The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-03-17

which Il worthless while the Of the only valuable
securities Of the lave voice either for their
own protection or the Of tho company from ruin.
La Crosse bonds continue 10 dec ine there largo
sales 10 dsy at H. Pacific Nail quiet 1t advance
Of X per cent IT is generally supposed that the bears
arc very short Of this stock Most Of the Western stocks
were rather better. Rock Island was i higher Toledo
q. Southern guaranteed 70, &C., &C. Gaena did not
move; The earnings for the first week in March show
n falling of and this emboldens the bears and discou-
RACES the bulls is not kely however, that the spirit
OF speculation will await the actual return Of business up
on the Western roads, As as even the most san.
ruine persons grounds for Getting good crep.
stocks VIII be bought speculation New York Central
opened eighth lower TO day than 1t closed yesterday
The meeting of the Presidents takes place day At Ceve
land II is possible that some notice Of their proceedings
may be received by telegraph. 1t is generally expected
that the conference will end in total rupture between
the lines Friends of both Eieand Central pretend TO be-
Ieve that such rupture would be their advantage.
At the second board the business done was light and
prices were unchanged The market, at the close,
weak the last prices beng:-Mssouri 6's s5ii 81 Can
ton, 1893 2o Cumberland, 235s x; Pacific NAIL n q
i! New York Central, 7ok u; Erie, IL a q; Hudson,
3l1i 81; Harlem 1914 ~ Reading, 40 u; Michigan
Central 5l1S x; Michigan Southern, 1877 q: South
ern guaranteed 45% i65; Panama III 4: Illinois
Ceptral, 07}s q; Gaena, 6S5s e.; Toledo, ~ rs
Rock Island, 59A 3D.
The business Of the sub-Trcasury today was as fol-
lows
Total receipts. sl7e sos %
tor cnstons... boJnO w
- for payments 1ol o22 ~
tauofna oTaIts. OBSERVATION-DISCLOSURES. 4ocDo 0O
%
The exchanges at the Bank Clearing House this morning
$40 s1l ,s77 AZ, and the balances 81 6s4, 792
The net receipts for the PtsbYg, Fort Wayne and Chi
cago Railroad Company for the Weeks ending March and
IA, are az follows, wiz
allrch Us ~ NO
hroh 49,. I5,e5' 10
The earnings Of the Erie Railroad for the month Of
February, 1859, wcre- 1901 .593 IS
Earnings February, 1858 .............. 37S,0ss 81
peorease. S2o,loo "a
We read in the Boston Post Of 18TH
Tho money market TO be ms unlike the " course
Of true lovo" as possible-it " smooth as oil
In business matters, alaO everything is well and easy
and In fine, there is very little for financial observer
10 write about in this market Ths only item worth
ticing indeed is the continued decline of bank spe
ce which on Saturday but little than six millions
showing falling of Of nearly three and and half mil
lions from the maximum holding Of 1885, Money
tnues 10 be toeraby active Mt per though II
DC had on call at by certain favored people New York
run05 have recently been in less urgent demand in State
street, but the balance Is strongly against this city For
all We can perceive the adverse tide likely TO continue
for some time longer.
Meanwhile, if may believe the pcpers money is
much lower in New York than Baston and we marvel
that large borrowers do lot avail themselves OF Wall
street facilities and thereby IN scryDg themselves, fur
nisE state street with supply OF New York FUNDS.