The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-05-02
FINANCIAL AND COMMERCIAL
MONEY MARK EFT.


There large sales to-day Of all the leading railroad
Stocks and with exception ali, st lower prices. A.
the first board Virginia osfs of 4 per cent; Missouri
6's, n; Illinois Central bonds, Y; New York Central
Railroad, u; Eris, Michigan Central Railroad, ~ II.
linos Central Railroad, ii Hudson River n; Michigan
6outhern, n; Cleveland and Pittsburg, NJ Galena and
Chicago, /; Csveand and Toledo, q Chicago ana Rock
Ialand, u. Panama advanced x per cent. The most
active railroad stock the market to-day WAS Erie
cpsnsd and elosed firm at SEX per cent. The largo
csipts Of this company for Apn have attracted good
deal Of attention. stands the cheapest stock
the list, with vide margin for rise. New York Con-
ai in moderate demand but the opening price wse
mot sustained. We have not heard anything about
the April receipts, but have no idea thst
they will b larger than those Of the Erie
Company. With an income varying but slightly In
amount, there be good Tor the wide dtar
the market value Of the stock Of the Two
panes. That New York Central should sell at e3k par
cent, while Erie sells at eek per cent is enigma
which must sooner or later b solved. No ons At al
acquainted with the internal affairs of both companies
for moment supposes that such . difference in real
value actually exists, and that difference must Be
largely reduced. Tho returns Of earnings for April Of
each company will satisfy the public mind that the
stocks are more equal In vslue than the market rs.
ssnts Reading appears to be sustained better than any
other railroad stock the Iist Most Of the Western
railroad sticks show comparatively very great dec'r.
Seine Of the best have reseded the most. In y
are all lower than We have reported before TO-
several weeks. It strikes us that better Il ne
to purchase h.s not been presented for month
The decline has in soms instances BEEN two and
three per cent in Of the best stocks and Per
manent Investments they present picss b cons
dered desirable purchases Michigan Southern And M
ehfean Central Railroad stocks certainly Chez;
enough at current prices. More than onehaK Of tae
semi annual dividend has already accumulated, and Ia
each IL viii BE- FIVE per cent in cash. With the
nous earnings Of all well located railroads. and 10 the
absence Of the construction Of extensive competition
roates 60 mot see any reason why all should not, u
der judiccus Management every year become more pro-
ductve, and more secure ~ investments. There has
been within tho past two years great revolution
railroad matters Three years ago In the midst
Of railroad mania which bid far 70 ruin nearly all
parties concerned. Bonds were thrown upon the
mAriet BY the million at time, and soldat any
crAce railroads contemplated every drec ion
andhs prospects decidedly bed for Ill the old ns.
Only portion Of the proposed roads have been c m
st1ucted end havs since had time to partially
from the rapid increase in these works Of internal
Improvement The time which has elspsedhas brought
Aboutthe second sober thought, and it would b
the most difficult things In the world TO get up ut
present ,me rival line TO any Of the routes.
II win bs years before the public mind viii again bec
diseased to encourage and sustain competitor ,ss
railroad. has proved losing business III round .nd
we have had enough offt
After the adjournment Of the board, the. follow n
sales Of bonds snd stocks were made at auction by A. H.
Nfoolay;-
s42 900 Breckenridge CoA Co., per cent Of $500