The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-11-01
NJ Oh Il Y n AR X e II.

THURSDAY, October 31-SP.M
The stock market opened heavy, this morning and
became more depressed before the close. There wer
large transactions In of the fancies When VI
lock at the enormous amount Of stock put upon thu
market 1t is surprising that prices were so well sus
tanned. About i've thousand shares Of Morris Cana
changed hands, and the decline only per CEN
from the opening prices Offers were made TO take a
much mere at the closing rates, but there were nd
sellers. Norwich and Worcester fell OF one and
quarter per cent with larger sales than usual There
Is vitality In this stock In which hsders have conn
dence and makes them perfectly indifferent to the uc
tuations. Harlem, Erie, Reading, Farmers Loan in
fact nearly every stock but Government, declined
considerably at the first board The market rallied
soon after the adjournment, and purchasers had to
pay an advance on nearly every stock in the list This
shows the recuperatve energies Of the bulls and Is In
dicstivs of permanent reaction. The money market
continues easy and abundaRtly supplied with cap
ital that any important depreciation in prices for
OF the leading securities is entirely out Of ths
question. 1t is stated in a Boston paper, upon
what 1t considers good authority, that large
orders have been received by the steamship Ca
NADIA at that port from Liverpool to sell Reading rail
read stock English account. We have no ides
what the paper alluded to considers good authority
but nothing of the Hind has reached this market
authentic shape, the probability Is that the report
of the stock There buyers ensush here who have
sufficient confidence in the stock, as a permanent
Investment, to take all the English holders In
any other part OF the world have to sell Delaware
and Hudson improved half per cent North America
Trust u.
At the second beard the market rallied, and thars
considerable activity in some of the leading fau
cies. Erie railroad went up per cent; Morris Canal
from the closing price at the first board; Norwich
and Worcester, y; Mohawk, ~; Farmers' Loan, u !
Reading Railroad u. There was no change In Har
lem.
The receipts at the oce of the Assistant Treasured
Of this port to-day amounted to s72 367 ST. payments
s135 49l 23-BGlancs. S4,1o11s2 a.
The Boston Courier says there is no alteration tol
be noted In the money Market which Is quite easy for
all ordinsry purposes. The demand for stocks is vel
kept up and although some descriptions hesitate al
little the general tendency is towards further i'm
proyement Stocks like the waves of the sea- they
advance and rectde aud In that way show q heathfu
vitality. The food tide Is nov coming In, and one
ttep backwards Is likely to be followed by two stops
forv ard Western railroad stock sold yesterday at
ICE; Eastern, 1O3Jl Mains. 1O7H; Fitchburg, 1l2k
Providence 81; Old Colony 81; ogdsnsburgh 49, YER
mont and Massachusetts, 3its, and Central 331. The
street rates for stock collateral loans from to g.
per cent, and good business paper be negotiated
outside the bank parlers at the same quotations.
First class paper Il not offered"
The receipts of the Morris Canal Company, for the
week ending the 26sh inst, were $500 IS, against
2sl5 81 for the corresponding week in 1912 showing
iBcreale for the this Jsar of Ss2I ST. equal
thirty per cent This increase is most extraordinary
considering that there has Jet been any Increase
in the capacity of the canal. The upward increment
In the market value Of this stock . considered by
many purely speculative, but they probably never
were more mistaken in their lives 1t Is the result
tirey Of the important Improvements about being
made In the canal and the enormous Increase In the
value Of the compsny's dock property Jersey City
Millions upon millions Of dollars have been expended
upon this work most Of which has been unproductirs
and would continue bu. for tho additional expcn
diture Of several hundred Thousand dollars along the
line Of the canal The amount necessary to make
these Improvements has been raised By issus OF
preferred stock bearing per cent interest and wig
be expended asfollows;-
MoRRm C.sn-Cosr or IMpRovrnrNrs
Bnlsrgsnspt TO be completed between
Nsrark and jersey city, estimated to
Re. constructing the remaining ten planes
wet q summit, at $4,000 each. ...... 10000 90
strsnsths ming the ten old planes east OF
the summit, at $500 each, and sum.
NIT planes, each $1,000. ........... 5000 90
New squ.cuet over Pomptcn river; ....s 100 90
To raise the banks at all places where 10
has not been done, so AZ TO hold feet Of 49,
Perry scrsss Delaware river, 70 be deepen. WV w
sdb feet atiOr water ............ 5000 90
Making totalof $4,000 90.
BY the expenditure Of this sum the canal would be-
rendered competent to pass boats from Esston TO Jer-
sev City, loaded with seventy tons-the average car
goes passing east however, would not probably exceed
sixty.fve tons
The great difficulty this Company has hss TO con-
tend against from the start has been the limited ca
pacty Of the planes and II will be seen that most OF
the sum raised by the issue OF preferred stock viii be-
expended in the removal Of that dinoulty The cspa
city OF the cars depends entirely upon the capacity
ofthe planes The new planes vest Of the summit viii be-
passed without su.ctipg the boats TO more than half
the detention that would in passing correspond
log number Of lift locks that the whole delsnton
incident to passing all the planes would not exceed
that Of passing the same number Of IN locks.
IL has been stated that more than two boats eau
at present be passed the old planes saswsrdly,
per hour, loaded with hfty tons each Allowing the
canal TO be nsvgsbs two hundred days and the beats
TO run twelve hours per day and have for the
city Of the canal 5ox2x12x0 600 tons per season;
and the detention In passing tho planes. while per-
forming the round trip, win be twenty three hours,
SAY two days for each trip But when the canal i'm
proved az proposed is capacity would be increased to
esx4xl2x2oo= GA 600 tons per and the dsteu
tion In passing the planes would thes be follows
ssy eleven planes At ave minutes each, IL nfy-
ave minutes twelve old planes, At ntssn minutes,
each 70 one hundred and eighty .inuses; equal 10