The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-03-04
FINANCIAL AND COMMERCIAL.
MONEY MAR TX T. +.
SATURDAY, March Sc P.

MONEY MAR X ct.
SATURDAY, March Sc P. N.
The Improvement noticed yesterday in the stock
market is continued today. There appears to be
feeling in the street. which may become con-
tagous and spread to parts outside and infect some
of the old class Of spectators. II it does the i'm
provement will be permanent. At the first board
today, Indiana SIS advanced ! per cent; Illinois
Contra. Bonds, New York Central Bonds, k;Cant,n
Company, 4; Nicaragua Transit, Ii New York Cen
trail Railroad, i; Reading Railroad, L; Panama Rail-
road III Illinois Central Railroad, l. The greatest
rise was in Reading, and it is likely to be the most
permanent. There elements of productiveness in
that stock which other railroad in the country pos
sesses, and the results anticipated by lite most san
guine friends in all that relates to earnings both
gross and net will be realized Erie may be sustained
at tie present ms X but it IL already high enough in
view of the company's prospects. Nicaragus Tran
sit has tended downward for some days, but reac-
ton cannot be far distant. The street is largely
short and the bears may be caught in tgat
place Railroad bonds were in more active demand
than usual to-day, particularly Illinois Central
TIE new issue Of New York Central bonds are com
ing out freely, and all at fraction below par.
At the second board the market was not quite so
buoyant. Reading Railroad was sustained with an
| upward tendency. Cleveland and Toledo advanced
2per cent. Erie Railroad fell of per cent; Iineis
| Central Bonds, i; Harlem, l.
aos so say M Vt the assistant Of
Received sloo 2so W
Payments. 2eO,S5Z ~
Paid lot Assay Office. 3,Oss W
Balance. NEUTRALITY-SUSPICIOUS.. $i,53ss57 IA
The Grocer's Fire Insurance Company has de-
| clared semiannus dividend of eight per cent. The
Atlantic Fire Insurance Company, OF Brooklyn, six
| per cent. The Republic Fire Insurance Company, q
dividend of four and quarters per cent in cash
and scrip; also, dividend Of twenty per cent, in
scrip, on policies which terminated during 1854.
The coal tonnage on the Reading Railroad, for the
week ending on Thursday, was Is, 407 tons, sing
1922 tons more than the previous week, aud making
the tonnage for the year. to the LIST Of March, 294 sO
tons agsns. 259 5Sl tons to the time las!year
The return flom the Bank of England for the
week ending the 10th Of February gives the follow
ing results, when compared with the previous
week.
Public deposits. "a 463 800 Increase. f12s 357
other deposits. 10 041 $40 Decrease. b36 All
Rest. 1882, 800. Increase. 66,352
On the other side of the account
Gov nment securities Ell sos 652 Increase 00s
Other securities... IA, 6G6 $50. Decrease % 1877
Notes unemcployd.. $685. 800. Increase. 289 020
The amount of notes in circulation is fl9,527 975,
being decrease of f29s, 22O, and the stock of bull
lion in both departments is l2767 ,76O, showing
decrease Of f3l ,s64, when compared with the pre-
| ceding return.
Berng's circular of the 10Th of February says:-
! There bonds inscriptions OF the United
states on sale at present Buyers of Massachusetts,
sterling at lt2 sale If the dollar SIS bonds has been
made at o. Pennsylvania SIS, ns cription, in de-
mand, at rs a so, and safes have been made Of the
coupon bonds at 81 Maryland IS, sterling % e2S
aas ss sonss s ~ "a Ss IN vGns
BOMBS at s5h SO; Canada 6s, sterling, l07 1919,
without demand Bosom City 4s sterling bonds Offered
bonds ts Pennsylvania Central. 81 SO; do. second
mortgsee sterling 90 81; New York and Erie rs frst
mortgage, 100 l0l third mortgage II rs; convert
ble 6sa 20; income loan, "a 70.
E F. satterthwaite's London circular OF the 10th
says
There has been an improved demand for all the best
descriptions Of american securities in London during
the pact week There has been good inquiry for Penn
ylyapia state stocks at higher rates. Virgins have
declpsd, owing to lower quotations. from New York.
The bonds Of 1860 in great favor at to per
cent adysnse on the price at which they were issued
The sinking Fund bonds have been done at "a and TO-
and are offered at the close at 1871
| The annexed communication from an indignant
stakeholder IN the Harlem Railroad Company may
be Of service in shaping the action Of members Of
the legislature. II vas our impression that II was
the intention cf the director, &c submit the act in
case the Legislature should pass to tse stockholders
for their approval and not carry 1t into enst in the
arbitrary way the writer supposss These ra,h.s'ad
directors require great deal Of looking after for
they are all the time concocting some new schems
&c give greater activity to speculation
NKw York AND HARLEM RAILROAD.
To THy EDITOR OF Tm HERALD
A few days ago notice appeared la the columns Of
your paper that memorial petition had been present
ed TO the Legislature OF this State by the directors Of the
New York and Harlem Railroad Company praying for the
passage Of law TO reduce the value OF the stock OF
this company forty per cent in other words liz the
value OF ehch share at $50 per share inste,d Of SO h
orginal cost, which the stockholders deem ma uifest
unjust usurpaton OF the power OF these direc tors
Nthout any authority whstever from the stock holders
nha without their being consulted upon the subject
moving mat your paper has the largest cireu.
! auon OF any other In the country they fear THAR
rights might be prejudlced by allowing such A public
I notice 70 De gwen without expression of THAR
eis.nt and total csapproval Of the passage OF any
sucn Jaw ana were TO pass II would be in IRE conaje
with that clause OF the constitution of tho ted States
which that the obligation OF contracts shall not he
impaired by any state law lam ami snesl
voice win my brethren bearing the same rs,tlon
ship 10 this company, and oediy decaina ard nra,..,
against THIS unwsiantable and arbitrary proceeding Of
these directors without any authority or ,nssasson
whatever fiom the stockholders cmana,og .ssoIn,.,
and excius ively In the councils OF an. po.rS
Directors. Nearly the whole Of thess dir.ctSy, ~
very ceptions, directors With Rob.rt shn.
lar fLruu bia du a at and