The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-07-19
FINANCIAL AND COMMERCIAL.


rBIOAr, July ~ K. ~.
The stock market b depressed TO some extent
The hst westher has without doubt soms influence in
diluting prices 1t is melting down almost every
thing else, and we do not sec why stocks should
escape There are other and moro pseuasent causes
at work, which We foreshsoowed q few days since,
andto these causes must be attributed the present
depreciation in price,. At the first board to-day
Msso0n sc fell OF 4 per cent; Illinois Central
Bonds, 4; Erie Railroad, D; Reading Railroad, .;
Michigan Central Railroad, !; Michigan Southern
Railrpsd. I; Panama, Ii Illinois Central Railroad.
4 Cleveland and Pittsburg Railroad, L; Galena and
Chicago, I; Milwaukee and Mississippi, Ii Chicago
and, Rock Island, Z There WAS considerable acti-
vitS Il the decline, and sellers than we have
seen for q long time. Erie and Reading were sold
in large lots, both for cash and on time. The sales
of Michigan Southern were somewhat larger than
usual The burning Of the steamboat Northern Indi
ana On Lake Erie is undoubtedly the cause of the
large sales of stock and portion Of the decline.
Illinois Railroad bonds are lower to-day, but the
sales were not large. About two hundred shares
Of the stock sold at the first board, at q decline.
We notice the sale of fifty shares Milwaukee and La
Crosse Railroad stock at the first board to-day at 70
per cent buyer thirty days. This is the first public
sale Of this stock in this market. During the past
month there have been good many private specula
tons and sales have frequently been made at 10 per
cent, cash. The earnings of this company have been
greater on the same length e road, than any other
company ever realized in the Western States in the
same length of time. The road was opened in
January, 1856. In that month the earnings were
of course very small, but every month since has
shown increase that the total eipts for the
first six months, on only about fifty one miles Of the
road, were upwarus of one hundred and eighty thou
sand dollars. In July-the present month-the
earnings likely TO be larger than in June, and it
is estimated that the total receipts for the year end
ing December 81, 1856, will range between five and
six hundred thousand dollars This, on cost OF
only about and half million OF dollars, is most
extraordinary. Calculating onehalf Of the earnings
for operating expenses and have say $3.50, 900
to pay interest $500 900 of debt and dividends
81 900 900 of stock. This would be equal to twenty
per cent the first year, on short and unfinished
road. Such stock should sell for more than seventy
per cent.
At the second board the market was better. Erie
advanced per cent; New York Central l; Reading.
/. After the board prices advanced another frsc-
ton, but the improvement was partially lost before
the close. There was decided upward movement
in Residing, with large sales.
Up to the close Of business to-day the engage
ments of specie for shipment by the stea nship Bal
tic, from this port for Liverpool tomorrow. (Sssur-
day. amounted to $500, 900, of which 100000 was
silver. The above aggregate win probably be in
creased
The Illinois Central Railroad Company are about
issuing certificates scrip for $500 O00 in sums of
$500 and 81 O00 bearing interest at the rate Of per
cent per annum, the principal redeemabae on the
18th Of January, 1865. These certificates are issued
in anticipation Of the amount to be received for
5000 shares Of stock. which now represented
by optional rights privileges, which viii expire
on the LIST of January, 1865. The amount due at
that time this stock is pledged for the redemp-
on of this issue of certificates
The Assistant Treasurer reports to-day as fol-