The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-07-21

! per cent? Panama, I per cent. The renewal of
operations by Mr.. Drews house against the leading
speculative railroad stocks had, as usual, the
effect of frightening away buyers, who always sup
pose that Mr.. Drew's position enables him to bring
about the changes which his interests may
require but no decline was effected. New York
Central closed strong at the price current Last
ing, though it was freely offered by the house in
question per cent lower seller sixty days. Erie
was also steady; Rock Island improved 4 a 4; Read
ing, Michigan Central, Cleveland and Toledo, and
Michigan Southern were steady at last quotations
Pacific Mail was firm at $50 854. We are happy
to hear that there is no ground for supposng that
anything has gone amiss in the financial affairs OF
this company. Harlem rose to liz, rise of Il per
cent within the past day or two. The pending law
suit on the right of this company to run cars down
the Fourth avenue to Twenty-seventh street will
no doubt shortly be decided. The prevailing inn
preston is that the decision will be favorable to the
company, it woul seem absurd to curtai the CON-
papy's privileges and inconvenience the large class
of persons who come into the city over the Harlem
every day. merely for the satisfaction Of few pro-
perty holders on Murray Hill, who purchased there
after the railroad was in operation There was
a sale of Nicaragua Transit at q, an Improvement
Of on the last sale. We note also sale Of ten
shares of Cumberland at 1884, Milwaukee and Mis-
issppi rallied TO II from the depression Of yester-
day. II is said that there is hope of extricating
this concern from the embarrassment under which
it labors. There was no activity in the bond mar
ket, and no change Of prices except in La Crosse
and Milwaukee land grant bonds, which declined
per cent. Respecting the present condition of this
enterprise we have received the following from a
well informed source
The Secretary Of the La Crosse ana Milwaukee Railroad
Company gives notice Of the punctusl payment Of tue IN
upon the land grant BONDS due LIST Of August
In with all I'M finished roads, the Ia Crosse
papy incurred great sacrifices OF its securities during the
late revulson The directors however, have perseverei
in the coneucton OF the road knowing TO be the best
ana most profitable route OF any Of the Western roads
when The late Governor Of Wscc psn granted
10 the company in December last certificate for
petrg forty miles Of the land grant road from Portage
City to New Lisbon, amounting 70 23o 400 acres An I'd
dtona enty miles been completed romAh which
entities the company to about 80 900 scres 307 200
for sixty miles difference OF opinion exists
the part Of present the construction OF
the road from Madison 70 Portage City, which can
only be temporary proper time the company
propose to sell theee lands at ten dollars per acre,
receiving in payment land graut bonds 1T par The sale
Of acres Of land at $40 per acre. would retire
bonds to 81, 100000 The road will be completed 70
Ia Crosse in October next and the earnings OF the road
pual interest Of the grant bonds It's first
second mortgage bonds The estimated ,epts
average Of s25 oeo per month for the past year The
FIRST great obje:t OF the pany has been TO reach
La Crosse, from which 10 realize large income The
sructon Of the branch 70 Madison will be shortly
cued with vgor and by ts construction the company az
qure additional land amounting in the aggregate TO over
AGO 900 This ali objections and doubts Of
Governor of Wisconsin, and vests the absolute perrec.
title to these snos in the company aud the proceeds
solely applicable 70 the retirement Of the land grant
bonds.
After the board the market was firm, but dull. At
the second board the business done was exceedingly
small, without change in prices No vitality can be
discovered in the stock market, and until some
change Of a radical kind takes place it will be
equally improbable for the brokers and their few
customers. The closing prices at Kowalski's were:
New York Central, $50; Erie, Is; Harlem l12 Hud
son, 2sl Harlem, liz; Reading, As; Michigan Cen
trail, $751; Michigan Southern, 222; Panama, 1885,
Illinois Central 74l; Galena s9l Toledo, 36 Rock
Island, 76I; Milwaukee and Mississippi, l73.
The exchanges at the Bank Clearing House this
morning were SIS LOG ,l44 46, and the balances
ss6s ,l73 "a. The Metropolitan certificates remain
at So, 900.
The operations Of the Sub Treasury this day were
as follows
Total receipts. f@sl, 100 90
From Customs $1,000 20
2iTOc2 70
iotsl oLsnccs, ,ii3 o;
The following is extract from GroesDeck &
Hoyt's circular for the country
The week past was abundance In money, on
short negotiations Of prime city character, at q per
cert on stocks and bills within sc 90 days aud IA
per cent en- bulls 90 l2e days. Longer date paper in
less favor than earlier 10 tue There
very marked dornaDd for or movement in stocks this
week yet ind steady though moderate request fOf
dividend paying shares ana for ell the State, Of
tie best railway boods; AID the prices for these
gradually feeling the ipnaence Of the abundance and
cheapntis Of morey The bank statement shows an uu.
prCcedentec lire Of country bank balances unemployed
n the city, and OF individual depossthe two reaching
together, alter oeduct,rg the cearances o. The week,
something over ninety million dollars
The domestic exchanges have undergone lille
Ia,9n since orr sst report f1ss'sn bills ais hrmer,
As usuA at tho close ~ cotton the supply OF
mercantile bills IRON the South has fallen on esvi0g
standard banking houses, who will probably, Tor some
weeks 70 come, employ moderate shipments VI gold
should the advance OF the rates oodoa Ito per
be July esAblxhed.
The following is comparative statement of the
exports, exclusive Of specie from New York to for
eign ports for the week and since January -
1856 1857 1885
Prevovrly reported. 41,ieo,o24 $500, 5ss 32os6bsl
Since january ...ss3 oce 4O.blab5o si,iOs go
We take pleasure in directing attention TO the
honorable course pursued by Messrs. West, Caldwell
Co.. dealers in hat and cap materials No. 50 Broad
way, who having failed during the crisis last year
and settled with their creditors at fifty cents on the
dollar have recently called them together and paid
them the balance in full, principal and interest.
Such acts are equally rare and honorable.
The following dividends have been declared
The Leather Manufacturer Bank semi.annual diyi
dend Of five per cent, payable on the % OF August
the Astor Fire Insurance, semiannual dividend OF