The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-06-21
FINANCIAL AND COMMERCIAL

FINANCIAL AND COMMERCIAL
MONEY MAI X ET.
WEDNESDAY, June 20-6 Pm.
The speculative excitement In Wall street has
already reached tever heat. The trAnsasti,ns at
the first board 70 day were more extensive and at
better prices than have heretofore been realized
this season. The advance ia ct . rate altogether
unwarTanted BY the position Of tho stocks, or By
their prospects. The operations on time compose
the bulk OF business d the board; > moro mode
rate improvement might have been more permanent.
Fancy stocks begin to feel the influence Of spseula
ton, and as they have not besn mach inflated
yet, they msy attract more attention and draw
spectators from moro substantial securities.
Nearly everything on the list advanced this morning.
Buyers seem to lose sight Of the extent Of tho In
Hation already realized, and purchase on time with
apparent impunity. The bears do not appear to bs
ct Ill dismsyed by the rapid advance In market
values, but put ont contracts freely, in any way to
suit. State stocks, railroad bonds, canal stocks,
coal stocks, railroad Stocks are oil sold time, at
current rates, by the bears, who have an abiding
faith in reactions and rs!apses. At present prices
they have strong tide in their favor In the shape
Of interest. More money is absorbed In stock s2sc
ulations, at rates now ruling, and tho demand for
capital is likely to be more active from this as well
a. numerous other causes.
At the first board to-day, Louisiana 6s advanced
per cent; California re, /; Tennessee 6's, /; Erie
Bonds, 1876, d; Hudson River .hird mortgage
Bonds, IL; Illinois Central Bonds, &; do. Free
land, II; New York Central Bonds, i; d.. rs, /;
Nicaragua Transit, 1; Canton Company, 1; HG-
lem, /; New York Central Railroad, /; Erie Rht
road. IL; Reading Railroad, z; Michigan Central
Railroad, !; Michigan Southern, s.; Psnsm,, 8; Chi.
csgo and Rock Island, j; Cleveland and Pittsburg,
5; Galena and Chicago, 2; Cleveland and Toledo,
8. Htonington Railroad fell on per cent; Hudson
Railroad,a. The Gales were very large Of all the
Leading stocks. The sales Of railroad bonds ct the
first board to-day amount TO about $3.50, 900, mora
than one-hslf of which was Of tho two classes of
illinois Central; Erie Bonds, Hudson Railroad, New
York Central, Harlem, Terre Haute and Alton m, de
up the balance all a. bstter prices The differences
existing between the Erie and New York Central
Railroad Companies, in regard to rates and running
regulations, are entirely neut.alizsd so far IS any
sct on the market value Of their stocks IL con.
csrned, by the speculative movements In the street.
Reading was not 20 active Or bu,yaut to day q,
other prominent railroad stocks. All the stocks Of
Western railroad companies are moving up too fast
to be firm. An advance Of two, three and
five per cent day cannot be continued long,
That all those railroads favorably located for the
transportation produce from the Western States to
the seabcsrd markets, win do large freighsng bu
sness when the new crops come forward, canuot for
. moment DO doubted; but whether It will be pro-
ftable OF not depends entirely upon the extent Of
competition existing at the time. Capitalists and
9TH ~ ouct uu% ha
by the declaration Of large dividends by any Of our
railroad companies. Railroads for the present must
depend entirely upon their net earnings for digi.
dends. TIE tims for borrowing money for such
purposes has gone by, never, We hope, to come
sgain. Five per cent semi annually is as much as
any railroad in the country can pay and keep clear
Of debt.
At the second board the marke. was little uu
settled Harlem fen of ! per cent; Galsna and
Chicago, l. Missouri 6s advanced /; illinois Cen
trsl Railroad, 1; E:ie Railroad, 9; Panama, /;
Cleveland and Toledo, j; Michigan Central, 2. The
high prices ruling for Western railroad stocks is
bringing them cut, and we may look for . great
chSnge in tho GLASS Of holders. There vera large
sales of Galena and Chicago and Cleveland and To-
lsdo this afternoon. It salwsys best to rsatze
good profit, particularly after an upward movement
Of great Iapidity.
Ezrhe steamship Africa, from Boston FOR Liverpool
today, carried out $sll 900 in specie.
Albert b. Nicolays regulm semi weekly aucti m
sale OF stocks and bonds viii take place to rnorrov,
Thursday, at Ia o'clock, at the Merchants Elk
change.
Simeon Draper will sell at auction TO morrow, 81
kalfpsst IL o'clock, At the Merchants Exchange,
5000, 600 bonds Of the Delaware, Ls,hawlsna aud
western Railroad Company, being the remainder OF
the issue Of $500, 900 by that company for the
extension Of its road from the Lsckaxsnna coal
region toward New York.
At the Mining Board the following sales were
made:--
500 Gardiner Gold. 81 So 16o Hivssss. 10
700 do.........ba0 go 80 Isabella Copper. 90
500 90. ........slVl %
The transactions at the Assistant Treasurcr's
Office, to-day, were ~ followa:-
Paid on Treasury account. sSs6S3 o.
Received do ............'.s.. ol,lov w
Balance do ................. 3ol, SIS u
Paid for Assay Office. ..:..........""... 1870 o.
Paid ON disbursng cheeks. 3Ooio ~
The warrants entered as the Treasury Department,
Warrington, On the 18th inst, were IS follows:-
FOR the Treasury Department. Se75 ]!
For the Interior Department. H,oI4 IA
Fer the Customs lzoE ~
War warrants received and entered. e4,3sl 90
Covering into Treasury from misc scuress.. H,sss -
Drawn On account Of the Navy. ....... 5I,083 81
For repaying ON account Of the Navy.... 1888 SO
Tho directors Of the Western RailSoad Company
have declared dividend Of 81 per cent The ssmi-
s-x.~~-x NJ k1kauv hnuIs uS ~