The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-05-15
FINANCIAL AND COMMERCIAL.



The stock market took upward turn this morning
The improvement quite general and Of decided
character At the first board Illinois Central bonds ad-
vsnced = per cent PennsyIvania Coal Company, x;
Erie Railroad New York Central Railroad, x; Cum
bsrland, u; Harlem, "; Illinois Central Railroad, =;
Cleveland Columbus and Cincinnati Railroad u; Read
ing, x; Michigan Southern, u; Cleveland aud Toledo,
X. The transactions were large and buyers plenty.
There lae Of Erie seller twelve months At So per
cent The buyer is already large holder and represents
strong parties Reading was in very active dsmsnd TO
day 1T the improvement. day or two since, when
nearly a the leading stocks the list could have been
bought from half to one per cent below current
prices, the market was dull and there were no buy
EN-. The month of June viii bring IN easy money
market and higher prices. Tho ssripyency in money
matters. which is gradually subsiding viii, with
on. doubt, be the last for months 10 another
week or two financial affairs win move along again
in the usual channels, and TINS We may look 70.
. steady improvement during the dull business ssEqo1
Throughout the past two weeks there has been good
deal Of activity in bonds The changes have been hume
rous and frequently sudden It cannot be said Lat g.
any time dugng the movement money WAS rs-tt,aiAry
scarce. The market active without be'.s tight.
The banks may let out loans to the exsen ortedA
few weeks SINCE but in this absence of demsnd for dis
counts the present limit viii give fall supply An az
g-eQate amount Of loans OF hundred million in Jlne
and july would meet the wants Of the community to
greater extent than amount ten per cent larger In
March April. The heavy payments are nc~ over ~
the season. and money will accumulate In the hands Of
the mercantile classes Az It accumnlates In their hands
It will create disposition to operate in the stock markell
and the effect will be visible ia prices. rhs mer
chants 1t times heavy spectators on the sock E
change They employ their surplus capital In tnAt way
instead of letting i. remain in the banks for the mana
gers Of these institutions 1t for the purpose
The purchase Of good sound dividend paying stocks is
legitimate use for capital. In that way it will earn
something ard is easily convertible into money when
wanted.
At the second board the market better through
out. Erie advanced u per cent; New York Central,
Reading, Al Michigan Southern, n; Cleveland and Toledo
\; Cumberland, 4; Canton Co., u; Hudson RIVER Rail
road, u. After the board there was further improve
ment. Erie closed arm at tezs 81 per cent
The Assistant Treasurer reports to.day a. follows
Paid on treasury account .......... SOL 45e o. o.
Balance ................. 1891, S0a %
Paid for Assay Office. MINIMUM" l22S ~
Paid diabursing checks. .............. N,loS u
The steamship Persia from this port to-day for Liver
pool carried out freight 81, 43l 1856 SO in specie
The Metropolitan Fire Insurance Company has de-
vered dividend Of per cent, payable on
the 26th inst.
A. H. Nicolays regular semi weekly sale OF stocks and
bonds win take place TOMORROW, (chu-sday) 81 ls1s
| O'Clock, at the Merchants Exchange.
The books Of description TO the Hudson Riv aridg
Companys stock open at Albany, and will COZ
tinue open until the 25.h of june The capital stock IL
| $500 GEO. divided into shares Of 500.
The warrants entered st the Treasury DEPARTMENT,