The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-08-12
FINANCIAL AND COMMERCIAL.


eONE1 MARKET.
MONDAY, Aug 1l-6 P. M.
Ttere WAS very blue stock market to-day. The
week has opened gloomy enough for holders of
stocks At the FIRST board there large sales at
the decline and the disposition to cell appeared to
hourly increase. The demand for money was active
at full rates and pretty sharp shining was neces
sary up to the latest moment. At the first board
Illinois Central bonds fell of per cent Cumber-
land Coal, /; New York Central Railroad, 1; Erie,
i; Reading, 4; Michigan Central, 4; Michigan
Southern II; Panama, q; Cleveland and Toledo, Z;
Chicago and Rock Island, 8. Here is list that win
give outsiders at distance pretty good'idea Of
the present condition Of things in this market and
from this they can foru pretty correct idea of what
is coming The demand for money to-day was very
active and the impression in the street early in the
day Was that the banks must have called in loans
pretty sharp. When the bank staten eut appeared,
and showed contraction of only about thirty thou
sand dollars the effect was by means of favorable
character. Il was argued that If money was ia such
active demand without any contraction of bank loans
we might expect serious times when the contraction
commenced. The reduction in deposits is an unfa
gorable feature in the present report. The demand
for money cannot be satisfactorily &C ounted for by
the bank managers. They are little astonished at
the present activity, and well they may be. Socks
were turned ont to-day in large lots. Nearly every
stock on the list freely ohered, and all the cash
purchases were by the shorts for elisery. When
stock WAS taken in, it was put cut again immediate
Iy on time, buyers sellers option. There are nnu.
merable causes for this decline in prices. and.these
causes VIII operate strong enough and long enough
to bring about much lower rates. There is no out
eide absorption and there can be none Outside hold
ers viii be obliged to sell, and as for acy new
purchases it is utterly out o. the question. Those
who entertain different opinion now viii soon
change their minds.
After the adjournment of the board the following
sales of bonds and stocks were made at auction by
A. h. Nicolay:-
$4,000 chi. & Rock Island RI Is. mtg int ad 9sNas4
$1,000 L. E.. W. St L. 4 T. K II RR.. "a int ad So
100 Cleveland and Ptishurg disiaend int added 63
20 shares New Amsterdam Insurance. Company. los
so New York and Erie Railroad Com ........ 5ei
30 Rutgers Fire Insurance company.
so Arctic Insurance Company e44 os}S
20 Equitable Insurance Company 1917
8. Draper win sell, tomorrow, among other secu-
rites at the Merchants Exchange, some of the
bonds of the Lackawanna Railroad and Coal Con-
pany. These are first mortgage bbnds secured upon
valuable property, well kunwn to the large body
Of intelligent New York capitalists, who have for
some time had their attention liked upon this Lacka-
wanna coal district.
At the second board the market very dull.
The aggreg ate transactions sum up only about five
hundred shares OF all stocks. There plenty Of
stocks on the market bat there are no buyers. The
lower prices 60, the greater the DISPOSITION 70 SELL
After the board stocks generally we're lower. Erie
railroad closed a. 5s4 per CENT Cleveland and Tois-
do IS; New York Central, $50; Michigan Southern,
8s4; Reading, s6l. AL these stocks were offered at
these prices, without finding buyen, except among
the shorts. The market " decidedly sick, and we
fear the disease is Of chronic character.
The Long Dock Company of New Jersey have
called for another ins,alment Of twenty per cent,
payable on the LIST Of September.
The Arago's news Is no later th ian that received
by the arrival at Quebec The detailed reports OF
the money and produce markets 10 Mt give us any.
thing more favorable Consols were hat, without
change in prices. Money was more active, and on
the Stock Exchange rates rnied a. high as four and
half per cent. The drain OF bullion from London
continued and there was no probability OF let az.
The arrivals in London from all quarters Sere sent
Immediately across the Channel. and il was the i'm
preston in financial circles that the drain
rouli be continued The next Sank OF England
return " likely TO be bad We look for great
dearth in the specie reserve. The markets for our
staple exports are not in q very satisfactory condi
ton. Quotasions for cotton we're without change
while breadstuns were lower, with very limited
demand.
The steamship Arabia, from Boston for Liverpool
on Wednesday viii take out between six and seven
hundred thousand dollars in specie. Upwards of
$500 900 have already been engaged, and the proba
hlity In that amount will be increased both from
this port and at Boston. We have two steamers
from this por. for Havre direct this week, and the
Atlantic for Liverpool on Saturday. BY each of
these conyeyanccs there win be specie shipments.
The earnings Of the Milwaukee and Mississippi
Railroad fot tae month Of July foot up as follows
Passenger
Freight .sstss..s..s.'s 'Vo'o %
Tothl. -
Tor the corresponding month last year the earn
ings Of the road we're i7,ljs-sho wing gain Of
sl602b Cor the current season.
The following are the receipts OF the Illinois
Central Railroad for the mont Of July, 1866
Transportation OF freight ss3 $50 Is
TRANSPORTATION OF passengers. - 40 20
Transportation of mail and express. 300 u
Bent ofroad, &c, estimate. llleo p