The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-08-22
FINANCIAL AND CONNER GAL
MONEY MARKET.

There was rather more activity in some specula-
tive stocks this morning. The Arabias news, con-
tanning. "a IL did, information of more speculative
feeling in the London market, and of rather better
inquiry for American stocks, must be regarded as
the chief cause Of the improvement. Our brokers
have 80 long expected an era of speculation to grow
ON Of the plethora of money in Wal; street, that
every event which may be construed favorably is by
them regarded as the signal for the rise; on the
least provocation they rush headlong as buyers
into the market fearful lest the public should
have got there before them, and determined
to make handsome profit this time.
Hitherto. unhsppily, the public have not been
liberal enough 10 step in and relieve the bulls of
stocks 30 bought. Stocks opened this morning very
strong and firm. Central, especially, which is
pected to be scarce at the opening ON Monday was
in demand at an advance of : over yesterdays
closing price and before the close Of the call i'm
proved another q !. The contest bet yeen the
bulls and bears in this stock is becoming very inte
resting; the result will turn upon the fruit Of the
efforts which il Is proposed TO make to reconcile
the Erie and Central Over three thousand
shares changed hands this morning. Erie was
/ better, without particular activity. The
Western roads, notwithstanding the falling
of in business consequent upon the poverty
of the crops, shared in the general improve
ment. Galena was BETTER Rock Island, 4; Toledo
was steady; Michigan Central / per cent better;
Southern, I. In Reading the contest appears to be
mario wing itself down TO a fight between a few
friends Of the manage nent on one side, and the
public on the other. One after another, all
the principal operators are turning 10 the bear
side. Panama was / better; Pacific Mail, 1 a z.
We note sales Of Canton at 20; OF Cumberland
Coal at l7s-an improvement from last sale.
The business In bank stocks was SMALL ut
full prices. Merchants sold per cent above last
price quoted. Among the railroad bonds there was
little business DONE Illinois Centrals are per cent
higher the stock being also held at improvement,
on the strength Of expectations from England.
Missouri skies sod sellers option, below the cash
price. Tennessee skies also ! lower. With the
exception Of these two there but little business
done in State securities. At the close the market
softened, and sellers, after the board forced 10
make concessions averaging 4 per cent 10 make
sales.
In the afternoon (there being no second board
Messrs. Groesbeck'S Hoy. quote bids as folows:-
Central, 49,; Erie, l7l; Reading, 4sl; Michigan
Central SIS; Southern, 22l; Panama. ia; Illinois
Central, ~; Galena, 49, Toledo, 81; Rock Island,
72' Pennsylvania Coal, "a; Pacific Mail, s5t. The
market closed inactive.
The business OF the Sub Treasury to day was a
follows s.
OF which from customs. is7 600 90
Ioia' paymer". 2se 100 ~
Bal ance. T3e,6s9 IL
The exchanges at the Bank Clearing House this
morning were sl3,7sO,s5S So, and the balances,
IT..
at IS 600.
The People s.perpctual Loan Fund Association OF
Boston, has declared a semiannual dividend of five
per cent.
The receipts Of tine Michigan Central Railroad for
the first week Of August were s3l 3Jj 20, against
$3s, 9O7 ~ in the corresponding month Of 1857. The
receipts for July were
IRE sbi.....................t S2a3 81 e5s,l 90
Miscellaneous. s,lSO IS esor5s
Totsl sN3,sT2 % 81 c35 -
Decrease. ..... f67se3 b3
The earnings Of the Central Railroad of New Jer.
sey for July, 1858, were a. iollows:-
J yoy he nss ssm: mou,s la:, year sli ~
Increase ca per cent? fi4si0 s5
The following is a statement at the earnings OF
the Pennsylvania Railroad from all sources Tor the
month, and since January l, a. compared with las,
year.
Gross Eaynipgs E-r--,s, Ns Err-frg,
July, 1sts....... s5io ..ie OF lsaSa 81 isoaol -
July, lsb'......,. @4'sse 20 2sosei 80 l2lcto 20
- - -
Dscrc~e....... sb,7ss 70 5000 a. -
'' isss 70 AU. ,a,sols 50 I,5r ,se 10 isss os, 70
yesr 600 90 1o9s sS5 a ios7iss "a
Increase ...... s5,i39 90 2ol, $50 2b
Decrease....... sla63p5 90
The earnings Of the canal department Of the
above road in July, 1855 and since January have
been as follows
Gross Errrsrgs Egrerses Net Eaypfagt
July, is5s.........tle,si2 ~ sn 1Oi % ss7ii -
Jan 1 TO Aug 4, IS. sf,TOs 90 $50 05 1eaas %
Net earpipss OF the canal from August 4, lsJT
Net esrDipss OF the cssal from Jan /. lsss, 10
Aug ], 19.4ts Ga
Net earning Of the canal from Aug. I, 1857.
Aug 4, 1895 s........... .t3s ,6f2 %
The tonnage Of the Reading Railroad for the week
is only 10 500 tons, which is falling OF OF nearly
Is per cent from last week. The following commu.
cation comes from correspondent whose former let
ter ON the subject published in our columns in June
has been sngulsrly verified by events IL will be in
terestinr to parties concerned
Instead Of counting business everything seems n be
DO Inv II pm nj a. no O.,