The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-08-19
FINANCIAL AND COMMERCIAL,
SATURDAY, August ls-6 r

SATURDAY, August lS-6 L. NJ
The steamships Kangaroo and Arago sailed for
Europe to-day the former with s73s $40, the lat
ter with $69s l50 In specie freight. The Karnak
which sailed for Nassau, took sl2 9lo; so that the
total shipment of the day was 81 ,449, $40. The
market for foreign exchange closed steady. In
money there is no change to quote.
The stock market opened firmly this morning
and q fair business was done at a small ad-
vance over the quotations Of yesterday evening;
but at the close Of the session a large lot of
Central was Unexpectedly forced on the
market, and a general decline, which at one
time almost looked like panic, ensued. Central,
for instance, which closed yesterday at 81 bid sold
up to SO cash, but after the board the best bid
was set. Rock Island, Galena, Illinois Central and
the Michigan shares were all better at the board,
but sold afferward in the street al q concession
Of l per cent from the printed list. There was
no second board and very little was done in the
afternoon; at the time the leading brokers left the
street the market was Grmer. No cause is assign.
cd for the sudden change in the tone Of the market
Panama was rather better, and so was Pacific
Mail, without, however, any activity in either. The
bear party were cautious to-day in putting out
their options in the face Of the large increase in
railroad traffic. But should the market show as
much weakness on Monday as it did after the board
this morning, they will probably recover courage
and re.enter the field boldly. The differences
which are paid for carrying stocks at the present
time are quite large, and give the brokers q hand
some opportunity Of making money.
The exchanges at the Bank Clearing House this
morning were $2l ,73s ,G2l 65, and the balances
81 ,l9G 663 Gl.
The following dividends have been declared
The Atlantic and st. Lawrence Railroad, dividend
of three dollars per share, payable on demand, at
the Casco Bank, Portland the Portsmouth On.
H. Steam Factory, dividend of eight per cent,
payable September c the 0swego and Syracuse
Railroad, semi-annua dividend OF three per cent,
payable on the 2lst inst, by II. A. Oakley, agent
at the Office Of Howard Insurance Company
Mr.. Haws, the City Comptroller invites pro.
posals for three million dollars for the floating debt
fund stock, authorized by the laws of ls6o. The
bids will be opened on the 18th Of September 1860
Holders Of revenue bonds Of the Corporation may
Of their option, make them available for the pur.
chase Of the stock. The interest will be at the
rate Of six per cent per annum, payable quarterly
and principal reimbusable on the LIST OF May 1878.
For some time past the Dubuque and Pacific
Railroad Company, running from Dubuque to Man.
chester, Iowa, and prospectvely to the Missouri
river, has been unable to pay the interest on its
bonds, and the mortgages were about to be fore.
closed, when on Tuesday last, meeting Of the
bondholders, trustees and directors was held, and
the following bargain made:--
The owners Of the bonds, in place Of that species Of obi
gstious agree take preferred stock In lieu Of n,e
rest consent to receive dividends from the earnings Of the
road The directors their part consent surrender
of at and ~
buque and Pacific Company and transfer OF the same
together with the stock q the company TO new corpo
ration, 70 be known the DUBUQUE and Sioux City Rail.
road Company whose capital stock shall be &c
and the issue Of bonds limited 10 "a 600 600 Until the
annual election Tor The choice uf directors which will be
the 18Th q February next The new corporation will
be under the control n provisional directors consstug
q Nessrs Hermann Gopecie. Plat smith, W W. H,niE
ter ard y Jcspp-thc gentlemen composing the pre-.