The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-06-21
? FINANCIAL AND COMMERCIAL.
WEDNESDAY. June 2O-6P. ".


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w,,DHEsDAy, June 100 P. VI.
Tie steamship Africa sailed to-day for Liverpool,
with only SOL 600 in specie freight-the amount
mentioned in this mornings HERALD. Exchange
must advance considerably before shippers gene
rally can arcrd 10 ship by the Cunard line. The
ina1ket this morning looked rrm there wasnotbng
Going.
We hear OF rather more activity in ncney IN
certain quarters, but no change can be fairly re-
ported in quotations.. We quote short pa
per, strictly first class, A So long
paper, same grade, 5 s; call losss, A a
5; second class paper,7 a a 10 per cent The
amount Of money seeking employment IS conside
rably in excess Of the investments offering. To-day
the Sub Treasury gained mousy; the receipts were
&2j5 692, the payments sia5 ,24G, asd the balssce
this evening - 1878 ,e43.
There was an improved business this morning on
the Stock Exchange; the inquiry for mostfa the
Western shares was animated. and in most cases
an advance was realized. The iavorites sfshe day
were Chicago, Burlington ard Quincy, Cleveland
and Tcledo, Gaena, Rock Island and the Michigan
shares. The Burlington shares adsanccd from 50
yesterday 70 7ll thssmornirg. This road has done an
excellent business thus far this year, chiefly in
qgenee OF last years. fine corn crop III Southern ILL.,
nos, and the emgrationto Pixies Peek; next year it
will not, in all probability, do well. The crop
in Southern illinois ia, it is feared rreparaby in
jured by the drought; and next year the Pixies
Peakers-if there be any-wih take the Missouri
and Mississippi road in prefercfre 10 the Hannibal
and ST, Joseph, as shorter end less expensive.
Under any circumstances, speculation in Burling-
ton stock ~ hazardous. Tie Galena shares ad-
vanced per cent, Toledo Z, Rock Island 3, Michi-
gan guaranteed 4, Michigan Central u. People
seem te be buying on the strength Of the crop
prospects this fall, and certainly unless some
accident should happen, the prospect is fair.
We know that the Southern wheat crops are short,
and that The prospect in Europe Is not satisfactory
to the farmers; we know also that the wheat crop
OF the Northwest thus far promises excellent
Still it will be the end of August before the roads
derive any benefit from the harvest, and mean
while, should not be surprised 10 see the bust
ness of many leading roads-as for instance the
Galena-fall off considerably. Both Ere and New
York Central were higher to-day. Both roads are
doing q fine and an increasing business. The de-
maDd for State stocks and bonds continues
lively, and prices are fully sustained.
This afternoon the market was not very
active; but after the board it closed
strong at the following quotations:-V Virginia 6s,
93l "a; Missouri 6's, SIS a I; Canton, 20l; Cum
befland Coal, Is a J; Pacific Mail, 80 !; New
York Central So /; Erie, Isl a d Hudson River,
47s a ~; Harlem, Iii II; Harlem preferred, 80 a
); Reading, io9 &; Michigan Central, 494 &:
Michigan southern and Northern Indiana, 13i 4;
Michigan Southern and Northern Indian guaran.
teed, 27la4; Panama, 1924 I; Illinois Central,
625 a 7; Galena and Chicago, 62 a 4; Cleveland and
Toledo, 800 &; Chicago and Rock Island, 90 a 4;
Chicago, Burlington and Quincy, ~ a g.; Illinois
Central rs, 81 a l.
The following dividends have been declared
The Neptune Insurance Company, a semi annual
dividend Of q per cent, payable on I'd of Juy the
Brooklyn Fire Insurance Company, dividend of 10
per cent payable the I'd Of July, and 81 per cent
has been added TO the surplus fund of the last six
months profits; the Washington Marine Insurance
Company, semi-annual dividend of 81 per cent,
payable July 2; the Merchants Exchange Bank
semi annual dividend of 81 per cent, payable July
2; the Mechanics Bank a dividend of four per cent
payable on the ID of July; the Anchor Insurance
Company, an interest dividend Of seven per cent
per annnm to July 1, payable on the preferred
stock on the 10th Of July, and on the redeemable
stock on the 10th of July; the Cleveland, Paines
vile and Ashtabula Railroad Company cleveland
and EIie), semi-annual dividend of five per cent.
We learn by telegraph that the Cleveland and
Pittsburg Railroad Company has been placed in
the hands Of receiver, by order of the Circuit
Court Of the United States for the Northern district
Of Ohio, at the suit of NJ. w. Baldwin & Co. ]. N.
Mccullough, the President and superintendent, OF |
he company, has been appointed receiver. The
lain OF NJ w. Baldwin & Co. is for locomotives
furnished the railroad company in 1857, and
amounts to about sl22 900, no part of which has
,een paid. The Cleveland Herald of Monday
ays:--
The financial difficulties OF the company, arising from
rge floating debt, such that IL impossible for the
ompany with the outside pressure upon for payment
be kept any longer out OF the hands OF APP
" the courts Of Pennsyl and the laws OF Penn
vana regard TO the appointment Of sequestrators
nsovent corporations passed before the public hal
econc acquainted with the uses sesstes aud
4 operating railroads, aud in respects adapted
thereto. there no doubt but what much better
or all the PARTIES Interested In the railroad company
whether az oondhoders, creditors socShodes
that the road should 10 the hands OF receiver IN
stead Of a scquestrator.
The following Is statement OF the movements of |
cotton for the past week and since Isl September
last, compared with the i've preceding years.
--R.o,ilss--> cErpors for Past Week-,
Usek Since SPIT l. Ct Brit. France. U ZIP