The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-08-01
FINANCIAL AND COMMERCIAL.

SATURDAY, July 81

SATURDAY, July 3l-6 J.. Nj.
The North Star, which sailed this day, took out
only sl7l coo in specie. She is not a particular IA
vTiteawith shippers, and exchange by her closed
duh.
The stock market was again dull to day, with one
or two marked exceptions Saturday is often the
duest day Of the week, in consequence of the alb
sence of many brokers from the board; and the fine
weather which the showers of yesterday bequeathed
us was no doubt an additional reason for several
members leaving town. It must be said, too, that
the Western shares have not yet got over the reac
ton which checked their late rise. Many parties
who might be purchasers are waiting to see
the New York Central dividend disposed of
before embarkng in new operations, so that alto
gether it is easy to account for the condition
OF things. The Western roads were generally bet
ter in price to-day. Rock Island was, as compared
with yesterday afternoon, better this morning;
Galena (Which is very dull, after the late excite
ment) better; Toledo, 7; Michigan Southern, 4;
ditto preferred, 4; Illinois Central Michigan Gen.
trail sold at 62l. New York Central, which opened
pretty strongly at an Improvement on yesterdays
closing prices, was assailed with some vigor by the
bears, and knocked down to the former level. Erie
was shade better, but was very duh. Panama,
ly telling improved again to day-the actual rise
since yesterday morning being equal TO two per
cent This popularity of the stock is of course the
fruit of the Frazer river discoveries, which have
exercised an equally beneficial influence on
Pacific Mail, driving it up sixteen per cent
in less than thirty days. II was a shade
lower this morning. The most active securities
on the list, however, were Reading and the la
Crosse land grant bonds. In the former the con-
test between bulls and bears is at present working
seriously TO the injury of the latter Both have ar
rays of statistics, of course; but the bulls seem TO
be the best provided with pluck and they are in the
ascendant. The stock, of which some six thousand
shares changed hands this morning, closed at IL per
cent over yesterdays price. In the La Crosse land
grants the business was, as usual, Irregular sales
having been at all prices, from " 10 25 and back
again in the course of a few minutes. On the sug-
ceston Of some members the of the interest on
these bonds was taken up by the board and the Col
lowing resolution passed
Resolved, That committee OF three he appointed By
the chair to recommend what action any, may DO ne
csssry the part of this board the recent de-
isu OF the Ia Crosse and Milwaukee Railroad Oonpauy
to pay their interest the land grant bonds after ayer
tsug hst payment would be made
We understand that the directors feel confident
mat tney VIII De aDle 10 satsy the committee that
no fraud was intended. Mr.. Stanton's card. which
was published this morning, explains how the acct
dent occurred and while it is quite proper that so
grave deviation from financial custom should be
thoroughly investigated. presume that it will ap-
pear that the directors the victims not the con-
tryers of the deception and that SO far from selling
the bonds short, they have been regular purchasers
throughout the past fortnight.
Very little was done this morning in State stocks.
except in Mlssours, of which many large lots were
sold 10 spectators at latest quotations and shade
higher "a The stock touched &C. but closed AZ ST.
The business in bank stocks and railroad bonds was
very light The market closed steady hut dull, the
board having adjourned over to Monday morning.
The exchanges at the Bank Clearing House today
were sl4 3SO0l2 l6, and the balances were Al O37-
6isr3s. The Metropolitan currency certificates show
M change during the week, remaining at 81 900 the
same as on Saturday last.
The following dividends have been declared:-The
New York and California Express and Exchange
Company, a semiannual dividend of five per cent
PAYABLE on Monday next; the Long Island Bank. Of
Brooklyn semi-snnual dividend OF five per cent
payable on demand.
The casl,as and liabilities OF the New Orleans
banks on the 18th inst. were as folows;-