The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-22

FINANCIAL AND CONNER GAL.
MONEY MA TX * e. n.

MONDAY, Dec. H-6 r. ~
There Is nothing new nj the Stock Exchange The
kci Is daily becoming less and less active, and cannot
look for any movement OF consequence either one way
the other until after the holidays. new year may
bring new state Of things. the present the
brokers and spectators have a very dull time. The
commission houses are doing Just about nothing At ali
A. the first board to-day Erie bonds 1871 declined per
cent: Illinois Central bonds 4. Delaware aud Hudson,
Pacific steamship Company, l. Hudson River Railroad, J.
Illinois Central Railroad, 1; Cleveland aud Toledo, i.
Gacna and Chicago "a mortgage bonds advanced per
cent: Metropolitan Bank 4 Reading, ~ Michigan South
ern old, ~ Panama, -. The most speculative railroad
stock among the fancics is Michigan Southern old
few days ago il up 70 20 per cent, on saturday
down TO 20. and closed to-day nj 20I per cent. hpro
baby about the most hopeless fancy on the list II
possible Is than the Eric and that Is saying
great deal. II is reported that the New York Central
Railroad Company are in the market FOR a loan.
The sources from which this company used 10 raise
money in an emergency arc about dried up,
and further supplies from those quarters arc
out Of the question Tho company viii be compelled to
open some running accounts IN new places. There
appears 10 be steady upward movement in Panama Rail
road stock The January dividend OF six per cent
earned more than a month ago. Western railroad stocks
generally quiet At the second board tho market
much depressed very limited business transacted,
principally for cash. Lower prices ruled Pacific steam
ship Company fen Of Il per cent; New York Central, ~
Hudson River Railroad, ~ Michigan Central Z Roaing,
A. Tho brokers have evidently got tired Of bolsterng the
Market with a view to attract outside purchasers No
progress has yet been made that direction and the
prospect is by no means aascring. There 10 money
enough and the rates of low enough but
experience Of the past twelve months in railroad
ties generally has been sufficient for the year two
The spectators Of the stock exchange will have no trouble
in monopolizing the business for time 10 come.
There arc organic arrangements diseases 10 rail
road system and until the proper remedies applied to
remove them there be safety in the securities
presenting that species Of property. We that an
effort being made 10 bring the different railroad compa
MES into clearing house. that the public geta bet
ter insight their affairs aud thA better protection
shall be guaranteed TO stockholders. The annexed pet-
ton the legislature for the establishment this city
Of railroad clearing house. Is N circulation FOR sigma
lures
The undersigned, citizens OF New York, and sto1hold
ers railroads doing business in ths state,
spectuy petition your honorable body for The passage o
law Cor the establishment Of railroad clearing house
the city Of New York for the purpose Of giving greater
confidence and stability TO railroad property, by throwing
around greater checks against frauds and mismanage
under Of concealed arrangements false
ports.
10 meet the object in view, your petitioners pray that
the law may be " framed ~ " compel all ralroad eopa,