The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-01-06
FINANCIAL AND COMMERCIAL.
NON EY MARK n +.

FRIpAY, Jan. 5-6 p. NJ.
The stsek market Was quite active and buoyans
to-day. Every sock on the list improved, and the
aspeGtien 70 buy was pretty general From the
opening to the close the tendency was upward, and
the advance to possess considerable strength
Virginia Sc went mp per cent; Indiana So, Il;
Illinois Central Bonds, l; Delaware and Hudson,
II; Cumberland, 4; Canton Company, 4; Nicaragua
Transit, 4; New York Central Railroad, /; Erie
Railroad, 4; Harlem Railroad, /; New Jersey Rail-
read, 4; Hudson River, Galena and Chicago Rail.
road sold ct 80 500 per cent. Michigan Central
and Chicago and Rock Island were nrm q. previous
suotations. State stocks were sold to some extent
to-day. A sale Of Erie Bonds, Of 's3 was made at
20, seller twelve months-probably by some san
guine bear. New York Central Bonds are nov
selling ct one per cent below the current price 70
Tie sock. The former draws seven per cent In
cash, and the latter draws the present year eight
per cent In seven per cent bends at par 1t has been
reported that the Nicaragua Transit Company we're
largely interested In the Kinney Mosquito Expedi-
tion, but it Is officially contradicted. It Eis not
interessed Is Q company, neither are Its man
ayers or directors Interested individually In the
land project Of COL Kinney and his associates. The
Transit Company confines its operations entirely to
the transportation Of passengers to and from Cali
fornia. It can make money enough to pay it's
stockholders good dividends in that business, with
eut engaging In doubtful enterprises, either In
Mosquito or elsewhere. There ia no doubt but that
the success Of the Kinney expedition would be Of
great benefit TO the Nicaragua Transit Company
by giving it = large amount Of business, and en-
HANGING the value Of its landed property on the
Isthnus. II has therefore been considered the
wsest policy to keep clear Of all political entange
i, ments, and confne themselves entirely to their
Legitimate business. The market value Of Erie is
sustained upon the probability Of the new loan be-
ing Allied up. Bids have already been put In for an
amount nearly equal to that required, and it win
without doubt be announced on the 10th inst.--the
day fixed for opening the bids-that tho entire loan
has been taken, and that bids were put in for
much larger sum. This we are prepared for, and
hope We shall not be disappointed. As soon as the
rate Ii fixed for the new loan, We shall be able 10
figure ont the result. In the meantime, the market
value Of the stock will probably appreciate and be-
come quite active. The sales ct the first Board to-
day amounted to more than three thousand shares.
The funds placed in the hands Of Messrs. Wad-
worth & Sheldon by the State Of Illinois, for the
payment Of interest on It's debt, were the accumua-
tion Of several months. There was an understands
ny WIN ING osato lleasurcr that inc use VI the
funds RENTED by him should be an equivalent for
srvices rendered in making transfers, paying divi-
fends, DC. An open account between the parties
vas kept which was sometimes largely In favor and
smetimes against the State Treasurer. The i'm
precision which has gone abroad, tina. Messrs. Wads
worth Sheldon received the amount from the State
o few days before the interest became due, in one
remittance, Is erroneous In accordance with an
express agreement with the State authorities, the
firm had made use Of the funds long before it had
become 90 much embarrassed We make this state
nent in justice to Messrs. Wadsworth & Sheldon
but we must condemn the system, practised by pri-
Sats banking houses in this and other cities to such
extent Of using trust funds placed In their hands
Cor special purposes.
The transactions at the Assistant Treasurer's
Office to-day, were as fonows:-