The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-11-04

loss to imagine. IT 1T be original it sho ~ how
great painters are often unli ke themselves.
SpecuIatiOns In Europe.-The Revival of
Joint Stock Enterprises.
From the London News Oct 10
We have several occasions drawn attention to symp
Joint stock enterprise and within the last few weeks
further development Of this spirit hes place
extent which deserves especial notice. as already forms
circles As far be ascertained 1t appears fair
estimate to fix the total amount Of capital required
the new projects that have made their since
the autumn of last year at about ESQ 900 sterling
(Sl5oN000O) excluding, however from this list such
from their never having been heard Of in the market be-
yond the mere issue Of prospectuses and little agitation
in the way Of advertising 1t to be conceded
great Inducements held out has this time been ex
traordDary quiescent and that the capital for
the capabilities Of money market Yet, at the
time cautious Of business beginning to observe
that these new projects are coming out fast and to
counsel moderation 1t is obvious, however. that to at
tempt to form estimate OF the amount Of capital
moved from the market merely By throwing together the
sums required by companies and then striking q
total would lead to very inaccurate Conclusions
introduction Of q scheme to require q Ger ain
amount Of capital is one thing but TO obtain IL is an
other Indeed, 1t would be somewhat difficult point
out dozen Of these associations that have really OBJ
tanned the entire required that have
from bona de applicants the entire OF the first install
Eent, where the calls spread period of time
few Of the French railway companies that have secured
mining
companies that first made their appearance and sundry
Of the banks and lately started stand in pro-
liability In this enviabe catalogue but in the majority of
instances the is far otherwise. 1t is within
knowledge for instance that than Of the gold
mining companies the of which were so
publicly paraded actually did not obtain fifth nor
even a 1.-THE Of the nominal amour. Of their capital.
The nominal capital Of all tho gold mining for
California Australia and New Granada that have been
started since the Aqua Fria Company took lead last
autumn including only those that have their place
the official list Of the Stock Exchange is E2 100000
in its shares unless 1t has at least thirds Of its
capital subscribed for but is we'll known that settle
ment has in several GASES been secured without this pro-
portion having been by raisedin other words
BY the adoption Of various subterfuges familiar to the
promoters Of joint stock schemes who have found
the bankers II reduce estimates Of the money
raised these companies f1 We shall probably
be nearly correct, but Of this considerable
portion has been raised abroad as in the Of the
Nouveau Monde and other companies There are in ad.
ditisn several gold mining associations Californian
and Australian, which have not yet taken their
place In the official list, owing to their not
having obtained the requisite amount Of capital aud
raised by these latter 1t may still be fairly that
the entire capital taken of the market by the gold min
ing mania as It was termed was considerably under two
bly, have scarcely anticipated after the prominence that
has been given to their issue and during
the last twelve months There be in fact no more
conclusive proof Of the dstate Of the public spscua
ton up to the present period than the reception accorded
these mining lee after the
vanished with surprising celebrity and II take the pre-
cent market value Of the entire capital embarked in this
branch Of adventure, find that Is actually at
heavy depreciation And hear it generally observed
that the speculative movement has far been mainly
confined 10 comparatively small number Of persons,
the general public having taken little interest In it,
According TO the beat information obtain It ap
pears very improbable that the actually raised Tor
the whole Of the undertakings amounts in the aggre
gate to anything like thirty millions consideration that
viii go far to calm any feeling Of anxiety that may have
been sDgendered On looking at the class Of undertak
h~vo
port We are at once struck with the variety Of objects
contemplated The cry not former OCCASIONS in
or home or foreign railways the contrary the sssoc
ations Of extremely heterogeneous character
brscng variety Of conveyance companies such
always steamboats, and cabs and omnbuses pro-
jects for docks banks teegraphs mnes brewees emf
grafton insurance canals reclamation Of land improved
timber improved light, chemical and other mauares,
rmetng works. stone qusrryiDg, engineering improve
ments besides variety of Other schemes
to mention, comprising even Crystal Palace
and an Opera Association. There has also been
spripkling OF foreign loans, but they have all been
Austrian have proved sgnay successful that needs
prophetic capacity to forete that shall have many
railways. At home our iron net work system has been
very extensively carried out, and the example is at
length being actively followed BY various States both Of
the old and world the governments Of which
alive TO the importance Of encouraging railway enter
nd bs S.ys 81
tance Of English capitalists to considerable extent
and many other States following in their wake Por
tugal Spain, Norway Russia Brazil Peru Switzerland
Canada Sweden Denmark. Sardinia Naples, Holland,
Belgium, the Roman States aud Turkey DER
stood to be looking to market for tho OF inn
proving their system of aud the list of
States that also selves in the
but in less degree. would be still lengthy When
traffic prospects dividend guaranteed by sol-
there be little doubt OF the capital
being obtained under present at least but
hough the investment be good and tending directly
to the encouragement OF our own country by promoting
that OF other States besides giving stimulus to iron
trade, 1t s still in connection with these foreign under
takings that apprehension is chiefly entertained IL
must be borne in mind that II, in former expe-
rience nordnate amount OF capital is sunk in earth
work and stone and brckwosk at home the money Is in
fact turning in Circle the laboripg classes. and many
branches Of our trade and manufacturer reaping
sibe direct benefit, whereas when capital IL des
patched abroad. these accompanying benefits expo
riepctd In minor degree only, while the prejudcial
effect money market and trade Is greatly increased
Under these circumstances and In view Of the
undertakings Of mi celaneous character that being
projected In connection with the United Kingdom and
the colonies looking also to the nct that home rail-
yyng 1t may be doing good service to suggest caution In
connection with the applications for money preferred by
foreign States. either for railway or other purposes
Unless his caution is observed may certainly look
forward 10 4 period BY means distant, when cur
morry market and an inevitable consequence our
trade and every class Of the population will seusity
suer The progress Of enterprise Ia At present Watched
with great psYet by those BEST able to read the money
market ard the whole subject Is one deserving OF peou-
liar attention
PROBABLE MuRprR.-A msn named Daniel
Monday evening" by another named Cornelius Croreyet
tho Of Eat and Grand streets There sad oen