The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-08-29
FINANCIAL AND COMMERCIAL. !,


TUESDAY, August 23-6P.M.
There was very active stock market at the
opening this morning. The sales were to on IN
ufuaI extent, principally on time. Not much cash
stock appears to be Offering, and those who are COM
PEELED to sell for cash turn round and take in the
sane or greater quantity on time buyers option
At the first board to-day Virginia 6's declined !
Per cent; Erie Bonds, 1875, Il Erie Railroad, \;
Michigan Southern, 4; Reading Ruilroad, q; Ceve-
land, Columbus and Cincinnati, .; Galeua and Chi
cago, 1; Cleveland aud Toledo, 1. Canton Com
pany advanced per cent; Norwich and Worcester,
!. There ia no new feature in the stock market.
Stocks generally appear to be gradually settling
down, and the probability is that points seve.
raj per cent lower than those now ruling
will in few days be current There Is q
more active demand for money. No change has
been made in the rates, but there is more
pquiry. The capital required to move the crops is
unusually large, and it will be some time before it
will find its way back again into Wall street. It
must go round the regular circle of commerce.
When the season is over and trade becomes quiet
again, we shall find an accumulation going
Tn in the hands of capitalists. Stocks will
then absorb large amount, and another imitation
in prices may be realized Reading was particularly
active to-day at the decline. In about three months
the present fiscal year Of this company closes, when
we shall have an exhibit of earnings never before
shown by any railroad in this country on the same
amount Of capital. Erie is gradually settling back
again to the point from which it started few days
since. Cleveland and Toledo was offered freely to-
day at lower prices. The sales amounted to nearly
two thousand shares The facts and figures we
have given in relation to the finances Of this COM
pany within the past few days. have opened the eyes
of those who have blindly purchased the stock and
the large sales are undoubtedly the effect There are
plenty of good railroad stocks in the market for in
kestment, without touching those Of doubtful char
hcter, or which are in the slightest degree tainted
with equivocal fnanciering. The choice of good
stocks is so great that men of moderate ans need
not run the slightest risk in the investment of their
funds, and they should avoid all those which Ire
known to be shaky. Once in while o bad stock
will get in good credit, and outsiders will get
drawn in ut high prices; but as soon as suspicion
is raised it should be abandoned upon the principle
that the first loss is generally the smallest.
The following bonds and stocks were sold at auc-
tion to-day
s4s0 six per cent sterling mortgage bonds OF the
Cincinnati, Logan port and Chicago haroad Company,
due in London 1883 Interest payable May and No.
vember l, in London. f2o5 each 10 per csnt.
20 shares Chicago and Mississippi Railroad Company
10 shares Nassau Bank stock, $1o0 each. .1oi1
AT the second board the market was lower, with
quite an active movement in stocks New York
Central fell off per cent? Cumberland Coal, !.
Erie and Reading closed without change.
The transactions at the Assistant Treasurer's Of
flee to-day were as follows:--
aid on Treasury account. SIS, 035 10
EeceNeu 90. .................. l3c, to3 ~
Balance do. ................. 4, Git, 369 IS
assay Il
Paid on dsbursing checks. ............. 33,ll6 Of
The receipts include $50 600 from Chicago.
The warrants entered at the Treasury Depart
ment Washington, on the 18th inst, were as fol-
lows
For the exemption Of stock 81, AIS 06
For the Treasury Lei arment ............ 4,537 6!
Tor tie Interior department. .............. Soo 02
Ior 'he NustoWs. o,ooo 90
v var ants received and enter red. 1855 ~
Covered in from miscellaneous sources loI 40
Le,pay warrants account Of the Navy. 5000 co
Bills of the Weare Bank, Hampton Falls. New
Hampshire, altered from two to ten dollars, have ap
peaIed. The alteration of the figures is SO neatly
done that the bills have passed through several
banks without detection.
The following is statement of tolls received on
the New York canals during the third week in
August, and also the total amount received from the
opening of navigation up to August g. in the years
nan