The New York herald., 1866-05-31
FINANCIAL AND COMMERCE.

WEDNESDAY May 80-6P II
The stock market has shown considerable buoyancy 10
day. Michigan Southern being especially strong and
active. Reading, Fort Wayne and New York Central
were also in good demand at advancing figures. large
business done in Cleveland and Pttsburg at 81 80,
the clique In having evidently not yet sold the larger
portion OF their stock. The movement of Erie irregu
ar and after selling at 61s in the morning 1t declined
to 6ek late In the afternoon meeting Of the directors
held this afternoon but nothing ocally transpired
relative to its proceedings The entire management OF
the road regarded with dsrus and the unfavorable
reports concerning the condition OF its affairs emanating
from Official supposed to be Influenced by
speculative motives notorious speculator In Broad
street. who Is known to be largely short Of the stock
is supposed TO virtually control IT. and It is scandal
to the company that he should be permitted 10
remain one Of its members. In whatever light we
regard the present management Of the Erie Railway II Is
dscreditabe TO those concerned for while the New York
Central and other leading companies earning moro
and spending less in proportion than perhaps ever BE-
fore, the Erie road is II may believe at least OF
Its speculative directors, in semi-bankrupt coll
don It is not strange. therefore, that the gen.
eral opinion should be that what ought
TO be Of the bst paying lines in the country has
fallen into tho hands Of band Of Philistines already
waxing fat upon the mpoverishmen Of its stockholders
Apart from Erie and its demoraizng influences the
tendency of the market for railway shares and the
Western particularly is decidedly upward and the
ensuing month is likely to witness an active speculation
which will carry prices considerably higher. In the
miscellaneous there Is very little doing and Marposa
preferred appears to be the most strongly held.
At the early Of the open board the tendency Of
prices was upward New York Central sold at os. Erie
s9zI COZ, Hudson River 1l3H, Reading 109K, Mcht
gan Southern 7s% Cleveland and Pittsburg 80 SIX,
Rock Island 921S Northwestern preferred SIX, Fort
Wayne eS1, Canton .694, Western Union Telegraph |
60N AT the first regular board the volume Of business
large and prices experienced further Improvements
Erie closed ~ higher than at the half past two bOard
yese riay, New York Central IL, Hudson River u, |
Reading y, Michigan Southern " Northwestern pre-
ferred l, Rock Island s, Fort Wavne , Ohio and Mis-
sppi certificates a. Government securities were
firm. Coupon FIVE -twentes Of 1865 advanced ~ seven
thirty notes of the first series ~
AT the O'Clock the market a shade |
lower except for Michigan Southern and Reading which
advanced. At the bafpast two board 1t steady.
Michigan Southern, after previously selling at SIX.
closed IL CHER than at the first regular board North
western higher, Canton a. Erie showed decline
of u, Hudson River a Cleveland Pitsburg n North
western preferred a. Fort Wayne r. Government secu-
rites unchanged excepting coupon skies Of 1881, |
which were u lower
At the thre open board there large sales
Of Erie, under which the prices declined to 591 aud
the rest Of the market partially sympathized |
with the movement Michigan Southern sold at s0,<
y, Cleveland and pttsburg s6 ST. New York Central
o. 81 9s, Ohio and Mississippi certificates (s 81 2s3s
Narposa preferred "a, Cumberland Coal 45T Canton
COZ. Afterwards the general market closed strong at
an advance the quotations at halfpast five be as
under:-Michigan Southern s0A 81, New York Central
ok a9s, Erie 599s a " Hudson River 113h " Read.
ing 100 no. Cleveland Pittsburg sax 81, Cieve-
land and Toledo l04 bid, Rock Island 93k bid North.
western 2sl4 bid, Fort Wayne 97zs a 9sh.
Tho market fluctuations during the last fortnight
Indicated by the following tabo Of prices current at the