The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-03-21
FINANCIAL AND COMMERC GAL.


HONEY MARKET.
FRIDAY, March 3o-6P.M
The stock market opened and closed heavy 70 day.
About the usual activity prevailed but Tho buoysnoy
noticed throughout yesterday not u all visible this
morning. Dash stock OF oil the esdiusT companies
appears 70 be and abundant every day. The
street loaded down wNsuppNes and but for the large
short interest prices could not by any possibility be
sustained At the nrs, board to-day Pennsyvanis Goal
Company declined q per cent Delaware and Hudson, "a
New York Central Railroad, n; Erie, n; Reading, y;
Michigan Southern, q; Illinois Central Railroad, b
Cleveland and Toledo. u Cleveland and Pittsburg ad-
vanced y per cent; Hiw suhie and Miasissippi, III La
Crosse and Milwaukee u. The moss important
movement TO day Was In Illinois Central Railroad
stock. Il opened as 1917, ieiler 90 days, and
closed at 1875 per cent, buyer days, and
sold down TO l8lx, seller 90 days. The saIes
were unusually large, and contracts time put
freely We do NOT approve OF this movement tho part
Of the COMPANY but believe that under she croums
there WAS no alternative The extent Of the increase 10
capital is probably the bert policy. doubtless
made 70 future trouble IN issuing smaller lots Of
stock. The real object Of the company has yet ap
peased but 70 our nd 10 perfectly clear, and only
. financial measure commend It. II 10 very evldeat
ths, the mArke, vsiue Of the stock will be largely
deprecated The bosds Of the Illinois q nual Rail
hsue Of new stock New York Central Railroad sold
to some extent 10 day and closed weak ss our quo
sations Reading active and stock WAS freely Of
feTed at the decline At the second board hwer prices
ruled all round. Reading Railroad fell on per cent;
Michigan Southern, d; Illinois Central Railroad: y,
Cleveland and Toledo N New York Central, a; Erie,
" will be seen by second board quotations that
the market closed heavy Ard that prices were gradually
settling down again. These mall Yesctons only serve
TO involve speculaors for . deeply and TO
round them with greater difficulties In face OF the
financial exhibit Just made By the Erie Railroad Compa
ny, and what Is known 10 exist 10 the finances Of
ali large railroad companies, folly 10 talk abou,
advance in prices They are al nov ten twenty and
thirty per above their intrinsic value and only
sustained M present points by lhe' most desperate
and disastrous ,ysiem OF nnancieriDg con.
cooled or psct,ced Ia any community. 1t
10 beyond the lover Of III Wall ,ireei com.
combined 70 permanently initiate prices for the GLASS Of
railroad stock operated largely In Book
Exchange. An advance OF one, two, and perhaps In
some instances three per cent might, under some
element and favorable circumstances, be temporarily
produced but beyond that spears 10 % utterly I'm
possible and doubt very much the possibility Of 40
imitation evtn 70 that extent Every day increasing
the burden Of these railroad anes and those Who
sustaining them must be getting weaker and weaker
and less able 70 shoulder The responsibility and provide
the necessary keep the wheels Of the mschine
In motion Every dividend paid adding much to he
floating debt, and ~ 10 merely matter Of time,
sooner stop put 70 the increase Of BAbiiue, un Ter
such The better for oil parties Interested
The Assistant treasurer Reports 70 day - follow -
Iosl receipts u48,1b ~
losA pAymenu. lol,Wo OF
total balance. ,sss 81
The stock operations Of wesey, the principal proprs
tor Of the DAILY Tme in Wall srset day were ~ fol
lowa-
Bought
81 COO Mich South Y. bonds. 7e-cash
100 Reading RAiroad........ 7sh-selIer 10 days.
5000 Virginia, es:........... eiI-cash.
200 hnsos Central railroad lsaS-ssi,sr 90 d.y,. .
200 Celeveiana and Toledo. 7SX-rcguias way.
We are Glad 10 that neehbors realizing On
Of their STOOLS, Notwithstanding e great dnsrsse
sgsnst them. They are preaching one thing and praou
sing another with all their efforts 20 show hat nnAn
ciN revulsIon mpossibsty, they evi ienty pre-
TaiIrr themselves for collapse railroad STOCKS from
some cause. This Ia vise - II 10 not ye, 700 isse
The steamship Alps ~ Bcsssn from Liverpool bYnys
four days lt,er Tho sdvccs not important
even INTERESTING In money matters thes had been no
change. Consols we're about the same Tor money
csiton steady without much activity Inc market
Brssds,urs were dull and heavy.
Ire annexed stsiensnt s,hibis ibe valoe Of foresa
dry goods entered u this per, TOT coIsunps for
house and .so he Withdrawals from wsehouse aasns
the we,k enG.rg AID including raarsdsy, March L.
ls1-