The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-10-09
WIZ. and Toupees.-We would
Damond Pointcd GoId PENS.
MONEY MARKET.

Sunday, Oct. SIS n. NJ.
The stock market during the past week has been
very much depressed and prices getting down
among the panic points Some Of the fancies have,
within the past month, deprecated in market value
veral per cent, and Of them have become
duced than they have been befo Treasury notes
and State securities have been steady but the sales
have been to moderats-extent, and the market not
overburdened 1t 10 the snces which called out by
scarcity Of money and prices depend entirely upon
the ability Of holders t. carry them The actual
real value Of any fancy stock has nothing to do with
the market price in Wall street. and is only those
who compelled to sell that take any interest in the
daily quotations Of the board of brokers history
of some Of the most prominent fancies now on the
list would be exceedingly interesting and instructing
The amount of money lost annually on these stocks
by outside spectators and street operators If known
would astonish the uninitiated, and even alarm
those who have participated in the sacrifice. To
give idea Of these losses, it is only necessary
to refer to the o,erations in two railroad stock
which have been recently introduced into Wall street
We allude to the Erie railroad and the Hudson River
railroad stock Every share ofthe stock of these
pabiss upon the rket cost their par value
one hu ndred dollars each-snd upon that value the
companies pay annual interest of six per cent.
Both Of these roads in active state of construc
ion and the friends Of each consider them the best
ng this the stock Of each is selling daily In the street
ct an discou Erie railroad new full stock
selling at sixty dollars per share, viii be seen by
he latest quotations and Hudson River railroad stock
quoted at five nd sixty dollars per share there
not having been any recent sales These prices
for full stock for hundred dollars share paid in
drawing interest at the rate of per cent per
that the purchaser at present prices gets about ten
Der cent per his invest ent, with very wide
margin for improvement in the market value Of the
stock Such the present portion OF these railroad
securities. further depreciation In prices for each
would not surprise what has already place
There are several other railroad stocks In this
a. much reduced in value, but are more of burden
with temporary holders in consequence of not draw
in interest from their capitals Holders Of Erie and
Hudson Railroad stocks not in want of funds, who
have subscribed or for Investment and WHO
have full faith in the ultimate productveness and pro
fit Of the works represented have very little TO do with
the current price in the market If they receive their
interest regularly the par value, 1t is of little con
sequence to them whether the stock seng ut forty
fifty per cent discount but in the event of their
being compelled to realize their position Is by no
me ans pleasant as enormous sacrifices must be sub
mitted to.
There are in the list other fanciss which have
present prospective vsue but they maintain certain
prices through the H. fuence of operations and de.
mapd pr, served by speculation. The state of the
money market has a very important bearing upon
these securities pfreque ntly fall ohrces and i'm
prove five and ten per cent from day to day. but
quires some other than moderate scarcity Of