The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-06-20
AND COMMERCIAL.
u U N EY N AR X L r,

FRIDAY, June 1916 y. w.
The stock make, opened very much depressed this
morning With increased activity among operators lower
prices ruled and there general disposition to SELL
Reading was particularly active and sold to the extent OF
abou, thousand five hundred shares opening 72
and selling down to II ~ seller twenty days Eric
little better at the Opening this morning, but fen of,
and closed very weak a. 3o'( seller ten days The report
Of earnings for Nay by the Erie Company looks very bad
and every month seems to make the condition OF the
pany worse and worse. New York Central pretty well
sustained The daily transactions In the stock large
and the quantity the market, s steadily increasing max
ing ii more and more difficult for the brokers 10 carry
at present prices. Michigan Southern may for
time uclqaie between forty aud ny per cent, aud be
fa7oro amens spectators in the daily operations OF the
street. but until further changes made in the manage
ment the public have very Lre confidence in the adj
mlns.raon OF s affairs. There already aloa
regarding the resignation Of the A very
large stock representation opposed 10 his policy, being
calculated to destroy whn little life there le in tho
companys dnanecs Under the regime the old stock
has fallen fifteen per cent fact which shows that
thing than ordinary responsibility Is necessary In
dDanceripg for bankrupt railroad company Railroads
are much OF dead weight to be buoyed mp and srs
tanned entirely by the rcspectabty OF their bolrds Of
directors. The community have been seriously injured
by the faith they have placed the respectfully Of the
time out the public WILL without much doubt, look Hale
co-er at the material composing tho insgement Of ncor
porated companies and Of railroads in particular. Tue
new party tie Michigan Southern in to resuscaio
the concern They were elected solely for their respoca
bily. SUFFICIENT time has already elapsed to satisfy all
that the directors not equal TO the emergency
The downward courze which the stock has taken In the
market has disappointed those who thougn that from the
moment the party were established In power all dill
ctcs would disappear, aud further changes talked
Of Galens and Chicago offered large lots To-Day,
and gradually declined in price. Tue "ex,eusor and
branch" policy laely inaugursted "a this concern has
brought good deal Of stock tho marset. Before the
stockholders make such changes in the direction
may be required bring about proper napagement,
the company will be involved deeply add largely
TO ts capital aud unlcd debt. year two aga this
read in fair way Of being permanently productive
TO lie stockholders, but bad management since has
pleely changed s position and prospects Cleveland and
Toledo has been quite steady for days. II has
varied more thas fraction from IS per cent and has
nuc,uated from that point 10 SO per cent.
Al the second board the marie, quite steady wn.
out much activity Illinois Central advanced Z per cent
Cleveland and Toledo declined q, por cent Reading y;
Michigan Southern, "a; do scrip, H. There small
sale OF Ia Crosse and Milwaukee, 81 per cent Milwaukee
and Mississippi closed at 81. per cent Illinois Central
Railroad opened this afternoon at 13 seller sixty days,
and cosed al i32I seller sixty days being advance Of
one per the time sales AZ The close the tendency
OF price was downward with free offerings Of all the lead
Ing stocks
The Assistant Treasurer reports TO day a. follows
Total receipts. 02oS IL
Total balance 1els,7Ss 20
The payments 10 day include $4,000 on California
drans,
The following are the receipts Of the Morris Canal Com.