The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-05-12
arket for the past week and month;

The features Of the week have been continued
animation and steady advance in government
securities. Coupon skies closed last evening at
l0a, and sevcn-thirties at 1919. Railway stocks
did not advance as much last week as they did the
week previous. chiefly in consequence Of sales by
SPECTATORS, who wished to realize profits. The
prevailing opinion in the street is that the course
of the market is upward, and occasional pauses
in the movement are regarded with salts
faction. as they impart fresh strength to
the rise. The captare of Norfolk and the de-
struction of the Merrimac will doubtless prove the
signal for another spirit of business. The most
popular securities continue to be Erie, old and
preferred, Hudson River, Illinois Central, Galena,
Toledo and Rock Island. Attention is especially
attracted TO these stocks by the increase in the
earnings Of. the roads which they represent. The
Erie has never been in sound financial position
as at present. The holders Of the preferred stock
will probably receive dividend this year, and in
1868 there will probably be something to divide on
the common stock. Erie, moreover, is the espe-
cial favorite of New York spectators. People
know all about it. It is New York concern; and
If there is any activity at all in the stock market
Erie is sure to feel it. Hudson River has advanced
per cent on the increased earnings Of March and
April. Illinois Central is. perhaps, the most like
ly Of the speculative stocks. The opening Of the
Mississippi river to trade win quadruple the bust
ness Of the line. From being in an embarrassed
situation il win at once leap into such traffic as
to tax to the utmost its entire rolling stock. Tie
presence at Chicago Of the President, Mr.. VIM. H.
Osborn, is guarantee that opportunities viii not
be neglected, and that when the right time comes
the Illinois Central will viudlcate the predictions
of its orignstors. Galens and Rock Island, as
well as Toledo, are popular, because they are
earning more money than usual and have good
prospects. Galens has taken it's place among
reliable dividendpaying stocks, and will doubtless
pay per cent at least for many years
to come. Rock Island is known to have earned
dividend. Its managers decline-very properly-to
say when it will be declared but the street rumor
is that the directors will decide to divide three per
cent in June. Toledo has just paid three per cent
Its financial position was explained by the Pres
dent when the dividend was declared. It's floating
debt may be regarded as wiped out. and its earn
ings justify the belief that it also will resume its
place permanently on the dividend-paying list.
These are the stocks which, in the opinion Of old
operators, offer the best prospects OF an advance.
We notice that the President has nominated and
the Senate has confirmed Mr. John j. Cisco as
Assistant Treasurer Of the United States at New
York. The government has very few servants as
faithful and as competent as Mr.. Cisco and his re-
appointment reflects credit on the administration
and the Senate. To the press Mr.. Cisco is uniform
ly obliging and complaisans; and IL gives us
pleasure to bear our testimony to his remarkable
Gtness for the very responsible and important
Office which he holds.