The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-02-07


henson that the receivers Of stocks will not be able
to fulfil their contracts that parties having deliveries
TO make dare not wait to take vantage of any
further depreciation in prices; but getting their
stocks in fast possible and closing up their
counss This drives the bears into the market, and
creates . demand for the fancies, which would not
otherwise exit The bulls have made great deal Of
money within the past twelve months but they dis
like very much to disgorge any Of their Profits The
bears are therefore, afraid Of them and where de-
posits made on time contracts, there is founds-
ton for fears 30 far the bulls have their losses
promptly, but We know not how long they may have
the ability the disposition to do During the past
twelve months the bears have met with heavy LOSSES
and feveral of the strongest houses In the street
have had their capital largely reduced. Every loss
has been punctusly paid, and contracts honorsbly
fulfilled, and 1t 10 exceedingly hard that they should
be forced to make premature deliveries Of stocks
time sales in consequence Of tho existence Of well
grounded doubts relative to the ability OF purchasers
to take stocks purchased at prices much above
rent quotations. This state Of things benefits the
bulls while it is calculated to njure the bears. 1t sus-
tans prices to great extent and prevents more
pd depreciation than has thus far been realized.
This all fortunate for holders Of fancy stocks
but by creditabe to bull spectators gene
rally The bears, however, in the ascendancy
and have prospect of not only making good all the
losses but of realizing large profits. Notwithstand
Ing the great decline in prices the probability is that
they will yet reach lower depth. The fsncies
floating about the street and have literally resting
place. Where and when they will settle down,
man, however great his experience, tell. The
market is fsverish and it is impossible to tell what
day may bring forth fall of two, three, and four
per cent day in all the leading fancss, cannot
tinue long without running hundreds and what will be
the result Of the panic which has seized the minds
Of holders no one predict. No appears
to have nerve enough to purchase at present
prices, for investment or for speculation. or the
hundreds who were go anxious to buy at prices
ten fifteen, and twenty per cent above those
rent, not individual is to be in the market,
and there is full much anxiety to SELL as there
listed six weeks since to buy The difficulty at present
IT, that all sellers and immense quantity Of fancy
stocks is pressing upon the market. This revolution
We predicted, and those who have been governed by
our advice, have no cause to complain.
At the first board day Ers Income Bonds declined
~ per cent; Erie Bonds, new, y; Canton Company,
AZ; Farmers Loan, u Long Island, u stonington,
4; Reading Railroad, III Erie Railroad, 8; Harlem
IN. At the second board Farmers Loan fell off per
cent; Long Island, al Norwich and Worcester, 8.
Reading Railroad advanced per cent; Harlem, 1i<
Portsmouth Dry Dock, a. Most of the transactions
for cash, and confined almost entirely to
the three leading railroad fsncies. There sales
OF Canton, after the second board at &c. The fuctua
tions In this stock have been sufficient to open the
eyes Of outsiders to the dangers Of specializing in
fancy stocks Of any kind. They show that 1t is i'm
possible to succeed in any ering and
affords another illustration of the folly OF attem pting
70 control any particular stock. The movements In
Erie during the past few weeks have turned out just
a. We anticipated. The party engaged in oornering
that stock was probably stronger than any ever form
ed in this market for such purpose and the result
known
The argument upon the application to the Chance-
Tor of New Jersey for injunction upon the Morris
Canal Company, will be made on Saturday, the 8th
inst There very little doubt but that the injunc
tion win be granted, and the company compelled to
consolidate the old stock ct There Is way Of
avoiding IT, There is the law and 1t the duty Of the
Chancellor to restrain oil Incorporated companies, in
any Illegal ADMINISTRATION Of their affairs The mana
gers OF the Morris Canal Company in permitting trans
fers Of the old stock make themselves liable notwith
standing which they continue to do 90 with impunty
Until this question is disposed Of 1t would be well
enough to let the stock alone. The frst effect OF
solidAtng g stock il to depress It.
The receipts at the Office Of the Assistant Treasurer
Of this port to. day, amounted to $4,000; payments
s9,25l 10; balance, 81 S4o,1so 9s.
The hfth annual report Of the Macon and Western
Railroad Company Igives very satisfactory account
appears that the road has been managed with great
care and success. The gross earnings for the year
amount to a. and its expenses TO sos s4 90
leaving Its net profits sl0oss1 A. amount equal
TO 10 per the present capital OF the company
which Is s6ae and equal to 10 per cent on one
million and eighteen thousand Eve hundred dollars,
the amount to which the capital IL soon to be In.
creased This statement Of facts mus be most crafty
Ing to the stockholders, especially whsn, by com.
paron Of the business OF 1885, with that Ct ls49 the
folio wing results appear via; increase from pas.
sengers, s2o625 TO- decrease In frsghts, s157o3 &c.
showing total increase of Sol a. The decrease in
freghts was In the downward trips, and was wholly
to be attributed To the deficiency In the crops Of both
and cotton. This fact Is fully demonstrated,
when II shown that the falling OF In the receipts Of
the latter article the road, amounted to 12T42
bales and the decrease in grain and -four In much
greater proportion.
The Albany and Schenectady Railroad Company
have ust completed its last annual report The gross
and net iucons for the six months ending January
31st, 1881, were a. annexed -
ALBANY AVE- scHsSscrApY RAILROAD
Receipts for months ending Jan. a. 81 .sl13155 IL
Expenses OF road .......... 42,os7 20
.s7i,O5s Is
interest paid bonds $40 $50 50
Amount contributed to reserved
fund'......... $500 90
Net earnings for ELK months ...,..... $45,507 50
which 10 equal to ~ per cent on the Ca
pital stock Of the comp any.
Dividend az per cent. ..........,"... 5000 90
Leaving balance of.......... slo6o7 30
The surplus from the net earnings Of the half years.
business to be carried to the credit Of fund
which win leave balance to the credit Of that fund
Of IT, The recepts for the last six months are
in excess Of the estimate made By the directors 10
their report last August, by sum Of 255 IL and
also In excess Of the period OF the
year preceding, by sl7,2ea OIL, viz
July 81 to January 81, sii31t5 II
Do. do. 1860. .,.,..,.. ps ss2 20
hAoess ..'.'''' ''..s.........". fl7,2s3 OIL