The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-02-28
COMMERCIAL AFFAIRS.
NEY MAR Tx EFT.
FRIpAv, February 2y-

rtock saTket Reading and Eric Railroad still ontinus
the most active fsnciss the list; but II is with tbs
groatest difficulty that prices oln be sustained. TIE
clique which has heretofore been 40 necessary In In
fatng prices for Erie Rarosd stook at present remain
insctiye, and the leading spirits ia that company OF
tpecuators have intention Of coming in at present
prices Issue of stock to large amount is about
being made FOR the purchase of iron snd for the
ssucticn of turn-ous double track, o and as large
portion Of ,his new stock Is likely the market
at once those who intimately acquainted With tho
movements Of the company prefer waiting the natural
Of things purchase Of Elk thousand tons OF
fsibo1d iron bns just been concluded by this company
1t iortyve dollars per ton payable in stock at It's par
value This amounts two hundred snd seventy thou
rand dclisrs. 1t is estimated that nearly million CT
dollars Of stock will be issued In the Of the
next twelve months All this helps ths boninodsrs. 1t
gives them better security for ther nvsstnsnt but not
with tbs old stockholders. Every million Of dollars
Expended the read iii value is received for t) odds
re much to the Hecurisy OF the bondhoisrs when The
expenditure is provided for BY new issue of stock
This puts larger quantity Of stock on the market and
mskef IL more difficult for spsoustors to control.
The operations Of the movers in the Reading stock
have Of late been tame and spiritess We confess
selves disappointed. We imagined attempt would
have been made this to carry the stock to higher
point. To accomplish the purpose Of SUCCESS
fully 1t 10 requisite there should be pause in the
movement. Corners resemble fevers-thsy :h their
crisis rapidly a. rapidly subsdo Ii the excitement
rot continued it respse, into tesbleness and debility
We advise the ccrperers to make desperate effort and
carry the etock something higher; but under ths
Impression they Will rot oeuds the public into Joining
them However IL is tbs natural course and supposs
they determined 10 pursue the phantom the close
that the reaction nsy be, 1t viii be, ntense,
rapid, and destructive Ths end Of all such operations is
invariabie The parties undertaking them accumulate
CT their hands an enormous quantity Of stock, and
at length end they have no market for It's dis
peal We witnessed the effect of similar move
ment recently in the Eris stock About three
months tiroe powerful eonbinaton possessing abb
lily to hold the stock purchased largely Of that stock
withou. bypothecstipg share Taay succeeded in
advancing the price to nearly 80 per aud when they
had placed 1t there, market found. They had in
the MIDST OF apparent produced inanition
When they ceased buying the stock iessa and is
only By fresh purchases that appearance of AMI
nation given to the stock Finally they loaded
down. and although fully able to pay FOR what they hell
and perhaps much more they became alarmed sc their
position and in spite Of dividend the rate OF eight
per cent per annu which not earned the stock
pidy recsded ia prices. Several Of the combination
quietly slipped cut leaving their friends take care of
Themselves. Guch will be the inevitable conclusion of
the Reading movement There was large interest In
thatstock held in New York, short time since. Tbs
parties who have bought out this interest surprised
at the really unuporsnt quantity of stock to be doll
vered BY the seers time 1t is impossible TO sustain
fancy stock without great number Of shorts the
market The shorts keep up the demand.
The receipts 1t the office of the Assistant Treasurer of
this port to day, amounted TO Sl26 GEO; payments
Slsos1o CO. balance, 81 4264 3T 81.
IRE total Of the assessed value Of real estate
in the city and unity Of Philadelphia subjsct to tsx.
ton, for the year 1852, is Sis 983 1876; furniture
SlSl9i77 money az interest," SIS 954 1872 occupations
s2leo o5s cmolurents Of Office s,4s755; horses and
cows $l7a,z3s; carriages, slsI7o7 making q grand
total Of the assessed value Of real spd personal property
persons, trades professions emolunents OF office SO
Of $l42 7o6t 73
TIE annual report Of the Ptsburg and Boston Copper
Mining Company, to Decsber 1851, gives favorable
account Of the mining operations Of tie year. The
amount OF mineral raised from the rnno during the year.
wac ST. bs Of which 6114 Geo lbs. what is
denominsted stamping ore" $50 400 lbs OF masses ard
5l2 4e2 lbs Of barrel ORE producing aggregate when
reduced to proper condition fer shipping to market Of
16e4s25 lbs s321s TONS averaging sssus sixtyons
per cent and equal TO lbs Of pure copper WORTH
before etng say 1917 cents per ID delivered at Pitts
burgmskng the estmated value OF the years product
sls7sT5 co. The expenditures OF the company for tbs
sans period, for all purposes ether than dividends
amount to the sum Of 1927 10. Th. amount exceeds
the expenditures Of the previous year By SI0s59 TO-
caused msiuy by the erection Of stamping mill and
other necessary improvements,
The Supreme Court Of the State OF Pennsylvania has
affirmed the judgments obtained months since in
the District Court, by the Commonwealth against the
Bank Of the United States The first judgment was for
sloeoo and the second for ssooooo both with interest,"
amounting In the aggregate to about thirteen hundred
thousand dollars. These judgments for the annual
bonus Of 100000 per annun, TO which bank By It's
charter Is liable for twenty years The suit resisted
BY the bank, mainly the ground that having In lsH
made assignment Of its Assets and having CEASED to
perform the functions OF bank It not liable for the
bonus, which wes the consideration for the privilege Of
banking. 1t was contsnded however, By the Common
wealth. that the bank hsi not surrendered It's fran
chIsc. evident from the fact that If kept up tJ
organization By the annual election Of oGicsr furnish.
Ing quarterly statements Of its condition. otcthc cha
ter still whole, and the liability to pay the bonus
wholly uninraired and so the courts bare decided
The returns Of tire Bank Of Ensepd for Feb g. con-
pared with those fer The week previous, show the an
n.xsd variations
BASx ENsIANp
Circulation G3l 657930 Increase s275370
Circulation aclive.,.. 20f3Se e5 Increase. 93 555
Public deposits. atsBs72 Increase. 1881
Other deposits. l22He34 Increase. 1905.
Government securities IN
banking department. Is s2o92j Increase. ISL SIS
Other securities IN bank
10