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Commercial
July 22, 1851
New York Daily Tribune
New York, New York County, New York
What is this article about?
Commercial report from July 21 detailing stock exchange sales, moderate market activity with downward trends in fancy stocks, steady freight rates for wheat and flour, money supply at 5-6%, Sub-Treasury balances, correction on Jaudon & Co. failure, and Rochester and Syracuse Road's 5% dividend and new stock issuance.
OCR Quality
90%
Excellent
Full Text
COMMERCIAL MATTERS.
Sale at the Stock Exchange, July 21.
RECOND BOARD.
15 Harlem R. R., 73 1/2; 100 Erie R. R., 43 1/2; 250 Reading R. R., 55 1/2; 50 N.J. Explosion, 31 1/2; Mun 10.
Monday, July 21.
There was only a moderate business doing in Stocks to-day, and generally the changes are not material. Generally the tendency was downward for the Fancies. In one or two descriptions, however, the market was buoyant. Sound stocks show no marked change. There are but few operators in the street, and an active market cannot be looked for for some time.
In Exchange there is but a small business doing, and there is no change to note. Sterling sold 101 1/2 for first class names. Francs 5 10a5 15ct. The supply of bills is not large.
In Freight there is less doing, but the rates are steady for Wheat and Flour. There is no Corn of moment offering. A vessel was taken up for Dundee at 1s. 11d for Flour, and one for Glasgow at the previous rate. To St. Petersburgh measurement goods are taken at 39s, and Sarsaparilla at 15s. To California there is but little going forward, and the rates are about the same.
The amount received at the Sub-Treasury is $122,074. Paid, $16,310. Balance, $1,856,335.
There is a fair activity in Money, but no change to notice. On call the supply is good at 5a6 p cent although the Banks do not discount freely. Paper is rather more plenty.
In our notice on Saturday of the taking of two and a half millions of Virginia Six per cent by Mr. John Thompson, the words "for himself and others" were accidentally omitted. There is a party of capitalists associated with Mr. Thompson in the operation.
We understand there will be a small supply of three cent pieces in the Sub-Treasury to-morrow.
In noticing the failure of Messrs. S. Jaudon & Co., on the 1st inst, we stated on what we believed to be the best authority that it was occasioned by acceptances for Mr. Peter Conrey, Jr., of New Orleans. We now see by an extract from a letter written to a friend in New-Orleans by Mr. S. Jaudon that we were in error, and we hasten to give Mr. Conrey the benefit of Mr. Jaudon's disclaimer. He says:
"We, of course, in all cases, and at all times, are ready to say, and do say, that what Mr Conrey has been doing was for our benefit and accommodation, and that we are the parties in default and responsible to him for everything—a most melancholy fact it is that we have so involved him."
(Signed) Yours, S. JAUDON.
On the above the New-Orleans Bulletin says:
"This is an unequivocal exculpation of Mr. Conrey's being the instrument or cause of Jaudon's failure—the boot in fact is on the other leg. We have had an opportunity of knowing from an undoubted source, that Mr. Conrey's business transactions have been strictly a legitimate banking business—that he has made no cotton shipments for at least the past seven years, and that he has never had any cotton transactions with Jaudon & Co."
The Rochester and Syracuse Road has declared a semi-annual dividend of 5 per cent. The directors held a meeting on the 4th instant, at which it was resolved to create new or additional stock to the amount of $1,500,000, to be divided into shares of $100 each, to be distributed pro rata, as near as possible, among the respective shareholders, according to the number of full shares held by them on the 21st of August next, who shall on the first day of August next, or within twenty days thereafter, pay to the Treasurer of this company the sum of ten dollars on each share, on condition that the balance of the stock shall be paid in such instalments as may be required by the Directors, and that on failure to pay any such instalment, all the stock so in arrear, shall be forfeited to the use of the company. Interest is to be semi-annually paid to the holders of the new stock on all sums paid thereon, and the said stock shall be made full.
Sale at the Stock Exchange, July 21.
RECOND BOARD.
15 Harlem R. R., 73 1/2; 100 Erie R. R., 43 1/2; 250 Reading R. R., 55 1/2; 50 N.J. Explosion, 31 1/2; Mun 10.
Monday, July 21.
