The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-07-16
FINANCIAL AND COMMERCIAL.



The activity noticed for the past few days was
still more marked at the Stock Exchange this morn
ing. Though there appeared to be but little buying
on the part of the outside public and many Of the
commission brokers were mere spectators of the
market, the disposition to buy was decidedly more
general than has lately been the case. The absence
of the broker of the steamboat party-who has
lately been the most prominent operator on the bear
side-no doubt exercised some influence. No oppo-
stion was made TO the efforts Of the bull operators
and rise of from 4 to per cent was realized
throughout the list. As compared with yesterdays
closing prices, New York Central rose 4; Erie, {;
Hudson River, 1; Reading, {; Michigan Southern,
4; do. preferred 1; Cleveland and Toledo, s; Rock
Island, J. Galena was steady, without change
in price. Panama declined a shade. La
Crosse declined : per cent in the stock; the
land grants, which were very firm at 3ll at
the opening fell off during the board large supply
Offering, TO 81 per cent. Several thousand were
taken, il is said for foreign account. Pacific Mail
improved ] per cent. The general opinion in the
street is that so long Vanderbilt gets his $50 900
month from this concern there need be no appre-
henson of his opening the line TO Nicaragua llli-
nois Central bonds are steady at the price quoted;
the stock, which is very scarce, appears TO be bid
for at the last reported. Surprise very freely
expressed in the street at the strength with which
the stock and bonds Of this company Is sustained
in the face Of the new call, and while so severe
decline has taken place in England. Experience
has demo nstrated the futlity Of efforts by compa-
MES their directors TO sustain the market value of
their stock in the teeth o, adverse circumstances.
There was very little done in State securities. and
no change took place in prices. The market closed
very strong.
At the second board the prices Of the morning
were sustained, and a small business done. New
York Central was shade better; 80 were Rock
Island, Galena, Michigan preferred, &c. Reading
and Erie were steady. Pacific Mail, under the in
iuence of some outside orders rose per cen, over
the morning prices. La Crosse land grants fell OF
a J.. There was bear sale of Milwaukee and Mis-
sissippi at Isl. The closing prices at Kowalsks
after the board were New York Central So; Erie,
lol; Hudson, 2si; Reading, sGl; Michigan Central.
5si Michigan Southern, 23.; Panama, lO4; Illinois
Central T6; Galena, so; Cleveland and Toledo, 3Gi:
Rock Island, 7Gl, &C., &c.
The prcponderance which the bear party have 80
lcng enjoyed 10 be passing out of their hands
The proportion of street buyers is increasing daily:
and though no reliable rise in market values can be
based on a mere brokers' movement, still il is well
known that the outside public always come in on a
rising market, and prefer 10 pay five per cent more
for their stocks when everybody is buying, rather
than Eve per cent less when their neighbors are
anxious 10 sell.
The operations Of The Bank Clearing House this
morning we've Exchanges sl7 1894 500 "a. and the
balances 81 .lls.392 50. The Metropolitan certif.
hcates remain at $4,000.
The business Of the Sub Treasury today was as
follows
Io'A fece ps.s.s ,2S3 IS
winch trom customs. 1000 90
~ which California drafts ................ 10000 90
fAiance $50 671 is
There is little doing in exchange. Bankers are
holding at 1922 a on London; commercial sigma
lures are worth 1881 81. Francs are selling 5.l5
q 5J2t. In money there is no change 70 report
The following dividends have been declared
The Excelsior Insurance Company, dividend OF 7
per cent, payable on the Goth inst; the Arctic
Fire Insurance Company, semi-annual dividend Of
per cent, payable on the 18th inst; the New
World Fire Insurance, a semannual dividend Of 8
per cent, payable on demand; the Merchants In.
.uranoe Company, a semsnnual dividend Of rs per
cent, payable on the 9th inst; the Bowery Savings
Bsnk the usual semiannua dividend at the rate OF
per cent per anDum on deposits Of five hundred |
dollars end under and at the rate Of per cent on
larger sums. payable on the 10th inst; the East !
RIVER Savings Bank, at the rate OF per cent per |
innum on sums Of FIVE hundred dollars and under, |
nd at the rate Of per cent on larger sums psya.
" " ias I'D list; tSe Balk Of North Aneiioa,