The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-02-04

value of money, than they are now sell
| ing for. The land grant bonds of the La
Crosse Railroad Company have real basis in
the shape of three hundred thousand acres of Sc
lected land located along the line of the road aud
must at no very distant day command much higher
| prices. Among the railroad stocks which may be
considered good Investments, at much higher prices,
| are first Panama, then Gaena and Chicago and all
the city roads. II appears to us that in all these
securities there ia a wide margin for rise, and
grand field for capitalists to find profitable employ
ment for their money State stocks generally rule az
low points but Missouri State 6's at s4A SAL offer
the greatest Inducements for temporary permanent
| investment. At the first board to-day Michigan
| Central bonds advanced per cent La Crosse land
grant bonds, l; American Exchange Bank, /; Cum
berland Coal. 4; New York Central Railroad, /;
Harlem, /; Erie, 3; Reading, 4; Michigan Southern,
old, J.; do preferred, !; Panama, /; Gaena and
| Chicago, T. Sixth Avenue Railroad, 4; Chicago and
Rock Island, J; Milwaukee and Mississippi, 4 per
cent. New York Central Railroad opened at 500
| cash. exdividend, and closed at sls, buyer thirty
days. In Cumberland the movement was upward
| from the opening and closed at l6s, buyer sixty
| days.
| At the second board the market was quite buoy
ant and unusually active. Illinois Central bonds ad
| vanced per cent; Cumberland Coal, l; New York
| Central Railroad, J; Erie 3; Michigan Southern,
old, 1. Panama Railroad closed at 933 cash, against
o24 cash. at the first board yesterday. The upward
movement in the market generally is very strong
and there appears TO be very little opposition TO the
| imitation. There is much difficulty in
| ploying money in any other way with the pros
pect of the most limited productiveness, that the dis
position to buy good stocks is daily increasing and
extending We likely to have many months of
this plethora in the money market, and it looks very
| much now as though money wsuld 60 begging before
! mid summer at three and four per cent interest.
| The accumulation of money in the principal centres
of trade is calculated to delay materially the revival
of business, while it must operate favoraby for
| spectators in stock securities.
| The steamship Europa from this port for Liver
| pool to-day, carried out s222S.as1 II in specie.
This is little larger than anticipated but we can
| well spare it. There fair amount Of business
in exchange for this packet and the best sterling
bills ruled AZ 81 a 10 per cent premium. On Paris
the closing rates were ST. l63 ST l23; Amsterdam,
All AZ; Bremen, so sOa Hamburg, 37i 37s.
The Assistant Treasurer reports today as folows:-
Total receipts sl63 254 10
Total payments. l30Ie6 "
Total ba l47 1856 IL
The receipts to-day include $780, 900 from customs
The exchanges at the Clearing House to-day
amounted to SIS ,329 4l3 q, and the balances paid
were 81 POI $50 SO.
An election for directors Of the Sixth Avenue
Railroad Company for the ensuing year was held
yesterday, and resulted in the choice Of the follow
| ing named gentemen:-Si Sidney Mason, Frederick
| De Peyster, George r. Howell, Samuel s. Bowman,
Daniel Van Dusen, Teunis W. Quick, Waldo Hutchns,
John B. Hall, Gideon De Angels, A. Gostorough
Jones, Washington Yale John Q. Jones, John r.
Lawrence.
The following announcement appears in our adj
vertisng columns:-
Tnr flRisES's FuSp IssrRaxrx CospsNYDEclARauoS oy
INTENTION COMPANY roR FIRE INSURANCE.
We the undersigped hereby give notice Of nten-
aSreeaby 10 an act of he iarsaure o me ,.e Of New
York entitled An act TO provide for the incorporation Of
insurance anes passed June IS 1862 for the pur
pose Of roakpg assurances dwellings, houses stores
and all kinds Of buildings, and upon household furniture,
merchandise ard other properly against loss or damage
by fire. and the risks OF ciana pavgaoa and trans
tionsuch company TO be known by the syle Of
"rhe Fremens Fund Insurance Company, aud to be To-
Gated IN the city of New York.
The above is signed by great number Of our most
| prominent citizens.
The proposed plan of organization and operation
Is as follows
Frstseven per cent interest 10 he paid TO the stock
holders che stock being sl5O.00) aud the ba,i1ce OF
profits above that amour. IS 70 be divided equally be-
tween the stockholders and the New York Ere Depart
| meDt, Tor the WILLOWS AMI Orphans Fund
seooaJThe stock is TO he divided INTO fifteen thousand
shares, dollars each, order enlist May
members Of the department, possible in the support OF
the company by small investment, IN addition to their
general interest as possible oeDencarss Of tie fund.
The plan is a good one. and well calculated 10 Sc
cureyle active exertions OF large class of our citi-
zens in behalf Of the new company. from praise
worthy desire Of beneftting the charity for which
| IL 2.
| pective profits Of the association.
The New York Central Railroad Company have
declared - .ai-ar-, al dividend OF four per cent
! payable on the 18th inst.
Tic 81. Marks Fire Insurance Company have de-
clared dividend of eight per cent payable on de-
mand
| The last annual report Of the Panama Railroad
Company for the year ending December 81, 1851
presents the following items Of receipts and expen
! ditures:--
Balance % credit or inc account, Dec 81 1850 s37s 3et
Dec 81. 1857, o:a receipts from all os ss
Expenditures, bisrss, on bonded debt siis,665
Fssnaies SepTeestcn in iron i.. H.: 5000
| Depreciation account steamers Colrm-
Appropriated 70 siskins Fund ........ 5000
Paid 70 scvsrnmen, Of New Granada a;'sSs
Dividends Nos 10 and IL per 81 U2o G32
Balance credit Of after dividends $500 $50
twill he seen that $40 900 out of the net earnings
were appropriated to the sinking fund and depre-
citation account. The amount set apart for deprc-
citation iron, ties, &C. 10000 equal to nearly
81 600 per mile. The probability is that there is not
another railroad company in the world able to make
out OF net income such liberal appropriation for
depreciation. pay such large dividends and have