The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-12-27
FINANCIAL AND COMMERCIAL.
1DgEv MARK HIT.

WEDNESDAY, Dec. 25--t y. N.
Thee sas considerable activity n the stock market
thu mesuirg but prices rather unsettled Erie
49, modersie demand ani closed at q slight advance
n he first board Illinois Central bond advanced Y per
cent, Srie lairsad, "a Cleveland and Toledo n Har
lem declined = per cent Reading, 4; Illinois Central
Railroad r. rev YORK Central Railroad opened at 9i;i,
AM cleseo at 92 per cent The 6omapd was limited
ReGoirc pretty but not much as the posi-
zion CT the company warrants. Michigan Central and
sieheap Southern freely offered at current qucts
ti3rs There plenty Of sellers time Gaens and
Chicago sold high as l244 per cent on time Ths
enormous dividend JUST declared by this company has
given lie stock great Grmness in the market, II Ia
officially announced that the compsny have de-
chTed n semi an ual dividend Of Eve Der cent
upoo the cspital stock OF said company, from the
act earnings OF tie road for the six months ending Jsnu
ay a. SOC payable to the stockholders at the Office of
the company, in Chicago on The first day of February
next stoc. dvidsni of twelve per his also BEEN
ocssIed Tcm he supius earnings, pay able Feb 1885,
o. hc cce Of The company in Chicago in acate 10
b. uec BY the Secretary which certificates will bs con
rile into the capital stock Of the company at the
pessnfe Of the holder, aud viii be entitled all dvi
deiss declared after such conversion. This equal to
cash dividend Of about eighteen per cent. The stock viii
probably AT premium OF about per cent after
this Isl OF February when all the issues upon
mastes The large dividends az this company, wi- the
surplus Oi tne iund,
make this stock sought woulj DO cheap invest
msn a. advance Of fifty percent current rates.
feg months rce when first called public attention to
ahc stock Of the Gaiens and Chicago Railroad Company
selling at 10s 10 per cent Since that time 3
cseh dividend Of FIVE per cent has been paid and the
stock Ii selling st 1874 124A per cent About the
time first presented tho merits Of Galera and Chicago
stock for public consideration exhibited the rotten
Of the New York Central stock in its true light.
We pointed out the corruption OF the consolidation affair
showed how certain individuals amasscd tunes
out Of its management and proved concusivy tina. the
inveement i. then Stood was, at he best but six
PEI cent one, and uncertain Mt that At that time the
stock selling Of pardivdend just paid OF It is
new selling a. 912z o2 per cent-diyiaend nearly due
While the stock which we have presented to the
public safe and profitable Investment has advanced
about 60 per cent, the which have condemned
unsound, unsafe security has fallen about IL per
cent This shows clearly the feeling Of he public regard
ing the Gsens and Chicago and the New York Central
Raj read stocks. There is in reality greater difference
than This the actual value Of the stocks referred to.
While the Central barely per cent il pays that
in dividends; wheeas tLa Galona out Of net earnings
of thriysoven per cent Lac appropriated but little
than saif Of that ae TO digd nds. we could emu
merate dozen other ius,aueee whore predictions
10 the future market value Of stocks and their annual
producvenesa have been fly verified but il Is not
railroad stocls, and when investments about
being made the character oFoaeh the list is closely
scanned. There buyers OF New York Central
Railroad stock Every sss made re3aJes the number o.
email hid6trs, tho lots held by parties III
Iectly or indirectly connected with the management
They not purchase IRON chcice hut from compusion
TO prevent ibe market prices from sinking too low for
their immediate interests. Gaena ard Caicsgo on the
oher hsnc, is gradually becoming and datri
tDie ;s ~tpsth and
Il Is iess stock The msrlet at l24 2 per cent
than phen it ruled at lcs ITO per cent. Those
who have been governed by the facts we have so
frequently ard fully presented, regarding the
merit Of the Galena and the dement's Of the
CenIs have for congratulations While they have
been saved from serious loss side, they hsve
rssized Important gau the other, and the result
Icay made many parctvey rich Suca results
serve materially TO tighten the labor daily ieyate to
the exposition Of these Matters and make us fee! that
rfndeling gcoa vice in day and generation
Such results the confidence Of the public, and
enable 20 point ont I'll unerrng certainty those sscu-
rites which are 10 te avoided those which 70 be
sustained and encouraged II is impossible 70 mako chs
pubic believe for length q time that bal thing is
good good hing bad and it has been our ain, %
anticipate RESULTS only in where felt confident
time would corEobo,ae and confirm ali estimates and
calcpiatons. The evil disposed cannot point out
instance where have made mistake Our structures
may have appeared at The time premature, and
they may have been made at times when nothing
appeared OF character TO confirm them; but
time the grea. regulator Of all sublunsry matters,
has proved the truth Ct oil statements. Havipg
private prejudices crafty and personally pecunia
ry interest to advance object has invariably been
the public good and 1t is Of satisfaction that in
every instance where advice has been strictly followed
the mos results have ensued Our cotempora
hardly dare express opinion about stock security
iayorab'y unavorably trust themselves with any
prediction regarding future events As general thing
they have much say in favor sad nothing against any
security .be market If their advice followed sn
woua he buyers and sellers They make disnc
ton between the good, bad and indifferent; and If the
public had other guide all would soon be found In the
ditch We give these SPECTATORS organs credit for
thing AMI tiat Is consistency They continually
putting the tncies. Now Ear stock securities 60,
consistency is q humbug stock may be good to day,
and good for nothing ia six months. Bad management
ignorance and extravaganza may in few months com
pletely change the character Of any stock aud we
are only sure OF productvcness and dividends so long
proper sys.em OF finance, &c, is adhered to.
The Superintendent Of the Clearing House George D..
Lyman Esq. sends US the following correction and ex
pans,ica regarding the bank statement for the week
en0ipg Dec. g 1s55;--
Nrw yonv cEARHe House Dec. 90 1856
The foo.invs OF the bank statement OF the cath inst
Rhcult BE- o. follows, viz -
Loans and discounts SOL $50 49,
spece IL 0SS 1859
Circulation Observation-Disclosures. 777s, 1913
1924, oo6
alcd with last week. the diere in the state
nert are a. feit VA
Ioaus ami tiscounts increase $3.50 40
speoie Increase SOL aS4
Crouiali9n increase. ........,............ 77sl1
Deposits increase.. ..................... 40, 4s9
Tie accidental omission OF the statement OF bank
when received late caused the above diferci co.
GEORGE u. LYMAN.
A. the ferood board he market slgs fly better Nj.
csrsgus Transit adva per cent and Gslcns aud Chi
csg r. After the board i2i asked for Galena Ecie,
SLY Here Is strong party purchasing Nicaragua
Transit The election OF Commodore Vanderbilt as d.
rector meets with general approval. The government