The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-07-29

MON EY ARK EFT.

SUNDAY. July 2S-oP. M.
The stock market, during the past week, has been
comparatively quiet and prices without any material
alteration great many operators in the country,
and holders firm in their demands in anticipation
Of a speculative movement upon the opening Of the
fall IL IL the easiest thing In the world to borrow
money on the hypo.hesatiOn OF fancy stocks and there
e. hardly bank In the street but that has large lots Of
these securities on which they have made loans All
this II very WE'LL long the market continues easy
but the frat turn in the screws would change the
whole complexion 4 things and force out large guam
Titles Of stock How much longer money IL TO be NJ
abundant IL has been for sometime past, Is .
question pretty dincult to answer but the change
may take p'see much sooner than Is generally
anticipated Indications point strongly to strin-
gcncy before the close Of the fall trade aud the pro-
liability Is that Il win continue throughout the win
ter and sphng. II = at times impossible 20 account
for these sudden changes in the money market but
the best indication Of such change should be the
signal Tor all to contract their operations and prepare
themselves for any emergency. IL u nearly two
years stree the market has been sbundantly sup
piled with capital, and the rates Of interest have
ruledlow, during which time public and private
dts have become very much expanded sud large
bank expansion is necessary to supply the demand.
In the event Of the banks agreeing contraction.
the commercial cla would be seriously embarrassed
In their movments and holders Of fancy stocks cut
short In their calculations Of pfoGts.
In our article Of Friday, regarding the Albany
and Schenectady Railroad the amount due on bond
and mortgage part Of the company freight depot
grounds was erroneOusy stated At s2Ogo We should
have said $4,000 in continuation Of our remarks
this subject. we would now observe, that with the
enormous debt Of about $4,000 actually existing
II miles Of road, indepenient Of Us capital Of
$1,000 O00) vita the necessity Of expenditure for
the object stated yesterday Of the further sum OF
sl25 coo ami with the debt which will b. due 10 the
city q Albany Of t2s 900 more many q the directors
deemed u imprua Mt and indeed wrong TO pay divi-
bends until the hnAuces 81 the company should bstter
justify g. especially So when In the case Of almost
every dividend male for the past few years has been
necessary borrow money 10 repleush the company's
treasury for that object when objections 10 dividends
urged tn response Of the Wall street speoula-
IN is stock was IL you do not make dividends you
cannot borrow money, you viii lose credit and your
bonds vn not negotiate whereas II you continue to
make dividends, Jour credit will be good your tonds
negotiable. and above all the shares Of the company
will rise to par with facts like these can Il b. doubt.
cd that the present policy Of the parties controlling
the affairs Of this company is TO give fsise value to
lie shares in the market by uujussiaable dividends,
that they may disburthen themselves At the expense
Of innocent purchasers rather than adopt the more
honest Of providing for the payment Of existing
ndebtedness aud the prohibition OF its increase, at
least fer any object other than the compilation Of the
road and the appurtenances absolutely necessary TO
its business IL has long been urged BY Of The