The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-12-03

money market enables spectators for rise to rails.
money the hypotbscstion of fancy stocks and gives
them facilities fer carrying large lots which, unde
other circumstances, would be impossible. But wha
can these spectators gain by such accommodations
They may get into their hands the bulk Of every
In the list and ct times may get the in
but they cannot get the stscks the street int
the hands Of those who will them out of the mar
ket and relieve spectators The fancies are now ban
died about between the bulls and the bears The in,
crearg loss OF public confidence 10 pressing dswn the
value OF fancy stocks to an alarming extent, snq
the slight mutations which. from time to time
take place nothing thar those vous dstor
tons which frequently preceds dissolution. Will
these gavanic operations going in Wall street,
it would be well for spectators not sight Of tn
movements going Ia the manag cement Of the affair
Of the companies which these stocks represent. n
prices for ehares fuetuate from day up to- da
and down to- morrowtbere Is no such vacillation
the business OF the The nselves. There is
steady Glow, in insianees 1t is true) deprecia
ton going on in the properly aud resources of thes
companies particularly railroads and there appears
be no possibility OF resisting it Reduced eceipts an
increasing competition not calculated TO euhauc
the market value OF any raiirosd stock permanently
An easy money mayket aud low rate Of interest Il
favor Spectators; but those who purchase any stoc
for permanent inysstment.t took beyond the psesea
abun dance Of money aud trust nothing bat the ac
tual state OF the co~pany The etock of which they
ceSe ia exchange fss ther essi al.
The extravsgsnt stinaJss ~ those who are unfor
tunately entrusted tn, management of our rail
road companies have, NJ d,ubt, induced many "a
purchase those stocks Ct pre-s much above those no
current and the result o. the business of the prese
year. thus far has be n anything but satisfactory,
far from thar antic gaisd (et1s- honestly for int
rested rioives) by those whose lition such as
tive their cat ula 10 GIT. As instance, it
only airy 20 reer TO the traffic of the Erie Raj
road Company for the past two 5nths IL estns
that he gross recei t for October aud November
be $3.50 C0O-$l25CoO each whereas they hare or
been about $4,000 VIZ 1000 for October and $50 o.
for November showrg d. scieney in the est mates
$4,000. Then there ID che Harlem. The estilnat 1
made at the OF 1s4S pat down the gross aIain
for 1919 at S612oe0 The estimates made last Jur
reduced the income or the year TO $4,000, CT viii
sl9l Geo were received n toe drst six months iesyir
s2so,oeO for the Las six months In the estimate f
the last Fix months. thu edrongs for November we
put down a. $4,000 whereas the actual receipt ha
been less than $50 geo IL is con psrison of the es
mates with the results that has opened the Dyes !.
holders, and shown that li,tle faith can be placed
the calculations OF railroad directors In estimates
costs the result 4 in the extreme The rsesip
generally amount to about half the estimats
while the cost IN ysriably two three tim
the original calculations H. in the face Of such result
the bulls manage to initiate prices, outside holde
should not fail TO realize before reaction takes
and the collapse reduces prices below the stsrtir
point
The annexed statement exhibits the quotations q
the principal speculative stocks, for each day Of Il
past week, and AT the close Of the week previous.
win be perceived that prices have tended upwar
throughout the week and clofed yesterday at an a
vance ranging from one-quartsr to two per cent
QuorArIoNs FOR TBn SAiseA.. srooss Ne