The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-10-23


Within the past week two quotations for govern.
ment and State securities have improved, and as
genersl thing throughout the list prices to-day
higher than those ruling the 18th of September
last. In the meantime, the fluctuations have been
from TO two per cent. There have been large pur
chases of United States securities recently most of
which in the fulhlment Of order, foreign &C.
count. Rtmittances to some extent have been made
instead Of forwarding exchange ct the high premium
current for bills Of undoubted credit. All this stimu
lates importation to greater extent than ordinary
means Of payment will warrant.
The immen,e amount of securities held by
foreigners and the rapdity with which the amount
Increasing sufficient to alarm those who have
sight enough to and understand the ultimate effect
Of such state of things. The payment Of interest
these stocks will annually absorb large sum- which
will be from In the shape Of specie in our
agricultural products Twelve millions Of dollars per
annum have already been added to our annual ndebt
edness and Is equal to just so much added to
nuai importations. As burdensome this heavy
payment will be- the payment OF the principal Of the
debt held abroad will be difficult. The proceeds
Of the sales Of stocks to foreigners have been
immense advantage to the most important interests Of
this country, and have enabled most Of in
eorporated companies particularly railroads. to in
crease their indebtedness to almost an unlimited ex
tent. The demand for stocks has enabled US
to Iay for the large imporatins Of the past year,
much more easily than we otherwise could, and
has prevented very extensive expectation OF the pre-
cious metals supply Of capital for the moro speedy
development Of the Of the country is at all
times desirable; but when drawn great extent from
foreign capitalists, II extracts much from annual
earnings as to make the debt exceedingly oncroas.
The receipts Of the Nashua and Worcester Railroad
Company for the month Of September, It has been al
on ali
,sngune expectations Of the friends Of the enterprise
being increase Of about SO 900 over the average
earnings Of the read per month for the three months
preceding the report Of the directors In July last
large proportion Ct the business Of the thrown
to the Norwich aud Worcester Railroad which az.
for the Increase Of receipts on the latter The
Worcester and Nashua Railroad owes its successful
completion 20 the enterprise of the people Of Worcester
and the Inhabitants along the line the road No as
sissuce received from Boston the operations Of
this roadare considered directly adverse to the
terests q that city, dlverting trade and travel as IL
does from thence, formerly passing the Boston
aud Lowell Railroad) 10 New York &c via Worcester
over the Norwich and Worcester and Western rail-
reads
The length Of the Worcester and Nashua Railroad
Is 46ts miles, aud its total cost with the equipme nts
81 $50, 600 $50, GO per mile. The amount Of
the cOmpanys debt IN Jane last was 1855 s73, AMI
their assets a portion Of which only were available
amounted TO sl53 242 The bonds issued on account
q the debt being principally payable within the next
three years will doubt BE- easily they become
due 30 that the finances Of the company may be con-
sdsrsd in good condition. The stock being generally
In the hands Of those who able hold ", IL not
often in market An inspection Of the map will show the
Importance Of the Worcester aud Nashua Railroad
TO the Interests Of the city Of Nes York thu cities
ana towns the waters Of Long Island Sound, con-
Meeting does at the north, with the railroads Of
New Hampshire and Vermont, a. well with several
Of those Of Mascbusetts The cost Of transportation
from Lowell to New York, via Worcester and Norw.h
IL stated at 81 e5 per ton less than Lowell to New
York, via Boston. From Manchester. ". H., to New
York, the ssviug by the Nashua aud Worcester ard
the Norwich and worcester T. stated to be 40 Is
per ton over The lowell and Boston route.