The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-04-22

FINANCIAL AND COMMERCIAL.
MON EY MARK K II

TUESDAY, April 2l-6P M
Tina tendency Of prices in the stock market was down
ward from the opening this morning. In all the leading
railroad stocks there about the usual activity. In Hi
noIs Central and Cleveland and Psburg, however, the
transactions unusually large Tho former opened at
l3l and closed per cent and the latter opened SIX
and closed at b0 per cent Now York Central Railroad
fell of "a per cent; Erie ~ Michigan Southern y; Gale
ma and Chicago, q. Reading Railroad advanced TX per
cent; Chicago and Rock Island, y In Crosse and
Milwaukee, a. The upward movement in Reading is
the result Of combination OF buyers. II
opened SIX and closed at s2H per cent cash bear
sale of 100 shares made at 79k, seller six months
In Erie the movement this morning about the
as before noticed Tho books OF the company
closed for the stock dividend. The addition the capita!
by this dividend will be nearly eleven hundred thousand
dollars Just before the closing of the books issue
of the old stocks made by the Erie Company the
extent Of shares in certificate the purpose Of
raising money on an exchange operation This stock will
draw its ten per cent dividend, and will in time find its
way into the market The company will be able to
pay up the loan and withdraw the stock Its floating
debt is now full two millions OF dollars, and it
must eady increase, the face of its loans stock
issues The Erie Company has within Its history funded
about half dozen floating debts and IL longer dis
pose OF such claims in that way This company really
much off at the present moment with its large float
ing debt than it three years when the stock
down to 2et 80 per cent Up to within the past six
eight months, stockholders the public have been
der the belief that cash dividend would be resumed by
April this year the latest That time has arrived, and
the company appears to be further from cash dividend
than Instead Of ten millions of capital 10 pay on it
has upwards OF eleven millions with constantly in
creasing floating debt
At tho second board the market quite active and
better prices ruled generally The upward movement in
Reading continued with undated vigor, and sales
made high 81 per cent cash Sellers came forward
with great confidence, and there full supply Of stock
New York Central advanced per cent; Erie 4, Ceve
land and Toledo n Rock Island, H. Illinois Central Rail
road declined per cent Cleveland and Ittsburg, r. Tho
bears appear to have turned their attention than
usual to Illinois Central Railroad stock The news from Eu
rope by the steamship Fulton appears be particularly plea
SAINT to holders OF fancy railroad stocks Upon The strength
othe Bank OF England advance Of attraction
realized some Of invaluable railroad stocks.
The favorable prospect for financial affairs generally must
have been very encouraging operators in such stocks
Erie, Cleveland and Toledo, Michigan Southern, and
days will change the looks Of things and open the eyes OF
spectators in fancy railroad stocks for rise With
money per cent in London cannot expect very
easy times here.
The steamship Niagsrs, from By,ton for Liverpool to-
morrow, wednesday, will take out about 100000 in
o. per cent premium.