The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-31
FINANCIAL AND CONNER CIAL.
ON e Y. M A n X T. II.

FINANCIAL AND COMMERCIAL.
-~
MON e II MAR EFT.
FRIDAY, Oct. 500 p. N.
The stock market to-day was an improving one
from the opening. With more activity in all the
leading railroad stocks better prices ruled. At the
first board Ohio 6s, 1860, advanced per cent; Mis-
souri, G's, Ia; Erie bonds, 1871, %; do, 1862, 1:
New York Central Railroad l; Erie, q Reading, Ii.
Pennsylvania Coal fell Off l per cent; Cleveland
and Toledo, Z; Michigan Southern preferred, 2;
Galena and Chicago, l. Illinois Central Railroad
opened at 50 and closed at SO per cent, with mode
rate sales. All the most prominent Western rail-
road stocks appeared to be in demand, and were
freely offered. Almost the entire movement in tho
market is confined to the brokers' Outsiders may
be picking up some small odd lots for invest
ment; but there is strong bull movement, which is
resisted by few determined spirits who are not
Satisfied that we are yet out Of tie woods in
our financial troubles. The leading bulls come
from the old bear party, but there are few
Of the old grizzys left, who have abiding faith in
the dishonesty of managers Of incorporated compa.
MES generally, and of railroad companies in partcu
lar. The earnings of railroad companies for the
month of October this year, will be far behind those
for the same month last. We understand that the
New York Central receipts will show decrease of
more than one hundred thousand dollars. The Har.
lem receipts for the month will be about ninety thou
sand dollars nearly onehalf of which will, we are
informed, be net income. This road is now well
MANAGED. The mileage has been largely reduced,
and greet saving in this way effected. On the
same amount Of receipts the net earnings are now
much larger than heretofore. The whsle secret of
this can be found in the fact that there is now q
practical man at the head of the management, and
he seems to know how and where to save money
without nuring the efficiency of the road. We want
active, scientific and practical presidepta IF
our railroad companies, and not fancy dnanOiers:
Let finance committee Of the directors attend
to that, and let the president attend to the
actual operating affairs of the line of route.
At the second board the market was rather weak,
and for some railroad stocks }losed heavy. New
York Central Railroad declined per cent; Reading
IL. Erie Railroad advanced per cent; Cleveland
and Toledo, ]. The movement in Erie this after
noon was to some extent, and the sales were princi
pally for cash. The most irregular and uncertain
stock the market just now is Reading. Itruns up
and down two and three per cent without the slight
est difficulty. The only State stock sold this after
prompt and decided course pursued by the Governor
and Legislature Of Missouri in providing for the pay
ment Of the January interest the public debt, in
dependent OF the different railroad companies, and
for the prompt pay ment of interest when DUE for all
iue, has bad a favorable effect upon the market,
and will soon place Missouri State 6s as high upon
the list as IL ever was.
A. II. Nicoay will hold special sale OF stocks
IL
o'clock, at the Merchants Exchange.
S. Draper will hold q special sale of bonds and
stocks tomorrow (satufdsy) at half past o'clock,
at the Merchants Exchange
A. III. Muller will hold his regular auction sale Of
stocks and bonds tomorrow, at half past II o'clock,
at the Merchants Exchange.
The Stcnipgton Railroad has declared dividend
of two and BALI per cent, payable on the 5th Of
November, at its Office in this city, No. 81 William
street.
The Baltimore and Ohio Railroad has declared
semi-apnual dividend Of four and half per cent on
the stock of the Washington Branch; the Nashua
and Lowell Railroad semiannual dividend Of four
per cent payable on Monday next.
The officers Of the Come ,ticnt banks are TO hold
a convention at Hartford, next Monday, 10 take
into consideration the proposed cutting loose from
the Suffolk Bank and to see what they can do TO
belp their customers
The interest on the State debt Of Pennsylvania,
due February |, 1885, will, We understand, be paid
10 specie. In the bank suspension law recently
passed by the Pennsylvania Legislature, II Is stipu
lated that the deposits by the State Treasurer or TO
the credit OF the commonwealth, in the several
banks and other corporations, aad all bank notes
which are now or may hereafter be In the treasury,
durpg the period OF suspension, shall from time TO
time, on demand Of the said treasurer, be paid BY
the said banks other corporations, respectively,
in SPECIE In such amounts as may be required By
the treasurer to enable him 10 pay the interest a.:
cruipg on the public loans OF the commonwealth.
The interest due Nov. 1 on the bonds Of the Mis-
sisspp Central Railroad Company win be paid on
presentation after thatldate at the Office OF Andrew
II. Green, No ~ Wall street
The interest on the bonds Of the Evansville and
Charlottesville Railroad, due LIST Of November, will
be paid by the Farmers Trust Company.
The interest on the third mortgage and convert.
BILE bonds Of the Hudson River Railroad Company,
due Nov /, will be paid at the ofics OF the Compa
ny, 6s Warren street, on Monday noxt.
Mesxs winslow, Lanier 4 Co. viii pay, on and
after Monday next, the I'd Of November, the half
yearly coupons on the following named securities
City Of Cleveland per cent bonds, issued to the
Pairesville and Ashtsbuls Railroad; Indiana Cen.
val Railroad per cent bonds
For the week ending Saturday last the Georges
Creek Coal and Iron Company shipped from their
mines 2,223 tons coal, making for the year TO that
time, 6s,7O6 tons; the Hampshire Coal and Iron
Company shipped for the same time 3i7 tons, and
for the year i7,3l9 tons; and the Franklin mines
shipped for the week 1877 TONS
The annexed statement exhibits the value Of TO-
reign dry goods imported into this port during the
week and since Jan. |, in each Of the past three
years.
MOVEMENTS N FosneS DsY 0ooDs
Fbr hs tnsk 1855 1885. 1901.
Entered q The pcrs.. 81 ses,aeo ssiseTa $50 CO.,
fhrevn On masket.. l33o,lss s72,1o zvl,zE
Stncf Jan. l. 1856. 1885. 1851
Entered slthe port s4 ss6 sIs ss76esso2 sste2eae3
Throvn on market. ei,27,ols st.oso.ITs 7s,ise,lSo
The dry goods trade the present week has exh-