The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-07-09
FINANCIAL AND COMMERClA
n On LEY n A IL X ~ y.
Wnsk.pAY, July "a I,

WDSxspAY, July S--8 T. NJ
The sock mafke, no, buoysni Mis- morning, and
the Increment not Uniform In the different stocks AT
the frss board today Delaware and Hudson declined =
per cent; pennsylvania Company, Michigan Central,
Chicago and Rock Island :: Michigan Southern preferred
III. Erie advanced 4 per cent; Reading. IL; Illinois
Central .; Michigan Southern 1: Cleveland Columbus and
Cincinnati, / Ia Crosse aud Milwaukee, q MI rauke asd
Mssssppl,2l. CNh stock very plenty the street,
and buyer getting rapidly Hlcd up nj high prices
The lneet PARTY IN Michigan southern sirslnng every
to sustain their sotk at present prices; but ap
pears 10 they conicnd 1g against foarfo odds The
stock is rapidly coming INTO The street and mus, continue
TO do We do not think much Of the judgment OF any
holder Who would no. avail himself Of presen, prices
realize he reccn, nnanai exposition Of the company
shows Irciy plainly that there chance Cor a dividend
the old Stock and only moderate probability o. the
frsgmen, Of dividend the preferred ten per cent
guaranteed. We see N hope that the
AFFAIRS OF the Germany and The market value "
the stock will no, take once the course or
the frc, and leave those who ctr,nue ~ hold with
vastly deprecated and worthless property 10 regret
their esure that they dd make the Of bad bar
gain when opportunity presented We regret 10 learn
nat tho necessities OF the Erie Railroad Company have
compelled them TO execute ohAiie mortgage Tor 81 5oo
O10 10 favor OF the treasurer the company 10 secure his
enlorscmcuI Of their acoeptances This mortgage war
recorded to-day, and ali Their roll az STOCK aah
merry cars locomotives and oil movable properly every
and nature We hear TIA, another MORTGAGE
contemplated for large amount, which be raised
mces the requirements Of the company. All value thus
ccctusry wiped oui Of the stock and any chance ola
dividend gone Forever. rrc n now In M bet.
ter position than Harlem and the stock
must shortly rule Of the price. Nothing could illus
ua,e fully the entirely deceptive nature of railroad
reports showing nominal profits and large gro-s
irgs Two years ago this company relieved rom
bankruptcy by az Of - 600 900, wh,h then rendered
Is completely easy 10 its anarces. Now the Of
sscOoOoo is sssry 70 mect pressing obligations Of
floating debt contracted that period AMI restore
the condition Of The road. New YORK Central s one Of
large lots sna fell % from the opening Cleveland and
Toledo has reached most extraordinary point OF mia
ton its last financial exhibit shows that every dividend
paid Involves the company neariy much in debt tits
found very difficult TO sustain any in even best
railroad stocks OF the West G&lcps and Chicago and
Chicago and Rock Island sdvsnce day and fsn back
nearly much the next The London circular OF f. =.
satiorhwaie Of June 49, received by the ARABIA Gays
American securities have been neglected. The half
years exhibit OF the New York and Ere caused
OF creating large preference stock high rate OF int
rest, whilst sufficient statement Ia presented by the
Beard 81 the actual working Of the road has aided 10 the
want OF confidence amongst English lnveste-s.
In Germany and other continental markets, where a
good many paying secur ties have been negotiated,
The feeling towards American securities e very uufsvors
bic.
Parties accustomed 10 ruanel,l transactions N london
rrs and ether commercial centres, know well ha, the
dcings OF operators eiber To- re " fs have very IL
Ne gsrrs-sn, elect % ang security. s'd ock W HeY'ni