New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-03-22

"WEDNESDAY, March Up. NJ.
There was a large activity in the Stock market to-
day, and the reaction which commenced day or two
since continued under the sales of early buyers to
alze the profits Of the recent rise. The decline how
ever was not important and new buyers came forward
freely Between tue Boards quotations still
lower The bear jobbe showed more disposition to
put out options to-day than for time past while
the demand for buyers options was good, which is
generally considered TO be an indication that specula
ton is spreading outside the street. At the Second
Board the market was influenced by the heavness of
Central, which was damaged by the advices from AL
bapy that the Senate Toll bill had been rejected by the
House. AT the close, however, there was stronger
feeling come of the recent sellers coming in as buyers
and recovery of ! to y cent was established on
some descriptions. During the whole day Pacific Mail
has gone against the current of the market having
steadily advanced from 97l TO 80 bid under purchases
of 1860 shares This is partly occasioned by the un-
sxpectedly large result Of the rt trip under the new
arrapRemeht-the steamer of yesterday taking out
FER zoo passengers and the receipts exceeding
Ol 900 and partly the result of purchases to cover
short contracts AN estimate is circulating in the
street. based upon the business of the Company, before
the competition of Com. Vanderbilt was established,
by which the annual net earnings Of the Mail Company
are placed at 40 p cent Panama also firm, and
cosed at 1919 bid In the Western shares there wasa
downward tendency, with the exception OF Michigan
Central, which was well sustained. In the Bond
mark ct the butness was VOL distributed, and prices
generally sustained. Missouri 6s were sold TO the eX-
kent Of over 500 600 and fell of to 500, under ad
vices from ST. Lous Ohio Is sold at 10Y, and Cali
orniss at 49, Erie Conysribles sold at 81, which is
better Hannibal and 81. Joseph advanced to o., and
Uchigsn Central IS to 964, with sales of sll,OOO
fer tie close of business a the Second Board, there
was more disposition shown to buy the leading fan
c;ee and the market close very firm at the follow
ing quotations: Virginia 6s 80 a94 Missouri &c, $3.50
sO3; Canton Company, 19s a2ei Pacific Mail, 80
100; Erie Railroad, 9lal0i Hudson River Rail
road. $50 a3S2; Harlem Railroad, % a9sj Harlem
Preferred, 3ia asst; Reading Railroad, Hollis
Michigan Central Railroad ais an; Michigan South
ern and Northern Indiana Railroad, 81 S9i; do Guar
anteed, 2OI e2Ol; Panama Railroad, lS43 alS5; IL
Hnois Central Railroad 62062@i Galena and Chicago
Railroad 6lsS6lI; Cleveland and Toledo Railroad,
2la2lI, Chicago and Rock Island Railroad, 6j5
965a.
The market is unchanged for foreign bills. The
amount of transactions for this packet has been small
Sterling is IOSl a1Os;; Francs 5lS3 a5.l64.
FreiQhts-ro Liverpool, 300 bales Cotton at 5-l6d.
20 bales Sea Island at 7l6d. $50 ties. Lard, at 25S
200 boxes Bacon, at 25s. To Lonton, IOO tes Lard,
and % hhds. Ta1ow, at 9Os. To Glasgow, lOO bales
Cotton, ct Sled To Bremen, 100 bales Cotton, at 3D.
To Hamburg, per steamer, 200 bales Tobacco, at u 20
and 100 DO Cotton, at lc. The ship Island Home to
London on private terms. schooner Of lou tuns, TO
St. Domingo and back, for 81 $780, A vessel OF 5oo
tuns to south side Of Cuba, at ioc for Sugar and -
for Molasses, por. charges paid.
The business Of the Sub Treasury was; Receipts
$Isi 500 a. for Customs, $IIs,OoOi Payments $685.
5o7 4s; Balance, $S,06i,757 IS.
Alta meeting to-day of the stockholders Of the Del
Svvare Iackawanna ard Western Railroad Company,
held ct the Office Of the Company, the interest," owl
Sepd for the past three yeare which was made s'me
time aimee. was directed to be paid in stock at par
Tb fo,oUrine is the preamble and resolution intro
duced by Mr. Tlefton and adopted unanimously;
Bhyea. BY resolution adopted BY the stockholders Of the
Delaware Lscksyspna and Wesn o ao9sy sss the
p5t md Manager were prohibited from increasing the
R Gc s s SS% c5n 1871 :V %yoa oS
ourths Of stockholders being a[t bad and obtained Apa
,honzed 10 rsy rpon It's stock has not been pad LOT tne as.
bee the esns Io s1e SS road and in purchasing
,aipments theJeo and in qudatne liabilities Tor those p
New tbeSeore Resor Thet the President and Board Of
MsDssrs Of this Company DC and they arc hsty b
s"s tSs sfe bonn be fret day January 1851 to the first
day q JsISs' ssp "a 9 sodR heretofore ssed
- on and nfteT the 18th Of May 10 the holders Of me
,tock Is Il appears that they wore thereto
A hooks wore closed accordance with reeoluton OF tn
Pa m Msnnaers; provided hoseveT that az Sans o.
ls bsu full Of stock 70 cost 80 'iAH DC se''ou " ~
6y The psyrnent offs p cent thoreoi IN cash.
Debt Is one of the prominent evils IL the railway
system Of this country. 1t has subjected the COM
muuity to more swineliug, more hum'ug, and more
loss than anything else in the catalogue Oh fAiway
reverse 1t incidental to the progressive spirit OF tue
country and perhaps necessary evil, until we sttaiu
age aud substance but it has led TO troubles OF INC
Qravest character. The adoption Of measures 70 ie-
move this incubus the prosperity Of ways shouia
meet the hearty approval Of the community, ana III
this spirit we recognize tue wisdom Of the snking
fund tyttem, which feature Of tho tines Inc
Michigan Central Railroad Company has given good
example III this way, by providing literally from net
earnings the means which are 70 absorb and exngush
It's bonds II lie almost superhdous to saytbat Railway
Compsnies heretofore have scarcely considered the
necessity Of providing for payment OF bonds III
maturity. The controlling idea has been to get
money with bat little regard TO its return.
Ia the spirit Of REFORM however, the performance OF
promises now ssens 70 be part Of the programme,
and the Sinking Fund principle forms ton OF
every sound plsn from the liquidation Of debt. the
Gsna road paid up $1,000 of their bonds in 1888 on
th plan, and the Rock Island has recently devoIed
INHA