The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-01-06
M o N Z Y Nj A IL X K II.

MONDAY, JAM Do +. Nj.
There a eight improvement in quotations for
stocks to-day. The market was not active. Holders
exhibited no anxiety TO SELL and were firm current
rates At the first board Erie Railroad advanced Ia
per cent New Jersey Zinc Company II Harlem d;
Norwich and Worcester u; Reading Railroad 1S; Sussex
Mining Company III Hudson River Railroad u. There
larger sales Of Hudson River Railroad stock than
have noticed for long time, but prices not sus
tanned. They closed at decline Of three quarters per
cent those ruling at the opening but at an advance
Saturdays prices None Of the prices active at
the first board At the second the market
buoyant and the advance Of the morning fully sur
tanned. Harlem Railroad went up Il per cent, Read
ing Railroad y, Canton Company a. Sussex Company "a,
N j. Zinc H. with sales Of several hundred shares The
last stocks will be consolidated in few days,
when they will be quoted The most important
and favorable feature in the stock market, at this
ment the fact that notwithstanding the improvement
in prices very little stock offered for SALE There are
in the street. more purchasers certain securities than
sellers This has not been the case for some time past
and it doubtless most ouraging to those who have
carried for several months large lots Of unproductive
stocks There decided indications Of better state
of things in Wall street. We do not look for much If
any, improvement in several leading railroad securities
they already too much nated but there is class
of stocks which have for long time been unwarrana
bly, depressed in which there is in reality wide margin
for improvement in the market value before it exceeds
their intrinsic value Amy speculative movement would be
most likely to reach the securities referred to first
Among the railroad stocks which have for many months
been considerably depressed the Harlem occupies very
prominent position The regular semia lnual dividend
on the old stock will be paid the LIST of February 1t
will probably be two and half per cent. The net
Jugs weud justify larger per cent but the expenditures
for improvements extensions and repairs have been
large that the direction deems prudent and proper
keep the dividend down to point lower than would be
right under other circumstances. The Harlem road will
probably be opened to Chatham this week The rails
all laid. The market value Of Hudson River Railroad
stock has, doubt been depressed by the recent
disaster the line This company have, since the close
of river navigation been doing very large business 1t
is estimated that the income during the winter will
average hundred and twenty Eve thousand dollars
per month Some changes have lately been made in the
management of this road William G. Young has re.
signed as President and Chief Engineer. Hon Z D.
Morgan unanimously elected to fill the vacancy-to
enter the active discharge Of his duties the ad
journment of the Legislature, until Which time Mr..
Jones' the Vice President will discharge the duties of the
Office Of President. Hugh Mcclellan, of Hudson, re-
signed director of the company and Joseph Tucker
man was elected in his place.
The Erie Railroad Company have given notice that
sealed propt sails Will be received Tor the sale OF new
issue of three millions of convertible bonds upon the
following terms and conditions, vz2o per cent the
day of sae Is do the second of February Is do
the first of March, Is do, the first of April Is do.
the first of May; 10 do on the first of june 10 do
the first of July The Treasurers receipt will be given
for the first payment Of twenty per purchaser
to have the option to pay the whole amount in cash
for which interest will be allowed up to the time the
several instameRts become due. The acceptances of
the company falling due before the first day Of July next
will be received ess the interes in payment Of all the
nstaments after the FIRST The whole issue Of these
bonds amounts to three millions FIVE hundred thousand
dollars payable in ten years from the first day Of ia.
nuary 1852 with interest," at per cent per
payable semiannualy, by coupons attached the first
days Of January and July and convertible into the
capital stock Of the company at par at the pleasure
the holder These bonds issued for the payment
I the floating debt Of the company.