The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-27
FINANCIAL AND CONNER GAL
MON Ely MA II X e r 4.
TUESDAY, Jan. 26-6 F

TUESDAY, Jan. 26--6 I. NJ.
The stock market was little fiat this morning, SO
far as prices are concerned There large opera
tons and good deal of cash business. The shorts
have closed up large number of their contracts, and
the demand from that source is daily diminishing
In State stocks and railroad bonds there was more
than the usual activity. Missouri State 6swere sold
to the extent of about thirty thousand dollars, open
ing at $50 cash. and closing at $50 per cent buyer
thirty days. Illinois Central bonds advanced rapidly
from the opening, and closed firm at 81 per cent
La Crosse land grant bonds were in demand and the
sales ranged from 49i to 5oper cent These bondsare
going into the hands of largest capitalists and
sought for principally account of the nature of the
security offered The road independent of its land
grant must as soon completed to La Crosse, on
the Mississippi river, be paying property, as it will
be the principal outlet for all the Minnesota bust
ness. No railroad can be constructed in Wisconsin
TO cross the State from good port on Lake Michigan
to the Mississippi river higher up than the La Crosse
and Milwaukee road and this gives it very import
ant position in securing the travel and traffic of the
| great Northwest. Galena and Chicago first and
second mortgage bonds are sold almost daily at the
board, and command good prices. New York Cen
trail Railroad bonds not well maintained to-
| day. This company is continually putting out new
| issues, and il appears 10 have endless eIpply.
The recent issue of half million was not to raise
money for the dividend. 1t was for
tirely different purpose. Funds to pay
the dividend have been raised in some
other way. Cumberland Coal Company closed this
morning weak at l4E per cent and the seller the
broker Of the combination clique. The capital and
debt of the Cumberland Coal Company amount to
SC 900 900. Alongside Of this concern is another,
called the American Coal Company, which can, upon
a capital Of 5000 900, do more business and make
more money than the great Cumberland with its
immense capital and debt. At the first board TO-
day Ohio State 6sadyanced per cent; Tennessce6s,
Il Illinois Central bonds, 4; Delaware and Hudson L.
Harlem Railroad, Il Pennsylvania Coal, /; Reading,
4; Michigan Central, 4; Milwaukee and Mississippi,
!. Virginia State 6's declined per cent; New York
Central G's, 4; Michigan Central SIS, IL Galena and
Chicago second mortgage, 4; Cumberland, 1; Erie,
1; Gaena and Chicago, d Chicago and Rock Island,
4; La Crosse and Milwaukee, 1; La Crosse and Nil.
wsuke land grant bonds 4-privilege sold at SO per
cent. The privilege is ten shares Of stock on each
bond issued upon the payment Of IS per share.
AT the second board there was an active market,
without any material variation in prices Missouri
State 6's fell of per cent; Illinois Central bonds
1; la Crosse land grant bonds, T. New York Cen
trail Railroad 4; Cleveland and Toledo 1; Chicago
and Rock Island Z; Erie, 1; Illinois Central Rail
road, L. Gaena and Chicago advanced 4 per cent;
Cumberland Coal Company, J. At the close the
tendency was upward, and the desire 90 employ ac-
cumulating deposits must naturally initiate prices
fc first class securities The plethora Of the money
market is daily Increasing and parties who now
hesitate about taking hold OF second class securities
will be very likely, the abundance Of money in
creascs 20 enter the market purchasers Of secur
ties not considered first rate, but which may be for
the moment more OF less productive. We see no
possibility Of even an ordinary stringency in money
matters for many months Those who have good
securities or in fact stock securities of any kind
can raise money on them al low rates Of interest
whep we see our largest. private bankers loaning
money on such stock as Cumberland at about two
thirds its market value it strikes us that il cannot
be difficult TO hypothecate anything in the shape a
fancy stock.
The coupons on the second mortgage bonds Of the
Harlem Railroad Company due the first Of Febru-
airy, will be paid on and after that date. at the
companys Office, No. 80 Pine street.
The Assistant Treasurer reports to-day as fol.
lows
Total receipts. sio3 b17 40
payments. .'s''ss''s'ss'ssss.'ss...... VI 2s3 W
balance. 0s1 2o2 40
The receipts today include $4,000 from customs.
The exchanges at the bank Clearing House today
were sl2,367 ,6li 9s, and the balances paid we're
t740,256 AZ. The amount Of currency certificates
now held by the banks is reduced TO s24l2,0oO.
The annexed Is a comparative Statement, Of the
exports, exclusive of specie from New York to
foreign ports, for the week and since January L.
1856. 1857. 1883
Total for .he week ...sl,5s4,Ito lso 1iis,sg7
Previously reported. l,o3O,ss7 2s2b4ss lgOi03l
Since Jan 1......... g. Tl5,6E 3,213,72l s3Ls,72s
The Philadelphia Ledger of the 2Gth says:-
The third weekly report Of the average condition Of the
banks Of this city for the past week shows them 10 be
steadily improving The three items Of assets discounts
specie and due from other banks, show Increase Of
over s6s7 600 while the three items Of liabilities due 10
other banks deposits and circulation have increased only
about 600 showing increased strength over the
" 1872 600. hanks Arc