The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-05-22
CONF ERCIAL AFFAIRS.
MONEY MARKET.

Sunday, May 21-8 p. Nj.
Some Of the fancies closed at a slight Improvement
in prices, but the market generally was heavy. The
advance alluded to has the result of other causes
than anything connected with the money market
The reaction in Norwich and Worcester was produced
by the rapidity of the previous declines and although
advanced during the week. they were much below
the closing prices several cent above the lowest
those current at the common Harlem ranges
several per cent above prices at the time
last week and this advance has been produced by the
demand for, and the scarcity of, the stock. Within
the past sixty days very large number of shares
been taken out Of the market by of most
wealthy capitalists, and they intend holding it,
permanent investment. The short time that the pre-
ferred stock was In the market before it all taken
and the prospects relative to the earnings and compile
ton of the road have given the old stock position
which its most sangune friends little anticipated The
estimates made by the company, of earnings,
showing that dividend of at least per cent
be paid the old stock next year. have brought capt.
alsts into the market who have absorbed large por
en OF the floating shares The list of subscribers to
the preferred stock embraces the of fifty
two of the wealthicst individuals and firms in this
city, Massachusetts,, Connecticut and New Jersey
Quite large amount subscribed by farmers
in Westchester and Putnam counties The largest
aiHouh1 Idhcu ny iuuiViuuai oE Hrni, was
other subscriptions amounted to 500 OOO
$4,000, $4,000, $4,000, and down to $3.50 This
shows the confidence capitalists have in this road At
the time of subscribing to the stock many became
large purchasers of the old and the the pre-
ferrcd stock had all been TAKEN raised the actual value
of the old more than twenty per cent and there is
very little doubt but that the market value will soon
experience great Improvement. The receipts to-
day amounted to about fourteen hundred dollars.
Other stocks quiet In the event Of Harlem adj
vancing largely rapidly, the ances generally may
improve slightly. Government and State stocks are
firm at quotations-there is little inquiry for them
but there is disposition to force them on the mar
ket for sale. Treasury notes have not varied hafper
cent from two per cent premium for several weeks but
it is the impression in the street that there must be
slight depreciation before the opening of bids for the
now loan, tho 18th of June. The loan will be
probably taken at about per cent premium, and IL
is supposed that Treasury notes will in the meantime
fall to about that point Just previous to the opening
Of bids for the last loan, Treasury notes fell to the
point at which the loan was taken, and there is no
doubt but that the movement will take place
now.
The annexed table exhibits the quotations of certain
stocks in this market for each day the past week
and at the close of the week previous Prices for
or three fancies have huctuatcd considerably, while
the others have remained quite steady
QuorATIoNs THE PRINCIPAL Srocxs IN THE New