New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-08-15

Speaking Of the recent rapid rise in our Stock Mar
ket The Boston Commercial Bulletin, standing afar
of, says:
In the meantime the prices Of the New-fork
share market move upward, upon the whole, with
velocity that would be reckless, under ordinary CIR
eumsapces and that only be justified by the pian
fact that Western stocks, as we have asserted again
and again for a twelve month have been undulv de-
nress.d OF eonrse, the public confidence In them
increases and their facts and prospects are better nn
derstood, they must rapidly attain 10 something IKE
their average value, they come 10 decided stop
and their 4rket prices show the small fluctuations OF
ordinary stock operations. On the assumption OF the
Improvement Of the Wet henceforwsrd many OF these
stocks are manifestly 60 cheap even now, that new
purchasers take them daily at going rates. and are glad
to get them those figures albeit they may be higher
than those of the day before.
We have no disposition to eXsggerate, but neither
shall sultify ourselves because others VINO nave
been accustomed TO the low figures Of Western shares
and 10 the minor fluctuations those figures produced
by temporary cEques and passing facts, cannot COM
pIehend the great change which Is beginning IN tne
whole Western country, and which must inevitably
give more business and larger profits TO the railroads
of that re zion and to their seaboard connections And
10 be very moderate, and not TO anticipate too mucn
from the coming harvests we may confne our atten-
ton 10 the past and present.
Since the beginning of its fiscal year for instance
the Michigan Southern exhibits gains that fully Justify
the conclusion that il will in 1860, from to III
per cent ts 600 of preferred stock after pay
Ing all expenses repairs and interest. II so, liz deot
is worth a. much any per cent investments In the
land al the preferred stock cannot be considered dear
at 80 cents on a dollar.
Or let us.t,ke the HUDSON River months ago. The
Directors published statement showing that the road
was earning T. cent upon its stock, after paying All
expenses repairs, and interest the assumption that
their estimates for the remaining months OF the hsca
wear were correct. Now these estimates hare been
exceeded month after month, aud there remain but
August and September of the year aforesaid The
a.. ~ aIan hos hS4p
ton OF the statement. Can the stock be considered
dear then al sixty cents the dollar
Or if we look at the Cleveland and Toledo, which
has been advancing rapidly OF late, we ascertain tha
in the last half of last year 1t earned full cent
after payrnent of expenses repars and Interests that
il has gained week after week and month after month
upon last year and that its small floating debt Is 70 be
funded Immediately. We cannot, for the life OF u.s.
discover why Cleveland and Toledo IL not cheap al
fifty cents on dollar
To the Editor Of The ". y. TyIbsne
SIR: Has the andscheme announced below anything
to do with the rise in price and demand in English
market reported by Adratic for Illinois Central Rail
road stock SUBscRiBEk.
Troy, Aug. Ia, 1860.
GREAT LAND PRoJEcT.-Steps are in progress
for the organization of a company in London, with
capital of over 800 900 sterling lover $500 O0O TO
be devoted 10 the purchase and settlement OF lands IN
Illinois The Prairie Land Emigration Company
states that conditional purchase has been made OF
$50 900 acres of prairie land from the Iino Central
Railroad Company, that when the sale Is completed
the company wi Lot be in any way connected win
the Illinois Central Railroad ts affairs but will hold
the land by direct tenure in freehold The scheme
il said to be similar 10 that Of the Canada Land Com
papy, started in London years since, and which
has successfully established large population upon lts
tnds aud proved extremely profitable operation 70
its stockholders.