The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-05-15
FINANCIAL AND CONNER CsAL


FRIDAY, Nay 1877. H.
The abundance and cbespness of money /, telling with
some effect upon the supply Of stocks in Wall ssse.
good MANI shares have been absorbed by outside pur
chases, and every day brings some new buyer Who
nss idle capital and strong desire 10 active TIE
market ths morning not at ell buoyant but the
contrary dull and irregular. At The first board Ca rniA
State rs advanced y per cent; Michigan Central ss
Michigan Central Ralrosd, u; Panama, u; Chicago aud
Rock Island, a. Pacific Steamship Company dsSioed
per cent; Erie, q; Harlem, q; Reading, "a; Michigan
Southern, Old Z; DO, preferred, u; Gaepa and Chicago,
4 Upon small saies Panama advanced TO 100 per cent.
Much higher prices looked for by holders the
July dividend. The rate then will be usual six per
cent leaving large surplus The decline 10 Panh, Mail
Steamship Company STOCK is the effect of the
making 10 California 70 establish new line OF steamers
en- the Pacific ocean between Saa Frsuceco and Ps1am1
The Pacific Steamship Company not At all popular IN
California, and We have doubt every effort will be
made 70 get up Competing line II is in agitation TO
secure the aid of the State SUN eut
the of the en.erorse sae stocks and ralroa1
bonds continue in moderate demand and the Purchases
are almost entirely for permanent investment With
money begging for borro~ers a. -four per cent, 1t is
thng extraordinary tor sx and cent State stocks
to be selling below their par value Railroad bonds OF
updeubted security selling ten, fifteen twenty
per cent discount With such opportunities for employing
capital, strikes that need complain Of any
difficulty in making money productive. Tho Secretary OF
the Treasury received bids to The amount of twenty
million Of dollars an average rate OF four TO four and
half per cent for issue million Treasury notes.
while Of the best State stocks Market
ing six and per cent interest," are selling as SIS
20 per cent There are plenty Of ways OF using
money properly, people will only wake up
from the lethargy which seems 10 have fallen upon
the entire community. In many branches Of business
there are fine openings for active with abundant
capital start might with great deal OF proprety be
given 10 real estate and private improvements Houses
are wanted the upper part Of the city, much money
could be safely employed In aordng facilities 10 builders
Where there will there way, and capitalists had
only the disposition TO put their money In those channels
that would lad most directly TO gradual restoration OF
business and confidence, would not be long before
hvity and prosperity would appear every
branch Of industry.
At the second board there change Of Consequence
Rock Island per lower In all the leaiing sps-
ousIive stocks there q small business, principally on
te. California State rs closed 81 per cent which Is
an advance The market n whole "a particularly fat
The earnings Of the Erie Railroad Tor the month Of
AIM 1905 sosoOos %
Earnings April, ls5T.......... ......... b262g 10
tieo2s IL
The transactions at the Clearing House to-day sere az
follows;--
lo,at pashcs pls oI5 6S
TIE Mercantile Marine Insurance Com ,any have do
clsred semi annual dividend Of eight per csu, payable
on demand.