Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1857-12-19

DEPRECIATION OF PRoPERrY.-This wear
viii long be memorable as the most disastrous
one 20 the property of our citizens known
within the present century. The only class
OF persons or capitalists that have escaped are
the owners Of real estate well located in the
city, the holders of state or CITY securities.
and the holders of first class mortgages. These
remain firm, while all others are more or less
involved in ruin, by the almost total destruc-
ton or many classes of personal property.
The unwlse capitalists who changed their safe
investments that were yielding them six per
cent annum to dabble in corporation and bust.
ness paper, have had their 'tfneers burnt
so seriously that they now cry dhands off"
and will probably be very cautious about sueb
operations in future. The persons who have
been the proprietors OF the immense expen.
slve manufacturing establishments, find their
investments gone. In many cases the loss is
SO great that the owners have only faint hopes
OF saving anything. Persons in the iobbing
trade md their means locked up in depreciat-
ed stocks OF goods, or in protested notes due
them from suspended parties at the West and
In New England. The mercantile interest
has suffered to as great an extent as any 9TH
er, and commercial men will find themselves
greatly crippled for years. Ships and cargoss
have alike deprecated, and long time must
elapse before the losses are ascertained, the
goods sold, the money attained and the vow
ages settled up.
Then will be seen what cannot now be cor
rectly aseertained, viz: the runious conse-
quences OF the overtrading of previous sea-
sons. Amid this shipwreck OF so many for.
tunes, although all persons of any means must
suffer some loss so intimately is society con-
nected together, there are many individuals
who will weather the storm, and have ample
fortunes remaining. Many of these persons
are looking forward with much interest to see
what dividends will be paid in January, as
they need the funds to meet their bills at the
first of the year.
we hear Of the case of gentleman of this
city who was appointed trustee of the estate
OF deceased person, and guardian Of some
minors, and who thinking safety should be
mainly consulted in the investment of the
funds thus committed to him, sold off the
STOCKS OF various corporations belonging to
the estate and invested the proceeds in State
and city securities where he was sure of six
per cent interest. The appraised value of this
property was about $3.50 600 two years ago.
The difference to-day between the market
value of the stocks sold and the securities
now held by the party, is no less than torty
thousand dollars.
1t is reported in financial circles that the
personal estate of an opulent merchant who
died IN Boston less than four years ago, val
ued in 1854 at $l,SOO, 900, and consisting
mainly of railway shares and bonds, has
shrunk SO much during the two past years,
that the depreciation is more than million of
dollars.
1t is stated that the manufacturing stocks
owned BY a single familyhave depreciated more
than million dollars in value within two
years. The personal property Of many indi-
viduals has faded away during the present
year like "dissolving views, and the surprise
attending the change is similar in many res
poets to that which usually attends those
novel exhibitions. Boston Transcript 7th.