The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-06-25
FINANCIAL AND CONNER GAL
HON EY n A X X E .,

aOnEY n Ar KEs,
WEDNESDAY, June 24-6P.M
The stock market appears to be beyond all hope Prices
seem TO be settling down. and there appears to be
bottom deep enough for them TO rest upon for any length
OF me There plenty of sellers at current rates. and
plenty Of stock on the market The supply from the
country ID daily increasing Holders who purchased q
prices far above those ruling, for permanent invest
mont, The principal sellers Of cast stock, and
those have come contact with appear to feel much
relieved they have realized, afer making
. heavy loss Those who took advice long ago have
been great gamers They have not only been free
from all the anxieties and uncertainties attendant
upon the position Of holders Of deprecating railroad
stocks but they have avoided the Losses which moot bold
ers have been obliged to submit TO- There may be 70
price at which would not only be safe to hold some OF
these railroad Stocks but good operation to purchase
That point has not yet been touched aud In some stocks
we fear 1t never will be. At present those who have
means should keep them in the most available place.
Those who able TO turn their securities into cash with
out serious sacrifices should hesitate long about doing
SO, for the time is not far distant when money will be
worth than anything else. AEew weeks hence those
Who have ready cash In hand will be able 10 make
good use of 1t, and purchase, they desire,
stock securities at points that will ensure
good profits The money market percephbly tightening
the first Board to day Pennsy Company declined
u per cent; New York Central IL; Erie, Il Reading TX;
Michigan Southern, y; do preferred, /; Gaena and Chi
csgo, X; Chicago and Rock Island 1. Illinois bonds ad
vancei per cent; Cleveland and Toledo y; La Crosse
ami Milwaukee, a. There very extensive operations
In Erie and Reading this morning the Decline and the
bulk Of the transactions In each for cash. In Michi
gan Southern there was &C i've movement. In this
stock there was slight improvement the opening
price, New York Central yer, heavy throughout the
ho.~ ~
the opening started at 80 cash. and closed at 80 buyer
sixty days Michigan Central sold today at sly OK divi
dend. This is equal to SsK, dividend on, and shows
decline Of about per cent from the previous SALE Any
thing above eighty per cent high for the best stocks
on the list.
AT the second board the market was without much
change. fair amount of business was transacted
Michigan Southern preferred fell of per cent closing
Tx cash. Cleveland and Toledo fell of 4 per cent
Milwaukee and Mississippi sold at 81 seller 80 days. and
the stock freely taken after at that price. The August
dividend is still talked Of by the largest holders of the
stock. An affidavit has just been made by OF "them
cousprng directors" which, when made public, will
open to the public chapter In railroad
management and fnanciering equal in astound-
ing disclosures to any yet published. As an in
vestment ii is q dangerous stock to hold at
any price, Some OF the funded debt this concern beas
per cent interest," and the aggregate interest the
bonded debt cannot be paid out Of the net earnings OF the
road The stock Is not In reality worth much the
Erie, and those who realize at current rates will
time hence be much obliged to for opening their eyes
There Q meeting OF the directors OF the Michigan
Southern Railroad Company at the Aston House this
ing We have not heard the result Of their deliberations
but presume the anticipated changes made in the
executive department Of the board. new chapter
is about being opened in the history of this
W tusA ~ sns~.~
ing part Of the programme All that we have
beginning. We SHALL in the event Of the contemplated
changes being made get into the the very Of
the concern, and show the public what fine pckngs
tain parties have enjoyed uncisturbed for years The
and the ms will doubtless criminate and recrimnae,
and the public will be very likely 10 gain by it in
way.
The steamship Canada, from this port for Liverpool
day, carried out 81 lss in specie About much
more will 60 out by the steamer on Saturday.
A. a. Nicolsy's regular semi weekly auct On sale OF
stocks bonds will place to (rhursdsy),
1t half past eve o'clock at the Merchants Exchange.
The Assistant Treasurer reports today as folews-
Total receipts. $4,000 Oh
pymenu..... .......'............' - les,iN 20
bahnce.. ........................... u,Iossoo %
The interest coupons on the bonds OF tho Chicago st.
Paul and Fond du Lac Railroad Company due LIST July will
be then paid the Office OF the Company, No IL Wall
street. and also the interest due the bonds Of the cities
Of wa,ertown and Fond du Lac, Wisconsin.
We learn from the Hartford Times that forgeres to the
amount of about SIS have been discovered In that city
on paper drawn by various persons pedlers generally
and endorsed by DAN w. King his father Dan. King, and
Daniel W Norton all of suffeld Some Of the paper
in bank for collection Of IT had been discounted, and
some had been bought by brokers.
The New Orleans Pscay'rne says
We understand that the wealthy contractors Of Georgia.
Mcssrs Grant Co have taken contrac, for seventy
mil Of the Southern Pacific railroad This road Is being
quietly pushed wet yard TO the Pacific and with
the land grant OF $40 OF land for each
and every mile Of road constructed must eventually be
greatest and moot successful enterprise the world
The following Is comparative statement Of the earnings
OF the Grea, Western Canada) Railway for the week end
ing June ~, and the corresponding week last year
Passengers. Al