The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-07-25
FINANCIAL AND COMMERCIAL.
HONEY n INK K II.
SATURDAY, July 24-6


The commercial news by the Indian, which ar
rived this evening at Quebec, will be found in
other column. She brings four days later intelli-
gence.
The stock market opened this morning with a
very healthy feeling, and rather disposition to buy
on the part of the smaller operators On the first
call, however, this feeling was checked by the bold
offerings of stock by parties not hitherto identified
with the bears. New York Central, Galena and
Rock Island were the stocks most freely offered of
these securities there seemed to be so much to sell
that not even the bold purchases of the bull party
would avail to prevent decline The old chief of the
bears-the veteran who not 80 very long since, was
vehemently assaed by certain public prints as the
malicious enemy of our great industrial and railroad
in.erests-was this morning almost the only power
iul friend those railroads had. But his purchases
large as they were, could not prevent decline in
New York Central from So to S4I, and in Rock
Island from T7i to 17s. rumor spread through the
board during the first call that the New York Gen.
trail dividend was to be three, instead of four per
cent The only basis for such rumor was
the gratuitous suppostion that the Central
would follow the example of the Galena. No
thing has yet been decided in relation to the
from the most positive assurances OF those who will
have the decision Of the question in their hands,
there s not the least shadow of ground for supposng
that the dividend will be less than usual Whatever
the earnings of the road may be, the Central diyi.
dends viii continue to be four per cent half yearly.
As usual at the present time, when the public in.
tervenes ct the board seller only, the decline in
New York Central and the Western roads affects to
some extent the general market. Erie fell off I;
Harlem, 4; Reading, 4; La Crosse, A. &c, &c. The
exceptions TO the general rule were Pacific Mail,
which continues to improve under the combined in
huence of the profitable employment of the Pacific
boats, and the demand for stock from the bears;
Michigan Central which is scarce, and which rises
per cent on each order for investment; Panama
which is better; and Illinois Central whose friends
consider the news from England favorable and
almost tantamount to an assurance that the English
holders viii pay the new assessment and to continue
to hold their stock. The bond market was very
dull as usual. few parcels of State stocks were
sold at last quotations. La Crosse land grants i'm
proved q & on the strength OF renewed confidence
in the ultimate success of the company in acquiring
the land. There is nothing new to report in bank
stocks. The market closed dull and weak; the
board adjourning over TO Monday, but leaving the
room open for such operators chose to congregate
there.
The steamer Fulton took out this afternoon 1885,
s67 many leading bankers holding of for the pre-.
sent. Exchange on England and France is dull. 1t
is held by the principal drawers at 1895 ITO; but
we hear Of no sales above z. Messrs. Goesbeck
4 Hoyt quote domestic xehangesunchanged since
last quotations.
The exchanges at the Bank Clearing House to-day
were ,21o03l Co. and the balances 81 o4l l6l ~
The Metropolitan Bank certificates amount to $4,000.
The business of the Sub-Treasury today was as
follows