There was only a moderate business doing in Stocks to-day, and generally the changes are not material. Generally the tendency was downward for the Fancies. In one or two descriptions, however, the market was buoyant. Sound stocks show no marked change. There are but few operators in the street, and an active market cannot be looked for for some time.
In Exchange there is but a small business doing, and there is no change to note. Sterling sold 101 1/2 for first class names. Francs 5 10a5 15ct. The supply of bills is not large.
In Freight there is less doing, but the rates are steady for Wheat and Flour. There is no Corn of moment offering. A vessel was taken up for Dundee at 1s. 11d for Flour, and one for Glasgow at the previous rate. To St. Petersburgh measurement goods are taken at 39s, and Sarsaparilla at 15s. To California there is but little going forward, and the rates are about the same.
The amount received at the Sub-Treasury is $122,074. Paid, $16,310. Balance, $1,856,335.
There is a fair activity in Money, but no change to notice. On call the supply is good at 5a6 p cent although the Banks do not discount freely. Paper is rather more plenty.
In our notice on Saturday of the taking of two and a half millions of Virginia Six per cent by Mr. John Thompson, the words "for himself and others" were accidentally omitted. There is a party of capitalists associated with Mr. Thompson in the operation.
We understand there will be a small supply of three cent pieces in the Sub-Treasury to-morrow.
In noticing the failure of Messrs. S. Jaudon & Co., on the 1st inst, we stated on what we believed to be the best authority that it was occasioned by acceptances for Mr. Peter Conrey, Jr., of New Orleans. We now see by an extract from a letter written to a friend in New-Orleans by Mr. S. Jaudon that we were in error, and we hasten to give Mr. Conrey the benefit of Mr. Jaudon's disclaimer. He says:
"We, of course, in all cases, and at all times, are ready to say, and do say, that what Mr Conrey has been doing was for our benefit and accommodation, and that we are the parties in default and responsible to him for everything—a most melancholy fact it is that we have so involved him."
(Signed) Yours, S. JAUDON.
On the above the New-Orleans Bulletin says:
"This is an unequivocal exculpation of Mr. Conrey's being the instrument or cause of Jaudon's failure—the boot in fact is on the other leg. We have had an opportunity of knowing from an undoubted source, that Mr. Conrey's business transactions have been strictly a legitimate banking business—that he has made no cotton shipments for at least the past seven years, and that he has never had any cotton transactions with Jaudon & Co."
The Rochester and Syracuse Road has declared a semi-annual dividend of 5 per cent. The directors held a meeting on the 4th instant, at which it was resolved to create new or additional stock to the amount of $1,500,000, to be divided into shares of $100 each, to be distributed pro rata, as near as possible, among the respective shareholders, according to the number of full shares held by them on the 21st of August next, who shall on the first day of August next, or within twenty days thereafter, pay to the Treasurer of this company the sum of ten dollars on each share, on condition that the balance of the stock shall be paid in such instalments as may be required by the Directors, and that on failure to pay any such instalment, all the stock so in arrear, shall be forfeited to the use of the company. Interest is to be semi-annually paid to the holders of the new stock on all sums paid thereon, and the said stock shall be made full.
What sub-type of article is it?
Stock Market
Market Condition
Shipping
What keywords are associated?
Stock Exchange
Market Report
Freight Rates
Sub Treasury
Dividend Declaration
Bank Failure Correction
What entities or persons were involved?
John Thompson
S. Jaudon & Co.
Peter Conrey, Jr.
Rochester And Syracuse Road
Where did it happen?
New York
Commercial Details
Location
New York
Event Date
July 21
Commodities
Wheat
Flour
Corn
Sarsaparilla
Key Figures
John Thompson
S. Jaudon & Co.
Peter Conrey, Jr.
Rochester And Syracuse Road
Notable Details
Stock Sales: 15 Harlem R.R. At 73 1/2, 100 Erie R.R. At 43 1/2, 250 Reading R.R. At 55 1/2, 50 N.J. Explosion At 31 1/2
Sterling At 101 1/2
Freight To Dundee At 1s. 11d For Flour
Sub Treasury Balance $1,856,335
Money On Call At 5 6%
Virginia Six Per Cent Purchase By Thompson And Associates
Rochester And Syracuse Road 5% Dividend And $1,500,000 New Stock