The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-09-13
FINANCIAL AND COMMERCIAL


and the quantity pressing for sale does not
pear to be in the least diminished. Nearly six th
sand shares of Erie sold 1t the first boa
about three thousand shares of Reading, two thousa
New York Central, and four thousand Cleveland q
Toledo. good portion Of these sales were for cas
The bears have supplied themselves pretty largely VI
stock and are now ready to make all their DELIVERED
The purchasers daily becoming weaker and less Of
10 carry such large blocks and any sudden twist In
money market would make them drop stocks as quick
so much hot lead. II is all fair weather and snnshi
just now. In the midst OF all this ease and buoyancy,
would not be at all out Of place be prepared for chang
There is no resting place for the great bulk Of the eadi
railroad stocks The brokers have TO carry them o
The street has tC bear the entire load and ia getting
be very serious dead weight If the banks do not co
tract-f there are no shipments OF spece-R there
. full supply Of foreign exchange at low rstes-K
money market remain eaay-n the harveats are god
throughout Europe-f the demand In London for Amer
securities continues good-if consols do not
cline and If good many other things do do not happe
the market value Of stocks may improve. There ID
doubt If all the above Ifs realized the bulls ma
for time keep up quite speculative exrtement On
get hand greater supply OF stocks at higher price
It takes . combination Of good many crcumstan ces
keep up IL aon in the stock market. is The wron
of the year to look TOR such series OF favor
BILE events and without the probability Of attracting
side SPECTATORS the brokers win find load Of stoc
TOO big to carry for any length Of time.
AT the second board there active market br
prices not quite firm as in the morning. Readn
Railroad fell OF 4 per cent; Michigan Central, x; Ceve
land and Toledo, u; Cleveland and Pittsburg, n. I'LL
nois Central Railroad closed at 119 per cent cash,
very little stock offering at that price.
The land sales OF the Illinois Central Railroad COMPANY
for August, have produced SSsl,744 90, and in deta
have been as follows
81 $50 0s Construction Lands $685. 1913
3,702 10 acres Free Lands 66,67b o.
966 70 acres interest Lands. ............ H,237 3
q 1888 acres: $376, 2Sl
Town iOB SOLO ior ....................... o,4W y
Total .................... ........... SSSl, "a
Sales In 1885,. OK, 77S
Total " 003 or s.
Prior 70 January 1856. 5,6os571 81
The land sales for the first week in September reached
the extraordinary total Of $780, o00 the average
$40 4s per The earnings Of the road in the game
week amounted to SIS, 800
We hear OF engagement for specie shipments by tn
Ericsson, from this port for Liverpool There
has been change In quotations for sterling exchanged
Bankers bills rule at 1927 per cent.
The Assistant Treasurer reports 70 day folows:-
Total receipts. Sl59 $50 81
balance. Id Ia, 859
The warrants entered at the Treasury Department
Washington, on the 10th inst, were ~ follows
For the Treasury Department. ......... 500 eea sd
For the Interior Department. ts4!a q
War warrants vcd and entered. ..... 40,s04 cd
War repay warrants received and entered. loA %
From mkcellantou Gus sources. ............... 6e7
Independent Of the claim for the steamships Norther
Light and Star OF the West OF $40, Oo0 secured by Z
hiatt In lair, for
$4,000 which the two steam, above named
and all the rest belonging 10 the company also mort
gagged. These Claims bunting 70 $50 0o0 secured
by mortgage the steamships Northern Light, star al
the West, Prometheus Daniel Webster, Cortes, Pacific
Uncle Sam and Brother Jonathan. thus appears thaj
eight steamships either Of which worth nearly the
entire claim, mortgaged TO comparatively q
small debt. The mortgage given upon these steam
acknowledged on the 10th OF June iast-the
very day Injunction was issued restraining tho
company from any such acts. We understand thas
application viii be made for attachment
for q violation or the Injunction. II Is said thas
there evidence enough TO prove that the injunction
served before The mortgage was acknowledged. II 10
full time the appointment Of = receiver made by tho
court and Is for the interest OF every outside stock
holder that the eompanys Affairs be placed 10 proper
hands. The Transit Company have been 10 he receipt o.
$4,000 per month from the Pacific Mall steams hip CON-
pany snce January a and the aggregate receipts from
that source, In that time, have not been less than
$500 ooo This would have than paid or the entire
debt against the company had been applied 10 that pur-
pose; but cannot learn that portion has been
appropriated The appointment OF receiver would soon
clear up all thcsc mysterious matters, and tho stock
holders would stand some chance Of getting back small
part OF their investment Az h the probability OF their
ever getting dollar u very poor.
T1a mir 1f Ina ttshu Tor We .nI
20 Railroad for the month OF August 1885, we're az fol-
lows
August 1853 s152oo2 IS
August ioeo...''..s..s e232s 90
Increase, IS per cnt................. s6o,e53 %
Ias year the Ohio and Pennsylvania Ohio and In
diana Roads (Which are finished and running portion Of
this Incl separate interests Since then they
wth the Fort Wayne and Chicago Company have since
consolidated under the above name, making company
from Piiisburg to Chicago.
We understand tina, George D. Phelps, ESQ.,, has re-
signed his position President Of the Delaware Iacka
wanna and Western Railroad Company. This step has
been for some tme contemplated by Mr. Phelps but wo
assured that he dssolvcs his official counexon with
the company retang his interest one Of the largest
stockholders, and with undated confidence IN the ult-
mate success Of the enterprise.
The following the receipts on the Morris Canal for
the week and season ending the elh inst compared
with the receipts TO corresponding time last year
Total 70 August so 1916 $3.50 ssI So
Week ending sept Q, 1856 1l,o52 80
Total s2o1, s3l 70
Total TO Sept. 1, 1885 ............sls2,3is IS
Week ending sept s, is5b..... 1924 -
- lsp,64l OIL
Increase, sli,7s3 20
IL now confidently believed that the estimates made
at the beginning Of the season. that the receipts would
reach 100000 viii be than realized There are
ye, twelve thirteen weeks 70 the coee oi navigation
which at 600 per week, added TO the amount already
realized, will exceed the estimated Besides thcro
always several thousands Of dollars q coming
In a, tho close Of the year. which may swell amount
70 600 or siocoo Of the estimate THIS, IL
thought advisable to divide, would give 70 the common