The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-05-11
FINANCIAL AND COMMERC GAL
NONE Y M AR x e +,

FINANCIAL AND COMMERCIAL,
MONEY MARK EFT.
MONDAY, May 10--6P.M
The stock mayke. . iase more buoyant this
morning, with about the usual activity. Tbs European
news by the Vanderbilt, q; this port from Liverpool "a
financially and commercially favorable and it has had
corresponding effect here. The advance in copsols Of
"a per cent, and the hrnpeas or the cotton market
after the rapid re evidences OF returning confidence,
show tina. political disturbances longer appre
hended At the first board to day the buk OF the business
for cash Virginia State 6s advan,e led a per cent
Missouri state 6s, a California rs, bonds, -, DsIs
ware and Hudson, y; New York Central Railroad, Il;
Michigan Southern, old, l. do. PREFERRED u; Galena
and Chicago "a There was m,re activity IN Ne~
York Central than We have noticed for some days II
opened and closed steady at the Improvement
reported State stocks and nrs class railroad bonds we're
In demand 10 dry. Hudson River Raiiroad se;ond mort
gage bonds sold a. SO per cent CASH Harlem arst mort
gage at ST. and secoud mortgage at IN Missouri sxes
the extent q $lGO 600, sold At 81 s4h per cent
small LOT Of Ia Crosse land grant bonds soid st SIX Tho
Legislature Of Wisconsin will without doubt pass the bill
just introduced extend the for completing lick
between Madison ard Portage, which will secure the
tire land grant Panama opened and closed lrm this
morning at los per cent The passenger business ever
shs road very great The two steamers from tns port
Tor Aspinxsn the 5th inst carried Out nearly oas
thousand passengers The JAY dividend OF six cent
earned time since, and there yet lett t~o
months out OF the six The surplus the semi annual
receipts after paying the July dividend must be very
large. The Gaena aud Chicago Rarold may jus, slueazs
out tie regular five per cent dividend IN August Up 10
the first May had not earned con. of aad Tie
pany depend the months OF Nay, June Snd July for
net income Of about $500 pay dividend ami
the first Of August Holders OF Chicago and Rock Island
feel confident of dividend in october, but 1t very
doubtful The road has the beat six months In the year
to IL in but depends upon 80 many contingencies
that the probabilities very ruch against the pay
ment
At the second board the market without change.
The operations were upon limited scale, snd Principally
for cash The tendency FOR stocks down yard
without any actual de:lne being reported The buoyancy
Of the first board In most instances sustained.
The Assistant Treasurer reports 70 day ~ folloss-
Total receipts. oI 80
Iota paw mens..... s.....-..ss.s.s...s. 1879
Total baance....... ~
Tie receipts 10 day include s76 900 from cstoms Asum
considerably larger than usual.
The transactions a, tho Clearing House today
follows
Total exchanges. lis Ola -
TOTAL balances. lo4szIs -
The bids for the now issue Of Treasury
three and four times the amount required by the
Treasury Department The bids viii range that the
government will get the money for abou,t per cent
Al the annual election for officers Of the Board OF
Brokers held TO day Mr.. Henry G. seobins was elected
President 70 Oil the vacancy made by the resignation Of
N. J. II. Gourlie.
We notice by an advertisement under the financial head
that proposals will now be received by Mr. Murray
for joint bonds of Delaware and Raran Cana and
Camden and Amboy RaIroai and Transportation C1mpa
MOS, in ,uch may suit applicansihe only true
way TO issue loans that the hard listed mechanic may
buy bs bond rtt cost, without paying tribute 10
the hard souled monopois who blocks the market by
taklng the whole This " Of the most important
vel as most des,rsbe ioars that has appeared on this
market for many years Is issued by the two richest
companies in United Ststes-sch not only IN land,
and rails and dollars, but In enterprise, good
faith and respectAbuity. Their obligations have
never been dshOpored, principal nor interest
more than can b said o, any state IN This
Uni,n e1cep, perhaps Ne~ Englasd-vsstly more Than
be said Of the federal government. These securities
are perhaps, better than treasury po,es state bo,ds
FOR there Ia individuality in the responsibility whch
public stocrs do not enjoy. They represented By the
uonopcles OF railway and canal, independent
and useful highways Of trains spanning the entire state Of
Sew Jersey linking the Empire and Keystone sAis
The great southern mail and passenger route
The bank statement FOR last week compared with that Of
aggregates Of the leading departments -
Increase in loans and discounts .......... fs73toa
Increase IN specie. ..................... JsssSo
Increase In circuiaion ..,.....s',ss..... 5Ot1tz
Increase 10 depoeu "a, stuai oSa%
such general increase have reported for long
time. The movement IN al departments Is rapidly en-
iarsing and Me aggregses in instances are more
expanded than ever before. The specie reserve has
reached smount Of thirty Eve and half mil
lion Of dollars while the actual deposits are upwards Of
million In OF any previous statement In the alb
Of any activity in business, We fni the banks In
cressing their discount line upwards Of half million per
week. Al this rate by the time trade opens and becomes
brink, the bank loans will be up the highest aggregate
Of las, year The deposits have run up 10 total
before anticipated, and this large ands employ
ment, The Investments Of The day not pressing the
market, and ordinary advance prices for the specu
lsuve stocks would absorb bu, iae Of the idle CAPT
tai Of Wall street n buys another must sell,
30 that one man finds for his money In purchasing
stocks the other has the proceeds such sales IN hand,
and compelled 70 look about for way Of employing
H. In the absence Of business real estate improvements
speculation in staple articles sc, this accumulation Of
money must 20 on. Nothing but increase in valve
will absorb n.
The 81 Pasl tsnnesots) Aduertser says that pesrl.
tons have Just been completed for the construction Of
fifty miles Of the Minnesota and Pacisc Railroad 10 con-
mense Immediately and be completed before the is OF
December Fifteen hundred hands already engaged.
Opposite the terminus Of the Ia Crosse and lwausis
Railroad " the terminus Of the la Crescent road at The
town OF La Crescent Minnesota The loan OF Minnesota
to this and otner roads Ia construction early
Il day
rhe New Orleans Picdy,n> Of the ist inst says
Money rnsiters are unchanged There good deal Of
org paper Offering which lenders are unwilling 10 touch
under III " pe- cont Some passed this morning at
these rates, and lntle AZ 10