The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-07-16
COMnERCIAL AFFAIRS.
MONEY MARKET.
Sunday. July 1916 p.

Sunday, July 1876 y. n.
So far as our local affairs concerned, there Is
nothing new. The stock market continues in a cond
ton similar to that have reported during the past
month"; and regards prices neither the bulls or the
bears have had much the advantage Of each other.
The abundance Of unemployed capital, and the favor
able rates upon which loans be made enable the
bulls to carry stocks without increasing the cost Of
them to any extent; while the bears, knowing that
prices rule much above the real value Of the fsnsss
firmly convinced that they cannot long be sustained
1t 10 tho general impression In the street that the
money market will continue easy throughout the
approaching business season; but even with such
an auxiliary, IL Is not very probable that any spo-
culston OF importance will take place in stocks.
IL IL, however, possible that some Of the fancics,
the value Of which is not clearly settled, may BE-
moderately inflated; but railroad stocks, particu-
larry those which known to be rotten and un-
to the core cannot be galvanized they have
been In years vast The obligations Of Railroad COM
psnies In ell parts OF the world have increased
pidy and STEADILY that most Of them burdsnsd
With the ulston einterest that there IL hope
Of relief The competition which has already been
realized in the most den'sly populated parts Of the
country bss forced the companies into expenditures
and into Q reduction Of charges for transportation,
which have materially restricted their profits, In
the face Of increased receipts The operations Of
have thoroughly convinced us that they bubbles
Of the highest order One would suppose from thens-
turs Of the business Of thse the charac
ter Of the property which the stock represents from
their intimate connection with the progress and pros
peity Of the country that they must be the safest
and most productive investments in the Market but
such 10 not the In Great Britain well In thu
country, th,y have been the ruin Of Thousands;
and tbou,sDds are at this moment holding these
IN
be worth something and remunsrsts them for their
long delay II these works economically and
judiciously manage the eost OF construction
known and the works completed, there would be
some ground for bope-Gome probability that ulti-
maely the stockholders would receive dividends; but
these not In proper hand TO enable 10
expect such favorable results. They managed too
much with eye 20 private Interests. aud the stock
holders have Therefore little chance q from
their investments, In any shape They not only
deprived Of dividends but their stock L. deprecated
Thirty forty and hfly per cent The facts which have
come to light relative 60 the internal afars Of
most prominent railroad stocks-ths disappointment
experienced relative TO their esrninss and the rapid
incresse in the current erpendture have destroyed
public confidence In them, aud holders have become
snsious to get rid Of them at almost any sacrifice.
There other fancy stocks In the street based upon
rial estate, which greater fsvortes with .peeu-
iaiors II s possible upward movement TO a mode
rate extent, may be realized in these stocks; bat u
cannot be otherwise than temporary
II 10 Astonishing what q revolution has taken place
In the public mind relative to stock speculatons Of all
kinds and only attribute 1t TO tn. information
which the public have recently obtained regarding
the value Of the stocks which have for many years
been the foot ball Of spectators Some Of these stocks
hsv. been upon the market ten and twelve years and
are, In reality, worth less now than they -ere ten
years since. They have been up and down often
they have experienced such sudden and enormous Que
tuations-thst outsiders afraid TO hold them aud
for capitalists, they would not touch them with
ter-foot pole Year after year. holders have been
snxiousy looking for improvement In their
don in their earnings in their profits and In their
value; but have been year after year disappointed and
thy have lost sl hope. aud all patience II is not
therefore surprising that they should be neglected aud
| appreciated In prices.
| The annexed statement exhibits the quotations In
this market for each day Of the past week. and at
the close Of the week previous. The closing prices
yesterday show slight improvement; but throughout
| quotations have been very uniform