The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-08-28
/ FINANCIAL AND COMMERCIAL.


=
The stock market was very heavy at the opening
this morning. The operations were exceedingly
large, good portion of which was for cash. Lower
prices ruled throughout. At the first board Illinois
Central Bonds declined per cent; Cleveland and
Toledo Dividend Bonds, 1; Canton Company. !;
Nicaragua Transit, /; Cumberland Coal, 4; New
York Central Railroad, i; Cleveland and Toledo,
J; Erie, !; Harlem. 4; Reading Railroad {; Mchi-
gan Southern Railroad, !. Cleveland and Pttsburg
advanced per cent In State stocks there has been
no change in quotations. There was considerable
activity to-day in Illinois Central Construction Bonds
but in other descriptions very limited business
was transacted. The stock market is taking Just
The course VIC anticipated. The imitation had reach
ed ia maximum point at the time we predicted a
change and The fall has already in some stocks been
pretty heavy. There is still wide margin left for
further depreciations, and we shall soon see it in
several OF the Western railroad stocks perhaps to as
great an extent as in any. Erie was taken in
largely BY the shorts this morning for delivery.
Reading recovered little from the opening
price. and closed steady at the improve
ment. New York Central has fallen back 10
within small fraction Of par. There was
bear sale on six months at par. Cleveland and TO.
edo was very dull to-day at 81 s7l per cent. The
retail way find the demand for investment has not
only ceased. but that small holders are selling at
prices considerably below cost. This compels the
clique engaged in sustaining the market to purchase
and the probability Is that they viii get back all
they supposed was for time fixed in the hands of
outsiders. 1t is very extraordinary that where there
are 40 many sound substantial stocks on the market
paying large dividends, without the least probability
s1f AL Al
means, those who look to the permanent produc-
fiveness Of their investments should place their mo-
ney in such stocks as Cleveland and Toledo. If the
stock was selling at very low points, it might do
well enough for speculative movement but at any
thing like present prices it is dangerous to carry
Tor even the shortest period. Galcna and Chicago,
Chicago and Rock Island, Michigan Southern or
Central are good stocks, and are selling but little
above Cleveland and Toledo. They are sound, set
tied stocks, and are desirable for investments.
After the adjournment of the Board this morning.
the following sales Of bonds and stocks were made
at auction by Albert H. Nicolay:-
- oOo Crawford county (Pa SKIES 1874, int added III
100 Chicago and Mssis sippi r. r. lo's. do soI
10 Williamsburg City Fire Insurance %
40 Webster Tire Insurance Co.. (per share of $500 50 05
~ aere' and 80 perehes lands Mexican Co., Pa.
wy VaFfrnN numbered Z,"ov, subdivision 3S4,
Pe' 30c.
Simeon Diapers regular semi-weekly sale Of bonds
and stocks VIII take place tomorrow, (Tuesday) at
halfpast II O'Clock, at the Merchants Exchange.
At the aecond board there was an active demand
for Reading a. better prices. An advance OF one
per cent realized and at the close the tendency
was upward. All other stocks were lower, and
closed weak. Cleveland and Toledo fell of ! per
cent; Erie l.
The Cunard steamer from Boston for Liverpool, on
"wednesday, will take out about half a million Of
dollars in specie.
The steamship Daniel Webster, at this port from
Aspinw ALL brings upwards of seven hundred thou
sand dollars in gold on freight. The passengers
probably have large amount in their baggage.
We give in another part Of this days paper the
reply Of Dir. I. ". Edmonds, late cashier Of the Me
chanics' Bank, to the charges preferred against him
while officer Of that institution lie has not left
mach Of the officials with whom he had to DEAL and
the stockholders of the Mechanics Bank must see
that tie affairs Of that concern are now managed by
men Of very small calbre. IT is rich expose, and
we feel confident that nothing but a of duty to
himself could have induced Mr.. Edmonds to place i
before the pubic.
The transactions at the Assistant Treasurer Of
nee, to-day. were as follows =
Paid Treasury account. .............. S52 ,ig q
Received On Treasury account. ~ 0so %
Balance Treasury sccount. 1851 90
Paid discussing checks 65.2S' 60
The receipts to-day include 100000 from the
West.
The warrants entered at the Treasury Department.
Washington for the three days ending the cath inst,
were o. follows
For the ION ~ stock sos pi3 %