The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-02-06
FINANCIAL AND co xMERciAL
MOHEY N AR n n =.

TUESDAY, Feb. Sc 2. NJ.
The stock market was very buoyans this morning.
At the first boz there were large transactions ge
nerally at better rices. Erie bonds 1875, declined
per cent; Nicnsgua Transit, ]; Cumberland,
New York Central s advanced per cent? Penn
syivania Coal, 4; New York Central Railroad, 4;
Reading Railroad, !; Hudson River Railroad !; MI
chigan Central Railroad 4; Michigan Southern RAN
road, I; Cleveland, Columbus and Cincinnati hili-
road. I; Gaena and Chicago, /; Cleveland ana 10
ledo, u; Chicago and Rock Island, 2. Illinois Cen
trail bonds we're in demand and firm az our quota
lions. Erie was steady, with limited movement.
The decline in Nicaragua Transit created some ex-
element to-day 1t opened at 22] and closed at 2l4
per cent The sales sum up more than two thousand
shares. There is evidently an important meaning
in this sudden decline. We have expected for some
days that lower prices would rule and have no doubt
further depreciation will be realized but it will
only be preliminary to rapid advance. There are
parties inter sted in this stock who cannot or rather
who viii not, permit it to run down to any
thing like previous points. Michigan Southern
was in active demand to-day, but the sales were not
large. 1t opened at 9le, sold as high as 92l and
closed at 81 per cent. The impression has now be-
come pretty general that there is some movement in
this stock. 1t evidently is not in any way
nected with the street any further than ia the
making OF purchases. 1t is outside affair entire
ly and so far can learn, emanates from parties
intimately acquainted with the history and future
resources OF the road. The movement commenced
with the completion of the contract for constructing
the Detroit connection, and the importance Of that
extension to the main line has attracted q class Of
purchasers entirely new TO Wall street Before this
matter was consnmmated, before the Detroit con-
nection was secured, the Michigan Southern Rail
road was substantial ten per cent investment but
now that it will soon have terminus that will COM
nand the bulk of the travel via the Suspense n
Bridge, it must become much more productive,
and rank as one of the most complete lines
in tie Western country. careful examination
of the whole map is sufficient to convince any one
of the great superiority of the Michigan Southern
route via the Northern or Southern shore to Lake
Erie. over all others, to and from the West. The
fact that every effort was made by the Michigan
Central Company to prevent the Michigan Southern
from forming the Detroit connection is sufficient to
show how much importance they attached to it.
For time these efforts were successful; but the
passage Of general railroad law by the Legislature
Of Michigan gave the Southern road the privilege
which special legislation had SO long deprived it Of
Reading was active this morning, at better prices.
1t is good investment at prices 10 and Is per
cent above these now current; but if man buys it
on speculation he may lose by the operation. A
prominent bear purchased largely of Cleveland and
Toledo this morning, at prices higher than have
ruled for some weeks. There was marked i'm
provemen to-day in Chicago and Rock Island.
After the adjournment Of the board the following
sales Of stocks and bonds were made at auction by
Simeon Draper
$40 COO Ohio Il Miss. RR E. Div, Iss NJ lat add 80
1900 do do I'd do So
1000 l. Erie. wsb b st. Louis RR, lat NJ. do "a
q In o. do