The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-12-02
II ON EY N ARK e r.

WEDNESDAY, Dec 1-6P.M
There was very active market to day ut the stock
exchange, and better prices ruled throughout Mica
ragua Transit was in active demand. The sales
principally for cash Large lots Of Erie Railroad
offered and freely taken Parker Vein Coal Company Is
moving up rapidly This company has made most IA
vorable arrangements for the transportation of
to market It's feights will be at least fifty cents per
lees than any other company that the freight
ing Of coal alone hundred and twenty thousand
tons per it could pay six per cent Its capital
At the first board Morris Canal advanced per cent;
Nicaragua, x; Cumberland Coal Company, y; Parker
Coal Company, Il Rochester and Syracuse Railroad, III
Pennsylvsnia Coal Company, H. Harlem Railroad de-
cned u per cent Ohio Life and Trust, q. The
ment Is decidedly upward. 1t may meet with checks,
and reactions but there speculative feeling in the
street strong enough to put prices considerably above
those now ruling this feeling should extend beyond
the limits Of the Exchange, may look for greater
tvity in the fances and much higher prices Money
cheap and abundant and the prospect It's being
SO, and the value still reduced have given
activity to the elements Of speculation aud likely
to have pretty lively times in Wall street
Within . few days there has been a very great and
sudden rise in the stock of the Morris CAnsl Company
and the Of this large and unexpected rise is the
subject Of much inquiry We informed that 1t ia in
consequence of certain verbal agreements recently made
by the President Of the Morris Canal Company with the
managers Of the Lehigh Canal which will to the
Morris Canal the year the business Of hundred
boats more than operated 1t this year which arrange
ment 1t ia expected will make the receipts Of the next
year exceed tho receipts Of this year least $50
Now must frankly confess that cannot exactly
how this the benefit to DO derived from
It, materially increase the intrinsic value of the old
stock Of this company.
Tho receipts Of the canal this year will amount to
with which is to be paid the current ex.
Interest on bonds SoSU
Interest preferred stock 65 900 10000
1t will therefore be eeen that Its income this year
insufficient to pay tho expenses and interest pre-
fcrred stock and bonds And will be ndispensably
necessary this wintr to deepen the canal ut Bergen
Rocks and also to make the necessary repairs and i'm
provements to the bridges the Hackensack and
Passaic rivers, which will cost about $4,000, it will,
therefore be necessary to issue preferred stock to that
amount at least to raise money to pay for these
sary improvements So may be very readily that
the increased amount Of interest to be paid next year
together with the increased expenses which necessarily
follows increased business will easily absorb the
expected amount Of increased receipts and leave the old
stock still to hope for dividend
1t most strange that persons should buy the old
well known to those best informed to the capacity
probable futare business Of the canal that there
not the most remote probabiity-hardly possbity-of
its being able pay the holder Of the old stock
than ten per cent that amount when the preferred
stock Of this companya perfectly secure investment,
which, by agreement can never gay less than ten per
cent dividend par vsue-s selling here and in Phls
dephia for less than par and frequently will pay the
holder more than ten per cent ON amount invested.
The annexed anony letter, purportng to be from
a stakeholder in the Cumberland Coal and Iron Com
pasy particularly RICH We give for the purpose Of
showing what importance speculstors attach to
Woes in depressing initiating the market value Of fancy
stocks generally =
To JAMES GoADor BENNETT, Erq.-
DEAR SIR--In your recent money articles you have
been down upon Cumberland Coal and Iron Companys
taste, considering the liberal consideration you have
been receiving in compensation for notices Of this really
The company has just executed mortgage Of It's en-
tire property including the Maryland mines, recently
purchased to David L. avtt for million Of dollars at
Fer cent per annum the mortgage having three
years to This puts finances perfectly easy,
that there not be chance for trouble in three years
Before that time folks will forget you said any
thing about itpraisiDg it up James Brown, Esq, Of
the firm of Brown Brothers Co il of the trustees
,on can not doubt Is Your artos.
made me buy In, which did at r. am satisfied from
u.s. We can run it up to par and you have mind to
es s ess Ds mig make
prices you make enough cut Of 1t to pay you for
your trouble STOCKH0LDER.
In analysing this document II is necessary to COM
with the first charge that Of receiving liberal
pensation for notices Of this valuable stock There
many people in this world who believe that nothing
appear in tho columns Of paper In favor Of against
anything without consideration, and they look upon
everything from editorial down to advertisement
n.
advertising columns literally for which they paid
regular price Of ten cents per line but in other
way have they paid for single notice that has appeared
In columns and from knowledge Of the character
of tho managers Of that company doubt If they
have any instance devasod from that straghtr ward
policy at all events far the press concerned In
money articles. have published great deal in favor
Of and against the operations Of the company infofma
ton which we have obtained from many different
sources and ready at any time to give the public
everything Of interesting important character
connected with this any other company In regard
to the remark your articles made me buy in which
did ct seventy two all have to say is that he should
have sold seventy put the three per pro
ft in his pocket As to what Of the directors Fay
it is all moonsbine manufactured for domestic consump
ton We beg leave decline the invitation Of the anony
individual to take hold Of the stock and praise It,
to buy at present prices Ths stock may be worth
great deal than 1t is selling at and those who buy
at current prices may make enough out of to pay for
the trouble but cannot afford to accept any the Of
fers Of "A Stakeholder" There many interests
to be restricted one long have
in power protect the public from the numerous
schs which from time to time brought forward
shall use 1t to the utmost without fear favor
The Cumberland Coal and Iron Company Is one OF The
most extensive coal mining in this country and
it impression that its finances get better
regulated and its operations extended 1t will with
out doubt be productive Since the amslgamstion Of
the various coal companies in the Cumberland region
der the Of the Cumberland Coal and Iron Company
the atter ton of tbs directors has been turned the
perfection Of certain arrangements necessary FOR
tebsvc working Of the different mines than to the
ulation coal the market for Immediate pon
The hay maid