The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-11-27
COMMERCIAL AFFAIRS.
HONEY MARKET.
Sunday, Nov. &c

Sunday, Nov. 26-6 r. M.
There has not been much activity in the stock
ket during the past week, and With two excep-
tions prices have experienced very little alteration
Fancies sppesr to have been deserted aud the atten
ton Of capitalists and others directed to the
securities Of the government These vestments hsve
doubt, been much benefited by the want Of conf
denoe in others and the anxiety exhibited to place
money where It's safety rather than engage
In any thing speculative While this feeling lasts the
fancies win stand poor chance, and the brokers will
have to carry them along the best they can There
il very little prospect of any relief being realized by the
appearance Of outsiders However extensive the means
outsiders to operate the is against them and
as prices dc not begin to revive before the opening OF
the spring, they will most likely wait until move
ment indicates upward tendency in the MARKET
Although prices rule unusually low, the impression
that lower points will be touched detsrs moderate
purchasers for investment coming into the mar
ket It matters very little in Wall street. what the pre-
sent prospective value Of any fancy stock Is 1t
Is not properly held prices must fuctuste from time
to time and In times like these sink to very points
1t Is impossible for the brokers to sustain them and it
is . wonder whore all the fancies which In
existence remain week after week The loss of interest
every year must be immense and up the cost or
these stocks very rapidly Some of the fances
the market have been knocked about among the
brokers for ten to twelve years and In the item Of
interest alone have nearly doubled in cost Notwith-
standing this, the market price is now lower than
has been known for years and purchasers at current
rates have wider margin for an improvement.
Itmay be question with many who are oRamately
acquainted with the position the companies repre-
ssnpg these Stocks whether 1t is pro that prices
become much further depressed; but unfortu-
nately, they cannot reason from such premises but
governed in their conclusions by the position Of
things In Wall street, and the strength Of holders
The hesvisst fall during the past week has been
n Long Island, and that stock now rules lower
than has been known before since the com pletion
of the road The gross earnings OF this company
In ls47 were $l6s o6 about onehaf Of which net
This would be sufficient to pay the interest on the
debt Of the company, and fair dividend on the
ket value of the stock at the present market price
The par Of the stock is therefore, about twenty dollars
per share and the shares corld be so
to reduce the capital in proportion to the reduction
In the price of the stock, holders would at
ceive dividends, and the losses many of them might
experience would be partially made up by returns
the investment. 1t appears to BIO the policy Of most
managers Of railroads, or any other companies, not
TO pay dividends at all unless the full rates of six
per cent can be declared In some concerns they
not particular about earning so much but for
reasons best known to themselves prefer ranking
among the fsnoes rather than dividing the surous II
it is below amount sufficient to make good appear
In the market The only way to relieve the mar
ket Of these stocks to consolidate the shares OF each
at given time at rate to be regulated by the posi-
tion OF the companys affairs at the period appointed
30 that they paying dividends at once,
that the stockholders may receive some remuneration
for their capital Unless something of this kind Is
resorted TO, many Of these will linger along
yeIr after year. and ten years hence the stockholders
will be ss far from dividends as they We do
not sllude to the fancy railroad stocks particu
,srly than to those of even desperate character
% IT h about time something was done to relieve the