The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-07-14
FINANCIAL AND COMMERCIAL.


--~>~~~-~~-~~.
WEDNESDAY, July 1a-8P.M.
Money Ia working decidedly easier. II ID offered 70 the
brok ers at five per cent Al the discount ces we hear
Of DO naDssctous below last quotations., t. g., for
prime short acceptance for FIRST ciaes long paper and
10 for names less generally Known But the present
ease should last much longer evident that the search
y of paper will lead to more composition among lenders
and rates win decline The arrival OF the California re-
papce last evening again raises bank reserve OF
specie above twenty four millions while the moderate de-
nspd for exchange does pressse large shipments OF
specie at the present time.
At the stock Exchange, the market opened with fair
steady feeling bat vas sharply attacked by the operators
for fall aud prices receded somewhat has been the
for time speculation in stocks is counoed 10
the members the board the obbers; tue pub
lie have had such severe lessons Of late that they
continue to hold aloof. Az the crop 10 har-
vested and railway earnings increase, viii be safe 10
COX for business among commission houses and bet
Ter prices for railway securities The late report Of the
Michigan Central bore it's fruits to day in an order to pur
chase eco shares Of the stock at the market price, H.
that report aleges-thst road could afford to 10
$50 month less than last year. and yet TO make a.
much net profit did in ls57s the condition Of the
Western railways far from being desperate as rs
generally imagined The decline in the earnings Of the
Michigan Southern for the frat six months Of 1859 only
abou. $l60 coo; their economies have been consider
able as those of the Central they must have done much
better than last year. The same remark will apply TO the
Rock Eiand the Gaiena, and other Wes'ern roads, II s
noticeable aso that roads the seaboArd begin
nipg TO do better 1853 The Hudson River has for
acme months increased from SO eco to $50 GOO month
The Harlem is taking money than last year. The Gen.
trsl Railroad Of New Jersey took in June $780, against
S3 june 1883 showing increase Of per cent The
increasing as compared with last year. The New York
Central received in June s44ol2e against s4s2 95 in
June 1883 showing increase Of 1891, notwnsand.
the low fares which ruled during the early part Of the
month These roads the s TO feel the effects OF the
crisis, and they the first to recover New York
Central opened This morning at 74, declined 70 a. and
cosed at TAX 3D. The Western roads, with the exception
of Michigan Central were generally fraction lower q,
the mornirg board FOr State stocks and bonds the de-
mand is active and prices well sustained In the AZ
ternoon the business done moderate, and stocks
closed weak Mt the following quo!atoDs:-
Aesours, $50 q q; Canton, IsA u 10; Cumberland
Coal, preferred, II 49, Pacific Mall Steamship, So III
New York Central, '3zs "a, Erie, on Z; Hudson River,
52% SO; Harkm, ~ ~; do preferred, SO "a; Read
Ing, 42h g; Michigan Central, AK AZ; Michigan
Southern and Northern lndans,sa X; do. guaranteed
25T n; Panama, NIX y; Illinois Central, 63X q
% u; Chicago aud Rock Island, 81 a "a.
The business Of the Sub Treasury day WAS a. fol-
lewis
Total receipts. $3.50, 31o 50
-for CUSTOMS. ZsOO0O w
Total pay merits. ACKNOWLEDGEMENTS. 3a6,b95 %
ioSi 4oozoVo ~
The exchanges Of the Bank Clearing House this morning
were SIT 900 ISL 92 ard the balances se65, 81
The following dividends have been declared:rhe New
Jereey Reiroad and Transportation Company seminar
nual dividend of I've per cent payable Auguss1. rhe
transfer books will be closed from the 18th be ID
Of August After providing FOR this dividend larger
plus left than at any other Ike period The Brevoor n-
surance Company alemannua dividend OF per ceat,
payable demand The Southern Back OF New Ore ans
lem annual dividend OF four per ceOt, pay able the
New York stockholders at the Chemical Bank 18TH
inst
The milwaukee and Mississippi Railroad has addressed
ccular TO the holders of the first mortgage eight per
sinking fund bonds asking their consent to posponement
of the payment OF the sinking fund until after 1861,
The earnings Of the Erie Railroad, for the month o.
ainings, June, 1885,. 3ss37S 90
DecreSse'.. .Soo,IZl IL
BY the arrival Of the Etaa have London advces 10
Is. inst
Messrs D. Bell, Son Co., in reference to American
stocks and Shares remark that s'no change Of mpor
lance has occurred in the market for American securi
tiee"
The London Standard notices gales the 30th Of OF
Illinois Central shares at SO and 39A discount and New