The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-06-16

fell on suddenly to 4sl in the morning, but reco-
vered as rapidly to 473-yesterdsys quotation.
Harlem preferred declined to 81, while the common
shares advanced to III. Panama sympathized
with the rest Of the market, declining at first board
to 1924 and recovering at the close TO 1873. Pacific
mail is alse per cent lower The recent rapid adj
vance in the shares OF the Delaware, Lackawanns
and Western Railroad Company was explained this
morning by the announcement from the company
That the privi'os. nf converting the income bonds
into stock ceased yesterday, and that the bonds
would be paid of on presentation, interest ceasing
to accrue after the LIST Of December next In or
der to provide means to pay these income bonds, of
which there are outstanding about 81 900 900, The
capital stock viii be increased one half the old
stockholders having the privilege Of subscribing to
the increased capital in the proportion of one share
OF new to two shares OF old stock. The company
has also declared dividend Of six per cent out Of
the profits Of the last six months, which will be
credited as an instament Of twelve per cent the
scrip to be issued to tho stockholders the remain
ing eighty eight per cent to be called for as the In
come bonds may be presented for redemption
The company had reserved the right Of redeeming
these income convertible bonds at any time, but it
was hardly expected that they would be called in
on SO short notice. The shares were quoted to
day ss a 100, dividend on.
The transactions in the State stocks to day were
confined exclusively 70 Tennessees, Of which some
$40 600 were sold ut %. The business in railroad
bonds was also moderate, and without important
change in prices. We notice sales Of Erie and Har
lem first mortgages at par.
There was decided Improvement in prices at
second board, and the market closed with an up
ward tendency. The following are the closing quo
tatsons:- Tennessee es, 92s 9S; Virginia 6s, 93a
q o.; Missouri 6s, s4A o 4; Canton, 2ll; Cum
berland Coal, 10 a 4; Pacific Mail, 80 1; New York
Central, sll Q {; Erie, III q; Hudson River, 47a q
as; Harlem, II a 81; do. preferred, 37a 1; Read
ing, 40i a 4; Michigan Central 49, az; Michi
gan Southern and Northern Indiana, lsl 1; do.
guaranteed, 2e4 q 4; Panama, la3 q 1; Illinois
Central, 6ll q 81; Galena and Chicago, 81! a /;
Cleveland and Toledo, 2sA .; Chicago and Rock
Island, $50 . SO; Chicago, Burlington and Quincy,
72a a 70; Illinois Cen1al7's. sl4 slA.
The earnings Of the Erie Railroad for the month
Of May 1850, were &4le $3.50 10; earnings May, 1852
$345 ,6l2 80; increase, ST. ,270 II.
The earnings Of the Marietta and Cincinnati Rail
road during the month Of May were about $32 900,
against $27 800 during the same month last year;
an increase of 700. The passenger traffic Of the
two months amounted to about $l2 600 each, the
increase this yer over last being principally in
ffeights. The truatees, having paid into the Ross
County Court the 5000 900 under the terms Of the
sale, and taken possession of the road, will proba
bly, call meeting Of the stockholders about the last
Of July or the LIST OF August, for the purpose OF
electipg board Of directors, and entering more
fully into thorough organization. In the mean
time the road will be operated by the trustees for
the benefit Of the purchasers whom they represent.
The Chicago Press Of Wednesday gives the fol-
lowing statement Of the movement Of produce at
that point
rne UceipW ana Bnipmenw Ersm uurmg
the pss, week. compared with the week Previous viii be