The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-04-19
M ON Y M A Il X + II.

FRIDAY, April 1S-6 T. VI.
We have important alteration to report in the
stock market Quotations and operations remain about
the same The European intelligence has had no infiu-
either way upon the movements of specuators and
there does appear be- at this moment anything
the taps calculated to any excitement in the
ket The Erie Railroad Company abut ni hing their
road and opening the line through to Dunkirk. There
has been great deal Of talk in Wall street about carry
ing the stock par when the first through train passed
the road but think those who have been ealcu
ating upon this will be somewhat disappointed 1t viii
be long time before this stock reaches par the regu
lar way Speculation may carry it that point but
there is such immense amount Of bonds upon the
market convertible into stock at the pleasure holders
that any attempt to get up corner must fail. The
bulls are therefore, deprived of this great element Of
speculation and the probability is that prices viii not
advance much beyond current rates Ninety IL high
price fer this stock In view Of all contingencies There
are many other railroad stocks upon the market cheaper
than this at present prices. The future looks by
means favorable for the Erie Railroad Company. Rival
roads parallel roads roads roads that will tap the
main line and draw travel and traffic away from large
portion Of its length likely to be built all Of which
calculated TO injure the business of the com pany
and reduce the value of Its stock The increase of rail-
oads in this section Of country is rapid the DISPOSE
ton TO invest capital in this description of property il
great the improvements continually going In the
method reconstruction and the reduction in expense
sutng from greater experience operate injurious
ly upon those companies which have built their roads
at heavy expense and under great disadvantages The
Erie will always be important rosd and Of immense
benefit TO the section Of country through whish it
passes but have long entertained the opinion that
many years would not elapse before shorter, better
quicker cheaper safer easier aud Of course plessner
route would be constructed connecting this city with the
great western lakes. Several projects before
the public either Of which, II adopted will accomplish
this result Lake Erie be reached by much shorter
route than by the Erie Railroad At least hundred
miles be saved In distance which ensures saving
Of time and money TO corresponding extent
Railroads located in some sections of the coun-
try never will be productive than they are
Other lines will be constructed faster than the In
crease Of business and ultimately shall have per
feet network Of railroads spread the country
Competition withen reduce the net earnings Of each,
and dividends actually earned viii dwlnde down to the
smallest per cent
At the first board day United States 1867 advanced
= per cent Erie income bonds = Erie convertible
Canton Co. z Harlem Il Heading railroad a Eric
railroad Portsmouth Dry Dock, declined per cent
Long Island. y Morris Canal. "A Large quantities Of
Erie railroad stock chang hands to day ana closed
firm at the advance.
The Bank Of New York has declared n semi annua
dividend Of FIVE per cent The Mechanics and Traders
Bank, dividend OF 81 80 per share.
The Mechanics aud Bank az r. nton has
declared n semi annual dividend Of four per cent.
The receipts at the Office of the Assistant Treasurer OF
this port to-day, amounted 10 SsO3OI 10: payments
s6ss96 3-balanee 81 eo6Sc0 g. The deposits viii b.
very much reduced In few days, by pay on ac-
count Of Mexican claims