The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-09-10
AND COMMERCIAL.
FRIDAY, Sept. 9-6 p. NJ,

| FRIDAY, Sept. 9-6 P. NJ.
The reaction 50 long expected in the stock market al
length begins to be felt There were it is supposed moro
realzaons to-day by parties who have been buyers for
the RISE and prices quite maintained The de-
che is not yet heavy enough to justify especial remark
and there are many orders buy in the market at
points mere fraction below those now ruling that is
doubtful whether any serious fall take place As fast
as the amount of stock in the street is increased by the
sales of parties who bought lower points it is on the
other hand diminished by the purchases OF new buyers
The movement Of grain from the West shows clearly
enough that the great which underes the present
movement is not going to operate for some time to
come on the contrary, will tell with increasing force as
The late autumn and winter months approach At the
same ume there is no doubt but moderate reaction
would mpart strength to the market both by bringing in
new buyers and increasing the short sales hence it
much desired by operators.
There was large business in Central to-day at a de.
cline of 4 u from yesterdays prices The bulk of the
sales this morning at 7S%; between the boards
ruled At 7s}4 and closed in the afternoon at 1872 bid
There was quite disposition sell it short Operators
talk Of Is as good point which to renew their pur-
chases. The Western stocks all declined u to per
cent Guaranteed sold at "a in the morning and closed at
24. bid The street oracles talk Of % the point at
which this property will shortly rule and promise them
cc Mail and Panama both higher the latter sold at
u.s. We understand that p anticipation qf the com
Mehcemen OF business by the North Atlantic Steamship
company, an offer was made to Commodore Vanderbilt
aay Or Two since by the three companies-to wit the
North Atlantic, the Panama Railroad Company and the
Pacific Mai-of IL per cent net of the gross receipts
Oh the three companies from their through bust
ness on condition Of the withdrawal Of the Vanderbilt
line The three companies are said to have offered In
guarantee that said per cenage would amount to at least
S0OOoOO year We understand that the offer was de-.
cned by the Commodore who objects TO lay UP his boats
again. and that from present appearances the compet
ton is likely to continue Some apprehensons are felt by
stockholders in the Panama Railroad Company with re.
gard to the participation by their directors in the fight be-
tween the Pacific Mail and Mr.. Vanderbilt It is said that
the directors Of the Panama Railroad being Interested in
the North Atlantic line not likely play fair between
that concern and the Vanderbilt line in fact we hear
ruor that the passengers by the Vanderbilt line on the
last trip, we're delayed much longer the Ishmus
the passengers by the Pacific Mail line. easy to see
mat THIS policy is calculated to tempt Mr. Vanderbilt TO
open another route to the Pacific If he can
shoua he find it impossible TO obtain fair
pay from the directors Of the Panama road
we should not be surprised hear Of his reopcning the
Nicaragua route, which would prove OF course for.
miaape compettor TO the railway. The rumors which
nave optancd currency in journals with regard 10
DIS ntentohs nave probably arisen from this prospect
Beyond the fact that he has placed his line n the service
Of the government in the johnson contract soul5
not be carried out, not aware that those rumors
have any other basis than the above state stocks were
generally lower to-day, from sympathy with the general
market. In railway bonds there very little done.
and prices unchanged In the afternoon the mar
ket rather better and stocks closed steady at the
following quotations SAX II Canton 10
u; Cumberland, 14,s 16; Pacific Mail, s4a 4; New
York Central, 79,s n; Erie, ~ S; Hudson River,
aess 81; Harlem lo>4 u; do. preferred, s7,4 4;
Reading ASK X; Michigan Central 4e% A.; Michigan
Southern, Ga n; Michigan Southern guaranteed, N1a
n; Panama, 1ls u Illinois Central, eS co. Galcna
and Chicago, 73x Il Cleveland and Toledo, 2s4 20;
Chicago and Rock Island, 694ax.
The Atlantic Fire Insurance Company Of Brooklyn has