The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-02-18
FINANCIAL AND CONNER GAL.
ONEY MAR X EFT.
WEDNESDAY. Feb. l7--e p. N


The stock market was quite buoyant at the open
ing this morning. There were very large transac-
lions in all the leading speculative stocks, and an
advance in most Of them was realized. The sggre.
gate amount Of transactions sums up greater than
any day yet reported during the present speculative
movement. AT the first board Missouri State G's
advanced per cent; California is, I; New York
Central 6s, 1; Canton Company I; Hudson River
Railroad, II; Harlem, I; Reading, 1; Michigan Cen.
tral Railroad, ~; Michigan Southern, preferred IL;
Galena and Chicago, u; Cleveland and Toledo, 4;
Chicago and Rock Island ! Milwaukee and Missis.
sippi Railroad. 8. Virginia State G's declined per
cents Illinois Central bonds Il La Crosse land grant
bonds !; New York Central Railroad, 4; Erie, !;
Cleveland and Pittsburg, /; Illinois Central Rail
road, /. The most active fancy on the market this
morning was Reading Railroad. While most Of the
other railroad stocks have been steadily advancing
this has moved very little II has at last been
taken in hand, and II looks as though
the parties concerned intended TO make up
for lost time. Cleveland and Toledo was quite
active at the first board, and the sales amount 10
than three thousand shares almost entirely for
cash. It was well sustained throughout. Gslens
and Chicago was more freely offered to-day on time
For some days past the sales have been principally
for cash but not 10 great extent. II opened at s3i
cash. and left of at 93 per cent. The purchases
almost entirely for investment Chicago and Rock
Island opened firm at So per cent. but declined
towards the close. The sales were not large, and
very little stock was pressing on the market The
rapid rise in Hudson River Railroad stock this
morning was the feature Of the market The atten.
tion Of capitalists and others has been directed to
this road by the quiet and unassumng character Of
it, operations and management. II is, we believe,
progressing slowly. but steadily in the reduction Of
it, floating debt This Is the true test Of prosperity
and economy. At the second board the market was
lower In some stocks an important reaction we
realized, and there appeared TO be free sellers
at the decline. There was an active bur
ness The cause is attributed entirely TO tue
fact that many holders who came in az low points
Of the market are realizing. This is but natural
after such rise; and the market may be unsettled
for some days in consequence. Missouri State SIS
fell Of per cent; Illinois Central bonds, Il Canton
Company 4; Cumberland Company, 4; Pacific Steam
ship Company. /: New York Central Railroad. q;
Erie, ! Hudson River Railroad, 1; Harlem, Z; Hsr-
lem preferred, a. Reading. 1; Michigan Central, 1;
Panama. I; Gslens and Chicago IL; Chicago and
Rock Island H. After the board prices ruled higher,
and The market very firm at the close, II il the
general opinion Of the street that the next move up
wards win carry prices above The highest points yet
touched So long as money continues so abundant
and The banks continue TO lend their powerful sup
port TO speculation, the imitation must 20 on The
views Of outside operators not near so extrava
giant as those entertained by the oldest shrewdest
and usually not sanguine brokers at the board
regarding future prices. The London correspondent
of evening contemporary writes by the Niagara az
follows
Thus far the reductions which have taken place n. go
failed stimulate any revival OF speculation either IN
wade or on the Stock Exchange. The bankers, oonse
queutly arc al fuil O money, and as their only leKu
mate way Of employ ing IL In discounts the purchase
II consos Exchequer bills, the latter securities have
been driven up IN the share market there are vast