The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-11-19
FINANCIAL AND COMMERCIAL.


TUESDAY, Nov. 18-6P. NJ.
The stock market continues 70 settle down gradually,
and the probability 10 that before comes 70 stand sti
prices win rule several per cent below prescn. poxts
At the first board to day, Virginia 6s fell OF per cent
New York Central Railroad, "a; Eric, ii Illinois CsnHsi
-; Reading, ~ Michigan Central. 4; Michigan Southern,
=. Cleveland and Toledo, "a Ia Crosse and Milwaukee
"a; Cumberland, u. Delaware and Hudson advanced
v; fenosy kaniA Coal, u Harlem, "a. There "a no de-
mand Tor cash STOCK The bears perfectly easy and
the bulls cannot do nything ex,ept credit. Every
thing credit with that class Of operators and thcy are
therefore, Of Just In supporting prices The
amount Of stock the market unusually large and II
such sSles cannot be effected 1t price they must be
~ another. We look Tor weeks Of inactivity among stock
opereors. There rs no particular movement going on.
Therearc striking indications OF either an imitation or
contraction but the natural ecc Of naoton 10 depcss
prices. II tho absence Of buyers the market viii not
stand still.
Al The second board the downward tendency prices
was decided. New York Central Railroad fell OF
y per centi Erie, y; Readng. - Illinois Central EsI-
road stock has boon very ooady for weeks past
II did not participate in the panic the temporary
imitation. II has not varied than about two per
cent for long time. bankers continually receiving
orders RON Europe for tho purchase Of this stock and
every European steamer takes out or less q the
dxeseat classes Of securities The land grant railroads Of
Illinois Central first appreciated abroad. We have
several companies, based upon lard sran,, ssou,
coming out In wisconsin Iowa. Missouri and Texas, AZ
loss endowed with grants Of land Of the most
ysusble character In Iowa four roads about being
commenesd In Wisconsin three, In Missouri one, AMI Ia
Texas In the rs, three States each company har
grant from Congress OF Tour thousand Of land pc
mile, wilhelm Texas the land grant 10 from The State anf
Is we believe. equal 70 twelve thousand per milo.
Independent OF his the Legislature Ct Texas has loaned
the company sin Thousand dollars per mile cash, upon
hs 1rsi bonds. There y STATE IN TIE Union better
able 70 do Mis- than TEXAS. We Argue ths The Gully
,ousa and safe pr,ncIpic 10 build railroads s upos
land basis. n this principle be carried in
o,hes way would be advisable TOR company building
. ROAD through public Anis TO buy ~ every acre
along tho limo ., government price before constructing
mile OF road l,would Their be improving ~ pro.
perry end have something t~dcs the railroad for the
money expended. Every railroad Quit rpon tho bass
OF iaod grant cust becowS most productive poo
perry Tho Dnos Central has progressed furiaer than
any other and the scsuh Ne easily anticipated and
yet this V the least or ali Ir wisconsn, Iowa, Ms
souri, and TEXAS the resuu ksy % be noch rrester.
The Public domain Of rexas 10 oseasc and can ony
be opened BY the exession rsaroads bcnce tho I'M
mcnsc grant o. land TO the Pacific Company aud the
liberal loan n money 10 make tha LAM avsaakss Ia
Wisconsin there lno seld Tor the constructors & rail-
roads under aud giants. Iowa has alec great fsoscs.
40 has Missouri but in ~ thea states have The
Legislatures followed ~ tue and gant by loan q 20
much money per mile AZ In Texas In fcn Year, TsrAs
will be intcrSec'ed sith railroads 40 much tie
state Of New York R now. beginning has
already been made aud the progress will be
most rapid. Population follows upon the heels Of
surveyors engaged In locating line or railroad and the
immediate vicinity Ais up in very short space Of
tine
The steamship City Of Washington al Philadelphia from
Liverpool brings four days later The financial
and commercial advces unimporiant. Quotations for
consols show slight ADVANCE. but ,hs m,aey market
not 80 buoyant and at the close the tcndescy OF
prices Tor the funds downward. Cotton was duh
and prices low. nreadsiuns heavy, with dccRoe
in rriccs. The s the whole lt. favorable than
anticipated
The steamship Osrsds, from Boston for Liverpool TO
morrow wednesday,, will take ont aboui hsJ million
Of dollars IN specie