The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-04-07
FINANCIAL AND COMMERCIAL
n O. E Y MARK nT.

FINANCIAL AND COMMERCIAL
MOHHY MARK EFT.
FRIDAY, April 5-5 P. NJ
The stock market was slightly buoyant the opening
this morning, and continued to the adjournment OF
the board. The transactions were unusually heavy,
and the class Of operators in the street Of superior
order. Some very large lots changed Lan1s. AT the
FIRST board, Missouri 6's advanced u per cent Erie
bonds, 1875, u; Illinois Central bonds, 4 Illinois
Freeland bonds, * Canton Company, a Cleveland
and Toledo dividend bonds, u Erie Railroad, Hsr
lem, y Reading Railroad, Y Cleveland and Toledo
Railroad, y. Michigan Southern Railroad declined 4
per cent Panama Railroad, u. State stocks not
active to-day Railroad bonds In better demand
than usual at improving prices Nicaragua Transit il
lightly depressed, temporarily In consequence of the
Injunction suit going in courts, The company
do not appear to be . party Ia the Affair and IL
viii probably end in smoke. The company Ii
foreign corporation. Cumberland Coal remains
about the stock, called the Hamp-
shire Coal and Iron Company OF Virginia, is about
being put upon the books OF the Board of Brokers We
gave short account of the npany yesterday and 1t
is attracting considerable attention. The nomnaa par
value Of the stock Is hundred dollars but its actual
par value only twenty per cent. The capital stock of
the company il represented by twenty thousand
shares which, at Its actual par value is only S4c0 0oo
and II debt II viii therefore be that the
Hampshire company pay large dividend to its
stockholders before the Cumberland company can pay
the interest its debt The actual capital of the ars.
is $500 co., while the debt of the latter upwards of
$500, coo. Erie Railroad stock was very active this
morning. and closed at advance the opening price
II is the prevailing impression in the street that II will
touch sixty per cent within the next ninety days Read
ing Railroad gradually but steadily approaching par
That will touch that point before the frst OF August
have not the slightest doubt. We do not depend on
any speculative influence to initiate IT to that extent but
upon the actual merits Of the stock permanent aud
productive investment.
After the adjournment OF the board, the following
sales OF stocks and bonds made auction by A. a.
Nicolsy,-
go GOO willIam.port and Elmira RI rs lat mort. 80
1900 can.ndasua and Elmre nR rs, ath mort. $50.
10 600 c.u..dasu. and Corning RR mort op ss.1s
6000 Tennessee Observation-Disclosures. 94x
600 per cen, ist mort bond Of the Cincinnati. va
logspsport Chicago RR Co.............. 664
500 shares willamsport aud Elmira RR.. .l9ao5
AT the second board, the upward movement continued
with considerable vieor. Erie bonds, 1878 advanced X
per cent Illinois Central bonds. TX; Indiana SIS, 4;
Louisiana 6's, !; New York Central IA Il; New York
Central bonds, y; Canton Company, u: Cumberland
Coal y; Nicaragua Transit, ~ Erie Ralfsad, 1; New
York Central Raj road, n; Reading Railroad, NJ Hudson
River, y; Cleveland and Toledo Railroad ri Nor ~ich
and Worcester Railroad, a. The market closed firm,
with a strong upward tendency The supply Of money
appears to be increasing There is Offering ia the
street than can and employment and the rates have
already reached very low points.
There is quiet but decided movement going on in
mining stocks and the easy money market must help It
along rapidly II must not be supposed because very
few Of these stocks have been operated in lately that
they have disappeared altogether for that is far from
being the case Most Of the companies have during the
past winter been actively engaged in opening and de-
velopipg their mines and before in a more
prosperous condition than at this moment Last year
the principal Of the orsnaors aud was
to devslops stock this year the principal object will
to deveore mineral wealth The experience those engaged
in this business have gained during the past IL months
will be Of vast importance to this yrea. interest and tina
time is not far distant when shall equal any nation
in the world in the extent OF mineral resources
An immense capital 10 invested In this industry and It
must with proper direction prove largely productive
In other parts Of the world, mining il of the most
lucrative employments and II having been settled be-
yond question that mines exceedingly rich in
ore it follows that thu only required to develops
it In science energy industry and capital We have all
these elements in abundance and that they will be actively
applied to that purpose, for moment doubt
who understands the character OF our people
The steamship Baltic, from Liverpool, brings seven
days later intelligence from all parts Of Europe The
is considered favorable and II has had favorable
effect on the markets. The London money market Is
reported being very easy, with tendency towards
lower rates. Bullion in the Bank of England was in
creasiDg The returns for the week ending the 18th OF
March give the following results, when compared with
the previous week.
Public deposites. 0,7, s43 Decrease f249 s05
Other ll,I5
hest.. 3,o4 81 lncrsass.. AIS
On the other side Of the account |
securities Ell sS3 1856 Increase 500
Other securities IA, 52l 500 Decrease. .3592ts
Notes unempoyed.... S,4s6 1866 Increase 65l els
The amount Of notes in circulation ia sls,ss4 olo,
being increase of f16 and the stock Of bullion
in both departments ia ETA 2i3 showing increase
Of f57s, 72a when compared with the preceding term
The at work in London in producing
abundant supply of money, this side OF tn At
lantc, viz reduced transactions trade and
The ruling rate Of interest outside Of the bank three
per cent Quotations for consols show decline which
Ia somewhat curious in the face Of such plethora OF
money The political accounts rather favorable
otherwise. They do not differ materially those
ceived by the previous steamer Cotton shows slight
Improvement. BreadstuIs uncha nged both in prices
ard denaEd. In relation TO American .urtes the
cuiar OF +. i. saterthwaite says
We have to report steady market In London for Anne.
rican securities. Transactions have not large.
Sellers are holding oil to the eject produced at New
York when the OF the death of the Car OF
rise IN consos and the improved state Of money
market.
Illinois per cents remain quiet at co. they have
not refponeed 10 the advanced quotations from New
York. The new issues, carrying 10 per cent stock
70 70.
The Chicago and Rock Island Railroad Company earned
in March sesos7 %, against s746s4 20 for the