The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-09-05

Some Of the leading railroad fancies have advanced
one or two per within the last day two, and
sales to extent have been made; but they con-
fined entirely to the brokers in the street. have not
the slightest effect in relieving the market We shall
soon reaction the bulls will find 1t impossible
to carry stocks at better prices when outsiders do net
make their appearance. The object arrived at in
getting up this movement IL to attract outsiders and
If 1t fails fail it must the decline will be full
pid as the advance has been From the outside deal
srr ponse has been made will there be any.
The intelligent merchant, and Industrious trader,
and understand without calling upon the members
Of the stock board fer information instruction The
application Of the galvauic machine to the lifeless
body of the mslefactor suly to throw cut Its
limbs and distort its features The effect Of all this
upon the locker Is to him to wonder at the
power and hudder at the contortions, and unnatu
raj upheavings Of tho subject. The auctustions OF
worthless stocks caused by the dealings Of infatuated
burthened bulls produce similar effect upon
the sensbilites Of citizens other. This tenn
porary imitation is favorable for the bears and they
are making contracts time at better prices, which
give rapid accumulation Of interest, and ena-
BILE them to throw the time Of delivery forward into
the inactive winter months The fall rise which has
been looked for snxisusy, will exhaust itself In
these little mutations and reactions.
proposition has made to the Board Of Brokers,
TO call hereafter at the board the consolidated stock
which be of the Morris Canal Company instead Of
the steck and heretofore called at the board The
proposition has been referred to a committee of the
board to report 1t is not generally known that this
movement originates with parties who are deeply
interested in the company, both bondholders and
stockholders whose operations with this company have
always been very profitable, having at one time re-
seved bonus Of 100000 for the Of their names,
In enabling tho company to get from the government
Q portion Of the deposits In consequence OF this,
srge portion OF the stockholders look at the PROPOSE
sion with much suspicion, they cannot the adj
vantage which Is to arise to them by reducing the
shares stock Of the company to fourth the
sent number
The canal and its sppendages stand the present
stockholders about 500 600. The receipts thus far
this render 1t very certain that IL will produce
this year good deal than enough to pay current
expenses and interest on debt And II Is confidently
assumed, that by the expenditure Of 100000, for
which II proposed to issue preferred stock the
canal would be in condition In another year to pro-
duce net all current expenses sufficient
60 pay interest debt dividend on preferred stock,
and xix per cent the present capital Of the company
of 100 co., And yet the cupidity Of certain ind-
vdusls has induced them to make sinister attempt
20 deprive the present stockholders Of threeourhs Of
their stock fret by epdeaVOring to egsiats, and then
By resolving them out of their property However, the
attempt altogether futile that section Of the sup
Elementary act uthoring thu reduction Of the num-
Der Of shares Of the capital stock s without any ques
tiop clearly and stockholdsr need
reduce the number u shares held by him unless he
thinks Il beet to do 60.
There has been fair enquiry FER Sterling BILLS to-
DAY, and drawers lrm at ca 10 per cent pre-.
MUM.
The Jefferson Insurance Company have declared .
semi dividend Of eight per cent, payable on de-
msnd.
The saIasoga and Washington Railroad Co have
declared dividend Of three per cent payable on the
18th instant.
The following statement shows the amount ofieposts
suhct 70 the draft % the United States Treasurer By
returns received to Monday August ~, 1872 together
with the transfers ordered:-