The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-03-07

better to make permanent investment in chan ca,.
foru;a state sevens at current c,.oo,a,,cns IN.
movement in Panama to-day VIZ inward. and sales
were made at lo7t per GEN. cash, This price brought
out very little stock. The arrangements nearly
completed for putting line Of first class propellers
on the Pacific, between Panama and San Francisco,
and on the Atlantic between New York and Aspn-
wall must throw vast traffic and travel over the
Panama railroad. That road is destined to be the
great highway between the two oceans, and must
ultimately be the points Of transhipment for the
commerce of EACH New York Central opened and
closed very firm this morning, with moderate trans
actions.
At the second board the market was decidedly
better, and advance was realized on NEARLY every
stock offered. A very large business was transacted
Cumberland Coal advanced per cent; Pacific
Steamship Company, S; Cary Improvement Com
pany, q; Canton Company, .; New York Central, 3;
Erie, 4; Hudson River Railroad 1; Michigan Cen
trail, 4; Michigan Southern preferred 1; Panama, 3;
Chicago and Rolk Island, I. The market was very
firm at the close, with strong upward tendency
The most important advance to-day was in the stock
of the Pacific Mail Steamship Company. 1t opened
this morning at IS and closed this afternoon ct 60
per cent
The steamship Arago, from this port for South
ampton and Havre to-day, carried out $l52,693 in
American gold The closing rates for sterling
(bankes) bills by this steamer were s. 81 per
cent premium.
The Assistant Treasurer reports today as fol
lows
total receipts. ss4ea, 90
Total payments. 80 iS4 20
Total balance 9so6s6 81
The receipts to-day include s43, 600 from customs.
The reported earnings of the Michigan Southern
Railroad Company for February, 1858, are SCI 900,
against 100000 for the same month last year-de-
crease, s2S ,O00
The operations of the Clearing House to-day were
as follows:-
Total exchanges. Ise ss3 81
Total balances. 97o,o59 "
The Metropolitan certificates held by the banks
are now reduced to 1914 900, being decrease Of
s444 900 during the week, and of 81 654 900 since
the lst of January
The steamship Europa at this port from Liverpool,
gives us seven days later news from Europe The
advices are full of interest Financially and com.
mercially they are of the highest importance and of
the most favorable character. The London money
market is reported most abundantly supplied with
capital In the discount market the rates rule at 2l
q per cent. The directors of the Bank of England
after long consultation concluded to make further
reduction in the rate of interest at present The
last Bank of England returns show an increase in
bullion of f756, 504, and an increase in unemployed
notes of 1896 $685. The advance in Consols has been
very rapid On Saturday, the 18th of February, the
quotations were got 9Gs; and on Friday, the 10th
of February, they ruled at 97} 97s per cent for
money, and 97A a 97S for account. This shows
an advance Of IL per cent. The Bank Of France
has reduced the rate of interest from AZ to
per cent. The position Of the market for
American securities is thus noticed by Messrs.
ID. Bell, Son Co.:-During the week there
has been very active demand for the various de-
scptions of American securities. State stocks have
been in much request, and transactions have taken
place at generally higher prices. Railroad bonds
and shares have also been in good demand, and our
quotations in most cases materially higher.
The circulars report an active demand for cotton
up q the close of the market, with an advance of
about one quarter of a penny per pound on all de-
scriptions OF American. Breadstufis continue dull
and depressed No new decline in prices has been
realized, but the markets were heavy and inactive.
correspondent sends the following calculation
relative to the future operations of the Michigan
Central Railroad Company, and states that the es-
Inmates are founded upon good data. We give it
without comment
MidncAS CENTRAL RAILROAD COMPANY.
Receipts for 1856 aud ls67..... .s3 $50, 900
tmaed receipts for Hess. 81, 200, 900
Less 81 per cent expenses ........ $50, 900
Total. 81 22o, 900
This estimate OF 2ense IL liberal, account
OF the general reduction Of expenses and
ing IN the management Of the road, indepen-
dent OF tie contract with the southern read
for the withdrawal OF extra trains, &c
Less interest on bonds, &C., at per cent $4,000
Ioth Sooo,VV
! Leaving Q per cent on 81, 900 600 stock.
The company payment Of interest on bonds negotiat
fhnnn nd