The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-06-17
2 FINANCIAL AND CONNER GAL

THURSDAY, June l6--6 p. H.
The growing of the money market and the favora
bic reports from Europe beginning tell the stock
market There to day improved demand for State
stocks several esteemed descriptions OF bonds Pana
railroad stock. Several orders for. State securities
were filed at an advance upon yesterdays prices, and
more could have been sold at the highest quotations 1t
seems likely that the obbers who Fold Mssouris short
with such pertipacty few weeks sgo going fnd
costly experiment They have contracted to deliver
several hundred of these bonds between 50 and 49, the
price oday was S6H They have been equally unfortu-
nate with Panama Shortly after Mr., Li.te's failure,
Panama sold short with great freedom by the leading
bears at ll3 u.s. Lattery few purchases have been
made Tor investment; and the price to day 1921
ViTginas and Tennessees likewise stronger and "a
good demand. New York Central was fraction higher
than yesterday. opened at 731 advanced TO 73si sold
in the afternoon at 73 and closed that bid We have
reason to believe that there truth the stories
which current in reference proposed reduction Of
the August dividend shoud the autumn burness pro.
mise well, we are given to understand that the Central
viii pay the usual four cent at the usual time. There
ere rge short contracts In this stock mostly below ~
With the Western shares the obbsrs success
full Galepa and Rock Island were pretty steady with
moderate business; but Toledo was fraction lower ana
the Michigan shares underwent decided decline. Tue
cause OF the fall in the latter s simply the large offerings
OF stock on seers options, by speculative obbes Both
the Michigan roads, ike all tue other Western lines are
doing very light business; but the prospect good fo
large fall traffic, and both roads 10 oxcellea.
order We are informed that the Michigan Southern
managers have go curtaled expenses that the net
profits are as large this spring, notwi hstanding
the diminished business, they were last. In
the mean,ime however the obbers the board hammer
away at the stock and in the absence of resistance from
IT'D frends knock where they please. Reading Harlem
and hudson River were steady today The COL so;ks
are steady, with the exception of Cumberland. which
sold at 1884, equal to 1l2 the late assessment of &c
cordng to the statement lately made by the President
the company has debt has adequate working cap
tall and will earn this year. and above expenses and
interest, about sl25 c0cwhich about Is per cent on
the market value OF the stock Bank shares are seady
In the afternoon the market quiet and stocks closed
dull at the following quotations Missouris S625 Il
Canton, ls1l le1l Cumberland Coal, 161S II; Pacific
Nail, IS "a New York Central, T31l q; Erie, eS d
"a Hudson River, 3l14 a Harlem, l014 IL; Reading
4oa IS Michigan Central 4014 x; Michigan Southern
81 %; 90. guaranteed, 20 "a Panama 122X l23;
Illinois Central, SSH 49, Galepa and Chicago, 64l4 ~
Cleveland and Toledo, 1854 ~ Chicago and Rock Island
59h "A.
The money market grows easier We hear Of lransac
tons in paper at ca which week ago could no. have
peen cold Under There is less hurry among discount
brokers, and more money seeking Investment in paper
The prompt in which sugar paper has been met
and the late recovery in cotton have impaired steadness
70 the market; the banks however, far az we hear
are not increasing their line Nothing would tend TO
strengthen public confidence much as permanent re-
ducton oil the bank discounts to the neighborhood of
$lZo'oooooo. On CALL money is offered at 5 per cent
those who go in search Of loans, however paw 5 G.
Exchange on Europe dull without change of rates We
quote, the top rate 1los for sight and os5 for sixty
day sterling bills for francs, 5s for sight and $40 for
sixty days Many drawers will sell below these rates
The actual of specie to be Gent out on Saturday
cannot be ascertained I'LL TO morrow; presume how
ever that viii reach s75oooO of which the agen. OF the
Rothschilds sbiDs $500, COO.
The business of the Sub Treasury today as FOL
lc,vs:--
........s.,....... btioia@L 70
-foF c1htons ACKNOWLEDGEMENTS. 109,CO1 %
&c, jay ien'1'''' .''..........s......... 4t9JD ~
"a'Suce'. 1853 007 70
me exchanges ~ the Bsnk Clearing Houge to day were
SHlls 6i2, Gd the balances 81 ,2es 500