The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-06-19
FINANCIAL AND COMMERCIAL
M ON EY MA RK Il II

FRIDAY June ls-oG. M
Quotations for stocks show q slight improvement this
morning In the old specuatives there increase
Of business, but the leading Western railroad stock,
there than the usual activity 6alcua aud Chi
cago has become Of most active speculative
rites, and the daily transactions quite large Az the
lrrt board today Illinois Central bonds advanced q per
cent; Ia Crosse land grant bonds, y Delaware and Hud
son, n; Reading X; Galcna and Chicago, y. Michigan
Bouthrn preferred declined per cent and Panama l. IN
railroad bonds the movement continues limited. The
market be considered The WHOLE little better
day but the probability Is Thai IL will be short lived
Most Of the time salcs to-day we're sellers option The
movement 70 put up Reading does work favcraby
anticipated. without actual value In tho stock az an
Investment will be difficult 70 get up much OF nns.
ton. The company cannot provide for the interest s
funded and floating debt which looks very bad for dvi
dends In the first six months OF the present fiscal yea
the decrease In coal tonnage was nearly tao hundred
thousand tons, with q tariff OF charges conside
rably lower than for the same time last year.
There Is very poor prospect fer dividends In
either Galena and Chicago or Chicago and Rock Island
railroad companies With the damages from frcshe,s
and reduced receipts the net earnings will make very
poor shor. Neither company make oven small
dividend without borrowing nearly the whole Of the
money. The President Of the Erie Railroad Company
not far out Of tho way whsn he said that there was not
railroad IN the country earning dividend its capital
stock. The mortgage deb, OF our railroads IL about
much rs they take Of, and ultimately most Of
them must down W that basis Az the second board
the market for stocks was q shade two better,
but prices irregular, and the operations limited
Ia Crosse land grant bonds half per cen, higher
Cattsn Company, " Erie, y; Michigan Southern old,
-; Chicago and Rock Island, y. Cary fell ca u per
cent Illinois Central ~; Milwaukee and Mississippi, \
There sale this afternoon Of Cumberland preferred
al Is per cent The market closed heavy, with stocks
freely offered quotations. The bears evidently
have control Of the street The season, the times, and
all the elements in their favor, except the excessive
supply u money and even that does not seem 10 hello
operators for q rhe.
The Assistant Treasurer reports 10 Cay A. follows;
Total receipts. fl255oo "
payments. ......................... Ia GIG lb
beaoce. ........s.....ss.s 1'z0,-3l IL
The receipts include t49, 900 from customs.
The exchanges AZ the Bank Clearing House this morning
were Css e.. and the balances ss27 235 a. 10
the Metropolitan Bank certificates there change the
amount held stll remaining at $4,000.
The Nay earnings Of The stonngoc road sle625 Al,
agsns, sl91lo ca In 1s57a Ices Of s24ss O. The
ngf Of the Norwich and Worcester road s2 500 90,
against t25 S7s 70 last cara isl Of 1877 e5.
In the supreme Court yesterday before Judge suth~
land, The proceedings Of the Tax Commissioners were
affirmed with costs the matter Of The application Of The
International Ii Insurance Company OF London for
rnisron Of tax TIE points At isfue were as follows
Tie company have invested 100000 their business
10 N city, snd the Tar CommissOntrs sxed hsccor Ing
~ on The psft OF The the Revised Statutes
Werc cited bv which all moneyef stock corporations
oervBg IN roorne profit from their capital other
WISE are liable r. t1x,tiOn on their capital The rems
of NE vas asked for ~ thc grogud tei The
T8ny G r. fore corporation.
Tho receiver OF TIC Yates County Bank has declared
dividend o. fHcsn per cent Senator pyeo, Of rlmira,
is The receiver.
ne ossrner Of glc hrsrsao ts Ins1rlace and trust
Conpaly t0 pp,led The rlc.ttotsrs its' b wllr