The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-07-28
FINANCIAL. AND CoMMERciA
FRIDAY. July 27-G +. NJ.

1
ing, s. ,o56, 1905.
There has been a fair business done today i,
foreign bills for the Vanderbilt. Mercantile bill
are scarce, and the bankers are cover
ing with each others sight bills or gold
The asking rates are 1905 for co day bill
on London. and II03 for short sight; for francs
5.los for short sight, and 5.l3s for sixty day bills
The Vanderbilt will take out a very heavy ship
ment of specie tomorrow, probably over a millior
and a half.
The following table will show the price of s;gh,
bills on New York at the cities mentioned
New Orleans .............,.......n "a !. premium.
1 1.tg '.'.''..'.' .''''''''....'..
Philadelphia. ...-....................p par
4 ShcRnssi... .-......-... ~ pfcniunn
There is ETH no check TO the business of the
Stock Exchange The leading jobbers are gen.
orally on the bear side, and their arguments that
reaction is fairly due after the recent advance
obviously consistent with the teachings Of expe.
rience. But The pubhc, or some one that looks
like the public, continues to buy, and prices, while
moving with some rregularity, still tend generally
upward. AT the first board this morning Rock
Island advanced !; Toledo, !; Southern guaran-
teed, 4; Michigan Central, !; Galcna, 6; Read
ing, ]; Harlem. old, I; Erie, ]; New York
! Central 1; Hudson River, 3-the frmest
stocks on the lis: being Hudson River, the
Michigan shares and Reading. 1t is understood
that large party, composed of Philadelphians
and New Workers, are buying the last mentioned
stock on the strength of the increase Of business,
and the increased profit resulting from the late adj
vance of fares. State stocks quieter lately
among the bonds the most active are the cheap
bonds of the Western railways, many of which are
| h.p uvio @ol-a md mt anti &c c;U
afternoon the market was aga in fraction higher,
and stocks closed firm at the following quota
tions:--vrgnia 6's, 9O3 3; Missouri 6s, sll {;
| Canton Company, 100 20; Cumberland Coal,
| lAi Is; Pacific Mail, SO a /; New York Cen.
trail, s3i = ). Erie, % !; Hudson River, 572 IS;
Harlem, II a I; do. preferred, 433 q 4; Reading,
151 Il Michigan Central, 662 q 81; Michigan
Southern and Northern Indiana, Is !: do.
guaranteed, 800 a J; Panama, 127! !; Illinois
Central, 75i d; GaIena and Chicago, zig ~;
Cleveland and Toledo, 373 q &; Chicago and Rock
Island IS! J; Chicago, Burlington and Quincy, 81
a !; Illinois Central IS, s6 J.
The dry goods import for the week ending to.
day was smaller than usual, being only 81, Sal 900,
against $l,ol0,000 same week last year, and
$3.50 COO same week OF 1865. We presume that
the apparent decline this year is merely accidental
and that mex, week will show considerable in
crease. The temptation 70 import largely this fall
has been too powerful justify the belief that the
importers have been pradent
Considerable attention is directed Just now to
the Mississippi and Missouri Railroad, which is pro.
| crossing rapidly through Iowa. The enterprise is
conducted with yigor; but, unlike most roads,
| the public have not thus far had opportunity Of
participating in tie adventure by purchases OF
! sock or bonds.
| Rumors are aGoat to-day that large amount Of
| cotton bill, have been returned from Liverpool ad-
| vices 90 that effect having probably been telc
graphed from Halifax. We hear OF f1j 900 Of bills
coming back 10 one house. Nothing authentic il
known however on the subject; the losers in such
cases generally keep The facts 10 themselves II is
probable that the bills will prove 10 have been
drawn on the houses OF Bckarby or II. g. u. Co
hrouch, whose failures we noticed few days
since. No fresh failures are reported from LIVER
pools hut tho la:e decline in cotton will give rise to
some heavy rcclamatons from the other side.
Tic people OF Wisconsin are filing their own
and OF the city papers with elaborate replies
10 "a article which appeared in this journal on
Goth under the title ofthe Condition OF the North.
west" These replies consist partly of abuse Of our
OF Wisconsin, which, we are assured is The richest,
most fertile, most prosperous, most energetic, mos,
moral and mos. yirtuous State in the Union. In re-
Kinder, VIC have bu, enc word to say;f Wisconsin
<Nl that You say she Il, Nhy don't her people pay
their debts Why don't Milwaukee, Racine, Keno
sha Beio and WATERFOWL pay the interest on tier
| bends instead OF trying TO repudiate! Hadn't the
wisconsinors better pay frs, and brag afterwards
Mr.. Allan Campbell, President of the Harlem
Railroad Company, politely requests us 70 state
that "the article n the financial column OF Thsrs-
days HERALD with regard 90 the Harlem road !,
entirely wi,hou, foundation" and tina; "tie liar-
! lem company have borrowed no money for the
pas, eighteen months, and pay The interest on all
bonds with great punc.uality." AIR. Campbell
| must excuse us: we can't say that Our Thursdays
! article was without foundation, for We have no
| doub, Il was correct in every particular nor can
we ADM; that The Harlem Ways is interest pune.
I iual'y. for we bnow that il docs no
. thing Of the kind. The Dover Extension
| bonds maiurcd on August /. 1859, since which
date rot a cent has been paid on them. ether in
the Shape OF principal or interest. II Mr. Prcsi-
dent Campbell will consult tie records OF the Su-
prcmc Couit lis faith viii probably be shaken in
the 'punciuary" OF the company over which he
prcsiics lie VII there find a case, for instance,
in which one John N. Hubbard, holder of two
Harlem bonds of 81 GOO, sued the company on
them because they did not pay principal or in
| torcst. The company Tended the suit; but the
Supr,mc Court ordered their defence to be struck
ont "ior Tho irivolousncss thereof" and ordered
/ Judgment for to plaintiff, which judgment was en-
tered July L. lsC0, end stu remains wholly due
ard unpaid. Mr. Campbell viii discover in The
same quarter quito an interesting collection ofsmi.
| lar cases, some Of which are in progress, while
Others like Mr.. Hubbard's have been prosecuted TO
Judgment. 1t viii take. VIC undors and something
l6c $3.50 roo in cash 10 ay them ALL and as wessid,
| the company has no money and no worry obvious
means cf raising any. Had no, Mr.. Campbell bet