The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-11-22
CO M NJ RCIAL AFFAIRS.
HONEY MARKET.
Tuesday, Nov. 21-t

IueSuay, Nov Sl-O +.
There was Q reaction in the stock market to. day,
and nearly every fancy the list fell off fraction
1t our impression that the improvement of last
week could not be sustained there no basis for
it, and the right kind of operators were not in the
market. At the first board, Harlem declined a per
cent; Canton Company, u; Farmers Loan, Il; Nor
wich and Worcester Il Erie Railroad, u; Reading
Railroad, ri New Haven, q; Ohio 6s advanced u.
securities closed at prices current yester
day.
At the second board Long Island fell off q per cent;
Morris Canal 4; Reading Railroad, q; Erie Railroad
"a; Norwich and Worcester, u.
The demand for exchange for remittance BY the
packet leaving this port tomorrow for Liverpool has
as yet not been very active. The best bills on Lon
don quote At 81 sX per cent premium. On Paris,
Of. rs q ST. 22>f; Amsterdam, 40 404 Hamburg, ssh
q 35h; Bremen 7Sk a79.
The Boston money market is represented as having
materially improved during the past week, and the
outdoor rates daily lessening. The banks we're
discountng freely, and there was more activity
in business.
The amount Of tolls collected at Oswego from the
resumption of navigation to the 18th Of November
this year, was $2oscoo against 1922 2sS for the
responding period, last year, showing decrease Of
$14,23S.
The improvement reported by recent advices In the
railway specuatons in Great Britain is nothing more
less than reaction after long period of Depression
and Is the result more Of the movements of the
gers Of certain leading lines than Of any real per-
manent improvement In the value Of the property re-
presented. SO far as We the only foundation
for the changes is the fact that of the largest COM
panies made more favorable report of its condition
than was anticipated, and the impression becoming
general that the other lines would make exhibits
equally favorable advance in prices was realized
1t is opinion that another reaction is not far dis
tant but that reaction will depress prices full much
| as the one just experienced has inflated them. The
facts u.s. the railway business in England Is overdone
more than half Of the lines be made to
pay and the most productive will be much less profit
able than they have been Returns recently received
show steady falling of in the weekly receipts in the
face of in mercha ndise but little less limit
ed than those Of last year Ifthis is the now what
may be expected whom all the contemplated lines
completed and the amount Of capital invested in these
works double what 1t is at present! This is not q
a difficult question to answer. According to tables
published in England upon the best authority. it ap
pears that railway bills have been granted by Paria
ment authorizing an expenditure of G326 6432l7. OF
this amount flo5 3IT leo had been called in up to the
end of eptember leaving liabilities still resting upon
the public 10 the amount OF fl3l 32slil moderate
deprecation in such immense amount of property,
involves the ruin OF thousands but when depreoa-
ton Of y per cent takes place the most fearful dis
asters must be experienced II estimated tn at these
iines upon which nearly two hundred millions OF
pounds storing have been expended have deprecated
in value full one half their have lost not ess
than enc hundred millions sterling or the one hun