The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-03-26
FINANCIAL AND COMMERCIAL.

FINANCIAL AND CONNER GAL.
MONEY MAR EFT.
"WEDNESDAY, March 26-6P.M
Quotations for stocks show pretty general decline TO-
day. At the nrst board Missouri e's fell of per cent,
New York Central Railroad, y; Erie, u; Reading, 4;
Michigan Southern, y; Milwaukee and Mississippi, u;
Michigan Central y; c eveland and Toledo l. Lx Crosse
and Milwaukee evanced per cent with sales OF only
about SIX hundred shares New York Contra Railroad
sold freely this morning for After the board it was
offered as Ssx per cent. Erie very heavy at the
opening, but improved before the close Near.
~ all the Western railroad stocks depressed
this morning There 10 feeling Of despondenoy among
holders Of railroad securities generally and the DISPOSE
op 10 realize daily extending Every lot OF railroad
stock brought into the market and sold account Of
oatsiders present prices Will remain In thu hands Of
brokers Until the Hssi collapse The brokers viii kick
lhsse stocks abou, the sreet long there any life
10 them, and then they vii settle alongside aud
SON River Harlem, Long Island, Norwicn Worcester
and dozen others Of that class, where they
will be left, while the public take up with
other ana more substantial projects Nearly
all Of these Old railroad companies have had their
day Some OF them have for many years been gradually
but steadily falling, while others have rapidly down
from the start The losses, far, In the decrease In
market value have been pretty well distributed and for
the future IL viii, without doabt, be widely scattered.
Nearly every who hn bought railroad stocks within
the pas three years has lost money, and those
tinue 10 hold must suffer ssii seriously New York
Central Railroad stock, with all It's earnings and good
management 10 selling ct prices nearly forty psr
cent beow those current .; tho opening aer consoda
ton. II has been within the past elk months ~ low
eighty per cent and w beyond all question 90 there
again. Il 10 . mere matter Of time with al Of rail-
roads, with even TIE best They are al destined ulu.
mstely 10 realize lie same results, under the present
system of and mode Of ooastuciion. spscu
Ation the stoct Exchange may keep up for tins
ARTIFICIAL value for even the worst, and shrewd nnsu-
cierng may dissrse for . time all evidences OF inso-
vsrcy, but In the end the real state Of ,hngs sp-
pear in spite Of all efforts to the oosirary. We have
arrived As that period In The history Of railroads
lore anticipated and the public mind hss ormly
convinced OF the utter insecurity OF such investments
At the second board tram actions we're upon 0 very
limited scale, eth st-ope downward t,ndsncy. New
York CeItral Railroad fell OF per cent Illinois Central
Railroad, u; Gslena ana Chicago, n; Ia Csosse and
xllwaukie, n. The market vas very heavy this
afternoon. An explanation for this daoess and depres-
sion found the fact that the oatsde public have
almos, entirely abandoned the Stock Exchange. Tns
brokers have the msvks, 10 ,hemselvei ami most
Of them are sellers. There several strong houses
and therefore are compelled 70 purchase from day 10
dsy 10 keep prices - steady a. posnble BIT for tue
forts Of that cnqoe the market vouid sooa resoh IL
proper level Some Of bull contemporaries endeavor
"a show that the narkss Ia depressed entirely BY tbs
efforts Of toe bears, and that prices t2pch
pon little lower . revival viii be seals 3D. Tney ara
~ much MISTAKEN In this IN most other iaInss ,sey
attempt 70 explain relsrve 10 the nsct mar.
ket II 10 the absence Of ou,sids buyers .n.'
10 weighing 10 heavily upon prtess The outside
sellers have the aock In hand for delivery, and
the aggregate OF such salaa for weeks past very
large. The only stock operated In the board 70 day
In which there vaa advance In price Ia Crosse
and Mwsukc. ne OF this stock ADVANCING while
others declining 10 the fec, Of i possessing
Of ths most valuable Congressional land grants 10 the
whole Western country. The suoccss Of the lnoh Cen
trail Company has aed public confidence In This mode Of
constructing railroads very high point 9slena aud
Chicago sold lower price 81 the second board so day
than We have known for yesrs This road fair nlus
uaou the dangers and deess Of he present railroad
System. The capital Of this company has up rapid
~ under frequent large STOCK nsues that future dv
dsnds must be much reduced. 10 Jet Of The bess
psyhs western roads, but the markes value OF stock
vili hereafter rule nearer The nsishborhood Of par.
We have received ths last annual report Of Illinois
Central Railroad Company, and regre that space will
net permit our giving liberal extracts The gross earn
inss In 1855 si,4Teess 81, asann 81 ssaiis for
lsss-an Of 90 per cent The operating expenses
In 1859 were % per osn Of the gross rpepss Toe isod
operations Of this company, which present the
important feature, during the pest year oo~s
IilNms CpTaAl RAIlRoAD-sAips oy LApD
Aces SOFA ~ 1859 fbedi SAILS
2sp cas- II Constructor lands ..... ss47a eo7
3o1ls 81 . inherent fund. ............. yss sls
1851 Al Fre.............. ........ 1,Naoio
Total sse s47 % sores cold for ........ss o7b AZ,
Add to~n lcss sold for..,............. 80, 100
Total OF oil sales TOR 1850 liza go
Add aggregate saes - per report Of Dscem.
Der "a. 1900. b9sb71
which makes The seesssse ofs ses to date sivi AS
The total sad rsuops Of the mp my up 70 DISC 81,
1850, we're 90 follevs-
Original Grant Sod On Hsnf
Oonstruc lands acres COO 900 see 1876 90 ls4os 81
In,sres, fund 49,. 2b0,to0 1858, 800 oil po oee 90
Free "... Sab,ooo lb2 1N OIL 192,2u 20
ro,, acres 4, 5sbooo SGT, 2Il OIL LIE Tss %
Add solo lanos .....s.s.....,..... $50 III Oh
Inc land oommssoner Of the Company estimates the
remaining lands ., The value Of s2s sse1te which with
the sio,7l as already sold, mssce aggregate Of
sss oee sTl. Inc data upon which he arrives al tse