The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-06-25
FINANCIAL AND COMMERCIAL.



a. eagerly and e. thoughtlessy rs though suoh q
thing Is panic and revulsion were unknown. Ek-
perieroe does very little good In Wall street. No
sooner are stock operators through with ONE ool-
lapse than they are ready for another. II may be
that new cot OF operators are In the field. and
they may be . class who have never been severely
bitten, but they can no more escape than an insect
flying through the fame Of candle can escape
being singed. We cannot believe that th,ss who
passed through last year. scahed unsoathsd have
so soon forgotten the scenes and trials of tina.
period, and II is therefore reasonable to suppose
that the spectators now engaged in inassog stocks
with 30 much vigor, are new and fresh class OF
operators, who have a. yet but Q vague idea Of
the shoals and quickssnds which beses the naviga
tor In tina latitude of the Stock Exchange. The most
experienced and the most skful have been stranded
and those who escape may attribute it more to their
good luck than their good management.
AT the close yesterday, prices were not 80 high as
at the commencement Of the week. The int1a-
ton went on rapidly for q few day., when re-
action took place which nearly wiped out the entire
Improvement Yesterday, at the first Board, West
ern rsilread stocks ruled considerably below the
highest points OF the week, but We do not look for
complete relapse to the starting points. moderate
advance oan be sustained, and 1t csn bs gradually
enlarged, but the stock market is not in condition
to be up at the rate of two and three per cent
daily. Par or the neighborhood Of par, is tho
maximum for the best Western railroad stocks on
the market, and all beyond that Ia the result 0,
speculati0Ds, which must, sooner or later, react
upon these who have been promoters of the artif.
cial expansion. Money matters remain about the
same a. previously reported. The supply keeps far
in advance of the demand.
A. II. Nicolsy's regular semi-weekly auction sale
OF stocks and bonds will take place on MONDAY next,
at LIZ O'Clock, at the Merchants Exchange.
The Peoples Fire Insurance. Company have de-
ciared dividend Of Eve per cent. The Continental
Bank, q dividend Of four per cent. The Central
Bank, Albany, has declared ssmiannual dividend
Of four per cent.
convention of Yef resentativss of banks located
in the interior of this State viii be held In SYRIA
cuse, on Tuesday, the 10th Of July for the purpose
OF perfecting some plan for the redemption OF the
issues OF country banks to take the place Of the one
now In operation, and TO do away .effsctually with
'he system of extortion which has for some time
been practised by the Metropolitan Bank Of this
city. The country banks of Massachusetts, are en-
gagged in the same business. Several meetings OF
delegates from country bar ks have been held in
Boston, and the probability is that Bank Of Mutual
Redemption will be establiahed in that city, with
large capital, to take the place Of the old Suffolk
Bank II ia about time that both the Suffolk Bank Of
Boston and the metropolitan Bank Of this city.
were superseded by institutions in which all the
country banks were interested as stockholders.
The two banks above named have been regular Jack
Shepasds in the banking community, dam sudiug
,<osv~ ~ rle~ AZ
citation refusing. The country banks have the
remedy in their IN hands; and if thsy hesitate
about using it, let US hear no mora paiots from
them.
Coupons falling due on the LIST OF July, on the
bonds Of the La Crosse and Milwaukee Railroad
Company, will be paid at the Broadw az Bank.
The anthracite ccal ira ie the past week has been
very heavy. The whole tonnage of the three ssvera
lines for the week IL about equal to that Of the hea
West weeks business this season, reaching 1913 Ss
tons. The tonnage thus far this season Is 179I 400
tens. The Readi,g Railroad brought down for the
week ending on Thursday, 50,572 tons, m king for
the season, 1852 435 TONS against 910 ATT tons to
the corresponding period last year. The Sshuylkill
Navigation shows tonnage Of 80 084 tons for the
week. and 391 9l tons for the season, against $780,,
III to the same date last year. The coal shipments
from the Lehigh for the week ending with Saturday
last, are 1888 tons, against 1877 tons for the cor
responding week of last year; for the season
TONS against 1903 582 tons to the same time last year.
The falling of in the shipments during the week pre-
cediDg the last was occasioned, we are informed,
by high water preventing the loading and the run.
ring of boats. The retail market has been dull dur
ing the past week. the vet weather interfering with
the delivery OF coal In good ORDER It is represente
however, that the point Of depression In prices has
been reached. There Ia decidedly improved feel.
ing in the market, and general expectation Of in
creased activity. Even at this time we understand
that the supply Of some sizes Of Lehgh coal, more
especially of lump and stove Is short Of the demand.
The indications clearly In favor Of an approach
ing turn in the market, and there appears TO be no
good reason to doubt that all the coal that can be
brought down will be wanted.
The Boston Iravdier Of the 22d inst, ssys:-
1t reported that the directors Of the Vermont and
Canada Railroad, lJohn Smith, 9. 0. Whmore George
Of The ar ros 81 se 1T
July, for non payment Of rent recent decree OF the
Vermont Court requires the Canada road taking
tees John Smith, William r, Lee, and j. Eldridge)
amounting 1t is said to $500 600. Three of the direc
road including MT Dexter the President Of the Central
and Mr. smith, the President Of the Canada is Of the
three Central trustees. In multitude OF counseliors
there Ia wisdom but there Is anot quality
necessary for the welfare OF the bondholders and
stockholders, which it is hoped may be exercised for
their benefit, whatever changes may be made In the
management Of the corpor affairs The debts Of
the trustees Of thu Central for which they give bonds In
the Of $3.50 900, will form but small part OF the
liabilities to which the Canada will be subject II the
union Of the two roads takes place. Under the new
arrangement the Canada becomes responsible for all the
debts Of the Central OF whatever name nature and
under the existing laws Of Vermont this will render the
whole stock Of the Canada liable attachment and II is
questionable II the stockholders, generally, would
authorize step seriously affecting the value of their
property.
The Great Western Railroad Company Of Canada
earned In the week ending June Is, 1856, f8,305,
against 1881 for the same time last year.
meeting Of stock and bond holders Of the Sandus.
Ky, Mansfield and Newark Railroad Company, Mans
field and Sandusky City Railroad Company, Colum