The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-03-05
FINANCIAL AND COMMERCIAL.
MONEY MARK ET.

TUESDAY, March 4-6 +. NJ.
TIE tendency of prices at the first board was up.
ward. There was an active business in some of the
lading railroad securities at better prices, while
others show slight decline. Virginia 6's advanced
per cent? Illinois Central bonds, :; New York
Central SIS, i; Nicaragua Transit, s; Chicago and
Rock Island, /; Reading Railroad, !. New York
Central Railroad fell off per cent; Erie, l. Cleve-
land and Toledo, g. Michigan Southern, /. Nicara-
qua Transit is movingup as We predicted. As the
market advances the seller four months time does
not continue his sales. If Nicaragua was good
sale at 20 per cent, seller four months it must be
good one at % per cent the same time 1t is the
impression inside Of the clique that by the time four
months contracts expire Nicaragua Transit stock
will be somewhere up among the thirties. The sea-
son is opening for emigration, and the tide of travel
to and from California is likely run full and strong
during the spring. Travel to and from Nicaragua will
be animportant source of revenue to this company
and the through travel to and from San Fran
cisco will be considerably larger than usual
by this route, on account Of the desire
to see the country that is now attracting 80
much attention among the political and commercial
world. All this will add largely to the revenue Of
the Transit Company and increase its property very
materially. The consolidation of the Walker 60
vernment in Nicaragua must improve the Transit
Companys real estate and other possessions in that
country and add immensely to its facilities for de-
veloping its line Of internal communication. The
frmness and steadiness with which Erie is sustained
is most extraordinary. The daily transactions are
large amounting in some instances to several thou.
eand shares. Most of the operations appear to be
on time, buyers and sellers option, and made prin
c'pally on speculation for rise or fall notwth.
standing which we find very little variation in
prices, and no indications of Importance pointing
either to an advance or decline. AS the season
advances and speculation becomes Isore active
there may be an upward movement In view Of the
great improvement in the company's financial DO 4.
ton, its good management, &C., present prices can
well be considered the minimum Of its actual value
Reading Railroad stock should stand in Wall street
above par to-day. Its dividends and its prospects
ente 1t to that position and 1t must ere long reach
that point. Without an increase of one dollar
in its gross and net receipts, the stock is SIRE
twelve per cent investment, after providing
for every conceivable contingency. Such stock
should command premium in the market. II is
appreciated by British capitalists, who are gra-
dualy absorbing the entire capital. All the cash
dividend of January last, paid to foreign holders,
was re-invested in the stock and we have no doubt
snch will be the future policy of the same parties.
Galena and Chicago has not varied much from ll3
per cent for several weeks. A few shares are sold
daily within fraction Of that price, but it would be
impossible to get any 4Atity without putting up
the market several per cent? Illinois Central bonds
were in active demand to-day at handsome ad.
vance, They opeped at So and closed firm at sSi per
cent, cash. The land sales of this company will.
without doubt, show q result this year more extra
ordinary than the most sanguine ever conceived.
The returns for February will soon be at hand.
At the second board the market was slightly de-
pressed and with one or two exceptions, lower
prices were realized. Cumberland Coal fell off per
cent; Reading Railroad, /; Michigan Central, 1;
Cleveland and Toledo, !. Milwaukee and Mississippi
Railroad advanced | per cent After the board
there was an active demand for Nicaragua Transit
and Gales were made at advance OF nearly one per
cent on prices current at the second board. At the
close 23s 232 per cent bid. The shorts in this
stock will get twisted much sooner than we antic
psted. The party who has lately been selling on
our monthsi has been wise enough to buy in largely
at prices that will leave him minus several thousand
dollars The harvest Of the Transit Company is about
coz mencing The steamer from this port
on Saturday, the 9Th instant, will 20 out
with full complement Of passengers. When Com
modoe Vanderbilt resigned the Presidency of this
company, some time since, the stock was selling at
81 a 80 per cent. During his retirement the stock
run down to 13t IA per cent, and the company got
into very bad credit. AS soon rs it became known