The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-07-09
FINANCIAL AND COMMERCIAL.


ftHDAf, July Go Il. n.
The stock market has taken just the we snti-
paed few days since predicted decline in prices,
and for the opinion then
board day Missouri 6's declined per cent Cumber
land, u; New York Central Railroad, l Erie, II Har
lem, y !, Reading i; Michigan Central Y; Michigan
Southern, z; Cleveland and Rttsburg, x; Wisconsin
Lake Shore, ~ The upward movement In Illinois Gen.
trail Railroad stock to-day very extraordinary Yes
terday closed at 10l per cent and opened this morning
with active demand at 1O4x per cent showing sd
vance Of 3sl cent in about twenty four hours The
purchases entirely for foreign account and the orders
are larger than be easily filled. There Is very little
stock the market holders look for great premium
before the lapse OF many months The bonds sold freely
to-day, and closed steady 81 per cent The bonds and
stock Of this company fvortcs with foreigners and
will ultimately be almost entirely absorbed by purchases
for remittance. The land feature Of this company
gives its securities standing superior to those Of any
other railroad in the country The land sales of the Iii
nois Central Railroad Company in June amounted to |
$341 2sl The quantity sold l6 $40 acres averaging
SIS 90 per From january LIST 70 July lst this
year, the sales up s97sl acres, for 81, 1870 7l2
Since January !, 1864 period OF eighteen monhs-the
land sales amount to 2so Thus far this year the
sales have averaged about SIS per acre. which nearly
double the average fixed upon in the earliest programme
An average Of this throughout would produce ag
gegate Of nearly double the entire cost Of the road and
equipments. There more activity than usual in Chi
cago and Rock Island Railroad day and the principal
sales were advance Of u per cent the closing
prices Of yesterday. Cleveland and Toledo improved
the opening with large transactions The greatest decline
to-day IN Reading There not much stock offered
sold at the decline which shows that holders look upon
the depression merely as q temporary matter. The
dividend for the months ending l, 1885, will be
fopr in Ia
eight per cent The dividend of rates would
make the stock cheap, even with the prospect Of
only four per cent the next six months. The
stock market on the whole, Is weak. The recent
imitation in prices has been full much any stock
could bear, and than could be sustained. 1t has
been all that could reasonably have been expected The
season is daily working against any advance. In
few weeks shall be in the midst Of the fall business,
and must look for more active money market. 1t is
impression that the importation Of foreign manufactures,
&C.. into this port during the three months win
coed in value anything before known in any single
The easy money market Of the past three months
has given European manufacturers the idea that
in condition to consume more largely than usual, and
they win send over immense supplies on their own &C
count, in the absence Of direct orders.
After theadournment OF the board the following sales
OF bonds and stocks made at auction By Simeon
Draper
$4,000 Erie. Wabash 81 r, 1s mt, int ad'd73 13k
1000 Belefontaine Indiana RI, do. do........ II
1000 Chicago 4 Mississippi RR, los. do........ 62k
200 shares Beefontaine Indiana RR ............ 80
80 Chicago, 81 Paul a Fond du Lac RR.......... 80
lOV III unswick Sty on
AT the second board the market for some stocks was
little better. Erie advanced PER cent; Reading, "a
Cleveland and Toledo, a. This road has inst completed
important arrangement with line Of boats navigating
lake Erie. The line running from Buffalo to Cleveland
enables passenger TO leave Buffalo al night and reach
Chicago several hours In advance Of boats Detroit
Toledo. During the summer this WILL without
doubt add largely to the passenger earnings. The
cepts for June amounted to s 0s0 against SIS for
the same month last year, showing an increase Of
sl2,22o The following gentlemen elected the
I'd inst directors for the ensuing year,. d. warng
Cleveland; Elisha c. IAchacd, Chas. Butler f. B. Itch
field, New York: VIM. Jarvis, Mddetown, c.; Joseph
Lyman, Daniel z. Rhodes Cleveland John Gardiner
Norwalk, Ohio; +. T. Barney Sandusky J. b. Wxriug
elected president, and l.. B. Ltchncd treasurer.
The Ocean Steam Navigation Company have declared
fcmi-annua dividend of Ave per cent the Etna Fire
Insurance Company OF this city SCENTS dividend
OF eight per cent the Nassau Fire Insurance Company
Of BROOKLYN semi annual dividend Of per cent the
Charter Oak and Mercantile Banks both Of Hartford c.
each semlapnual dividend Of five per cent; the Fire
mems Insurance Of Boston twelve per cent the Bates
Manufacturing and the Hill Manufacturing Companies,
each four per cent the Saco Water Power Company,
fifteen dollars per share.
The Assistant Treasurer reports today rs follows
Paid on Treasury account ............. SIS o75 81
Received Treasury account ...... 2q6 013 0s
Balance on Treasury account 1855 ~
Iaid for Assay Office .................... 46Sl s5
Paid on disbursng checks 3i22o %
The receipts include $4,000 for transfer drafts on Bos.
ton.
The earnings OF the Milwaukee and Mississippi Railroad
Company June amounted 10 500 52l against SOS i27
for the month last year. showing increase Of 81
3es for the month this year.
The steamship Asia, from this port for Liverpool TO-
orrow-wendesdsy-w take out about one aud half
million Of specie on freight.
The latest quotations for land warrants fot.
lows -
txD hcfeb.s.. ~
~ aNrt-s 70 W
leo ACKNOWLEDGEMENTS. o2a %
lOo n