The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-05-27
MONEY MARKET.
Thursday, May 26-5 p. Nj.

The stock market very buoyant this morning. The
great stock for the day to be Harlem Railroad in
which all the speculation appears to be centred for the
present It stated that large purchases making of
the stock by two prominent capitalists for inv est
ment and again. it is stated that the purchases only
to make good time sales This latter circumstance how
does not to account for the large purchases
and great rise which has been per cent since the
ing board of yesterday. The price is still firm, with an
upward tendency The sudden start in this stock has
impaired activity all others, with the exception Of Mo-
hawk which fell II. Delaware and Hudson f-Illi
nos 6s Indiana SIS kentucky 6's t-Long Island I'll
Ohio SIS New Jersey t-Paterson 2 There a sale
Of $1,000 New York city per cent stock at 81 per cent
premium.
$3.50 arrived to-day from ST. Martha,
At auction a sale of SlIOO Illinois State internal i'm
provcmcn scrip sold at l6 Indiana $50 scrip is quote
at 60 cents.
The improved feeling in the stock market and the rise
in prices Of most stocks should afford additional
to the Secretary Of the Treasury endeavor to avoid thu
fangs of the stockholders. The stock should not \
eld until Congress shall have done something to
its value. Suppose the interested advice Of thu
parties in Wall street listened to, and 95 taken 70
the stock fCongress should then perfect revenue pni
that will command confidence, the stock at home an
abroad would command premium Of say per cent Tn
Treasury would then lose per cent 5000 ooo ncarl
eighteen months interest upon the whole loan whic
would go into the pockets of the brokers. 1t tru
that stock obber with his tools and agents may
else a great influence but so much exs
why all collision with brokers should be avoided Tho
persons endeavor to buy the stock speculation and
their uwatun is o. is pretty good evidence that II
stock is actually worth at least par to the lenders wi
whom the direct the negotiation is opened, the
expensive it will be to the STATED
The New York American Of yesterday contained 10
article the trade, calculated to show that
pper and owner- continue to lose money" I,
advices from England to the 4th ut show that the lee
ing consgnees there had received cotton in the olow
proportions from Jan. /, 1912 -
Barring Brothers bales 2O,I3l Brown, Brothers, 1873
Dennistoun 4,6ll Green and Son, ola
+ Td dow Jackson SS so1i wdes Piekergn s.
-'' A II other 2s7
Total sales 32l,r
Barring Brothers received it appears double that Of
other house and their organ here notifies shippers
owners, that they must continue to lose money" HI
can the Journal of Commerce account for this in the r.
of the fact that Lord Ashburton continues ",afabe
amabe ~ The plain English of the matter is
badly that house" is coming down with reclal
tons.
The Comptroller of the state has published motto
the failure of the New York and rie Rail Road to
the interest due the State stock loaned aid il
the LIST OF December, 1912, at auction. The amour
stock obtained by this from the State is 49,
900, and its dcialcaton the LIST Of April amount
Sal 3l;, which is quarters interest the stoclr
ceved byIt II will be remembered that Mr.. Hohmat
his famous report of last year, included the amour
credit then loaned to the different con pAniss say
5i5 7O0 among the State debt For this his report
assaulted by vcnal prints all sides in order to bolste
credit of those abominoblc specuations. The late q
rocr in his annual report attacked the statement Oh
Hoffman, The Governor in his message, jan A. 1874.
marks as follows -
The New York and Erie rail road was at first estin
10 cos, six millions of dollars but the subsequent
ton of plan securing greater durability and usefuli
will with other causes raise the expense to above
millions. =
The Leg stature in 1896, appropriated TO the imp
ment loan Of public credit for three Millions bu
conditions Of the act being impractcable the worl
susneudcd until the law modified in 1910. since
period the enterprise has teen vigorously prosecuted
tracts have made for constructing the unfnishe
of the road, except section Of forty miles between
post and Binghamport. Portions 232 miles in lie
will be ready for a superstructure in the present
A sum exceeding four millions of dollars has bee,
pended of which 81 800 600 derived from the
loan. If prosecuted with the same energy durin
last year The road wiH be completed IN lsl3 Too
Indebted 10 the people 10 cherish any local partiat
preudces \ cannot withhold an expression Of my /
lion that this enterprise is attaining its true rank