The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-06-18
FINANCIAL AND COMMERC GAL.
DT 0 N e 7 M A n X II II.

TUESDAY, June 10 r. M.
The first board opened this morning heavy. Lower
prices ruled and there general disposition to SELL
All the leading railroad stocks freely offered at
lower prices and the bears put out contracts literally
Nicaragua Transit declined = per cent; Delaware and
Hudson q Cumberland, * New York Central Railroad,
* Erie Railroad q, but closed at yesterdays prices;
Michigan Southern * Galcna and Chicago, II Hudson
Railroad, x; Milwaukee and Mississippi, r. New York
Central 6s advanced z per cent. There was larger
business than usual in railroad bonds this morning ana
quite variety of the derent~classes were sold These
securities gradually but steadily improving in market
value and the current rates Of interest reduced by
the greater supply Of money railroad bonds must COM
mand higher prices.
At the second board the market experienced very
sudden and violent reaction The by the Arago be-
came known between the boards, and the bears con-
strucd favorably than anticipated and purchased
largely. The most important rise in Erie. With
very large sales the improvement reached nearly
per cent: Delaware and Hudson advanced per cent;
New York Central Railroad, 1; Reading l; Cleveland and
Toledo, x; Galena and Chicago n Michigan Southern
Railroad, TX. After the board this advance was sus-
aned but many operators awaited themselves Of the OPP
portuniy to put out short contracts. While the bears
panic struck and purchased largely outsiders, who
have heretofore kept out Of the market entered as SELL
1t is undoubtedly the impression of those who
are putting out short contracts that the worst
is vet to come The reaction to-day not
justified by the complexion of European adviccs. We
have yet the effect upon the public mind Of
Great Britain of Mr. Champions Dismissal and when the
fact that only the British Minister but the three Con-
sus have been sent home, reaches England there will
be- beyond all doubt excitement throughout the length
and breadth of Great Britain such has not been known
for many years week or two will bring the whole
programme.
The steamship Arago, at this port from Southampton
and Havre, has s45 900 in specie board rs freight
The steamship Niagara from Boston for Liverpool to-
morrow, will take out about $500, 900 in specie.
meeting of the stockholders of the late Knckerbock
er Bank is called by the committees for Wednesday
evening" the 18th inst, at tho Broadway House.
We notice circular Of Mr.. Albert H. Ncoay, offering
portion of the stock of the Shawneetown Coal Company
safe and profitable investment II is stated that this
company in tho hands Of gentlemen whose references
here of the first responsibility Tho general use Of
coal for economical purposes wherever it can be conve
ncny obtained, renders II substantial element Of
wealth which is every day becoming more and more i'm
portan and it. supposed the lower valley Of tho Mis-
sisspp river New Orleans and the Gulf of Mexico be
supplied from these mines with abundance of good
coal the success of this enterprise, well managed,
hardly be considered doubtful
The Assistant Treasurer reports to-day follows
|, Received " .................. 1926 020 Al
Balance " " ................. @, 294, GAL 90
Paid for Assay Office. 2l521 So
Paid on dsbursing checks. 1904 "a
The steamship Arago, at this port from Southampton
and Havre, brings four days later intelligence from
England and the Continent Tho advices do not differ
materially from those received by the previous steamer
Quotations for consuls show decline Of 4 per cent.
Money WAS in better demand but the supply ample,
and the rates of interest tended towards lower points
Tho political differences existing between Great Britain
and the United States had a depressing influence upon
financial affairs and upon the stock market generally
The stock market Of London affected in the way
With plenty Of money Mt low rates Of interest
prices depressed, and speculative feeling pre-
vailed. In cotton and breadstus there had been no
change. The markets dull. This steamer does no
bring any later bank returns but the reporlf the
different markets show that the previous favorable re-
without eect prices for stock securities or
our staple products.