The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-05-26
COM MERCIAL AFFAIRR
MONEY MARK K r.

nearly every inctance fell of At the first board, Erie
Rairosd declined per cent; Reading Railroad. u
Panama kailroad /; Hudson River Railroad u. Canton
Company l. Morris Canal Il Harlem u; Long Island
Il, Norwich and Worcester There were large sales Of
Erie and at the close the tendency towards further
decn" The bears have avaed themselves of depres-
zion 70 take in some of their shorts and many holders
came into the market purchasers arrest II possible
the downward course of prices We surprised
this stale Of things in Wall street is on the contrary,
just what We have been looking for The market gave
WY from its weight decline Of three four per
ceat more give impetus again to speculation and
enable operators in the another excite
ment. before the finally closes AT the second
beard Harlem fell OF 4 cent; Canton Company, "a;
Reading Railroad L; Norwich, II Erie u Most of the
afternoon transactions for cash and the market
cosed very heavy. II is the bears harvesting time
but unfortunately they not largely short
The receipts Office of the Assistant Treasurer OF
this port TO day, amounted TO s11s17s 10; payments
S7s.567 6S-balarce, SSS57.1s7 ".
The Brunswick Canal and Railroad Company Of Geor-
ga is in the markc, for sale Of its per cent cou
pom bonds, amounting to two hundred thousand dollars
They will be slid al auction Thursday the Sd Of June
at the Merchants Exchange The interest these bonds
il payable in this city semi-annualy principal rem-
bursre the lst of May, 1857 These bonds amply
secured and Tie proceeds q the sale will complete Of
h, mast portant works in the country
The city Of Albany has. in its corporate capacity,
leaned its credit the Susquchauna and Albany Rail
road Company for million OF dollars for which the
bonds 2. the city will be Issued, and sold probably in
us market This is the second time the city of Albany
as leaned its credit q aid the construction railroads.
for million Of dollars cach-thc first time to the Bos
.on apd Albany Railroad Company and the second to
the Susquehanna and Albany Railroad Company Near
y every State every city and dozens Of counties in al
most State in the Union have loaned their credit
10 railroad companies for greater less and the
movement lis at this going rapidly than
ever. From the best data upon which form
estimate wo should judge that within the past twelve
months at least twenty five millions Of dollars
add, to the debts of the different cities counties and
towns in all sections Of the country for the purpose Of
constructing railroads many Of which not and will
not be Tor required to develope important
sources Of the country through which they pass This
amount. added to the prSfious Indebtedness created
For simiiar purpose viii swell the aggregate to per-
hsp forty millions Of dollars This, hpwever is but tho
beginning The increase i going the rate of about
aslaon dollars week from which some estimate can
be formed Of the ultimate extent of this movement
Many Of those raroa Dis wanted and it will be
long time before they become productive. There are
Lany of these lateral roads for the accommo ation
Cflocalities, and not for general convenience 1t
easy TO get vote Of the people in favor OF any project
that companies formed for the construction rail
roads solely for the development private specu
culaton improvement OF property belonging a few
private individuals The people laborng under the
deuson that the construction OF railroads 10 sure to
bring plenty and prosperity into every section country
fortunate enough get them. particularly when they
built at the public expense This. however is
greatmisake Min trunI lines important ana ne
cesary but the peope of every town along these trunk
lincs think they mrst have branch running it Being
unable TO lire the mean to construct the alone they
appeal TO The countrys vote OF the people taken aud
issue Of bonds for three hundred thousand dol
lars generally fellows The monty raised by sacriGc-
irg these houdn in this other city the money ex
pended and 1t is possible the road may be completed;
but Il y, follows that it viii pay The projec-
tors do not much whether it viii or not Their
property las bone tied 10y The Llding the road
the rats laid down and the track be used This
If IL rebca to pr perry holders along the line
10 sny Others IN the country; but every holder
Of properly has to be taxed pay the on and
pchurs reoeeni. the principal OF these bonds
The recently taken in Albany on the question of
ndine the credit II the city 70 the Susqreaanna Ra
G, npany show what the feeling i among owner
al real l, viii De by the returns that ow ne
Of property remote from he section which will be ii
Jccy bnetttd by The construction Of this road voed
az ns ii notwithstanding which they will be taxed ana
MT ony taxed but heir property perhaps, injured by
ihis very act Of the Corporation At present all appears
p.opesous. is not difficult to negotiate bonds of any
kind. provided there i. limit the sacrifice; and the
public mind is in such state that anything
of financial character ndlug upoa the Of the
j. pretty Of being carried The very m are
Of poll cal in titutious gives great facilities to spec
nlators u carry ont thcr schemes The elective fran
chise bling a,most universal gives every n voice
those who have nothing at stake nothing ose-iu
ip-ret At eli in the -euare the regulators OF the
matter This j. legal but not Just aud il will lead to
great deal of d,liculy. Inc election Albany a
faudu II; appears by the papers Of that city In
the EIt and Second ds which comprise large por
to Of the busnes part Of the the vote greater
than known before showing that great lnlu-
encc as work determined not to be defeated The
ot,c, = this thing must be injurious Cautious
viii dposc Of hcr real estate aud invest the proceeds
il oiher kinds Of property Taxes in most cities
bg enough uoy without Increasing them by lending the
pul lc ere 10 construct railroads. which may not for
y,ars. il be productive Unless check is
placed upon the influence Of pecuators in the financial
aHsIs Of governments holder estate will never
know they what extent taxation will
be casri,a for he most remote end foreign purposes.
The r.eults which the New Jer-cv Zinc Company are
ra,izue surpa-s not only the expectations Of it.
g,ue friend. but the hopes Of those alcula-
tons in regard the value and prodactiycness OF it,
mineral but recently supposed TO border
the extTnvaGant Commencing its career in field Of
Operations iiavcd to be confined within bounds pa
rrvey it, powers and capacities. under the test
of scontilc experiments have assumed form and
magnitude little l,ss than marvellous rhe least impor
Of the reeul's already attained precisely those
which at remote period in the past, regarded
constituting the highest and most lucrative objects TO-
which the company had been organztd-that is, the
ruactuIc white paints from tn, red oxide
81 zinc Some estimate may be formed Of the
poet which opening upon the company in this partcu
lar branch Of its bunes the fact that with the
limited facilities II machinery in existence they
rnsnu.ae ung the rate Of Coo tons per annum.
Tie price al hch the paints selling yields
profit Of 500 pr making revenue applicable
kfs ain rf