The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-04-05
any depreciation in current prices by stoc,, ure,ur

any depreciation in current prices by stocks pressing
sale Holders therefore compelled take every
lot offered which soon becomes great burden Certain
houses In Wall street at this moment loaded down
with fancy stocks and they have not the remote
idea how they TO dispose Of them Hopes have
entertained, until very recently, that outside demand
would spring up, and that the fancies. which
held in such large lots would be better distributed
that those who had started the speculation would be
able to throw the load they have carried long upon
other shoulders where the losses which ultimately must
bereazed would also fall In this there has been great
disappointment; and when the depreciation commences
it will find the fancies in first hands The profits which
have been figured up 20 largely on paper, will
gradually slip away, and holders find nothing
left but the little bits of beautifully engraved
paper, representing many shares of stock in some
railroad or mining company, with a merely nominal
value which upon the imagination OF the
holder. We have known a speculative movement
in Wall street so limited in it's operation the present
1t does not extend beyond dozen two individuals,
who having command Of extensive capital commenced
the imitation with the hope of drawing in outsiders at
high prices In this they have failed, utterly failed and
1t has already become most important question with
them how they to reduce their supplies Of stock with
the smallest possible loss
At the second board yesterday Reading Railroad the
weakest fancy tho list 1t fell OF per cent from prices
current in the morning The efforts which have recently
been made in the Legislature Of Pennsylvania to protect
the creditors of the Reading Railroad Company cannot
but have the desired effect 1t is time something
done to prevent railroad companies from paying dividends
while floating debt rapidly accommodating. The Legis-
ature Pennsylvania dgraced itself the passage othe
act in 1850, permitting the Reading Railroad Company
to postpone the payment of its bonds which had then
matured 1S7o and doubt If there another lcgs
lave body in the country that would have been guilty
Of such outrage We shall if much corruption
still exists in that body bill has been introduced into
the Legislature of Pennsylvania prohibiting the Reading
Railroad Company from paying any dividend its stock
until its floating debt has been liqudated We shall
closely watch the Of this BILL and carefully note
M progress and the result Erie Railroad stock has been
steadily moving upward for days past. The bulls
and bears have had quite contest and the bears have
got the worst Of 1t far The rcpued earnings Of this
company do not exhibit very favorable result The in
for seventy working days this year, amounts
to 1924 4s1-averaging $4,000 per day. At this rate
throughout the the aggregate income would only
amount to $2,512000. To make up the company's est
for the year the average earnings April LIST t
to Dec 31st 1852, must be $14,303 for working days
We leave for those interested to figure the probab
ty Of such result If the bears Will work cautiously
steadily and patiently, they win have cause to com
plain.
The most prominent stock in the street at this mo
ment for one, Is the Nicaragua Transit Company
For time past this stock has been the market
and occasionally few shares sold but prices g
dualy down until points as low 10 and % per
realized. Within the past two weeks there has bee
a complete revolution in the MARKET and advance
more than one hundred per cent has been the result
The OF this Is the rapid increase In business tn
companys line Steamers each side-the Atlantic
Pacfc-go and crowded with passengers and all tn
transit facilities the Isthmus of Nicaragua hav
been most actively employed This with the prospects
the company has created demand for the stock, and
is expected that much higher prices will be reached
the 18th Of May next dividend of between three and ou
per cent will be declared after which regular semi
dividends Of from five TO ten per cent will without doub
be earned The Nicaragua route to California has bee
rapidly growing in public favor In few weeks
new steamships will be put the Atlantic and II
Pacific, when tr monthly line will be formed from til
port and semi monthly line from New Orleans. 1t
estimated that when these arrangements perecte
least three thousand passengers will be transport
across the Isthmus Of Nicaragua per MONTH This at
average charge per head Of $40 including baggage
give gross income of $4,000 per month, anuu
income of S1,44OO0O Of which full one. half will be
profit giving dividend OF twenty per cent. at least
annum the capital stock This is Independent Of Il
income derived from the transportation Of freight, wh
is likely to be very large. The rainy commcnc
in Nicaragua in April and the heaviest boats Of Il
Transit Company will be able to navigate the San Ju.
river with ease and expedition.