The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-02-27
FINANCIAL AND COMMERCIAL.
NO EY n An X n r.

TUESDAY, Feb. 26-6 Pm.
The stock market was active to-day. Prices were
unsettled. The great abundance of money and the
ease with which stocks can be hypothecated, serve
70 sustain quotations, and keep the market com
paratively free from large supplies. At the first
board Missouri 6's advanced per cent; Nicaragua
Transit q; Harlem, /; Hudson River Railroad, B;
Michigan Southern, I. New York Central Railroad
declined per cent; Reading, 1; Cleveland and To
2edo, j.; Chicago and Rock Island, }. There is no
thing new In any of the leading speculative securi-
ties. The bank returns favor spectators for rise,
and it is the general impression that the ad
vances and the weather becomes mild, we shall
have very active movement in all kinds of stocks
and, of course, more or less imitation in prices.
Prices now current, compared with those ruling in
August and September last year, are low, and the
margin for rise, before touching points then real
ized Is sufficient to satisfy ordinary spectators In
some stocks there is q margin beyond the highest
points Of the past twelve months aud there is very
little doubt but that the widest margin in all will be
covered within the next four months Our banks
have once more passed the hundred million point in
their discount line, and their specie department is
many millions above an average. The expan-
sion Of bank loans has but just commenced,
and we see no probability Of any de.
crease Of consequence in the supply of specie. The
banks show in their last returns nearly sixteen mil
lions in hand with the semimonthly remittance from
California not many days distant In the event of
active expectation of specie commencing in April
or May, 1t will not require than regular re-
Ceipts from California to meet any demand for ship
nent; Int we have no idea that any such demand
will spring up that there will be any drain upon us
of an unusual character. It certainly looks now as
though shall retain this year more of our Cafor-
mia remittances Of gold than in any previous year
since its discovery in that country The banks Of this
city have now in hand more gold than they want The
burden Of such dead weight is serious matter It
compels an expansion Of loans more rapidly than
would otherwise appear. The banks do not really
require more than ten millions in specie to sustain
themselves under ordinary circumstances. 1t will be
necessary for these institutions deplete the specie
department in some way; probably by an expansion
that viii create moderate demand for shipment.
The opening of the spring trade will, without doubt,
give greater activity to foreign trade and the
payments into the Custom House for duties may be
sufficiently large to reduce the banks supply. II is
not often chat the banks complain Of plethora in
that department..
The stock market was better at the second board.
The general movement was upward. Reading
advanced per cent; Erie, J; New York Central
Railroad, 4; Panama, Hudson River Railroad, ];
Michigan Southern, }; Nicaragua Transit, /. The
purchasers Of Hudson River Railroad are some of
our largest capitalists in the rural Districts connected
with the New York Central Railroad Company.
' There is evidently some movement in contemplation
| the nature Of which we are yet ignorant Of. Some
short sighted individual is selling Nicaragua Transit
short at prices considerably below the current rates.
The probability is that few weeks will improve his
vision materially. The company's steamer which
left port yesterday for Nicaragua carried out nearly
seven hundred passengers. Reading has been taken
hold Of by strong party, and it is the impression
that 1t will touch higher points this time than were
ever before realized.
The Assistant Treasurer reports to-day as fol.
lows
PAID on Treasury sccOunt. s74,sso 4
Xnsc6Neo 90 ................. 36I 49, 90
Baisnce do ..................2,317,175 81
Paid ON 1isbarsing Checks. A768 II
The receipts to-day include 100000 for transfe,
dr. ats ON Boston.
The earnings of the Michigan Central Railroad for
the second week in February were as follows
1856. 1856. Increase
frelshs.. ............. 1850 80 lo,745 A 234 81
Total. .s22, 1856 II s2s,s7a 81 81 sss ~
The Muscogee Railroad Company have declared
semiannual dividend of four per cent. The gross
earnings for the six months ending January 3lst,
amounted to 100000 70, and the expenditures to
GAG, 4s9 H. leaving for net profits s5s, All 81.
1t is expected that the Toledo, Wabash and nli-
nois and st Louis railroad will be completed some
time in the month of May next The road is at
present in operation to Peru, distance OF one hun
bred and fifty miles, and the balance Of the road
nnetythree miles, is nearly graded. The total COST
pm completion. will be about sS,45O,OO0, of which
80 OOOO 900 is capital stock, and the residue bonds
The roads connecting with it are the Fort Wayne