The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-05-26

MONEY RKET.
SUNDAY, May 25-6P NJ
Very little of interest has ranspired in the stock
ct during the past week. Prices have experienced
bout the usual fluctuations, but do not exhibit much
aration compared with those current at the close of
week previous There is speculation in the
ct The bulk Of the transfers Of stocks daily made is
broker to another and that class Of operators
probably larger holders at this moment than any
evious period within the past two years 1t is there
re, important to them that upward movement in
rices should take place at the earliest moment We
ave, for time past, been unable to arrive at
Glory CONCLUSION in relation TO the future Of
stock market. The absence Of any speculative
tement at Of the year when more or less is
suay OBSERVATION-DISCLOSURES particularly when all the ele
tents of speculation in such sound and healthy
ondtonis matter calculated to excite considerable
rprise. Any amount Of money be obtained
a moments notice, at the lowest rates Of inte-
st, upon the right kind of security. There is
de margin for Improvement in most Of the leading
ABROAD stocks; the outsiders generally, made money
uring the last speculative movement in the fancies
I'D appears to though the time not far dis
mt when prices will expand as rapidly as at any
erod during the past two years In the event of such
state Of things great discrimination must be used in
selection OF stocks for operating in There
upon the list, which it would be dangerous to touch
present prices, ten per cent below, while in
theirs there is greater margin for improvement
RE Railroad, Reading Railroad Farmers Loan, Canton
Cnpany and Morris Canal would not be safe to touch at
resent prices at considerable depreciation
lille Harlem, Long Island Erie Railroad bonds Of ali
inds Edgeworth Co., Norwich and Worcester have
khin themselves such elements Of improvement that
NJ activity in the market must give them upward
npetus Of considerable Importance.
Erie Railroad stock Is without doubt, the most in
ated fancy in the market it Is astonsh
'ent TO many how it is sustained. 1t Is nothing
less than fancy Of the FIRST water for it is well
nown that the company never have earned dividend
nd in the estimation Of many will The dividend
pe the let Of July will be paid out Of the capital
cYetofore. After that time all the dividends stock
elders will get, must come from the net earnings
ume out Of capital, and go into construction account
sading Railroad very uncertain stock for outsiders
operate in 1t fuctuates suddenly and largely, and its
and earnings subject TO many contingencies
bat We know not what change week, day may
roduce in the market. 1t Is therefore, dangerous
sury to touch but to those who not deferred by
risks with the chances Of great profits great
sses, Reading Railroad shares certainly offer induce
pents Farmers Loan is . stock in relation to which
cry little Ii known II Is control led by small clique
peculator Is Of doubtful value subject to great nuc
nations and Is a dead weight In the hands Of holders
he company holds large amount Of valuable property,
,oet Of which II unproductive II has hand any
usntty Of lawsuits, involving immense amounts Of
ey upon the result Of which depends the value Of the
took 1t i however, better security for spectators
deal in who very little about the real value Of
ny stock as It nuctuates more and Is easily
aged than stocks better known in the market Canton
o. has been working mp for several weeks past, aud
olders appear TO have considerable confidence In IL
ne regular annual meeting Of the corporation will DO
cid at Baltimore on the 9th Of June. meeting Of
astern stockholders held In Boston few days
and twelve delegates chosen represent the
ockholders Of that city and vicinity, at the annual
pseting. We shall probably have a report Of the
proceedings Of the corporation, when those ints-
,sted viii be better able To judge Of the value
T their investments. The fluctuations In this
lock have, within the past twelve months, been
) enormous that many have been ruined, and
o good Why similar results should not follow
milar movements. Canton Company may be, for aught
know to the contrary, very good tock TO buy and
eep for a length q time but outsiders Of moderate
beans who buy time than they pay for when
ne viii, In nv. out Of six be completely cleaned
ut. Morris Canal Is shaking in the wind. The old
ock is in a very doubtful position Consolidation will
BON take place, when share Of stock viii be L.
for four Of old What effect this will have upon the
IMPRESSION Is that the consolidated stock viii not sell for
.ur times much the old stock.
In relation those stocks In which the margin for
IL sufficient TO attract outside specuators there Ia
ut opinion among those who have thoroughly nves
gated their affairs Harlem H. At this moment, six
r cent dividend paying stock its par value, and
here IL doubt but that the semi-ann dividend,
ayable the let Of August next, will be three per
ept More than that per cent will have been earned
v that time and there viii be surplus enough af-
Fr paying IL, for any contingency; and In view Of
he future productiveness of the road, the direc
prs give reason, that win be satisfactory to
be Stockholders for declaring n semi annual divi-
end lees than three per cent The semi-annual divi-
last year two per each and the increase
earnings thus far this year has nearly equal TO
additional two per cent for the whole year on the
IA stock. The Harlem being full six per cent stock
It's par value is at present prices Of the cheap
In the market. Long Island offers great inducements
spectators and purchasers for permanent investment
he debt Of -ths company Is only three hundred and
fventy-on thousand dollars and Il has on hand cash
pough 70 meet the outstanding obligations now due,
en to become due, well 10 provide for the
ry expenses incurred in laying the Jamaica track
d repairing the residue Of the road The gross
gs thus far dis year show large per cent increase
those for the corresponding period last. The net
rnings last year 1850 amounted TO s5Oesi U.s. equal
dividend on the stock, after paying interest on
bt, of per ceN the present market
ice This year, the net earnings will not be less
an seventy thousand dollars which win give hand
me dividend the stock. An arrangement has
en- made with the Brooklyn and Jamaica Rail
al Company BY which the rent paid to that
mpany from and after the ist Of February, 1851 l.
teriay reduced Under The former a. arrangement upon
estimate Of $4,000 receipts Tor 1854. the Brooklyn
Jamaica Railroad Company would recei rent for
yCsr, s2957l ~, while under the present. arrange
Mt they will receive but s23,10o making difference
the JonS Island Railroad Company Of s041i a. The
penditures mich the company have made and which
now in progress win place the road in excellent or.