The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-03-11
FINANCIAL AND COMMERCIAL.
N O n e Y n AR X "a r.
WKDNHaDAY. March !

WEDsgspAY. March i0-6 Y. n.
Quotations for stocks took another downward
turn this morning. At the first board there were
fee operations, and the bulk Of the business for
cash. Buyers on time we're plenty, and took hold
with considerable spirit. Virginia State 6's declined
per cent; Missouri State SIS, O.; Erie third mort.
gage bonds, !; Illinois Central bonds. I; Cunber-
land Coal, 2; Pacific Steamship Company 3; New
York Central Railroad, II; Erie II; Hudaoa River
Railroad, IL; Michigan Central, l; Michigan South
ern' i; do, preferred. II; Panama, 1; Cleveland
and Toledo, 3; Chicago and Rock Island, /; Mil.
wsakie and Mississippi, /. Galena aud Chicago
advanced per cent In New York Central the
Operations were unusually heavy. 1t opened at 30
and left of at SO per cent cash. Erie was little
better at the close. The FIRST sales were ut 80 29&
and the last at 80 344 Harlem shows no change
since yt-terday There WAS an active business. and
the stock closed firm. The Improvement in Pa
cifc Steamship Company, caused by the withdrawal
OF the opposition line Of steamers was partially lost
to-day The stock not pressed for sale and closed
NJ 20 per cent, cash. Chicago and Rock Island Wiz
about as well sustained any stock on the list anu
Will wisidSt4Oubt recover itself as rapidly az any
other After touching SO cash. it left of at S34 per
sent, seller ten days. Reading was fraction better
at the close, with large cash transactions Michigan
Southern. common and preferred, were about sni-
laIiy affected. The preferred was only sold in small
lots, and principally for cash. The common stock
WAS plenty ana left off heavy. Panama WAS dull
and sigbtiy depressed. Only one small lot was sold
1t left off pretty steady at LOG per cent Cleveland
and Toledo has fallen largely since the close of last
week. AT that time it was one of the most inflated
stocks on The list and sold freely at the advance 1t
left OIL weak this morning at the decline. The only
stock on the list to-day in which there was any inn
proyement is Gaena aud Chicago. That opened at 924
cash, and closed at 93} buyer 80 days. 1t advanced
steadily from the opening to the close and the pur-
cliases were larger than we have reported for some
days. Galcna and Chicago and Chicago and Rock
Island about the class of stocks and are by
all odds the two best in the Western country.
They are managed by men Of long practical expert
ence in railrosd matters and great reforms have
recently been introduced in the operating depart
ments of each company. They are both actually
earning more money reduced receipts than at this
time last year State stocks and railroad bonds were
not at ~ act,,e to-day. There was no particular
change in prices Holders are principally large
capitalists. and look upon them AZ the best perma
nent investments in the market. We look for very
active European demand for our State stocks-a de-
mand that will put prices considerably above current
rates. II would take advance of some importance
to bring out any quantity Of our most substantial
State securities.
At the second board the market experienced a
further decline, with rather active business for
the afternoon session. Pacific Steamship Company
fell off per cent; Reading, q; Michigan Central
II; Erie. u: Michigan Southern, old l; do. prefer
red, ?; PanaHs, !; Gslena and Chicago, L; Cleve-
land and Toledo, i; Chicago and Rock Island /.
New York Central Railroad advanced per cent on
the lowest price Of the morning, and Hudson River
Railroad on the lowest price current at the first
board. Canton Company was well sustained. Cum
terland advanced l.! per cent. There were large
operations in Erie and Michigan Southern stocks at
the decline. After the board there was an active
demand for New York Central. and eOl was bid.
Erie was better, and closed firm at 29l bid. The
market generally left of steady, with an upward
tendency in some of the leading speculative stocks
The steamship Canada, at Halifax, brings us seven
days later news from all parts of Europe. The most
important item of intelligence is the resignation Of
the Palmerstor Ministry. The return of the Derby
party TO power is considered u very favon-
bic movement for the interests of the
peaceful .ions of all the civilized nations of the
world. Quotations for consols were very well sus-
tanned Any political change Of this character is
calculated to affect for the moment public securities.
and the fact that decline of only a per cent was
realized shows how strong public confidence exists
throughout Great Britain. The complexion of inan
cial affairs generally the other side is favorable The
activity in cotton and advance in prices is the best
kind OF news for all our local interests. A. whole
the political, financial and commercial adviccs by
this steamer could hardly be better. The impression
among houses in the street having large foreign
commission business, Is that extensive orders have
come out by the Canada for certain descriptions Of
milroad stocks, railroad bonds and State stocks.
The orders for purchasing received by the Canada
will he limited IL limited at ALL at prices considera-
bly, above those received by the Europa, as later
advices from our market had been received in Lon
don, showing steady advance in all securities.
The Assistant Treasurer reports today as follows;
tcceirt. sazb@ ~
iaynets ......... .......... tSotS ~
Balance. 2p96,ol3 10
The receipts today included s37 900 from Gus
toms.
were as follows:--
lVls y,
1oAa iVooi' "a
The Metropolitan currency certificates now amount
to 1874 900.
The earnings of the Chicago and Rock Island Rail
road Company for February, 1857, 2eo u
February oo'oso 70
Decrease. s5,5i2 %
The net earnings in February this year were pro
baby double those for the same month last year,
Notwithstanding the decrease in gross income. The
great saving is in expenses.
Tie Nashville Banner OF Thursday last publishes
"a message from Governor Harris To the Legislature