The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-03-23
CEN MERCIAL AFFAIRS,
HONEY MARKET.


The stock market opened heavy this morning and
prices very unsteady Some Of the fancies went
up, and some went down. Most Of the Transaction
were for cash. but they we're In the aggregate limited
Hudson River Railroad recovered part of the dspre-
citation yesterday, but there were emily few shares
seld Reading Railroad declined y per cent; Norwich
and Worcester al Long Island y. stonngson sd-
vanced per cent; Morris cars y; aud Hudson Rivsc
Railroad. At the second board the market was weak
ana clcsed exceedingly heavy Nothing liz the woslc
sustans prices at prsseAt points bat the abundance Of
money, and the With which loans are obtained
upon even the most doubtful securities. The bank
are very much expanded every in the city up to
Its full line aud tho rapidly with which private Gre
dts are extending Is alarming, and indicative Of tight
times little while hence u Is this steady but rapid
increase In the extent Of individual sbitie, that l.
dangerous, and calculated TO induce those who have
watched closely the progress OF similar movements In
former years to prepare for the crisis turning point
which must, sooner later, arrive. Our banks loan
freely upon fancy stocks which ensS.s the brokers to
carry by bypothecaton quantities Of those
things, and gives them facilities for creating an ar-
fetal imitation In prices necessary TO attract tho
attention Of outsiders Il s about Elk weeks since
the stock market took turn upward and the fsncies
have advanced In rome ins.anees ten per cent and t
Is our Impression that there no more outside pur
chssers in the street than when the movement
first commenced. The brokers have bad tae monopoly
Of the advance and there appears % be no objection
cut Of the street TO their enjoying II exclusively
Tie receipts ~ the ONCE Of the Assistant Treasurer
Of this port to- day amounted to $1,000 So; payments
se2s sa-bilsnce, s42li,l72 Is.
Tn, Hartford and New Haven Railroad Company
have deelsreda dividend Of Eve dollars on each share
u h stated that the Hudson River Railroad Company
will pay the semi annual Interest the stock due ON
the let Of May in scrip instead Of cash. a. haretoore
This Is right and what have always adro,aed and
the management have exhibited moral courage worthy
Ct attention In masing this movement II the Erie
Railroad Company bad adopted the same r,an Two OF
three years the cost Of that road would have beer
e'' than IL Is The idea of paying dividends In cash
out Of the capital, Is pTepOsterous and st b sbaa-
dcned OF will bankrupt every company attempting
The advance In prices for most OF the fsncT
an enigma quite beyond solution. That IL Is purely
Speculative, can fer moment doubt Not the
slightest improvement has taken place 10 the financial
affairs OF any Of the coupsalss and the probability is
that at the close Of the year the returns viii sho~ nc
better result than the last As an instance OF the
Of the rise in Reading Railroad ti,
only necessary to point TO the fact that the whole
movement in that stock lately has been confined en-
trely to srecui.tors In this city Boston aud Phadsl
rhis So far as can learn, do not believe that
hundred shares have been taken By outsiders for in
vestmsnt during the late rice ami the advance has.
been caused entirely by the demand among brokers,
and the transfers from one 10 another IL has been
stated that snce January l 1850 the recset. of this
read have largely increased This 10 doubles. COR
rect; but the cause Of the increase will u uat-y be
the cause ef greater decrease NJ the season advances
There will be, during the approaching season an i'm
nsrse compet'ien among the public work. connected
With the transportation OF anthracite coal and the
price OF transportation must become very much re.
euced The Reading Railroad has commenced With,
stes which cannot be sustained They must either be-
reduced or the miners In the schuyikil region must
suspsnd operations or two evils, the cor psny must
reject the greatest. IL must either carry coal at
much lover rates or " gill have no Goa 10 carr.
Inc Delaware an Hudson Cansi Compapy have
msoe very important reduction In their charges.
ans the cecil Of that company win displsse large
quantity Of ScbuyisIr, aud restrict the sorsump
tion q that description unless prices rule forer au
lsst ear Arrangements have been made for mining.
Immense quantities Of bsuinous coal during the pre-
sent year aud the demand for anthracite coal for.
siesp'inG manufacturing sna many Other pnrpo.est
viii b. mucs rsds.i, and eitpnpOus eeal used in its