The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-04-25
FINANCIAL AND CONNER GAL
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MON Il Y d II X HT.
FRIDAv, April 2-6P. NJ
The stock market IL still working downward Day after
day lower prices rule and the supply Of stock for sale
appears undminishcd At the first board to-day Virginia
SIS declined per cent Pennsylvania Coal. AZ Milwaukee
and Mississippi Railroad, x; New York Central AZ Erie,
2; Harlem, y; Hudson River Railroad, 4; Reading, 4;
Michigan Southern, III Michigan Central Railroad ad-
vanced 4 per cent; Cleveland and Pttsburg, n. Erie
Railroad opened A. and closed heavy per cent cash
The transactions large at the decline and stock
freely the close The s,eadiest stock the
Illinois Central Railroad la Crosse and Milwaukee
sold 10 the extent Of few shares at II per cent.
We learn that the business Of this road Is rapidly
INCREASING. The freightng business Is particularly
large The road Is said to be managed with skill
and energy, and with the most rigid economy in all its
operations. The movement in Reading for some days
past has been downward In the early part OF the week
there indications OF pretty active imitation, but II
had other basis than the combination Of few large
purchasers who thought that the buying up thou
sand shares of stock would change the current OF the
whole market. There time when ciques OF specula-
could certain railroad stocks and temporarily
initiate the market value; but great change has
Wall street. There thousands of shares aoat
where there hundreds, and corncrng combinations
longer control the market. The load is too
great for any clique OF spectators carry and we
saaY not see for long time any more such at
Temps The great increase in the stock of Reading
Erie, Michigan Southern aud many Western rail-
road companies has made il impossible for the bulls to
force artificial imitation in prices Hereafter these
rites will depend for market value upon their
trinsc merits, and much lower standard rule Al
this standard Is established, II will be better for
stockholders generally There may be then muc
speculation in times past, but there will be less viocn
and less sudden fluctuations, and fewer Of those panc
which have heretofore resulted in such serious sacrifices
The decline in prices has not yet reached the
point There Is yet, according to ideas OF value,
wide margin still left for further fall II may not be i'm
mediely realized II raay not como until after period
Of expansion 10 greater less extent but several of
prominent railroad companies have process OF liquidation
10 PASS through that will BIO satisfactory 10 the public
mind and place the the different
much better condition. To do this great pccunary sacri
fees must be submitted to- and the the manage
mcnt takes decided steps in tho matter the better for all
parties concerned.
At the second board the market slightly better.
Reading advanced 4 per cent; Erie Railroad, ~ Ceve.
land and Toledo IL Michigan Southern !. At the close
prices were not sustained and the market weak Ia
and Milwaukee Railroad closed firm II per cent,
seller 20 days.
The steamship America, at Halifax from Liverpool,
brings days later The financial advices
about the previously reported Commercially the
favorable. Quotations for cotton
actually lower but the market heavy and the
doncy was downward. Breats,aGs depressed aud
dull The Bank Of England had made further change
the of interest but money matters very sn
gent, and the drain Of bullion undminishcd.
| The Assistant Treasurer reports today as follows
Iotai receipts: siioIo ~
I1ai !aynenb. 5aosas =,
Total balance. HotD,zD %
The payments include $4,000 sent 10 Philadelphia
T1.o yal at the D.uar
Washington. the I'D inst, a. follows
For the Treasury Department All So
FOR the Interior Department ............. $50 ~
for Customs 80 "a
Repaymenis account Of the Navy ........ SO "A
War warrants received AMI entered. $3.50 ~
War rcIay warrants received and entered 1913 ~
Prom miscellaneous sources. luz"
The stockholders of the Daily inns operated at the
Brokers Board to-day as follows
Bought
10 Chicago an Rock Island Railroad. ~ cash.
$50 Milwaukee and Mississpp Ralroad.. II regular.
Sod
IS New York Central Railroad ......... ssI-b.3
800 Michigan southern Railroad ..... ooIs-rcguar.
100 Chicago and Rock Island Rar.ad... IS cash
The following sales Of stocks at auction were made at
] Washington city on Wednesday,
IS roo Corporation Washington Per can't
| so do. do. 5pcr cent stock. aA
L 100 do. Georgetown per cent Stock. ~
1850 Orange, Alex RR. bonds, lsunortgage NS
i 900 Hank OF Washington stock. 20
1000 Corporation Alexandria .................... SS
II stated tina, up TO the 18Th inst 5000 shares Of the
stock o the Southern Pacific Railroad have been taken, and
l $4,000 paid up by subscribers in New Orleans.
The following Is Statement, OF tho value Of tho imports
Of foreign merchandise through tho Custom House, New
Orleans for the quarter ending the i March, 1851 and
tho corresponding quarters or the years 1885, $780, 1884,
1858, 1852 and is5i-
Il Spacis ond
l 1867 Dsio,se Fsee. Bullion. 7ba.