The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-09-20

of Mr. McCallom had created demand tor the stock for
permanent investment which would at distant day
have scattered in small lots all this country and
throughout Europe. Upon its merits alone the market
value Of the stock would have improved fast enough to
have satisfied holders out Of Wall street. Spectators do
not fancy this slow and movement, and moth 40
satisfies them but the rapid imitation sudde colapse
OF some bubble. They are currsse "a .nv good
railroad BLOCK on 'he market. 1t is, however, /
tneir ousness 70 rsep speculation active in some way,
"iD1s regard 70 railroad companies the losses OF
OUTSIDE orators. Fof some time past these ,ornerng
combinations have been Dead fsilures Years ago. before
outsiders understood the operation these cques
they often drawn into them, and furnished fuel TO
feed the fire. Even then they were wholly
cessiu Tho outsiders generally the losers, and
only few of the insiders secured any profits. Now
different state Of affairs exists Outsiders cannot be
drawn into the movement; they have had their eye
teeth cut and have been often bed that they keep
clear Of all stock combinations as buyers; and
II is well they do. At the proper time
they come In sellers, and probably do as
much the regular inside bears TO break the
bubble As general thing outside stock spectators
at the present moment sellers. They have had enough
Of buying and realize to its fullest extent the truth
Of the assertion have frequently made that is
the most dangerous business in the world to buy
latve railroad stocks in Wall street. Most Of the outside
orders Of the largest commission houses In the street
to sell stocks short. Merchants engaged in active bu
sness have their orders the street to SELL they do
not hesitate to sell any Of the most inflated railroad stocks
time their own option. This shows that revolution
has taken place among this class Of specuatorsa
luton that throws upon the shoulders OF the brokers
tho entire burden of supporting prices.
The market rather heavy to-day. Erie and Read
ing both closed at prices below the opening Erie fell of
u per cent; Reading Al Virginia 6's, Il; Illinois Gen.
trail bonds, =, Cleveland and Toledo 4. Cumberland
advanced = - cent; Illinois Central, n; Galena and
Chicago, Crosse and Milwaukee, =. New York
Central RdM sold 10 the extent of about three thou
sand shares without change in prices. Illinois Central
Railroad active than usual. The earning Of
sl27 COO in the first weeks of September have had
favorable effect on prices The gross earning for the
month will not fall much short Of $500 000 and the land
sales for the ne will up about 5000 600 The
transactions in Reading TO day principally for cash
There more Galena and Caicago offered today than
have noticed for time Parties selling
with the hope Of buying in much cheaper time in
October.
After the adjournment of the board the following sales
Of stocks and bonds made at auction by s. Draper
s4C0C Manchester, Min Man. Co. 6s of Nd hy'th II
2C0o New Albany Salem RR S's................. As
5000 Peru Indianapolis RR 7's............... 65s
5000 Del. Lackawana Western RR 7's,........... SIS
1000 Michigan Southern RR Observation-Disclosures. S2Is
is shares American Express Co.......,......100
tO Niagara FIRE lnsurance Co.. l43al4lh
Atthe second board the market weak and unset
tied Erie fell of 70 per cent Reading, Cleveland and
Toledo, r. The movement in Erie appears to have lost
It's force and spirit, and it looks good deal though il
had about out. 1. is hard up hill work to initiate
stock speculative purch and at this Of the
year Is particularly difficult The money market looks
though II upon the Of turn two towards
contraction. There active demand to day, and
sterling exchange closed firm at or 10 per cent pre-
have tight market there Is not the slightest doubt Oc
tober will not pass away without pretty twist
The steamship Fulton from this port for souha mpton
and Havre Saturday will take about thres
| quarters Of a million OF dollars in specie Tho total
shipment from this port this week will be about and
half million Of dollars. Next week than half mil.
| lion will 20 from Boston, and the Collins steamer from
| this port Saturday next viii take out somc
The Assistant Treasurer reports today follows
Total receipts. $l9is8 3s
Iota pay menus Ioloss 10
Total balance. Ia, 39l 81
The receipts Of the wiliamsport and Elmrs Rail.
road for the month OF August 1885, were. 900
August 1900. Booo
Increase SO per cent...................... $4,000
| This company commenced carrying coal the 9th
ns and the tonnage Of that article alone from 400 TO
600 daily. The coal trade or the willamspor and
EmIra Railroad next year WILL is stated reach $780, 600
| to zoe 900 tons
The following is a comparative statement Of the earn.
ings ofth York Central Railroad Company during
the month Of August 1855 and 1855
$50 IS
e4s Vos w
Increase. .nia5ls 20
The annual meeting Of the stockholders ef the New
Haven and Hartford Company hold at Hartford on
the l7,h. Tho following synopsis oil tho proceedings
| ind In the Hartford Tmea OF ast evening
The annual report was read and states the earnings Of
the road for ID year ending August 81, as follows
NEW HAyKs AID HARTFORD RAILROAD. $500
Passengers. .et304T A,239
1 fregnt.. 10000 Z5oO3s
Mails ACKNOWLEDGEMENTS. 356sl 1913
Toial. ACKNOWLEDGEMENTS e,Tes ST3ooi2
Expenses. ,3s3lpl SII,2l3
insfcet...sss'ss.. 'ssssss.s.s.. oo'ifo ooisos
Net earnings. so6 eloo, sl5
In 1854 the gross earnings s7sIe5, and the net
In 1sss sess s2s gross, saea 2es net
dent or injury 70 passenger. Its capital stock now
81 $50 600 and It's ou,ssndng bonds, bearing per
declared, payable october 1. The whole number Of
shares voted $50. out Of total Of 70 6oo The
through fare from Boston 70 New York has been raised
during past year from ave deIars which has
resulted in an increase Of revenue Tho receipts fell Oh
mainder Of the financial year
The following Statement, shows the amount Of copper
psssirg The Canal" from Aug 80 10 sept a.
Steamer Illinois 40 bbls.
Propeller Gen. Taylor.
From osseuason 70 Detroit ........... 1903 lbs
Cleveland ............ s0667 /"
{" Eagle River ..............Sslelo
Portage Lake. Detroit. ............... 12a0o "
70 Cleveland. ........... 2o,6oT "
Schr. Serman.
From Minnesota Nine. ................... 70 TONS
Ro cksnd ...................... 20
staten, mt Of the deposits and coinage at the branch
min, Of the Iassed States al New Orleans during Augus
1856
Deposits Of eolc-
California VOID $500 OIL
Cold from ,hor sources ................, ,t26 ~
Total gold del osss N7e4 IS
DEPOSITS Of silvt "
silver parted n ors California gold. 1881
silver from 9th, " sources. .2s0,7o1 Is