The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-12-30
FINANCIAL AND COMMERCIAL.

FRrpAy, Dec 29-o NJ
The stock market developed increased nrmness and
activity today In anticipation OF Or sk speculative Pc
Rod after the turn The bears continued 70
hammer the market with their options at thirty ana
sixy DAYS but was an evident reluctance 70 SCH
cash stock AT early session OF The open board new
Work Central sod at s6k a y, Erie e5.< u, Reading
106, Michigan Southern 74, Cleveland aud Pitssourg
aan Rock Island l074 LOT, Northwestern s5H, Fort
WAYNE 1852. Ohio and Mississippi certificates 2sH,
u.rinosa lsX At the first regular board Erie
rIasad Y higher than at the halfpass TWO
hoard Yesterday. Michigan Southern y, Cleveland
and Pittsburg u, Northwestern y, preferred a ROCK
Island y, Fort Wayne y. New York Central was
lower Ohio and Mississippi certificates y, Quicksilver
Y. Government securities we're Drn. Five-swsntes
were unchanged. but ten fortes rose e and seven
thirty OF the second series y.
A. the one O'Clock session there general frac-
,ona, advance which was fully maintained At the half
mast two board when Reading closed higher than at the
nrs, board Cleveland and Pit,sburg Y. Northwestern ~
preferred y, Rock Island x, Fort Wayne y, Cumberland
" Quicksilver " New York Central u lower, Erie
steady Government securities stronger under the
European news reporting advance Of fvetwentcs to
MAX in London; but private advices wore said to
have been received quoting them at GA. Old ays-
twensies advanced Z under purchases of about half
million on foreign account At the close los was bid.
Ten foties advanced notes Of the second
series Il.
At tho half past three session of the open beard the
market underwent further Improvement. New York
Central closed at s6H, Erie 96N, Reading 1863 u,
Hudson River 10sk Michigan Southern 74ss Cleveland
and P,sburg s3,S, Rock Island 1855, Northwestern
asa preferred el Fort Wayne 1861 Schuylkill Coal
Is l6 Ave-twenties coupon Of 1892 1867 third issue
102
Afterwards on the street, the market continued firm
and active At quarter past FIVE p NJ Michigan South
ern was sclling at TAX x, Erie 96x q, Reading
1904 Northwestern 35k e, preferred 6l2& 90, New
York Central 963l X, Cleveland and Ptsburg 49, ~
Ohio and Mississippi certificates 2Sssa%
We have investigated tho affairs Of the Ohio and Mis-
sssippi Railroad Company more in detail, ms shown by
the last annual report Of the trustees, whose
vouch for the Of their statements namely
Allan Campbell joseph W. Asop, Edwin Bartlett, David
Leayitt Edward Learned, Samuel W. Comstock, william
A. Booth.
The amount Of certificates, preferred and common,
issued during the year ending December 1865, on &C
count Of both divisions, S5sG,Ss7 for which an
equivalent amount Of assets surrendered to the
trustees during the Rod. OF this total issued
$685. COZ was in the form OF preferred certificates
making the Of these outstanding 81 900 506 and OF
the coramon Sl9 s22 $40 or the remaining outsand-
ing claims and securities conv erble into certificates
ferred New certificates only issued in conversions
of other securities the debt Of the road besides
outstanding certificates and tho amounts m enoned az
being convertible into them il $3.50 900 in first
and second mortgage bonds, which not convertible
making about twenty millions OF indebtedness in
all The trustees acting Tor the creditors and stock
holders OF the company, under an agreement dated De-
cember Is 1855 by which their powers are limited The
statement OF tho western paper which we recently re-
forred to s therefore, dsproved far II refers to
the present management however much little Of truth
il may contained In respect to the old company be-
fore the trust established
The Mississippi and Missouri Railway bondholiers
aounce that they have deposited majority OF the second
mortgage bondsthc only mortgage covering the whole
road-wiih John P. Yelverton D. N. Hughes aud T. r
James trustees foroclosc the mortgage and rcorganxe
the company. This action the part Of the
bondhoders s intended the Chicago aud Rock
Island Company from completing the purchase OF
the road. Under the proposed plan all tho bend
holders may obtain securities Issued by tho
pany at par and interest for their bonds, which It IS
sontendod viii give them market value far above the
s6er OF the Rock Island Company Provision Is made
FOR finishing the road topesmoines and those holding
the different classes Of bonds after few days deposit
chem with the majority the office Of Mr. D. NJ Hughes,
Chairman OF Trustees rs William street. The following
IL the agreement reorganization Of the company,
ss printed
Sell the road under decree OF foreclosure let II be
purchased Tor the benefit OF the creditors and stock
holders asserting TO this agreement Pay the asserting
creditors and with bonds and stock Of the
company, follows, viz:-For the first mortgage
eastern division, par, in tho now companys first mort
gage bonds and preferred stock for all the interest
cumuaied up to the time OF issuing the new securities.
For Of the bonded debt including income bonds
nfty per the frst mortgage bonds and the
balance principal and interest," up TO the time OF ssa
ing the securities In preferred stock Stakeholder.
surrendcrng their stock the Old company to receive
nifty per cent In the ccmpanys common STOCK. See
eompa ratve statement or securities below
Old Bonds. Ney Binds.