The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-03-20
MONEY MARK TT.
Friday, March 1876 Pm

Louisville. Mar IL. Ia feet
MONEY MARKET.
Friday, March 1915 Pm.
There slight Improvement in the stock market
to-day but 1t confined to two three Of the fances
We attribute this to ether cause than the fact,
that several leading bears made their appearance in the
street purchasers to ill up contracts maturing. At
the Grst board, Norwich and Worcester went up per
cent Harlem, x Canton, Y Morris Canal, u Read.
ing Bonds x United States IS, 1855, " Reading u;
Long Island, u Illinois Bank u Ohio g. and Farmers
Loan, closed at yesterdays prices.
At the second board Pennsylvania b's fell of per
cent. Norwich and Worcester advanced u Canton, a.
and Morris Canal, H. There were large sales at the
second board Of Norwich and Worcester holders appear
ing anxious to get rid Of all they had at the advance
The market closed heavy.
The tight money market and the operation Of the In
dependent Treasury system, bringing the fancy
stocks down to their proper level Things which in
fact possess real value, cannot be sustained in the
face of rapidly improving currency Money is becom
ing too valuable to be locked up fancy stocks and al
every chance for any speculative advance is out Of
the question The quotations for such stocks the Nor
witch and Worcester and the Long Island Temperate
sustained by the BEARS for the SUPPOSE Of making sales
to deliver and the moment they leave the market fall
OF several per cent must be realized These two roads
depend almost entirely upon the through travel between
this city and Boston, and they muscontinue teas they
have heretoorefnd rather Improbable business The
Norwich sndWorcester Company will labor under dis
advantages during the approaching travelling season.
which will compel it to copaue Its business almost
entirely to the local travel II has not proper fac.
Ties to enable It to compete successfully with the
other lines for the Sound travel There In operation
at this time, four routes to Boston, two day and two
nj ght lines Of all these lines the shortest 10 by the
way Of Groenport and Stonington and we learn that
arrangements are about being made to run through
by this route in eight hours Should these arrange.
ments be perfected the Norwich and Worcester COM
pany will lose this portion of the through travel This,
however, il not of much consequence, il estimated
that only about onehh of the travel between this city
and Boston, been of the past years. trans
ported by the two day lines. That company must lsok
out tor its night line of through travel fourhhs Of
the whole IL via Long Island Sound In the night boats
This portion Of the through travel is In fair way Of
being drawn the stonngton route the railroad and
steamboat companies of that line have provided aeil
ties superior to those of any other route and such
az must command the bulk Of the through business.
1t IL estimated that the time between the two cities
by that line will not vary much from nine hours The
Oregon goes early in pr and the Vanderbilt early
in June. II Is the direct the shortest and with the
advantages such gncent boats those named above
furnish must be the cheapest and quickest route be.
tween New York and Boston.
The local travel OF the Norwich and Worcester Rail.
road has BEEN in each Of the past years. about Eve
eghhs Of the aggregate business of the company The
of this business limited and the consruo-
ton Of other roads calculated to draw away part of
that which 1t has hitherto monopoliscd progressing
rapidly, that the maximum Of that traffic, has without
doubt been reached 1t will therefore be that with
increase in its local travel and with falling Of Of
large per cent in Its through business that the gross
Of the company this year, is not likely to ex
eeed that Of last. 1t is our opinion that 1t
will not equal that of ls46, while the expsn.
ditures will be fully large. In this view
o. the affairs Of the Norwich and Worcester Railroad
COMPANY it is impossible to keep Its stock the present
market value It has not in fact any real value as the
payment Of the smallest dividend Is utterly out Of
the question. There 10 not the most remote probability
ola dividend being realized from the net receipts Of this
company for many years. perhsps never is at pre-
nt organized. At present prices should be three
per cent stock, and holders must have confidence
in its ultimate value than the position Of the company
warrants We cannot where business enough is to
from, TO enable this company net revenue suf
cient pay dividend that will establish the par value
present prices. All the value any fancy stock pos
sssses, in the prospective business Of the
company To the extent that from time to time every
Improvement in the market value ia based Where the
receipts Of company have reached maximum, and ts
STOCK selling at nifty cents on the dollar there very
little chance for any permanent increase in prices.
The capital stock Of the Syracuse and Oswego Reli
road Of $3.50 900 has been nearly filled up The
strucon Of this line will make railroad connection be-
tween the Hudson river and Lake Ontario. 1t will be of
great benefit to Oswego, It will increase the Lake
travel to and from that point
The coinage In the United States Branch Mint at New
Orleans for the month of February, annexed -:
CoISAoE AT THE New ORLE1Ns MIrr.
Gold eseles.........l 10 o00 $3.50 600
Silver, half dollars, $40. 900. 10000
Deposits during the same month";
Gold bullion. ........... .S329,2t9 II
Silver bullion ..s..........s...s. sos, 1917
Total. S537,6l6 81
The deposits of bullion in the Mint within the month
Of February at New Orleans exceeded the imports Of
specie into that port and the amount Of specie scnt frsm
the Sub Treasury in this city 10 the Mint at Philadelphia
within the past month"; exceeds the aggregate importation
since the LIST Of January last
The annexed table exhibits the number of foreign
vessels from foreign ports, and also, the number of
American vessels from foreign ports which have entered
the port Of New Orleans during the months of January
and February this yesr,-
FonEIor TRADE or Ngw ORLEAr,
F0rstn cess I'm For Ports .dmn pesLs I'm Foyu por,,
chin, 'anp reDV Janv Fs6y.
n',t.' '''''''''',,n, ~ Fps ...........9 10