The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-03-16
FINANCIAL AND COMMERCIAL.
mONEY M A n X Il r.

THURSDAY, March I5-6 p. ID.
st.ta aAocks and railroad bonds have been in do
s,Aad to day and better prices were realized at the
6rst hoard Stocks Of fancy character were ne
,ssc,ad and prices receded. AT the first board In
S.na &c advanced I per cent; California rs, !;
Harlem first mortgage bonds, /; Erie bonds, 1875.
\ Illinois Central bonds, 1; New York Central rs,
aslling at par Panama Railroad 81; Cleveland Co
Iunhus and Cincinnati Railroad,1 Cleveland and To
ledo Railroad l. New York Central Railroad fell of
4 mar cent? Nicaragua Transit, /; Reading Railroad,
i. Nearly one hundred thousand dollars Of State
stocks were sod this morning, principally for cash.
Most OF the purchases are on foreign account. Rail
road bonds to even q greater extent were sold at
the first board TO day. About one hundred and
thirty thousand dollars Of Erie bonds OF 1875 were
sold nearly ali for cash. Illinois Central bonds
amounting to upwards OF seventy five thousand dol
lara changed hands. There were large sales OF
Reading Railroad, and prices were very steady. IL
WA reported to-day that large foreign holder Of
Resding Railroad stock had sold out at SO 81 per
cent. This rumor arose from the fact that an op.
orator in Philadelphia, who had bought In
at Iess prices, realized on some thousand
shares, wish the hope doubtless, of depressing
the market 30 % to come In again and double his
line. The market absorbed this large lot without
receding more than fraotion of one per cent, and
it strikes us that the party alluded TO must feed
sadly disappointed Foreign holders Of stock in this
company are rather more anxious to buy than to
cell, and are DESTROYS Of having their portion of
every or any new issue Of stock allotted 10 them,
even ct par. The business Of this company exhibits
at this time state of prosperity unexampled in
its history. 1t is no longer matter Of any moment
who sells the stock or who buys 1t. The prosperity
of tho road is now fact firmly established in the
public estimation that 1t longer requires tie aid
of Influential names to give 1t strength On the
contrary we believe that II the whole English In
Seess were sold out to day, substantial buyers at
home wsuld be found ready 70 purchase the stock,
and hold it as the best Investment offered in the
range Of the stock List. The severe test to whish
the market has been put within the last three or
four days, by the immense quantity Of stock offered
for SALE and which found ready purchasers at i'm.
proving rstes, shows this result beyond doubt
The heaviest, and for such speculative fancy, the
NEST neglected railroad stock on the list ia Erie.
1t brings within fraction Of fortysx per cent and
it appears to be as difficult to get 1t above below
that point 1t is burden to carry at that price, %
the interest account runs up rapidly against hold.
ora Harlem Hudson, and New York Genital remain
abou. the same. Some Of the Western railroads are
doing much better this year than last, but we shall
have no more such heavy dividends. The stock
holders will get all tho roads really earn, and that ia
al they can expect. The Chicago and Rock Island
with iss finances under the supervision Of Mr.. Flagg
has Just made dividend of four per cent, AID the
Chicago and Mississippi, with ts finances under the
supervi ion Of Mr.. Baschford, will soon show very
favorable state Of things. We can answer tor these
companies, as far as the safekeepipg Of the funds
60, and tbs payment Of dividends. Those roads
which havs heretofore paid such enormous divi
denda can do so no more, and if they pay any, the
rate viii be comparatively small.
After the adjournment OF the board the following
sales Of bonds and stocks were made at auction b.