The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-12-03
FINANCIAL AND COMMERCIAL.


At the close Of the stock market yesterday very dull,
s.u,ess.d feel ng prevailed There pretty general
oispo. icn to bat there n, buyers Erie and
Reading appear b. the principal stecss operated In,
ssd both show q strong downwasd tendency The latter
IS Will b thirty days of per cent dividend, and Is
selling at l2 IS per discount This is equal to about
n per cens stock which has earned net during
iss fiscal year, twenty per cent its capital When
we such things these then look ut the current
quotations for other railroad ocks 1t appears to that
Wall street is the best market for poor stocks; that the
Sess real value ecur posse the win bring
New YORK Central is eeiog for about two per
above Reading The former barely six pee ceat
s capital, while the latter twenty The former Is
in afr way Of being ruiued by competition while
the latter has perfect monopoly of its business Erie Is
mot bit of to-day than the Gem raj We lis
posed 10 think that u the two companies ave years
hence Erie will be the best and selling f,r the most The
Erie Company its dividends. If 1t does not
any pays none and it running up Its capital
in that way. The New York Central adding to its
capital every by it's dividends and thereby loses
what the Erie saves few years ago, whom erie was
selling 1t 20 % per cent We alone In the oppos
ton. II was - difficult to maSe any believe then
that II was not h ali what IL selling st that
Its dividends earned II Is to make peo
pie believe that New York Central worth 10
per cent, or that 1t does not 1--we per it's
much credit for expose Of New York Central as We
have for e1poss Of Erie.
The European received yesterday spread conser.
nation smong holders Of fancy stocks With all the
notes Of warning thai have been sounded in their ears
the bulls have been caught with loads Of ncies at high
prices. 1t Is most as,o nshDg that men will be bund
to their real interest to carry in these tunes such
stacks Of fancy stocks that they will load themselves
down with such trash, when the mutterings of the
approaching storm are 30 n,tly heard in the
distance the bac of the rising CT ,ud
can be distinctly There is safety In these times
but in a complete withdrawal from active operations.
We would arrest possible every species Of speculate
snd 50 far as fancy stocks 60, the fewer has the
better, ct any time The caution should be prac
tced while the Old World Is convulsed with wars the
expenses Of which upon scale before realized
1t 10 the height Of folly for TO launch out into any
speculation beyond his oital when public credit
likely to be oversraned and private credit restrict
ed Contraction should be the order Of the day. while IT
be done without violence arrangement. If left
too long it will be forced upon the community, aud then
be attended with disasters The By the Atlantic is
not Of eel bad generally cipaed but the
counts forcshadow something which has iel the pnbc
mind vi all sorts Of app ehensions There strong
indications in the financial horizon Of the Old World of
the approach Of another revulsen convulson, Of
ge ater severity and longer duration than the last It
must the rising Of the san IL hosiies
not Immediately ded and tho expenditures
Ut Az tae latter is utey OF the ques
ton, We must prepare ourselves for tho former
The exports of specie from this port last week.
ed to ~ ,o7e, making for the year. 500, 53s 2o5
The Cleveland and Toledo Railroad Company will pay
the interest the Junction Railroad bonds due on the
LIST inst. Mt the CompsDy's Office, Is William street.
The Atlantic Bank has declared divdend Of four per
cent.
The Morris Canal Company received for to Is, to Nov.
2s this year. 1912 7l8 sgainst $3.50 olo the date
Last year, showing an increase Of $50, 70S.
The amount received tolls all the New York State
Canals during the third week in November 80
Same period in o. 100 II
Increase 10 1855 OBSERVATION-DISCLOSURES. $27, e24 70
The aggregate eived tor tolls from tho COM
s've, 49,: .........$2,766 $50 20
Increase in 1850. ACKNOWLEDGEMENTS. $40, isi 81
Statement Of business the United States Assay Office
at New York, Cor the month ending Nov. 80, 1866
Deposits Of gold
Eoaeien coi s"s................'.. y ,aoo
q. : ssul. da drcindins G.iiiarni.
branch mint, bars (sl6i ,0oo)... 2,3S4oo0
Deposits Of silver
Foreign coins NEUTRALITY-SUSPICIOUS.. $500
U. S. bullion, CONTAINED IN 9cldj 1850
Total depotits-pa payable in bars ......... 222 900
/" coins ............. 2,169 900
Total ...................... 81, 1901 900
Gold bars stemped. .................. 2 433 I43 30
Albert H. Nicosys regular semi weekly auction sale OF