The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-12-16

be either four or hve The prevailing impression among
the brokers appears 70 be that the directors have been
selling the stock short and that they have adopted this
method OF securing profit their operations The stock
which closed yesterday at so bid opened this morning
7eK, and sold down to Tx, closing at Tx bid The
transactions were very large Other descriptions sympa
thized, Galsna selling down to eeK, on sellers
option, and Rock Island to 63h. State stocks
were steady, with a moderate business. Until
the disappointment created by this Albany move
ment subsidss, will BIO vain TO look for an upward
movement IL stocks. The market closed heavily at the
following qutations-h Missouri 6's 8sH a Y; Canton,
16A III Cumberland Coal preferred, 12x Is; Pacific
Mail Steamship, rex II; New York Central Tx 49,
Erie, sH y; Hudson River, AK a AZ; Harlem, sx a
az do. preferred, 4A n; Reading, 40 a u; Michigan
Central, Ssa 1914; Michigan Southern and Northern
Indiana, 6% Z; do. guaranteed, Tx a Y; Panama,
1857 Ak Illinois Central, 5sh 59 Galena and Chicago
66h y; Cleveland and Toledo, 10 a II Chicago and
Rock Island, 633saH.
The unexpected declaration of a dividend by the New
York Central directors last evening has been the main
topic Of conversation in the street To- day. At P. NJ
yesterday stockholders who were present at the meeting
had no expectation Of anything at N. the Board Of
Directors, six weeks before the usual time declared
dividend Of three cent payable Goth OF February next
out Of the earnings Of the months ending that day.
The affair must have been arranged beforehand there
seems to hare been discussion among the drectors
deed the hesvy sales Of stock which made yesterday
and day bebre had already aroused suspicious There
but one opinion expressed to-day, among friends and
foes of the Central Company and that condemnation of
the whole proceeding. The usual dividend day only
have been anticipated, and the trap sprung in this
nef for OF two reasonseher the directors desire to
purchase stock cheapy they seek to meet the Legsa
ture with plea Of poverty when the tolls question
up. II the former the design it has been
cessful and about creditable as the late
notorious operation certain directors of the Pacific Mail
II the object Of the Central management was affect the
legislature the trick is too transparent The road has
already earned more than three per cent since last dv
dend day. and above interest," expenses and sinking
fund.- and two Of the six months out of whose earning the
February dividend to have yet TO eapse Unless
very unlikely accident should occur the Treasurer
Of the road will be well able to pay as the Goth
February Does Mr.. Corning expect He Legislature to
remain ignorant Of these facts We have never supposed
that any Legislature would throw obstacles in
the way of the increase of traffic in this State build
up Pennsylvania and Canadian railroads and canals at
our expense by laying tolls on our trunk railroads 1t
has always been imagined here that the idea Of the canal
men, and Of few rural republicans merely exert
well known hberaty, and that substantial party in
the Legislature seriously contemplated the imposition Of
fresh the growth of the internal of the
State Of New York. If, however, the Albany managers
Of the Central thought differently and really anticipated
serious attempt to toll the roads, cannot but think
that they have pursued the very plan best calculated
insure the catastrophe by resorng to trick which will
deceive one, and which will deprive any representa-
tons they may make Of the weight they might otherwise
have commanded
There is to be new issue Of Treasury notes the 9th
Mr. Cobb calls for proposals for 100000 by that day.
The idea probably to ascertain whether in the present
condition of the money market people will not take them
below 81 per cent.
Tie following the business Of the Sub Treasury TO-
day
Total receipts $l36 626 90
For customs. 1000 90
Payments. NEUTRALITY-SUSPICIOUS.. 262S3 q
California drafts. ACKNOWLEDGEMENTS. 10000 0C
Balance. g. 3,345 10