The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-11-28

RuClaOon5 lot I'll xmas OF STOCK securities remain
without any material alteration The easy state Of
tie money market prevents any cpreciaon in prices,
and the high rates ruling prevent aoy further ad-
vance. Good sound stocks already too high, and
capitalists prefer other Investments that are equally
safe and pay better rate Of iateres AS for fancy
stocks they are regulated entirely by the ability Of
holders TO carry them and the amount pressing upon
the market Any slight i'm created by any
movement Of speculators brings out a vast deal Of
stock sndtt il, therefore impossible to keep up the
market or get up any important advance But for the
oheapDess aud ABUNDANCE Of money all kinds Of stocks
would rule ten per cent at least bclos current rates.
The banks have their discount lines filed up to the
highest point and make renewals fast as payments
are made so that little variation for weeks In
the street the amount Of business paper Offering for
sale Is limited but the rates OF discount vary mate
rally the range being from to twelve per cent?
SO much depends upon the character Of the paper Of
fcIed, the number OF it, the length OF time
before reaching maturity the necessities Of the holder
and dozen other things, that the per cent interest
paid in the street paper criterion Of the state
OF the money market aud gives idea Of the value Of
capital Railroad certificates selling in the street
at The rate of IL and is per cent per and bonds
bypoheeated as security In this way the proceeds OF
bonds OF railroad companies realized long before
they make their APPEARANCE in the market. Any
quantity Of these certificates floating about Wall
street Issued by railroad com psues and BY
those ofNew England liza shave CT la 10 per cent is
submitted to for the purpose of raising money for i'm
mediate use by hypothsca.ing bonds aud those bonds
are finally sold ~ 10 aud per cent discount We would
like TO know how much the company will actually re-
alize every bond Issued 1t will be very interest
ing task for some stockholders skilled in mathematics
to figure this up aud give the result.
Tie Governor Of Alabama, In his his message to the
Legislature Of that state, gives very full statement
Of the public finances but says nothing absut the IL
quotation Of ths principal Of the deb, any further
than that the treasury will only be able pay the ia
teres aud that the payment Of the principal BE-
left to some future generation. The balance In the
treasury, the 1st Of November, 1912 amounted to
s52sol6 g. This exclusive Of the taxes for the pre-
sent year, due on the fret Of December, which
are estimated at $4,000, making an aggregate Of
se43ol6 IS. The GovaDor anticipates ga increase Of
revenue for the next fiscal year from varous sources
From the incTeate Of the objects Of tsxson from suits
In which the State Is plsi1tn against tax collectors
and others for arresfsges the amount Of sec OOO
rom unsettled dues sixteenth sections sold In.
amounting TO upwards Of ss5oo COO From the general
government receipts may be anticipated from several
sources. From the two per cent fund, allowance on
sales Of the public lands 81 25o from dividends ars
ing from five per cent government stock some In arr
rears SIC ooo; from unsettled claim, on the two aud
three per cent funa 500 Geo. from balances Of unset
tied claims for expenses In the Mexican 1000 The
expenditures for the two coming years are sstnatsd
In general for the various objects speched at s3l5s57
reduction on this estimate the executive thinks may
be effected Of 81 eco which would leave the actusI
expenditures ofthe treasury for the ensang two years
s2Cs3t7 The Governor advises against any further
Increase Of the burdens Of taxation but an
to the law which viii tend more pletely to egu.lise
It's operations.
The report Of the Treasurer Of the State of Georg,a
iJr 1880, exhibits very fair susplus for the fiscal
year The tetel balance In the Treasury on the 10th
ofoetcber 1912 was s35ies7 So q which only s67 asI
" vas available the balance being In bank stocks rail-
road scrip, ans uncurrent funds. The available ba
lance In hand. October 20 1919. vas s1735l 5ls The
estimated revenue and expenditures, under existing
laws, for the years 1850 and 81, are az annexed ::
fINaNeEs OF GEoRcfi-RFveruE srp ExrsSprrunr,
1901. Estim.ted receipts, including surplus Il
49,. iefs ............... 5000 900
iooA' Lsumsted receipts. ....,.......... 29s 600
, Istsl for two years. ..............s eos 900.
iooV' Estimated expenses including
payment OF $4,000 public
a., =, VtOt. ..s...s.s. .S340400
1901 Estiinsted expenses including
payment az $4,000 on public
"eDS. ssssss. .s.ss...s... $4,000
sses,soo,