The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-11-26
COMMERCIAL AFFAIRS.
MONEY MARKEY.

Sunuoys NOSs fSO-o f. IVA
The stock market closed yesterday heavy, and the
appearance Of things was anything but fattering-
Government and State securities remain firm, and the
amount pressing forward for sale is not large, and
prices have slightly stinened. Fancy stocks have
been In active demand, and in or two instances
prices have improved little. Farmers loan has ad-
vanced during the week, about one per cent. and at
the second board yesterday, the tales amounted to
nearly two thousand shares, most Of which were for
cash. The advance has no doubt been the result OF
large purchases by SPECTATORS in anticipation of high
prices being realized for several lots Of real estate be-
longing the company at the sale advertised Many
holders taking advantage of this Improvement in
prices and realizing knowing full well that the effect
of such antcipatons is usually greater than the ef
feet of the result. We have doubt but that the
market value of the stock will be less after that sale,
even the prices expected obtained than at pre-
sent previous that event SArewd operators always
take advantage of such movements and realize in ad
vance, previous to the payment Of dividend any
stock Of fancy character many holders sell out for
the purpose of buying in again after the dividend is
paid, at the depreciation the decline usually being
greater per cent than the dividend. Any improve
ment in the actual value of the stock Of the Farmers
Loan Company from the sale Of portion OF its real
estate at high prices is merely imaginary and the
probability is that those who have been purchasing,
in anticipation Of realizing improvement from that
cause will be disappointed. There appears to be no
scarcity Of sellers at present prices on time OF any
other way.
The movement in Reading bonds and preferred
stock does progress rapidly expected Holders
of bonds aud preferred stosk believe that they have
now as good security as tbs company give them
and that is better hold bonds due, than to
exchange them for those having twenty years to run
According to the report made By MIR. Neal, the
amount of bonds due in 1850, was s2,sS7,7oo, aud
the preferred stock, Sl,64s 900. Total bonds and
preferred stock s40o57o0. 1t is proposed to issue
bonds bearing Elk per cent interest," having twenty
years to run, for this amount, secured by second
mortgage ON all the assets Of the company and 1t
is stated that a mortgage to that effect has been
executed 1t is optional of course with holders of old
bonds and preferred stock TO make the change not
and it is by probable that holders Of
per cent preferred stock will exchange 1t for six per
cent bonds having twenty years to rum secured by
second mortgage property that is more than covered
by the first mortgage The additional one per cent
the preferred stock for twenty years provided 1t paid
for that length of time would make quite an item with
holders, and enable them to make sacrifice on It, 1t
opinion that the four millions OF bonds will be Is
sued but whether the whole OF the issue will be in
change for old bonds and preferred stock not Is
quite another thing An increase In the construction
count the psst Elk months, must be provided for in
some way, and the whole Issue of bends contemplated
under the second mortgage, will, without doubt, be
made, Independent OF the old bonds and preferred
stock Which may not be transferred In this way, the
Liabilities Of the company will be increased without It's
appearing that additional loan has bseu made other
wise than In the accounts Of the concern. The
nsgement Of this enormous bubble desperate nsn
cers who do not stop at tries; aud we prepared
for anything in the thspe Of exiragance The report
for the year ending January 1850 will present some
startling facts TO the stockhoit'-s
The Erie Railroad Compsu -epidly progressing
towards that point have 90 eredetsd It would
ultimately reach. The time y Acs far distant when
all snticipstions will be realized The company
have recently made movement Witch will hasten the
crisis and make the crash extensive and more
tended and that Is the running OF branch roads The
Ithaca and owego Railroad has been hired by the Erie
Company for $50 600 year, and the Erie Company
the trains on It, at its expense. The Chemung
Railroad, running from Elmirs to Seneca Lake, has
been hired by the Erie Company, for period Of ten
years for which IL pays eight per cent annually on the
cost Of the line and pays the running expenses Branch
roads have nearly ruined some Of the best railroad
companies in New England, and they will prove mill
stone about the neck Of the Erie Company The Bos-
ton and Worcester the Boston and Ftchburg and the
Boston and Providence companies have been injured by
branch roads, and every company that undertakes to
run such roads will find them expense, instead OF a
PROFIT. The receipts Of the Erie Railroad Company
for November, will not exceed S70,ooo and II the
traffic for the remainder Of the month is larger In
proportion than II has been, the income will be less
than the amount named above. The ten thousand dol
lars for railroad iron transported la Novem
ber was for the railroads hired by the Erie Company
The annexed statement exhibits the quotations for
stocks In this market for each day Of the past week
and the Close of the week previous II will be seen
that quotations have been very uniform the tendency
has been slightly upwards;-