The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-07-20

1t will be perceived that prices for most of the best
stocks in the list have within tie past month, depre
ciated largely but it must be borne in mind that
some of them quoted with the July dividend
Off Pennsylvania SIS vary just about the amount of d.
ydend The decline in Illinois has been greater than
the insalment paid. Ohio Life and Trust Company
have passed dividends its stock is therefore much
duced. Reading Bonds and shares have improved; the
bonds are higher now than they before the SEE
mi-annua interest paid and the probability is that
a steady improvement will be realized in these secu-
rites. large portion Of the debt of that company
has been disposed Of converted into shares and the
probability it, that further will be liqudated in
that way. The net earnings Of the company suf-
cient pay good dividend the aggregate cost nd
gradually pay off its floating debt At all events, when
the total cost is represented entirely by shares
stockholders occupy much safer and more satsfac-
tory position than when large debt stands between
them and the property represented by the capital
This is an important and valuable work. and we
pleased to see prospect of the enterprisng stock
holders Gaping return for their immense outlay
For time the dividends may be in stock, if any
made, that the net revenue of the company may for
time be appropriated to the reduction of the float
ing and funded debts.
The market value of the Ohio Life and Trust Com
panys stock has deprecated very much within the
past year. The heavy losses which this institution
sustained within the past year. by the failure of the
house Of A. a. Cover, Nephew Co, of London, and
the Nashville Insurance Trust Company, of
Nashville Tennessee, have prevented it from declaring
its regular July dividend A dividend declared
last January but the extent of the losses had not then
been fully asceraned They have since proved have
been S113O91 30 than at that time estimated
and the capital of the company impaired to the
tent of S69ls3 81 The net earnings of the company
have averaged in the past five years. ten per cent per
annum and it is therefore, safely estimated that the
earnings of the next twelve months can be put down
at eight per cent In the event of that being realized
the company will be able to pay a dividend of three
per cent the LIST of July, 1872 and have surplus
on hand. The policy pursued by this company Is n
safe one If all institutions of this kind would make
up their losses out of their future earnings by sus-
pension of divdendsif they would take them out of
their stockholders, instead Of drawing them from the
pubc-wc should not have 30 many occasions to record
the failure of such concerns the rascaty of those
having the management of them. The great object of
all moncyed institutions l. to swell their dividends
much possible and to avoid by all means any inter-
rupton in the regular payments. This, in connexon
with the little principle and gross ignorance exhibited
in the administration of the internal affairs of most
of our banks is the much insolvency among
Them and such exposes when compelled to suspend
The quantity Of flour, wheat, corn and barley left
mt tide water during the I'd week in July In the years
5Si7 and 1s4s, is as follows -
JS57........ I2SyGO l5999l SD3S Kali
lsiS,....... 1851 6475 s0,sH 1910
decrease . 5i,Ou3 0s5i6 25l,5s mn
The aggregate quantity of the articles left at
tidewater, from the commencement of navigation TO
The 18th Of July, inclusive is as follows