The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-11-11
ket during the past week and month:

The course of prices has been irregular during
the week. As general rule, stocks are scarce,
and the bears find difficulty in effecting their de.
liveries. But the public appear to have neglected
the Stock Exchange pending the suspense in regard
to the naval expedition. The prevailing notion in
the street is that dsasters-nnless they were over
whelming-would not operate to depress prices as
much as successes would tend to initiate them.
People seem, in fact more hopeful then they were.
They think they see their way to the end Of the
war, and are not inclined to sacrifice their pro-
perty at war prices. In some stocks on the list
there has been good deal of realizing since last
week. Many operators in Pacific Mail had fixed
upon par as good point at which to realize pro-
fits, and accordingly, when the stock touched
that point, they sold out. Hence the price has
fallen back from par to 9s11l 80. There is no
reason to suppose, however, that this very mer-
curial stock has reached its highest point. The
earnings of the company are larger than they
have been for years. and il the dividends are kept
down to twenty per cent annually, the only reason
for this policy Is that the directors wish to accu.
mulate handsome surplus. Exclusive of the pro-
ct on the charter of the Baltic and Atlantic it is
believed that the company is earning forty per
cent on its capital. Toledo has changed hands
in large amounts during the week. The
road 10 doing rather better than last year, and ne
gotatons are again on foot which may lead some
morning to the discovery that the floating debt Of
the company has been disposed of and that divi.
dends are about to be resumed. Nothing further
has been said about the dividend on the Gaena;
the money for its payment is said to be on hand.
Burlington and Quincy has risen per cent during
the week. 1t seems to be generally supposed that
the end Of the pending imbroglio in which this road
is concerned viii be the acquisition by the Bur-
lington and Quincy road Of the road from Gales
burg to Burlington ut rate which viii make its
whole line Of ESQ miles average something like
$40 900 mile. On this cost the friends Of the
property reckoned that the company could pay
10 per cent dividends annually. Among
State stocks, Missouris continue active the
price averaging from 43 to A per cent-at
which rate the whole State debt could be pur-
chased for 100000. Spectators seem TO
think that Gen. Hunter will not need to fight any
battles to set Missouri straight and that Governor
Gamble, at the next meeting of the Legislature,
win be enabled to present an exhibit which will
prove the capacity Of Missouri to meet the interest
on her debt regularly. 1t constitutes, as is
known, 9 first mortgage on railroads, in actual
opcEnIOH WHICH nave Cupb $eoupU,uVU 10 Oufid.
Several holders Of Erie preferred stock are dis.
cussing project for the retirement Of the assess
ment scrip and coupons held by trustees, under
the reorganization Of this company These are it's
only liabilities presently due, and alone stand be.
tween the holders Of the preferred shares and an
immediate dividend upon the same. Their present
form is such as greatly to impair their value, az
shown by the fact that sales have been recently
made at the Stock Exchange as low as So. It is in
the power Of the company, by funding them, at
once to give them much higher value, and in this
way greatly to advantage their holders and remove
the only remaining drawback upon the credit and
standing Of the company. Such step conse.
quently would be most beneficial to all parties
concerned. If the company would agree to fund
this indebtedness, in, say ten year income bonds,
payable $4,000 annually, by lot, many OF the
holders Of it would gladly make the exchange.
Many Of them are likewise holders Of the preferred
shares, and would willingly take the bonds to be
issued IN proportion TO the shares they hold IL s