The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-03-22
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Decrease. $4S6,S71 los 3OS

larger than expected The banks are probably acting
the theory that that the loan has been paid up
further disturbance in the money market need be appre
hended. WITH twenty-five millions OF specie they proba
bly, consider themselves strong enough TO afford all the
accommodation which the trade OF the city require
The Of the break up Of the Railroad Convention at
Buffalo has taken by surprise. Iattery, the
pact had worked we for OF the parties concerned
1t had been violated repeatedly by the Central; haa
been violated by the E'e 1t hurting both these
roads, by driving Traffic TO the Baltimore and Ohio ami
the Pennsylvania liues it nfc.irg injury
the city Of New York-so that one, perhaps, will re-
greet that is at ED The chief immediate cause
the break up appears be the resolution Of The Central
TO run swift trains. So FAR this mater is concerned
the Central will obtain public sympathy II may be very
well for railroads in Pennsylvania and Mary land to try
settle how slowly they run, and 10 make laws against
swift travel in this State habit Of consider
ing time rs Of come value and the public will araby
sido with any enterprise which cheapens the price or
acceeraes the rate Of travel Nor GO VIC believe tina,
any enterprise was ever hurt by meeting the public
wishes n these respects At any rate experiment
in which the Central deserves be sustained Whatever
may be the result Of the rupture to stockholders
interested the prospect Of cheap travel is favorable
travelling community, and will undoubtedly tend to help
the great work Of recovery which going throughout
the country.
The stock market greatly depressed this morning
Stocks opened at concession from Saturday, prices
declined from "a to II per cent below the opening rates.
AT the first symptoms Of the Decline the bears pressed
stock for sale with unusual freedom. Embodened by the
Of their late movements they operating
with remarkable courage young houses with moderate
capital not unirequentiy sellers Of thousand FL
teen hundred shares Of stock at single session Of the
Misunderstanding the gradual decline price to buy
NJ n 6pnrc ne OC mr. han
this ming New York Central, Michigan Gusran-
teed, Gaena and Rock Island which were sold down
spectvely to 1874 43a 67a and 5S Before the close Of
the session. however prices recovered and firm at
fraction above the highest price Of the day. At the
afternoon Board there very little business done but
the morning prices sustained, except in the
of GalenR, Rock Island and Toledo. These stocks
lower The earnings Of the Gaena for the
week in March only $4,000 fraction less than the
earnings of the same week last year. La Crosse Land
Grants were higher The bill extending the time for tho
construction Of the road from Madison to Portage has
passed the Wisconsin Assembly and may be considered
week. The market was steady at the close, the fol
lowing being tho last prices-Government SIS, "a,
1879 lo4; Tennessee SIS, 901s 81; Missouri 6s,
$50 n $685. Virginia 6's, 971s 07a4; Cumber
land, 20 2S1l New York Central, 1874 1875; Erie,
lo1s 1o,.; Harlem, 1l% IL; Hudson, BIN 3l1s;
Reading, 4ssS 4ssS; Michigan Central, 81 SIX Mich
gan Southern, 1875 1885, Southern preferred AS
4i2s Panama, lit l171s; Illinois Central 68al 81;
Galena, 67 67zs Toledo, "a 2i3s Rock Island, 67i
57T; Illinois Central per cent bonds 1875, 90 901&
Pacific Mail Steamship Company, 1914 1873.
Money very dull to day, without change IN quota
TONS The openings at bank rather larger than they
have been for some time back, but in the street money
drug There 10 demand whatever from the brokers'
Exchange Is quiet ct last quotations.
Tho following was to days business at the Sub Trea
sury:-
receptS SDuV,6l4
from CUSTOMS la20VO w
Total pay menus 4lb5SO 10
The exchanges at the Bank Clearing House this morning
were $2c, oil SO, and the balances 81 JAIL 81.
The annual meeting Of the stockholders of the Illinois
Central Railroad Company held at Chicago the 10th
inst. Messrs Jonathan stuTgcs, Joseph W. Asop and
Frederick c. Gebhard whose directors expired on
that day, reelected unanimously There re-
presented at the meeting 122 900 shares Of the stock On
motion of Mr. Richard Golden II was
Received That this meeting learns with satisfaction that
consider able saving has been introduced the expense
Of working the nc compared with previous years and
1t rcteIaes tho opinion expressed at for mer annual
observed by the drccors that all extensions guarantees
and outside OIL gagements should be avoided
That the meeting expresses its confidence in the inegri
ty and zeal Of the directors and is satisfied that the pro-
perty and resources Of the company, which parake
Of the character Of land than railroad company have
sustained permanent injury from the adverse
circumstances aud that, with wisdom in management
and patience tho part Of those interested the future
Of the undertaking will amply realize all the
sonablc expectations Of its proprietors.