The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-09-26
FINANCIAL AND COMMERCIAL.
MONEY MARK EFT.
SATURDAY, Sept. 2j--6 P.

SATURDAY, Sept 2j--6 P. NJ
The principal feature of the stock market this morning
was the rise In Panama and Pacific Mail together with
increased demand for Illinois Central. In Panama il is
that Clique has been formed TO put tho stock TO 100
and Of their capacity do they shre~d opera
tors there be question the prcscn, condition of
the money market, and with the large earnings and
stlei did prospects &C the road. The stock opened to
day A Il5 yesterday price, but steadily through
GU, the day ill touched us at the afternoon board
from which point il reacted 4 per cent. All the pur
chases made by the party. Pacific Nail in
which the reaction took place yesterday rallied again
day and three per cent, with free BUYERS
nj the advance. The shorts in this stock have
suffered so severely that they are yer, eau
tons about putting out fresh It the opinion
OF many that the speculative mania of the old Wall street
operstcrs-who dread Western railways ss plague
will find employment IN bulling Panama and Pacific
Mail which have the combined merits Of intrinsic worth
and comparative freshness speculative stocks Illinois
Central rose Isl per cent to-day. The sales. however
we're very limited The rsc is doubtless 20 the good
eses produced by the statement published yesterday
az the reduction OF the floating debt the genera
prospects Of the company Michigan Central declined ..
,r cent morning. but recovered the decline
This evening" the transactions being light There Il bu,
little speculative business in this stock; tho decline IL
wholly caused by the sales Of stockholders who fear tina,
win deprive the Central Of large proportion OF it's bust
ness In the other speculative stocks the movement was
yety slight New York Central held its own NJ ycstcr
days prices and did more though the fact Of an agree
ment 10 raise the fare well known. Erie was aul.,
Rock Island opened a slight decline from ya.tersv
price fell OF = per cent, recovered the afternoon
board and again declined =. after the board GaIena
opened lower bus IA yesterdays price on the secnd
call this morning Toledo = per this afternoon
free purchases having been made by prominent opera
tor Michigan Sorihsrn Ike manner opened Mt slight
decline hut recovered before the end the day Read
ing was decidedly lower tins morning-there were no
transactions nj the second board The tonnage for the
week reported 5s7 tons against 81 o7o BY the canal
TIE IN bank shares large and well distributed
The same remark viii apply to the operations state stocks
and rairoaJ bonds The following were the CLOSING prices
after the second board, a reported by Grocsbcck &
Heyt,--ccnral, IT, rs; Erie. liza l7y.; Reading a.
AK Michigan Central. 5o4 co.,; southern ~ 2s,.
Panama, 1Tii iiTk; Pacific Mail, 1917 l02 Illinois,
70 7sts: calena, s. s21; Toledo. % a 32k: Rock
Island. e4A ellS. The market closed heavy
The Convention Of Railroad Presidents which was in
session Yesterday and the day before 81 Nicholas
closed IFS labora this afternoon and signed an agreement
the uan details Of which similar those ce the Pha
dcphla agreement.
There i no change in money or exchange TO report
The yigo ,cok on, sioooo the Bremen 80 800 in specie
Foreign exchange s quiet.
The exchanges the Bank Clearing House TO day we're
sfi1sa,TIs; the balances ~ ,12s,co6.
The following the business or the Sub. Treasury
today
Ittal receipt NlsJ9b ~
az which from customs .............. 10000 90
Total paymenis 2s3gee is
Total balance III sSs GOA "a
The following dividends have been declared Tho Hart.
ford and New Haven Railroad Company has declared a
dividend " syo dolars fcr shsro Of iSc capital stock
ssudng % the books Of the company on the 18th inst,
payable on the Isl prcxmo the Philadelphia Whining.
ton and Bali moro Railroad Company dividend o. three
pr cent; the Ice Rank Of lee, Mess, semi annual
dividend II ave per cent, payable Oct. T.
The following the Official statement Of the business
Of he watcriown and Rome Railroad Company for tc
month Of Augasi-