The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-05-18
FINANCIAL AND COMMERCIAL.

The market has been somewhat unsettled day in con
sequence Of the non arrival Of the commercial and hnau
ca intelligence per Vgo The advanced rates for money
have been better sustained bat there continues be but
moderate inquiry The amount Of paper Offering is not
sufficient to maintain an active market Exchange for the
Boston steamer is steady at yesterdays rates leading
drawer asking 1l0h and other bankers ranging from
llo4 u for sixty day bills, and llOs z for sight
Drawers anxiousy waiting to hear the ultimate decision
of the insurance companies with regard insurance on
bullion Some expect that the rates will be increased 80
to justify rise in exchange to the neighborhood of Ill
for sixty day sterling bills. The correspondent of the
Rohschlds ships some bars to Europe by the Boston
steamer of to morrow-about $550,0 1t is generally
supposed that his house shipping specie for the Austrian
or French government. During the Crimean war the
Rothschlds supplied the French government with specie
from this country. The official relations which not long
snce existed between their New York correspondent ami
the of Austria lead to surises tina. he
acting behalf Of the Austrian Treasury. Besides his
shipment, sl5o,oo0 will go from Boston of
other New York houses
The news Of the day the stock market Isl that Messrs
Corning and Richmond the controlling directors of the
New York Central Road refuse to concur in the under
standing lately had between their representatives and the
presidents Of the Erie and Southern roads The New York
Central refuses, decidedly and definitely TO allow the
Southern roads to carry freight any cheaper than Itself to
common points West 1t denies that the difference
of distance between Philadelphia and Chicago and
New York and Chicago should cause q difference in
the rate Of freight. If Philadelphia aud Baltimore
1t argues, are nearer in miles than New York
to certain points West, the New York Central
has in the river and lake navigation and the easy grades
it's line, peculiar advantages which couuterbaance
this drawback. Mr. Corning and Mr. Richmond hold that
if they concede the point is los, to them forever
and therefore they adhere tho policy already announced
by them, and declare thatso long as navigation the
river and lakes is open-they will carry freight cheap
ly from New York to common points West The South
ern lines can carry from Philadelphia and Baltimore
We presume that this for the present. terminates the ne
collation. The presidents of the Southern roads declared
when they here, that their position could
hold Office week he agreed to discriminate against their
own cties-which would be the practical effect of a con.
currence in the views Of the Central The public may
therefore make up their minds 10 the railroad war
prosecuted with renewed vgor During the month of
April competition cost the four roads about 800 oOo we
presume that long the lasts each road
will lose about sl25 600 a month, or 81, 500 600
year. From the temper Of the parties infer, how.
ever that the contest will be persevered in till the
other be exhausted. Stockholders know what they
have to expect.
New York Central opened this morning at 72%, but i'm
proved before the close of the session to 1917 After tue
board, some heavy bear sales made the strength
Of the ratification Of the compact and the price dc
cned to 72'<. In the afternoon it done 72 aad
closed at 72 bid Rock Island continues to attract great
attention. Several brokers have been buying small lots
lately for persons who acquainted with the condition
Of the road and the stock becoming scarce daily
1t opened this morning &c. advance of 4 yester
days closing price, rose to Co. at which price mos. Of
the stock for delivery today was purchased, anu
closed in the afternoon at 60 bid The Michigan
shares were all better the Michigan Soulhera
continues to be freely sold by the jobbers. Gaena
advanced to 64X closing at that bid The earnings Of
this road thus far for May show heavy decline
pared With last May they will probably increase toward
the end of the month Last May was very heavy
month. Toledo again better today the closing price
was 271s bid There saes Of Pacific Nail at tbs
morning board. In the afternoon it quoted 1917 a.
ex dividend The policy of declaring large dvidend
ten per cent in view Of the pending opposition ques-
toned by many come Affect to believe however, tina,
gotiatons with Vanderbilt will be renewed ere long, aud
his boats purchased At the present time the attempt to
negotiate has been abandoned. Panama was pretty
steady In State stocks and bonds fair business wa,
done at previous prices In the afternoon prices were
steady and the business done oderae. The follows
were the closing Observation-Disclosures OIL az Missoi.
ris, s414 AZ; vrginas, 95al 81; Cumberland Coll,
1ek New ork Central, Tx 70; EIie III; Harlem,
Ao& IL Huo son. 81 ~; Reading, 4636 1a aichi.
gan Central, 43 a q; Michigan Southern, 9% To- do.
preferred, 321< u; Panama, lis II Illinois Central,
56K 81; Galena "a x; Cleveland and Toledo, o.
u; Rock Island, SO q Illinois Central bonds so ~
Pacific Mail, 1871 IA, ex dividend.
The business Of the Sub Treasury today az fol-
lows
Total receipts sIO9, ass 90
pfor customs iVso oo 90
Ia $50 81
D,t
The exchanges at the Bank Clearing House this morning
were s4, ,256 81, and the balances zol 35
The Arizona arrived at New Orleans from Rio Grauje
on the 7th nst, reported having S735 900 IN specie
On board.
The Cumberland Civhian Of May IL says:-we learn
from good authority that the canal will be in navgable
order again By Tuesday or Wednesday, next