The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-04-24
MON Ely MAR X Z II.


The stock market presents no new feature. The &C.
tive demand for government and State stocks su
tnues, and large lots AZ fances daily change hands.
Mort Of the transactions to-day were for cash, and
holders OF Farmers Loan were crowdng the market
with stock This company is in 4 bad way and before
ten days have elaptcd prices will range in the neigh
borhood of thirty. An injunction has been issued
against the company and the probability is tlat at
the tail end Of innumerablc suits the
will be of little value to stockholders. It's real
estate operations for several years past have been lille.
GAL and as the Attorney General gts though
with the anti-rent suit at Hudson, he will ence
the Farmers Loan. The injunction referred to
from the West. 1t is no k-jobhjng affair,
and during the progress Of proceedings, it will BE-
shown that the recent act Of the Legislature empower
ing the company hold and convey real sssain,
forced through unconstitutionaly, and is therefore
void. Those who have been purchasing this stock at
prices ranging from 80 to 40 per cent, will find
that all have before said about il is true, and
that they had better have taken advice. .
The sales ofthe Erie Railroad Stock today amount
ed To about 1000 shares and it is rapidly becoming
in the hands of the Wall street coubina-
ton The only thing that prices vious to
the recent speculative movement the great dstri
button of the stock the large number Of stockhcders
and the small lots in which it was held great change
has. within the past months taken place In this
and the cornering combination in the stock will
get its I'LL IL easy enough TO buy any stock hut it
has usually been found very difficult to sell large lots
without submitting to sacrifices and this must
end as all others have before it. We have
kno one to succeed yet and the probability is one
never will. Some Of the clique generally gets
alarmed and, in slipping secretly out, knocks away
the underpinnng. and all down together. Asfor
the recent advance in Erie any other fancy stock
being based upon their real merit is absurd and not
Of those engaged in the imitation Of prices believes
anything Of the kind. The reports daily circulated,
relative TO the receipts Of the Erie Railroad Company,
ridiculous, they criterion, IL correct, OF
the actual earnings of the road We have very dis.
tnct recollection OF the reports daily put forth Of the
receipts of the Long Island Railroad Company, at the
time Of the great spec uation in that stock when IL
was carried up to So 90 per cent The income said
to BE- about 81 200 per day. and holders very conf
dent the stock would go to par Nothing the tima
was said about expenses, but afterwards came out
that the expenditures about 81 500 per day. The
same result will be realized in Erie. Spectators
should bear in mind that II not the railroads that do
the most business that the most money and
above expenses
At the first board to-day Pennsylvania SIS advanced
per cent; Reading Railroad, /; Farmers Loan fell
OF per cent; Canton Co, u; Long Island u. AZ
the second board, Erie Railroad went up = per cent;
Long Island, n, and Reading Railroad 4 Hudson
River declined "a per cent; Farmers Loan, y; New
Haven Railroad. IL. Some Of the bull organs assert
that Erie and Reading bonds have recently been pur.
chased largely, on foreign account Now this is de-
eidedly absurd The course pursued by the Reading
Railroad Company, in relation te its bonds and the
passage Of the law through the Legislature sof PENN
sylvanis, legazing the payment Of its debts and
protection Of its property from suits the Of the
Dry Dock Bank, and the North American Trust Com
pany, are enough TO deter foreigners from touching
any Of Jour securities tainted In tho slightest degres
with usury However much they may We disposed
to touch our good stocks, they win not touch our
doubtful ones
The receipts at the once Of the Assistant Treasurer
Of this port to-day, amounted to s4A2o3 o3 Payments
~ $50 20 Balance, S479s ISL o.
There is a moderate demand for land warrants snS
We quote Sl23 sl2s The enquiry 10 entirely specu-
latye.
Mayor Of Buffalo has advertised for proposals for
alosn Of $4,000. The interest will be seven per cent
payable scmisnnuay, the principal rcimbursabie 10
equal annual instalments, commencing with 1850
Coupons will be attached to the bonds to be- issued
Proposals viii be received for the whole or part OF
the loan.
The Mayor Of Memphis, Tenn, requests all persons
holding the bonds liabilities Of Memphis or south
Memphis TO report the same to him With the date,
number, and amount Of said bonds or Liabilities
joint stock company. with capital o.. $500 90 are
erecting cotton mill Wolfe river, shoot di.tane.
dies, with all the subsidiary machinery calculated for
lower numbers q yarns aud "a ~ looms The bu ling
viii contain nearly three times the quantity -
chinery above stated and Il is Intended 10 al IL By
additions from time to time
The brokers ofMisaukie buying tae notes ~ the
Farmers and Mechanics Rank one pei oest discount
The bank continues TO pay specie notwithstanding the
powerful combination organized 60 operate against e.
Counterfeit sss Of the Rockingham Bank. Ports
meuth ~ H. are nov aaoat in addition 10 he worth.
less s3s on the same bank recently noticed
Bosts were loading at Buffalo on Friday la.i a nny
cents on -four 60 Albany and fifty eight cents 60 New
York Last year at this time Gfty .fsv cents to Al
tany was the current agurc
The annexed statement, exhibits the amount q; risk
on the Let II December isi9 of each insurance com.
rany Of Boston and the amount Of loss paid ~ each
for the year ending December /, 1870
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