The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-03-02

trail Railroad e's, Z; Harlem third mortgage bonds
d Reading bonds, I; La Crosse land grant bonds, 2;
Milwaukee and Mississippi bonds, Q; Canton Com
pany, I; Cary Improvement Company, Z; Delaware
and Hudson, 4; Cumberland Coal, /. New York
Central Railroad, 8; Erie Railroad, II; Hudson
River Railroad, a; Harlem, J; do. preferred, 1;
Reading Railroad, 2; Cleveland and Pttsburg, Q;
Michigan Southern, 81; do. preferred, s; Panama,
IL; Illinois Central Railroad, IL; Galena and Chica
60, Il; Cleveland and Toledo, IA; Chicago and Rock
Island, ri Milwaukee and Mississippi, q; La Crosse
and Milwaukee, l. 1t will be seen by this compare
tive statement that there was not an exception
to the general rise in prices Everything on
the hist improved, and some stocks three, four and
five per cent. In New York Central Railroad the
sales sum up nearly five thousand shares, opening at
SO per cent and closing at 90 per cent, seller 80
days. Erie was in demand to-day at better prices,
and the cash transactions quite large, amount
ing at the first board to nearly seven thousand
shares Prices fell of little from the opening.
Telegraphic dispatches from Halifax say that there
arc large orders in the Americas mails for both New
York Central and Erie Railroad stocks. There is no
doubt of this, and the impression is that upon the
receipt of letters the demand for these stocks will
beeuficienty active to put prices up considerably
above points now current. These stocks favorites
with foreign capitalists, and they will, without
doubt, absorb large lots. Hudson River Ra-
road was taken to-day at the first board to the
extent of upwards of two thousand shares notwth
standing the rapid advance. II opened at IS per
cent cash, and closed at &c., seller 10 day Holders
Of this stock have considerably elevated ler ideas
and now look for prices not dreamed of few days
SINCE The prevailing impression is that there is a
wider margin in this stock than any other the list
just now. The quantity of stock ahoat is so small,
and the rest is in such strong hands, that any adj
vance in market value is not likely to bring much
out. Michigan Southern, old stock, was quite &C
tive this morning, and rapidly advanced. We no
tice sales this morning of Cary Improvement Com
pany at 81 per cent. This is land company, 10.
Gated favoraby in the vicinity OF Boston, and is said
to be doing very profitable business in the sale of
its lands. Cleveland and Toledo has more than re-
covered from the depression and is now selling at
prices higher than have been realized for time
previous to the reyusion. II appears TO have strong
friends, who imbued with any quantity of conf
dence We trust it will not be misplaced. Galena
and Chicago opened and closed strong to-day at our
quotations. Panama closed firm at l07 per cent,
which We believe is the highest point yet touched.
Chicago and Rock Island was quite buoyant this
morning. The future of this company is favorably
considered, and the buyers firm believers in its
value as permanent investment. II ranks next TO
Gaena and Chicago among the Western roads, At
the second board the market was moderately buoy
ant, and closed with a strong upward tendency. La
Crosse land grant bonds advanced per cent; New |
York Central Railroad 1; Harlem preferred, !; |
Michigan Southern, guaranteed, clos ed at 56A per |
cent and very little stock offering. 1t should be |
borne in mind by operators that this is guaranteed
and not preferred stock. The company have |
guaranteed annual dividends of ten per cent and all
arrears become claims upon the treasury Of the COM
pany II is estimated that with a gross income of |
two millions OF dollars the company can pay this ten |
per cent The road has earned two millions seven |
hundred thousand dollars, and will, without doubt,
do so again. This the dividend Of the guar
anteed stock and leaves surplus for the old. The
Michigan Southern guaranteed is considered, among
those well posted, equally valuable within Michigan
Central Railroad stock, and full as likely to get
gular dividends After the board the market was
better, and an advance on the reported quo
tations realized. New York Central
Railroad was purchased freely in the street
at 93l per cent cash. Hudson Railroad was firm
after the board at 3s! per cent. large amount Of
this stock has been purchased TO put away, pur-
chasers expressing confidence in its future value
a. permanent investment.
The Assistant Treasurer reports to-day az follows:
lota ray "a ,s79 Is
Total balance. $685. o.
The receipts today include Sol 900 from customs,
and the payments include $4,000 on California
drafts
The bank returns for the past week, compared
with those Of the week previous, exhibit the follow
ing variations in the aggregates of the leading de-
partments -
Increase in loans and discounts ............ se23e3
nac,aasa s,,s.,cn eso
Decrease In deposits, actual. Z74Gs3
These changes are not of an important character
The increase in specie is not quite up to general an
ticpation, but il IT, nevertheless satisfactory. The
banks have probably in hand today about thirty
three and ha miiLon of dollars in specie. The Cali
fona remittance by the Moses Taylor will 20 into the
count for the whole Of this week and serve to make
high average at the close. We shall have specie
shipments 10 foreign ports for many months. The
steamer Wednesday will take out nothing of con.
sequence, and our accumulations are likely 10 be
steady and in the end very large. A few months
will suffice 10 swell the specie reserve to full forty
millions Of dollars. All the great banking institu-
tons throughout Europe show very great increase
in their supply Of specie, and II must continue for
long time 20 increase in all the important financial
centres. The increase in discounts reported by our
banks Is quite moderate. In deposits the decrease
il unimportant, bat shows more activity among ca
ptalists. The movement in stocks sbsorbs large
amount Of money, but only a small portion Of the
aggregate appears TO be drawn from the banks
The Erie Railroad Company are paying the cou-
T.ons its first and second mortgage bonds. As
soon as the company is in funds II will pay the
pons on the third mortgage bonds.
Several Of the city saving banks are Offering
money at five per cent on six months time. This
shows perfect confidence in the future supply and
low price Of capital the part Of some of our old