The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-09-20
CeMMRRCIAL AFFAIRS.

Tuesday, Sept. 1915 p. M.
The stock market is becoming daily more depressed,
and holders of the weakest ances know not how
they may 60 out sight it as to be scarcely
seen. Any depreciation that may take place in tho
market sound dividend paying securities is Of
consequence to holders unless they wish to realize,
the interest not affected by the ope-
rations lof spectators. Holders of good fances
those really worth more than they selling for
those which are daily improving in value-need be
under apprehension, unless they compelled to
realize Those who have purchased the leading rail-
road stocks used much for speculative purposes in
this market, for ment need not be alarmed at
the decline in prices for there must turning
point and upward movement, which, when 1t
will make up the difference very rapidly. 1t is
very true that they might have supplied thousands at
prices below those paid-thst they might have saved
two three per cent and the interest," for q time,
the amount invested but that matters nothing when
there is such wide margin tor advance, which will
be covered as the works represented by the
stock in existence, and continue in active ope-
ration. Take the Erie Railroad stock, for instance.
No has any doubt that the market value Of this
stock will ultimately be much above par it is now
below and in the meantime holders will receive six
per cent interest the original cost and purchasers
at present prices ten per cent their Investment
Certain local tend to depress prices but that
matters nothing they do not affect the company or
the ultimate Of the road being merely
Wall street affairs We allude particularly to this
stock because its real value is we'll known and tho
depreciation has been great There other rail-
road stocks in this market very similarly stuaed but
of them do not pay interest," and their market
depends upon the prospective productiveness OF
the roads, the temporary depreciation is not sur
prispg. 1t may not be the time to purchase any Of
these stocks that depends upon the views of pecula
tors but it is pretty certain that it is time to sell
unless be of those fances which had and
never will have any value The sooner holders get rid
Of these, the better for their pockets
We stated, yesterday, that the government Of the
United States would pay, the 9th ober the
tifcates of Mexican indemnity issged by the Trea-
sury Department We annex the official notice from
that department.
CERTIFICATES MEXICAN INDEMY1ry.
TREASURY DEPARTMENT, Sept. TO- 184S.
This department having already announced thaG-
the holders of certificates of Mexican indemnity is
sued by it, will be paid the 9th October next fur
Their notice is issued in response to applications
dressed to the department. inquiring as to the rule
by which interest will be calculated in the payment OF
said certificates. att
This department has decided that the instalments
payable by the republic of Mexico with interest at
Sper cent per annum, computed to the day which
each was payable, shall form aggregate sums which
interest at eight per centum will be allowed
from such days respectively until the q tn day Of Oc.
tobtr. 184s, unless sooner paid
HoueTs OF tnese certificates are requested to forward
them forthwith to the Fifth Auditor of the Treasury,
who will duly acknowledge their receipt 1t Is impor
taut for the holders that their certificates should be-
transmitted at y aerly day. otherwise the necessary
calculations of interest, If they at late
days might prevent their payment the day specified
by the department, and which interest will cease,
as already announced Successful bidders for the loan
of 1913, who hold certificates of Mexican indemnity,
may. at any time before the eth of October next pre-
sent them fer payment provided they will appropriate
the amount payable thereon out of the Treasury to-
wards the deposit and payment of their subscriptions.
Fractions OF the amount payable certificates SO
surrendered less than fifty dollars will be paid in cash,
less sum than fifty dollars and the department will
that The interest the of loa n
issued on the surrender Of cer Gates Of Mexican
demnty before the 9Th October next, will commence
from the date Of such surrender
McCLINTOCK YOUNG,
Acting Secretary of the Treasury
The net earnings of the Cape Cod Branch Railroad
during the months of June, July and August amount.
ed to sSo9l ST. This is elk per for the time
on the capital stock of the company The prospect
for an increase of business good any increase
in the net income WILL of course add to the product
veness of the road and swell the dividends Of tho
company. The early estimates of the profits of THO
road were that they would net six per its
The latest returns of the Banks Of Ohio, compared
WIN those made previously, present the annexed
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