The New York herald., 1863-06-29
'ast week and month";


in two leading stocks Hudson River and Harlem.
The former had been largely oversold by specula-
tors partly on the change Of direction, which was
assumed by some of the ex-directors and their
friends to be of evil import the consequences was
an advance of Is 20 per cent in the stock, and q
corresponding loss to the sellers. The movement
is regarded in some quarters as street "corner;"
but we learn that the heavy holders have been all
along free lenders of cash stock. In Harlem the
movement was still more remarkable. On the un-
derstanding that the Common Council would pass
resolutions resembling the Broadway Railroad grant
to the Harlem Company short sales Of several
thousand shares-it is said manyya as fifty thou.
sand shares-were made by parties who had the
misfortune to be in the secret Under the
pressure of these sales the price was de-
pressed Thursday evening to 72 per
cent. On Friday morning the newspapers pub
lished the resolutions of the Council, and that day
the stock rose to 81 per cent, and yesterday to
LOG. It is understood that the short sellers have
acknowledged their defeat, and ehdeavored to
make terms with their triumphant antagonists
without success. If this be true there is no say
ing to what price the stock may not rise. Old
members of the board remembers corner in Har-
lem in the old times in which the stock rose to
something like $50. Whether Commodore Wander.
bilt had hand in that corner as in this one, those
who can recall the history of this almost for
gotten passage in Wall streets history will
be able to say. The price of other leading
shares has not varied much during the past
week. Central and Erie are firm. 1t is
understood that besides a regular dividend on the
former Of 3Z per cent, extra dividend Of either
TX or TX will be paid in August. It is now con-
ceded on every side that S% per cent will be paid
on Erie old, and many stockholders expect per
cent The feeling of holders is thoroughly aroused,
and il will not be safe for the management to tribe
with them, II there was any desire to do so. Pitts
burg has been dull and neglected, partly on the
raid into Pennsylvania. Nothing has been deter
mined respecting the dividend; but a large body
of stockholders will be greatly disappointed II no
| dividend be declared on the lst. The Michigan
Central dividend gives general satisfaction. The
| Michigan Southern directors have declared five per
| cent ON the guaranteed stock, payable lst Of Au'
gust; they will have over $3.50 900 on hand after
| paying the dividend.
Late European advices report active inquiry
for and considerable business in Illinois Central
stock. The English, who are the leading holders
of this property appear to be awakening to the fact
that the original theory upon which the road wal
constructed is being demonstrated, and that within
limited period Of time the stockholders will owr
the whole line, seven hundred miles long, free Of
debt besides an amount of land nearly equal in
value to the road The entire debt at present ID
about $l4,50O,O00, against which the company
holds about $ll 500 900 Of land notes secured by
mortgage on improved lands. The land sales are
progressing at about the rate Of 81 100 900 per an
mum: so that in very short time the interest OF
land notes will defray the entire charge for nteres
on bonds and the capital Of the bonds will 90 pait
off by the payment Of maturing land notes. In view
of the present position and commanding future o
the State Of Illinois, IL Is safe to say that when thu
debt Of the Illinois Central is paid of or balanced
! by mortgages TO an equal amount there will be M
such railway property in the country as the stock
of that line. During the last fiscal year the traf
ic showed an increase over the previous year o
&5ie,2l3; during the current year the increase
over last year for eight months Ii $76s $40, and
for the whole year will be over million OF dol
lars, and perhaps 81 400 900. The best index 4
the present prosperity and future prospects Of thu
property Is, perhaps after ALL to be found in tn,
actual cash receipts for lands sold In the frs
eight months Of the fiscal year ls6l-62 the re
ceipts on this account were slsl ,0ss; during IN,
corresponding period Of the current fiscal year tn
company received in cash $7l9,7l7.
The speculation in gold mines, which Is raginl
30 wildly in California, and in which fortunes ar
made and lost in day, is at length spreading Il
this meridian. We hear Of several Californi,
mines which are to be introduced upon our board
and one or two similar schemes, based on mine
in Colorado and Nevada, are likewise talke,
about. We have rece ived prospectuses Of variou
new mining companies Of those regions, and it 1
probable that spectators win by and by have
nnce OF making and losing money in these lgh
fancy stocks.
The imports, other than dry goods and specie
at the port Of New York for the week ending Jun
20, 1868, were 81 ,sl3,9s2.
CITY COMMERCIAL REPORT.
SATURDAY, June 2T--sP NJ
Sale. of ao bh,s uere efyects Al Al sc sox nr. 49,