The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-07-12
FINANCIAL AND COMMERCIAL.
MONEY MARKET.

Y tNANCfAL NINO SOMMGNSNASs
MONEY MARKET.
FKinAs, July ll-6P.M.
The stock market little active at opening
&his morning. All the leading railroad
demand, but prices unsettled, and closed with q
downward tendency. State stocks and railroad bonds
were quite buoyant. Illinois Central bonds drm at
- per cent Northern Indiana Goshen bonds sold at s9
which advance of ~ per since the previous
sale. Michigan Southern Sinking Fund bonds held
at 90 per All classes of Erie bonds steadily ad
vsncing. First class first mortgage railroad bonds
destined 70 touch much higher points The abundance OF
money the principal markets of Europe will affect the
value Of these securities favoraby and rapidly
than any others this side OF the Atlantic The inquiry
Tor American stocks in London is the increase and
orders have been for the first mortgage bonds
ell leading Western railroad companies the fuflment
Of which already put up prices several per cent At
tho arst board day Illinois Central bonds advanced
per cent Northern Indiana first mortgage Goshen bonds
AK Erie bonds, 1871 u. Canton Company went up per
cent; Illinois Central Railroad, u New York Central
Railroad declined per cent; Chicago and Rock Island,
u, and Reading, r. The movement in Erie was to some
extent without change in prices 1t opened and closed
at CAY per cent There sale Of 900 shares at
e4k per cent, buyer four months The large receipts
OF the road the demand from Europe, and the large
purchases on domestic account, are considered by
but they lose sight Of the fact that advance in mar
ket value gives early purchasers greater profit and
therefore the greater probability Of their realizing New
buyers would not be abundant at higher points and
the absence Of dividends. The interest account Is
cunning against the stock. We are among those who
think that very remote period Erie Railroad stock
will be worth much than IS now selling for; but
In the meantime movements in the money market may
depss the current value of that and every other stock
An.tr in uoln
have learned operators to realize good profits when they
could and turns are frequently made, particularly by
SPECTATORS, for . rise.
At second board the market decidedly better
Erie Railroad advanced :. per cent New York Central,
\; Canton Company, ~; Reading "a Michigan Central,
" Illinois Central bonds, u; Illinois Central stock, 4;
Cleveland and Toledo y. After the board higher prices
ruled and active demand existed for stocks.
The steamship Hermann from this port for southamp
ton and Bremen, Saturday will take out about $780,
OC0 in gold.
The Assistant Treasurer reports today follows
Paid on Treasury account. ............ sla,6!9 90
Received ................. 323, SaS 81
Balance .................. o,ool,oo ~
Paid on disbursing checks H,o7S IS
The receipts include 600 Chicago and $50 900
from the Mint.
BY reference table in the late repor, Of the Gaena
and Chicago Union Railroad Company, will be that
for the year ending May 1882 that company had sixty
miles OF road in operation and their earnings for the
year SIT ,s2s, and they made dividend Of feen
per cent The La Crosse and Milwaukee Railroad Com
pany had operation, from LIST January 23d April
fty miles, and from 23d April LIST July sixty
miles Of road and their earnings for six months only
amounted 70 Slso,57e.
The RepcbHc Fire Insurance Company have declared .
semi dividend Of three and half per cent The
Beekmsn Insurance Company, semi annual dividend Of
eight per cent. The Ohio Life and Trust Company,
annual dividend Of four per cent The Indianapolis
and Cincinnati Railroad, semi annual dividend OF four
per cent payable the Eastern stockholders the 18th
instant. the ece Of the Ohio Life and Trust Company.
The Norwich and Worcester Railroad semi-annuAl div
dend ftwo per cent payable scrip the 2lst inst
The Brooklyn City Railroad Company semiannual diyi
dend OF four per The Bank FOR Savings Blocker
street. declared the usual interest dividend at the
OF aye per cent per annum on all sums under $780,
and at the rate Of four per cent on larger sums.
The steamship Africa, at this port from Liverpool
brings four days later intelligence. In financial and
commercial point OF view, il Is highly favorable and salts
factory The Bank Of England has reduced the rate Of
interest hall per cent and Il is expected that fur
cher reduction Of half viii follow. The Banks
bullion shows increase Of f35e ia in week Con-
sols show an Improvement Of 4. to per cent, And
easier money market reported. The cotton market
active and arm full prices In the better qualities
slight advance had been realized. much healthier
tone was aparent the manufacturing districts Bread
s,ufs we're in active demand, nj Improvement In
prices flour Was from shllings better. Ba
rings' Circular says there was an active demand for
American Securities, without change in prices.
meeting OF the stockholders Of the Accessory Tran
s Company Is called for the 18th inst at O'Clock, Al
the once OF Tracy, 2ek Broadway. full attend.
desirable, Is very important matters viii be pre-
senteA Tor consideration.
letter. dated At Toledo, yesterday, reports the bust
oess q the wabash Valley road fAs, increasing. Al
present coe miles Of the road open from Toledo 10
Lafayette The letter saysA very handsome train OF
twenty one loaded came in this morning. and thirty
three cars yesterday morning. THIS road win be an
otant fecder tho Cleveland and Toledo both for pas
sengers and feighting business
The receipts Of the ss0singtoD Railroad Company In
june were $500.
Pnss.n0va. Freight
1865. .s12 97s % s7.s25 II
fSS5. IL 55 u son 50
increase. tsLo ~ Dec flso 10