The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-07-10
FINANCIAL AND COMMERCIAL.


MOHHY MAR KU1.
MONDAY, July o-6P.M.
The stock market opened buoysut this morning,
and with considerable activity. Tennessee 6's 81
vsnced per cent Louisiana 6's. ! Indiana SIS,
/; Illinois Internal Improvement Stuck, I /; Illinois
Central Bends, l Cumberland, Nicaragua Tran.
sit, /; New York Central Railroad, D +; Erie Rail.
road, /; Reading Railroad, IL. Michigan Southern
Railroad declined per cent A large amount Of
business vas transacted and the market appears to
be steadily moving upward. Reading Was tho card
to day. The New York holders are selling out to
Philsdelpbars ct high prices and the probability IL
that sometime hence capitalists Of this city will be
able to buy all they want back again at lower prices
1t was reported in the street this morning that the
Reading Railroad Company was largely interested in
the immensely valuable land decision in California,
with Palmer, Cook & Co This is, We bslieve,
mistake. gentleman connected with tins Rssd
ing Railroad Company IL, we are happy to learn.
part owner of the tract Of land in question: and the
probability Is that this fact gave rise TO she report
in circulation. The interest OF the party alluded
to is estimated to be worth upwards Of half mil.
Hon OF dollars. We are gratided that the decision
has proved 90 favorable to such Q worthy man
Erie is steadily advancing again, but the transac
tiors are comparatively moderate. Cumberland
Coal Company is destined to touch higher prices.
The recent report Of the President for the last fiscal
year shows very favorable state Of things. There
was mined and sent to market during the year,
225,20 tons Of coal, which, after deducting ex-
penses for mining, traI spo,tstIon, agencies, &C..
&C., netted $ls9 $50 Go, which with 500 700 % net
freights received from company's vessels, amounts
in the aggregate to s2l9,33O 81. The President
ssys;-
In January. 1853, the debt Of the company was
1926 tOO and At the OF past year II
was $637 the interest of which has been paid
seventy thousand dollars $50 000) Of the has
recently been sxtngushed by paying of and cancsling
the bonds leaving balance of GEO. which will fan
ed for Without to the wscS
now earning large returns on the property actually
worked The mines, with their perfect equipment Of
buildings tools, and facilities for trans Of
immense intrinsic vaue and afford fulland ample
for almost unlimited amount Of business aud would
sources and facilities Of the company By disposng OF
such portion or portions Of the property
sary for it, profitable and successful business.
The assets on hand May l, 1854, amounted to
$269,720 49, net earnings May l, 1855, $2l9, $3.50 81
total $4S906l "a. Paid for locomotives. cars canal
boats, engine house, &C., wharf at Alexandria, &C.,
$l52,s30 06. Suspended debts. $l12,755 80. Paid
for thiityfve bonds cancelled, $33 $50. Personal
and pdispe Dsabls property at the Mines Alexsudrs
Snu OoAanAOACJ voopVAL OVs AVMleUo n6o0t5 La Ch6O
and bills receivable on hand May /, 1856,
$l5s,2s4 o5. The company ais, have on hand 1882
shares Of its capital stock. The company have sold
this year. up to the LIST of June s62 tons of coa
against 5000 tons in the corresponding months
last year. This coal must soon b generally used
n locomotive engines. The experiments made thus
far have al been satisfactory and conclusive. the
President Of the Cumberi and Coal Company, in his
report, says:-
tits used, to the almost entire exclusion of any
other fuel the freight and passenger engines the
Baltimore and Ohio rosd; aso the Northern Central
railway. wood be purchased at 50 per cord;
and within date, most markabs proof has
been furpihsd of its adaptation to this purpose
some Of roads; much so, that large
establshment at Taunton has commenced the msnufsc
turs Of locomotives the OF COAL and others
are turning their attention to the same object Two
engines have been worsng on various roads durng the
ps ye.r ~.n o. non ,'s , one g.
per experiment ON Boston and Lowell road, sho wing
saving OF Hitytwo Per cent in favor Of Cumberlso
coal That the of this coai, within very brief
period, will be general railroads wood
is, there cannot be doubt rapidly 10 1t gaining in
years thirty eight per cent against tat,en per
Of anthracite. II may here b remarked, that on
Fast year, 40 90 cords Of Wood costing the aimss
Incredible OF $3.50 100 Cumberland coal, to gene
q would s.1s coat no .as.:
$4,000 thus showing saving OF $40 0OO, being,
ok r, cent cen the interest q % sun vel
roads using wood fuel at high cost, and the
expense Of which must increase In each succeeding year.
All the Western railroad stocks we're steady to.
day. The reports Of earnings for June are coming
In favorably, ami the season advances they will
b able to make still! better financial exhibit.
State stock and railroad bonds continue In active
demand, without much change In prices.
The interest coupons Of the Joliet and Northern
Indiana Railroad bonds guaranteed by the Michigan
Central Railroad Company, due July 10, will b
paid Of the American Exchange Bank on that day.
After tie adjournment Of the board the following
sales Of bonds and stocks were made ct auction by
Albert b. Nicolay:
49, 900 Great Western r. gu los.. and int. SAX
1900 La Urosss 4 Milwaukee r. r. ss....do. SIX
$500 PheniI Gold Mining Go. Of y. g. os..do. 53h
5000 For, Wayne and Southern R. R 70: do: IS
1000 One Certiacste Breckenridge CAnnsl Coal :
Co, representing 10 shares OF 500 each, Of
the capita, q said Co.: 800 70 l,s9o
40 do. Lenox Fire Insur Co. ....... sax
10 do. Csmuonwsalth FIRE Ins. Co. -. soK
g &C. &C. E Essss F FL: In: c. So
2s do do. do. ........... SO
At the second board the market was little weak.
Nicaragua Transit declined per cent; Cumberland
Company, 4; Reading Railroad, 1; Cleveland and
Toledo, 4; New York Central Railroad, 4; Harlem,
l. Illinois Central bonds advanced / per cent;
GalenA and Chicago Railroad, j.
The Columbia Fire Insurance Company have
declared . semi annual dividend Of five per cent,
payable on and after the 18th inst.
The steamship Golden Gate left San Francisco for
Panama the 10th Of June, with 81 ,063 079 81 in
gold. About $500 900 Of this will come 70 this
port.
TIE steamship Baltic, from this port for Liver.
pool, on Wednesday. the 18th inst, will take out