The New York herald., 1868-05-24

At the commencement of business the stock mar
ket was steady and at the early session OF the open
board Erie sold at 6S,s New York Central 1905,
Reading 93s and Pacific Mail 921 AT the Il rst reg
uar board there no material change in prices
except for Reading which advanced 10 %. Reading
closed l higher than at the same time yesterday,
Michigan Southern a. Cleveland and Pittsburg 4,
Fort Wayne 4 and Milwaukee and st. Paul pre-
ferred q, while New York Central was q lower.
Erie q, Cleveland and Toledo "a and Rock Island Il.
Government securities were firm but duh at a de-
cline of eighth per cent from the highest prices
of yesterday AT the open board at O'Clock there
only fractional changes in quotations. and Read
ing sold at 93A, Michigan Southern s7a4 and Pacific
Mail 9lls. AT the second regular board there was
very moderate volume Of transactions but prices adj
vanced, especially for Cleveland and Plttsburg. New
York Central closed a higher than at the first regu
lar board, Erie a, Michigan Southern y, Cleveland
and Ptsburg Ia, Cleveland and Toledo a. Rock
Island r., Northwestern preferred 9s, and Fort
Wayne -; while Reading was. q lower and Quick
silver a. At the open board at halfpast three the
market strong but quiet and Erie sold at 90 4,
New York Central l29s, Rock Island 955S and Michi-
gan Southern ssS, while Pacific Mail advanced
to 039s. During the remainder of the
afternoon there more disposition shown to buy
than TO sell under the influence OF the bank state
men and at the close az haifp past five the following
quotations were current:-Pacfc Mail, 937s 03 = (;
Ohio and Mississippi certificates, 5o1s 3oh Western
Union Telegraph, 3s 1885,; New York Central, 129A
129A; Erie, 694 COS; Reading 93t. q e37S; MIchi-
gan southern, SIS a ssts; Cleveland and Pttsburg,
s71 IS; Cleveland and Toledo, los2; Rock Island
95is 90: Northwestern, 661S 81; Northwestern pre-
ierrcd, 775s a rs; Fort Wayne, 1Oak a 1895.
Messrs. Uriel Murdock president of the CONT
mental Bank, W. II. Appleton, G. j. Forrest II. Blood
md IN Mnr hlyn
holders of the Rock Island Railway Company, issued
call to the stockholders at large to meet early in
June for the election of new board OF directors,
and for this they solicit proxies. they argue that
the stockholders have right TO hold this election
under the charter Of the original company incor
porated under the laws of the State of Illinois, and
they propose TO test the constiutionallty of the
special act Of me Iowa Legislature passed this year
which authorizes postponemcnt of the annual elec
tion OF directors until next year.
Another section OF twenty miles of the Union
Pacific Railway Company has just been completed,
making in all six hundred miles from its terminus ~
omaha. sixty miles OF railway now run over the
Rocky Mountains where there was nothing done two
months ago. The summit OF the mountains, eight
thousand feet above the level of the sea- has been sur
mounted and left fifty miles in the rear
Of the advanced party. Ten thousand Ia
borers are at work, AMI the contractors
purpose building not less than three hun
dred and fifty miles more before the end of the pre-
sent year. The length Of road already completed
Is one-third of the entire distance from Omaha to
Sacramento and before the year expires more than
One-half OF the line will be constructed. The
Central Pacific Company is rapidly advancing
frtm the western terminus and IN January next
1t 70 expected that the gap between the two
lines VIII be less than six hundred miles, and
the journey from New YORK TO san Fran
CISCO may be made within ten days. Here at the