The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-05-30
FINANCIAL AND CONNER GAL


Quotations for stocks current 10 day show further de-
cline With a,tvy in 81 the leading spsculatives
lower prices ruled for nearly every stock the list At
the first board Erie Railroad fell of per cent; Hudson
River, N Michigan Cestrsl, 1; Michigan Southern, old,
III DO preferred, l. eveland and Toledo, 2; Chicago
and Rock Island VI Milwaukee and Mississippi, Y North
Carolina State advanced per cent Cumberland,
u. State stocks generally well sustained through
ont FRS, railroad bonds sold TO moderate extent
full prices. The decne WAS confined almost entirely
70 fancy railroad socs and Of that class the lowest
priced ones suffered the most. Prices rapidly
ming down TO a level where reaction "a inevitable,
particularly n the better class Of securities. Tho
sudden ard extreme dips in the market are no
thing new, but al times are necessary to restore
healthy tone 70 oper atoms, and give better mar
gin for speculation There points thai will attract
class Of buyers totally different from that usually found
in Market and when reach them the rebound will
leave the dlatory completely out Of sight There
very stocks the list but that have intrinsic
value and would not be prudent TO follow the produc
tive securities down much below current quotations. Al
the board the market shade two better,
and unusually active at tho improvement Hudsoa River
Railroad advanced q per cent; New York Central q
Michigan Southern, old, III Galens and Chicago n; Ceve
land and Toledo, l. Chicago and Rock Island, u. Erie
fraction lower II is rumored that the repo. TO be
presented At the meeting on Thursday evening next will
give q very gloomy account Of the conpanys finances,
and show the utterly hopeless condition Of the stockhod
ers Ia Crosse land grant bonds opened and closed ~
both boards at 331l per cent.
The transactions al the Clearing House 70 day were
follows
Total exchar gee. WA ~
TOTAL Dalances.. oooooo 20
The samship Mosss at this port from Aspinw ALL
brings tao weeks later dates from San Frascsco and
sib7oco0 in California gold The general Ia no. I'M.
port.nI
The whole estate ef the Breckenridge Coh Company,
near Cloverpo KY to be sold at auction the 2sth
Of June 70 pay mortgage Of $3.50 900. This the Mem
phis Bulletin remarks unfortunate close the Affairs
Of the company whose stock and property valued
few years ago at 81 600 900 or 100000
The Philadelphia Ledger Of the 9Th inst says
Trouble has commenced In reference 10 the sale Of
Pennsy lvaU State canals by the Sunbury and Erie Rail
road Company On Tuesday night last, rs understood
cation ~ ssn,emsn some ~ horn resi- 70 ON the line
the canal and others In this city and at New York for
million and hall Of dollars the pay ment being secured
informed, by q lien Of the works themselves
THIS contested by another association OF capita ISIS
who have been treaty for the same works, and
allese that they offered the Supbury and Ere raroa
Company half million than tie sur- for h,on iSsv
have been sod-namtly, two millions OF de,srs one N
bred thousand dollars IN eass one hr,dred ,hoosand dol
lars anpua for nye y8ars, and ourleen HUNDRED thou
sASd dollars secured by ie On line OF the work.
TIE OF this dsappoip by the million party
has beer applicat1 the FOR
shnnirp any turhg action In the premises Until the
ties he heard open court the merits OF the
plant On Ore Application OF VIM N Meredith and 81
george Tucker Campbell, Esqs, JUDGES shsrswcod and
Hare grs1,ed the sp caou and fxed the 1th Of Juae
re&ifof The Argamen, The validity Of the alleged sa
The result the election for directors OF the Ia Crosse
and Milwaukee road has already been given. Prior 6,
the election a Getting was held Mwaukis 10
proper Of Western stockholders four being
claimed out OF nine. While the subject was under oons
dorstion, says the Sen,inel,
Byron Khbourn, ESQ, was called upon, and he al
dresseo the meeting briefly upon the CONDITION and pros
poets Of the la Crosse road and expressed bs
renee with the spirit Of the movement lie believed thai
Western stockholders entitled 70 II least -four
members In the Board of Directors aud he hoped they
| would fprist upon having that number. A number 81
Others addressed the meeting and all appeared unani
nous cCndemnpg the action OF the Eastern men, In
dsVorng 70 monopore The entire control o. the Board
| Directors.
TIE following names were proposed
VIM. = ia, jbs, Of Milwaukee; Bsnismin Furguson, oi
Dodge county; Andrew Dunn, Of Columbia county, and
Joseph Eutrl, Of juneau county Although these pane'
were ubsnmousy approved by the meeting, not one %
them received single vote at the election The people
road will be bes, aged Tor the interests OF tue sat
by residents, having no connection whatever viii
the frauds which have made the State and ths company
| alike notorious.
Parliamentary paper has just been Issued which con
tars come interesting particulars hs smouus OF capita
ard interest subscribed and paid account Of the rail
ways in India. The total amount Of capital amounts y
| s2s, 3ii zoo, divided as follows;-