The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-05-18
AND COMNaEF
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The week jus. closed has been rather un.asporsat
than the usual activity operators, prices have been
on the Whole without mactr fuctastion aud tAve
great ehanges ~ report ia Mo market generally. In I'LL
no Central and Michigan Southern the cement has been
upward In each OF these stocks there Is privilege In
the prospective The Illinois Central stock carries ono
sarc OF the now Issue every two or the old The
xisaisSa Southern Old stock carries . privilege OF SUB
sbing 10 ten per cent guarantee sock tho ratio OF
Forty new 70 every hundred of old These privileges yc
advanced 10 each the market ssuo Of the old Stock
and oar cosias quotations last night considerably
higher than during tho week previous. Illinois Central
touched lao por cent, and Michigan Southern 10
per cent The market will undoubtedly feel
much relieved when these extraordinary causes
moved The Michigan Southern move nenl eliminates on
the 20th Ds and the Illinois Central the LIST OF June
An effort hss beea made to ge< UP little imitation Ia Cleve
land and Toledo, but works hard. u difficult 10 make
any progress in such uphill job and 10 looks very much
rs though IL would be abandoned la despair The
stock selling much above iu real value aud
do not see how any sane expect W get up, or
sustain where Ia. Eric Railroad has, dur
Ing the past week been gradually settling down. Therc
was abcar sale yesterday at 3Sk per cent, seller ak
months. II would have been considered the rawlings OF
nao to have predicted six months ago that this me
- per Cen. san stranger things than This win be reszed
within the next twelve months New York Central APP
pears to be gradually but steadily settling dawn strin
gent money market would affect that stock seriously
sny tho list All the high priced railroad stocks cannot
be much longer DO maintained. They are now at their
maximum, and every year must deveops mere and
the elements OF derrec iaton ana decay.
The money marke. continues without material change
For day two there Indications OF ncressIus
demand, but hey parsed away and since tho supply has
been abundant Tho banks show line OF discounts fully
up To the most expanded point, and tho probability Ia thai
they will maintain, for Time at least, the present
ment. The usual contraction at this season has not
been realized and the active expectation orspeos has
yet had tho usual effect the bank managers Tho
fsaucia advioes from Europe NJ eli calculated TO
encourage expansicn, justify the presen,
Nnt aEd contraction IN PIT Oft to iaicS day may be
forced upon wish rapidly that would be particularly
unpleasant We look for continuance OF he present pla
thora In the money market TO lss perhaps thirty days
,ongcs Our specie shipments for the Eve months
will average AMI abat million per weok and strikes
us that win such train supply VIII beg'a to
dminsh. Tia, thcrs l. troable ahead Ia financial and
commercial matters Mt all posted can for momen,
doubt We do no, look Tor any great euy for time,
but the monla Of October 1851, passes over without
prety general revu-ion calculations all wrong
The prcsca, and abundance In u.ouey matters ia tho
calm tina, preceJes tho approaching storm.
Albert H. Eicoay's regular sem. weekly auction s~ie
OF stocks bonds viii take place Mooday next, the
18th Instant al hsltpast IL o'ooos, a, HE Merchants
Exchange.
The outward movement OF -p<co from this port las
week quite active as win b by The arnexcd
sAtements-