The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-08-15
FINANCIAL AND COMMERC GAL.
MON EY ARK r. II.
TUESDAY, August li-5 I

TUESDAY, August iA--o \ nj,
The tendency Of prices was slightly downwaris at
the irst board to day but about the usual activity
prevailed. Erie Bonds 1875, fell of per cent; IL
iino,s Central Bonds 8; New York Central Railroad,
4 Erie Railroad, /: Chicago and Rock Island, /;
Wisconsin and Lake Shore, 2; Reading Railroad, !.
Virginia G's advanced per celt; Pennsylvania Coal,
J: Panama Railroad, /. The leading Western rail-
road stocks closed firm at yesterdays prices. New
York Central and Reading have attracted the aten-
ton Of capitalist than any other stocks on the
list The latter cells At about Eve per cent below
the former; but in less than Elk months there will
be greater difference the other way. The Reading
Railroad Company have within the past six years
paid larger aggregate dividend. realized greater
increase in It's gross annual receipts and increased
its capital cost less than any other railroad Of equal
magnitude in the country in the same length OF time.
In that period its dividends have averaged eight per
cent. its gross income increased nineyfonr per cent
its net income hundred and twenty-five per cent
while its cost increased only thirteen per cent ave-
raging fraction over two per cent per annurn. No
other railroad in this country can make an exhibit
anything like this, and yet this stock is selling at a
discount Of three per cent; while the New York Cen
trail, which every few years adds three millions Of
dollars to its cost, and upon capital twice as
large as the Reading but about twenty per cent
more, is selling at three per cent premium. The
Central, upon capital Of thirty-six millions Of dol
lars, viii earn this year. gross but about six millions
Of dollars while the Reading, upon capital of eieh
teen millions, will earn this year, gross about five
millions OF dollars. If fnanccrs and SPECTATORS
can reconcile the inconsistencies Of the relative
position OF the two companies, we should like to
see II. Michigan Central has been hammered at
pretty steadily by the bears lately but they have not
made much impression upon it, II has too many
strong friends to be easily permanently depressed
Illinois Central bonds and stock were ante active
to-day at about prices previously current The
transactions in bonds sum up 100000, principally
for cash. State stocks have been dull for some
days. Fancy stocks continue quiet, and do not vary
much in prices. Erie opened and closed heavy this
morning, and looks very much like going back 10
the point from which II started week or two since.
II has within itself no sustaining power. and only
improves during periods Of active speculation in
ether stocks. Buyers on time have no dividends 10
offset the rapid accumulation of interest against
them, and therefore find small advance in prices a
sorbed by that account Nicaragua Transit. Cum.
berland Coal, Harlem and Hudson River railroads.
arc only operated in to n moderate extent.
At the second board today there wac ra,bsss
heavy market. The amount of business ,ransactea
was small, and generally at lower prices Illuol.
Central bonds fell off per cent; New York Cen.
trail Railroad, !; Erie Railroad !; Galeua and Chi
cago, /; Chicago and Rock Island l. Reading ana |
Panama closed without change.
w. Edmonds Esq, having resigned the osice |
of City Chamberlain Robert Kelly, ESQ.,. has been |
appointed to I'LL the vacancy. The correspondence
between the Mayor and Nj. Edmonds will be found |
in another part Of this days paper tits a. hcbl,
character. Mr. Kelly il director ia
the Mechanics Bank, aud We presume the city fund
viii remain on deposit In that institution.
Tie earnings Of the Erie Railroad Tor tho month Of
luiy 1855, were ,.,..,,........ AIS 1ou W
siplng Ter JAY 1904 ,,.,,.... ....,..... 40fR
|
pes-e.- e,..,t-trt444.. .... ... 80 0g9 eg |