The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-03-08


The London Times Of Friday says
IN American securities reduction of 81 occurred the
shares OF the New York Central, and quotes sales -
Illinois fieelends, slX ex. C do. shares, 30 dis New
York and Elk 81 mortgage per cent 1883, 6SH 6S.
As the month advances the reports from the West tend
to confirm the viewE entertained by the leading members
Of the Stock Exchange with regard the gradual recovery
that section Of country and the best railroads which
traverse It. We have seen today large number of
letters from almost every Western city of note Of
them hopeful than others, bat al, without ex
ceptop state that the lowest points of depression have
touched and that recovery win be the
the day. There is throughout the West large quantity
Of grain and our TO for ward the recent advance
en- breadsans (Which is equal to 81 90 the barrel OF -four
a. this pen is naturally calculated to induce holders
send their stocks on while, the otnar nad
ses OF the Western people will compel the transmission
westward of certain quantity of goods aud merchandise
Jhe effect OF these will be more plainly seen in
March and April than it in February; but even the
for that month show traces of the growing i'm.
provement The Michigan Southern road earned altogether
nearly $4,000 more in February, 1852 than in February
1855 which considered as an indication Of the earnings
Ior the remainder OF the spring may probably be regard
ed as settling the question that dividend-probsby
part cash and part scrp-wi be paid the guaranteed
stock this summer. The Michigan Central has not re-
ccved any complete account Of its February earnings
the company, published time since, and conse.
aueny that the three per cent dividend July Ger.
tain The Rock Island and Gaena viii show decrease in
February. The former road viii probably show about
s6250o against s67 COO year; but 10 few days it will
begin TO feel the effect Of the Pixies Peak travel and 10
Esrch, April and May ts earnings will be large. The Ga
lena earned 50 1873 against s74 ls9 last February The
Toledo and Wabash earned 81 100 in February
1859, than in February, 1885, they write from the com
pany Office in the West that they expect IN March and
April to earn $40 oOo against SIS 600 January and
February This viii amply provide for the interest due
the bends. The Milwaukee and Mississippi earned
9os against $50 500 in February 1885, The earnings
The Burlington and Quincy, the Alton aid St. Louis and
The Fort Wayne and Chicago lines, are likewise
sad TO show increase last year Altogether
the general picture OF improvement--au
improvement sadly needed after eighteen months of pros
kaon, but which, II Providence should grant boun.
teous crop this fall would in the course OF few months
put the West in the position in which was in the most
prosperous times Of 1856 and 1857
Stocks this morning were dull, and in some instances
concessions made by holders 10 effect sales The
parties who moving for rise act with the utmost cir
cumspecton availing themselves of every decline in
prices TO make moderate purchases never attempting
TO sway TO control the course OF the market Their
argument appears TO be that IL stocks will rse on
their unaded merits ii useless, aud must eventually
be runous to endoavor to force them up By clique opera
tions. Thus far they have obtained but very little aid
from outside the earnings of the roads improve,
may be expected that the outside buyers will increase in
state stocks were rather better this morning
and there at time lively inquiry for the better
class Of bonds and bank stocks reaching the railroad
list however the want Of buyers was severely felt New
York Central fell of about q "a per cent in spite Of
scarcity Of cash stock. Erie lower, and Hudson
River was pressed FOR sale at decline Of 4 per cent II
is understood that disagreement has taken place be.
tween tho road and the owners OF the Hudson boats;
tne saes are aserbed TO parties acquainted with tho
merits Of the controversy. Reading dropped Off Y per
cent for want OF orders from outside Among the West
stocks the most active Michigan Southern which
after falling to 49, recovered 70 49, and was in demand
at that figure. The other Western stocksGalena Rock
Island, Toledo, &c-were all fraction lower ami dull
Pacific Mail was =, per cent lower nothing has trans PRED
with regard TO the Vanderbilt negotiation the street ia
fun Of rumors usual. There was decline OF
one per cent this morning in la Crosse bonds
In the afternoon stocks dull and neglected
though without material change in prices. After the
second board prices steadcd somewhat, the following
being the last quotations Missouris s5% III Canton
:" "a Cumberland, 231k 241S; Pacific Mail, 75 n;
Now iork central, so% 4; Erie, 1o7t 81; Hudson
hVer' Ok azi HARLEM 1874 q; Realizing, 4sx a y;
Michigan Central, 52j4 Is Michigan Southern 1877
u; Southern guaranteed 4ska X; Panama, l171< x;
Illinois Central, 90 q Galya, 7o1 X; Cleveland and
Toledo, 2Sk "a; Rock Island, eisfa 4. MIwanIie and
Nssissppi, IL "a; la Crotse and Milwaukee x a "
Money is unchanged in value We need Do NO moro
than refer 10 last quotations Exchange on Fnra S
held very firmly by bankers at 1899 ITO for ssrir
bills, with few transacons at the higher figures ana
BLK 13Z for francs. The mail on wedne sdav Ssoro
Boston will not be heavy one
The business of the subTreasury to day was az fol
Bows.-
Total receipts Silq7 29 d
For customs. 10000 90
Total pay merits. 2l4658 IS
JOtki paance. ,J5l VuO %
The exchanges at the Bank Clearing House to-day were
~, 2Ss, OBJ o., ard the balances 81 ,227 SEQ 81.