The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-10-30

The quotations current on the LIST of June 1914,
the highest reached by most of the stocks named
and the highest reached during the spe.
ealation that the previous March and term-
mated the l2th of June the year. when decline
Of 10 to 10 per cent experienced in day. The
lowest point touched by these stocks within the past
eighteen months the list Of August, as will be
the above table The movement is onward;
prices may from time to time and recede little
but the speculative fever has become too great to be
easily destroyed.
The indications for long period of speculation in
some descriptions Of merchandise and in stocks are
present unusually The country generally,
in more prosperous condition; every depart
of business appears to be established upon solid
basis, every is actively employed the currency
in sound healthy state, the products of the soil com
mand remunsratng prices and the appear to be
IN the enjoyment Of all those things to improve
their condition There has not been period within the
past fifteen years ince lssO when the future appeared
filled with the elements necessary advance all bust
operations We are about entering upon an era in
commercial affairs that will be filed with events as int
resting end important in their results any that have
been experienced. There has been within the past
fifteen years very great increase in real capital in this
country, and when this capital becomes invested in
manner so that 1t will increase rapidly
did in 1885 and 1885, we may look for expansion OK.
great scarcity Of private capital during the specula
tive period The banks almost monopolixed the business
Of making loans, and when their resources were ex
haustsd, the bubbles began to explode. We have now
greater facilities for extending any speculation that may
arise than had before The banking capital Of our
large cities 10 at this moment larger than before
has been and the those institutions are pursuing
tends directly to expenson of Credits by extending
their discounts and to rapid increase in all legitimate
business operations and speculative movements by the
additional facilities afforded to those engaged in them
There has been throughout the country within the past
year, increase In bank loans Of nearly forty millions
increase In the issue Of paper money, Of
than hvo millions Of dollars The expansion ga
thsrs strength as 1t progresses, and few years will
srcs to bring about tho lively times Of 1895 aud 1886
The internal Improvement mania that has already
commenced will take different course this time to
what did last then It was conferred upon the consruc
ton ofcanss It is confined almost esclus veIy to
railroads. and there will be about great similarity
between the movements Of the two periods as there il
between the improvements aimed at. New roads will
not only be built but the roads active operation
and those progressing towards completion will become
immensely productive Tho business Of the country with.
in the five years will without doubt be at least dou
blcd and the traffic upon railroads consequently increa
scd in corresponding proportion. There is not rail
road in the country IN active operation but that will
within the period above named, become regular, perma
Nit dividend ing stocks and of all Others the roads
dyefsing from this city must in the natural course of
tgs be more productive than those otherwise located
Ts quotations for all railroad stocks rule much
below their actual value investments and II 10 in some
instances nothing but the feeling in the public mind Gre
ated by the past Of the lines that keeps
iswn tho market price This prejudice these old rseo