The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-02-15

FINANCIAL. AND CO NMERCIAi
M0NEK Jar II u A.
THURSDAY. Feb /,


The stock market continues very active and very
buoyant. The excitement at the board this morning
was intense. Speculation has spread over the
whole list and the public mind has become COM
pletey absorbed in the movement At the first
board today, Hudson River Railroad bonds, third
mortgage, advanced IL per cent Illinois Central
bonds, I; Canton Company, 3; Cumberland Goal. 3;
New York Central Railroad, !; Erie, !; Harlem, 4;
Panama, !; Reading Railroad, /; Hudson Railroad.
Il; Michigan Southern, L; Cleveland and Pitts
burg, 2; Milwaukee and Mississippi Il. Nicaragua
Transit declined { per cent Galena and Chicago
Il; Cleveland and Toledo, t. The most active stock
on the list to-day was Cumberland. Galena and Chi.
cago was freely offered at the decline We have
heard many complaints lately against the manage
ment of this company. Dividends, both of cash
and stock payable in Chicago the LIST Of Februa-
ny, have not yet reached the owners hands, and
many parties have been put to serious inconvenience
It is very evident that the company's officers do
not understand the way of doing business
upon the most modern systems. It may
seem all right to the President and secre-
tary to put of, to suit their pleasure, the pay
ment of dividend; but it is not so comfortable for
the parties receiving it. We publish in another col
communication from one Of our cotempora-
res, reviewing at considerable length the affairs Of
the Galena and Chicago Railroad Company. We
give it for the purpose Of creating inquiry, and if
the abuses ext Of bringing about reform. There
is no doubt that the board Of directors would be
much improved by some changes in its organization.
Those interested should attentvely read the article
referred to. 1t is always best to see everything that
can be said against company, as well % every
thing in its favor. The Improvement in Milwaukee
and Mississippi to-day was no more than we antici.
pated. The great difference between the market
value Of this stock and Calena and Chicago, and the
moderate difference in their actual produciveness,
have attracted the attention Of holders Of the latter
and changes have been made to some exte ut in the
investment Some time since we stated that
sales of Galena and Chicago had been made
and the proceeds invested in Milwaukee and
Mississippi. That movement has been going on
steadily for some weeks. The recent advance
in Gaena and Chicago has given new impetus to
the movement, and the effect Is seen in rise Of
toir per cent in Milwaukee and Mississippi. Michi
gan Southern opened this morning at s6, and closed
at 81 per cent The greatest advance to day was in
Cleveland and Pittsburg. The sales amounted to
about thousand shares opening at 66 and closing
at 6ls per cent For some time past small purchases
of this stock have been going on, aud the market
value has been steadily approaching. The public
have not yet taken hold of it, but as soon az ts
merits become more generally known, it will attract
capital and be taken hold Of, both for speculation
and investment Hudson River Railroad stock sold
to some extent, this morning, at an advance. The
transactions were all on time. Reading sold freely
at fraction above yesterdays prices. 1t fell of
little at the close. This stock has not partaken Of
the general improvement. The margin for rise is
certainly large enough and the amount of stock on
the market is not very great. IT is an established
fifteen per cent investment, and should long since
have ruled above par.
After the adjournment Of the board the following
sales Of bonds and stocks were made at auction by
A. II. Nicolay:--
ss 900 Chi. Miss RR. LIST mort 7's int. sddsd 70
10, 600 Great Western Qn.) RI. los do. o0s90*
o0c0 rorre Haute Alton RR I'd not. 8's Co 1871
200 Three be- winifreae Min & MI Ga. d.. 49,. IL
10 100 Lake Erie, Wabash ST. Louis sR I'd mort.
nouccnvertiole DDS, mt aided ........ 80
5000 Toledo and Illinois Re- % mort. per cent
nonconvertisse ods., int. added........... So
90 shares Sixth Avenue Railroad ............... IS
70 Green Bay, Milwaukee n Chicago aE......... T6k
20 Bowsrv Era SrnI Insnr.n,: q i1S
40 Enterprise Fire Insurance Co.. ............ 10
The following Gales of stocks were made at auc-
tion by Adrian H. Muller
% shares ApaiachicolA Land Co. per share.
10 do. do. ........ 40
400 American Land Co. do. ........ 1bk
44S do do. ,...... IL
% Mississippi Land Co. do. ........ %
Simeon Diapers regular semiweeky sale Of
bonds and stocks will take place tomorrow Friday,
at ha-past IL o'clock, at the Merchants Exchange.
At the second board there was very important
reaction in prices, the natural consequence of such
a rapid rise. Erie fell off per cent Cumberland
/; New York Central, 1; Harlem, !; Michigan Gen.