The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-07-26

he supply today was in excess of the demand.
still continue to quote call loans at S, and pa
per OF The highest grade 8, according to length.
The Sub Treasury business was small today; he
ecs5ps were sl65 1856, Of which sl44,oo0 were
rom customs; the gayments. si64, s7s; the ea- ,
sece this evening, Is ,340,l2s.
There WAS nothing done in foreign exchange To-
day. The Arabia sailed from Boston witho~s any
specie from here. The next steamer u The Van
derbilt, on Saturday, which will take out a large
shipment. The domestic exchanges do not very
much; the following table will show the price a
sight bills on New York a. the cities mentioned
New orseeoe' '''''''''''''''''',.'''5s prem'Hm-
0n,caso ,:;.'''''''-''''''''''''''.
fhlauelIn!as .'-s--.ss.... par
IN 1hnali.. .s.'....'.......-........ = premium.
The stock market continues buoyant and prices
advance, though most Of the leading operators are
believed 70 be enlisted on the bear side. Neither
political troubles ner rnfavorable uafi, reports
exercise the ieast influence on market values.
Rock Island rose in the face OF falling of in the
traffic Tor the third week OF Juy-tbe irst decline
this road has shown for many months. Gaiena ad-
yanced one per cent; Illinois Central was wanted
at IS and all the other Western shares were like
wise in request Ia Illinois Central there seems 20
be party engaged on the side OF he rice; he
friends OF the property talk Of much higher prices
New York Central, Harlem and Reading were
maintained; Hudson River was again per cent
higher. No stock on the list has risen so
steadily, or with such an appearance of
solidity, as this. The business in bonds
was very large to-day. All the Western
railway bonds IN request at full rates; there
was fair inquiry even for La Crosse land grants,
which advanced per cent and for the issues of the
Chicago and Northwestern. The bonds OF the
Michigan Southern continue 10 advance; the Sink
ing Funds are wanted at 81. Erie convertibles and
bonds OF 1876 selling at 80 cents on the dollar.
State stocks were inactive to-day. The pending
sectional contest embtered by threats of disunion
from the South, will have an unfavoraole influence
on Southern State stocks This afternoon the mar
ket was strong, and closed firm at the higbes.
prices Of the day:-virginia G's, 81 l; Missouri
6's, sli I; Canton Company, 49,! 20; Cnnber-
land Coal preferred, l43 Is; Pacific Mail,
s. Il New York Central Railroad, s34 a /; Ere,
22} {; Hudson River, 56k 81; Harlem, IL ::
do. preferred, 44A As; Reading 43l !; Michigan
Central, IS !; Michigan Southern and Northern
Indiana, lsa I; do. guaranteed, 80 !; Panama,
l26 !; Illinois Central IS, ]; Gslena and Chica-
go, 70E IL; Cleveland and Toledo, 3ss IS; Chi
cago and Rock Island, 753 :.
The attention of spectators has lately been di-
rected TO the securities Of the Harlem Railroad
Company, the preferred stock of which has risen
from 50 10 44l, or about % per cent, and the COM
mon stock from TO Ia, or nearly 100 per cent.
We regret TO state, however that the circumstances
of the company have not improved in proportion TO
The rise in the stock They arc on the contrary, in
rather condition than they were before.
Two years ago the company had floating debt Of
about 5000 600. This was funded by an issue of
third mortgage bonds at 80 cents on the dollar, the
sacrifice being justified by the board the ground
that the credit OF the company was so bad that it
cost them per cent a month TO carry their foat-
ing debt. II was hoped that after this the CON-
pany would be able TO keep out of debt.
so far from this being the case. we learn tina, the
company has az the present time, or viii have very
shortly, floating debt OF about halt million of
dollars, nearly half OF which is in suit Several
holders of unpaid coupons are pressing forward
their claims 20 judgment; and from all that we can
learn unless some means be provided for paying
them, matters wiz be brought TO a crisis within
ninety days or four months. We hear that new
issue Of sinking fund bonds is talked OF 10 pay of
This debt but If the company cannot pay the
interest ON Us present debt, who viii buy
new bonds, even az fifty cents on the dol
lar? This, however, Is the only resource which
the company has left. II valuable real estate
and valuable grants; but the m0Ttgages-on which
the road has never been able 10 earn enough 70
pay TIE lntcrest-cover everything. In view Of
these facts, some Of he oldest friends OF the pro-
oerty are looking forward 20 foreclosure and TO-
as inevitable az no distant period. Il
has long been evident 10 them that the stock both
common and preferred. has actually little, If any,
real value and they witness with regret specula-
tons on tho stock Exchange which may have the
effect OF deceiving innocent persons and tempting
them 10 lose money in purchases OF Harlem. The
business vi the road FOR series OF years has no.
improved last enough 20 Justify the directors in
expecting mat II can, Tor many years AZ all events
earn enough over and above IL working expenses
20 pay interest on lis present debt.
The following IS the Pttsburg bank statement
for the week preceding July 49,