IA do Galena and Chicago Union Railroad =. 1901
~ do Excelsior Fire Insurance Co............ 1903
1oo 90 Mechanics Fire Insurance Co......... GOA
40 10 Fulton Fire Insurance Co........... 92a921s
20 20 Rutgers Fire Insurance Co., 49,. "a
10 d. National Fire Insurance Co, New Jersey. ~
20 do Iafarge Insurance Co................7 2a1IL
30 dc American Alarm Lock Co............... IS
Simeon Diapers regular semweeky sale Of bonds aud
stocks win take place tomorrow, hapast IL O'Clock
al the Merchants Exchange.
At the second board the market for stocks was a
shade better. Nicaragua Transit advanced Is per cent;
Erie, "a Illinois Central Bonds, 4. Hudson River Rail
road declined y per cent; Reading Railroad, 4. q
bank statement has a slightly favorable effect.
The Assistant Treasurer reports to-day follows
Paid on Treasury account s127, 0s9 81
Received do. .............., 12s.OSs 90
Balance 10. ,................6.O 27.OyS q
laid for Assay Office. ............,.... 1872 65
oA oispuIShR 10000 III
The annexed statement exhibits the average daily
movement in the hadng departments of the ranks Of
this city during The week preceding Saturday morning
Oct. 20, 1856
new York CRY BANKS.
Leans. Specie. Crctln. Deposits.