The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-07-16
COMMERCIAL. AFFAIRS.
MONEY MARKET.



The stock market opened and closed heavy to-day
Prices fell of fraction and the transactions we're
very limited extent The money market has tight
ened within the past day two and fancy stocks feel
1t YER sensiby. Treasury notes and government
stocks exceedingly sensitive, and appear to be
dropping. At the first board to. day, Treasury Notes
decl ned q per cent Harlem, 4; Kentucky, d; Far
mers' Loan n; Morris Canal q; Erie Railroad new,
full, ~ and Long Island, a. 1t will be perceived that
the closing prices to-day several per than
those Of Saturday last.
We have received the annexed communication re-
atvs to the tegraphic companies which throws some
light upon the operations and present condition of
the Albany and Buffalo line, from its CONNER nee
ment -
New YoRK, ALBANY AND BUFFALO TELEGRAPH Co.
J. q. BENNETT
Sirln your paper Of 10th instant, notice you say
q telegraph companies: "We have had many inquiries
addressed to OF late relative TO tho electric tele
graph companies as to how far they dividend pay
ing concerns. We wish that we had some information
TO give in reply to these inquiries; but must plead
much ignorance and great want of knowledge, on this
subject
AS you seek information this subject allow to
state very briefly few facts respecting the New York
Albany and Buffalo Telegraph Company.
This line is $40 miles long capital stock is $3.50 6o0
has been in operation one year and eight months to
May LIST, 1s4S has paid the stockholders eleven per
cent on the capital and has also paid out of the
ings over $4,000 for MISUNDERSTANDING that,
had all the earnings been divided it would have given
sAo oeochnoiuers ABOUT nineteen cent on the
capital
may be proper to remark here that when this line
was nrst constructed the patentees thought copper
wire was the best material that could be used on
trial 1t was found that iron wire was equally good as
conductor, very much stronger, and, conseaue ntly
much more reliable and the company bel ng anxo1s
to adopt the best and most reliable atev
adopted the iron wire at great nse and trouble
in order to meet the demands and wishes of those who
use the telegraph a means Of communication
Yours, &c. A STOCKHOLDER.
This is all very satisfactory so far as this company
10 eoncerned but should like to know II there IL
not such a concern in existence the Boston and
New York Telegraphic Company, something Of that
kind. We lave pretty distinct recollection Of pay
Ing up subscription to the stock of such compa-
ny and all the evidence have since had that
the concern was in existence has been sending bills
for telegraphing, amounting weeks to several
hundred dollars, which have been promptly paid
There is no doubt but that these companies are ex
ceedngy productive and profitable and are able to pay
large dividends upon the cost of constructions but for
some other, the Boston company have never
divuged any of their financial affairs and the stock
holders are ignorant Of anything connected with the
appropriations Of their payments The line has for
the past two years been doing large and, Of course
profitable business This know. All beyond is dark
and ~ystatnaA