The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-04-25
FINANCIAL AND COMMERCIAL
MONEY ma q EFT.

TUESDAY, April Z4-o r. NJ.
The stock market steady to day. With very large
operations in the leading railroad stocks, prcis
firm, and closed with slight upward tendency. Erie
and Reading operated in extensively than all
the others combined OF the two there is wider mar
gin IN Reading and it win prove the most profitable in
vestnent, in the shortest time The payment of divi
dend by the Erie Company is very doubtful matter
while the Reading Company will pay the LIST Of July
but little more than sixty days hence-a dividend Of
ten per cent six of VIII CHI win be in cash and four in
stock. II VIII pay the LIST Of July out of its net
earnings, semi annual dividend two per greater
than the Central Company ray in the whole year;
and yet the stock of the latter sells per cent
higher than the former. At the first board, Mica.
ragua Transit advanced u per cent; hudson River
Railroad, u; Cleveland and Toledo Railroad 1.
Cleveland and Toledo dividend bonds de .linsd
x per cent; Panama Railroad, x. Nicaragua
Transit appears to be moving up very gradually,
without any speculative excitement. Cumberland
Coal is gradually settling down. The company
have Issued proposals for loan Of $500 900 issue
of first mortgage six per cent coupon bonds To provide
for the payment of these bonds, the company have
agreed to pay into the hands OF trustees Atty thousand
dollars annually, as a sinking fund The bonds are Sc
cured by first mortgage on the compauy's lands in
Maryland The object of this loan is to pay off, or put
of, debt of about the amount II has been re-
peatedy stated, upon semicciat authority that the
company had large surplus Of earnings in its treasury
and that its net profits during tee past year amounted to
nearly four hundred thousand dollars We should really
ike to see sons official report in relation TO this matter
Independent Of such surplus, understand the com
pany took advantage OF the recent to sell its
served stock The proceeds have doubtless been placed
in the treasury, with the profits of the coal trade ana
tho aggregate, whatever it is, viii, without doubt, as
soon the loan secured be appropriated to the
payment of dividend We begin to Aave grave doubts
relative to the existence Of the reported profits Of this
company on its coal trade for this past year.
After the adjournment of the board the follow
sales OF stock made at auction by Simeon Draper
$4,000 u =. Nail Ste amship Co. (Lav's). %
10000 Pacific Mail Steamship Go. (Aspmwal's) }. 40
JThompsons regular weekly sales of stocks and bonds
WI take place tomorrow, at half past IL O'Clock at the
Merchants Exchange His list includes large amount
Of State stocks.
At the second board the market little depressed
in prices, but the sales quite large Cumberland
Co fell of Il per cent; Canton Co., a: Erie Railroad
y Reading Railroad, u; Cleveland and Toledo x, New
York Central Railroad, u.
The transactions at the Assistant Treasurers ofies
today we're IS follows
Paid On Treasury account. ......... saa0 $40 n
R Rsssnrs 90 40 .'...'..'...... 222 4o4 %
Dssnce 90 ",....,........ 2, 318, 86S IS
Pad on disbursing checks. ............ 7s.2is So
OF the payments to day $50 500 was California draft
and Of the receipts $loo, 900 we're from the West
Tie Mechanics Banking Association h rs declared a
semi annual dividend Of Ave per cent.
by the arrival Of the steamship George Law AZ sht,
pert from Apinwall, We have seven days later intel
isesee from San Francisco. The George Law brings
s772.ooo In gold per manifest and government drafts
Tor about s25oooo more The distribution q the shin
msnts shows that great caution Is exercised BY shippers
n6 where drafts drawn on<he here can be-
obsHsd they are preferred berg safe beyond oontln
stney. We have no doubt this want Of confidence in
induces many passengers to bring their treasure
IN their baggage and that from this cause the actual
smount Of gold brought By every steamer Is much
larger than II appears. Financih and com nercial
sasi,s 10 Ca orniA gradually improving The re.
sumption OF Page, Bacon Co the 10Th OF March,
bad favorable effect Tbs deposits on the hrst tag
exceeded the crafts about sio goo, and he secord
day ssc,ooO. What efect the second suspension Of
P.ss bacon, Of st. LoEis, may have upon the San
yarSisse hosse, remains V be sesa, kiasg opsrssons