The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-05-24
MON EY M A IL X IL IT L.

TnusspAr, May BOP NJ.
The bulls had a blue time Of 1t, to-day, in Wall
street, enormous quantities Of fancy stocks having
changed hands, at decline in prices varying from
TO Ia per cent This reaction in prices has given the
bears an opportunity 70 take in many of their stoc
Reading Railroad, Erie Railroad, and Farmers Loan
have experienced the greatest depreciation and, as
the transactions for cash large the inference Is
that the sellers short at the top Of the market have
awaited themselves Of the decline TO handsome
profit previous to putting out other contracts 1t Is
such reactions this In the market that prove 80
profitable to the bear party, which they are not slow
In turning TO account. In advance Of twenty per
cent, in any fancy stock half dozen or more rsac-
tions Of and three per cent each take place and
the bears usually sell every two or three per
cent advance they make more money by the fuctua-
tions than those who purchase for steady rise On
advance Of twenty per cent in any fancy, stocks
will change hands full twenty times among the
brokers' while the outside operators usually realize on
the first reaction, and make in the end aftsr paying
interest, very little money.
At the drst board. Erie Bonds fell OF 4 per cent;
Erie Railroad, ~ Harlem, 1 Farmers Loan, y !;
Canton Co, y ; Morris Canal, y; Norwich and wor
cester u; Reading Railroad l Ohio 6s advanced Z
per cent; Long Island, y Hudson River Railroad,
There have been larger operations In the snces within
the past three days than In any one week previous
There must be an immense amount OF fancy stocks IN
the hands Of those who will sooner or later be
compelled to dsgorge them and who are only waiting
10 see whether prices have touched the highest point
or not There il a vast difference between selling
fancy stocks willingly at fair profit and being forced
20 sell At n loss Spectators Of limited means are
frequently forced 20 dispose Of their stocks at the
lowest dip Of tbel market when they have In their
blind confidence refused 10 sell at the lghtest point
and realized good proat. The eliminating point
for nearly every fancy in the list has been reached
and only two three fancy railroad stocks nov rule
higher than they did sin weeks ago.
The improvement In prices for breadstus In England,
reported by the Europs caused principally By the
unfavorable state % the weather The growing crops
throughout Great Britain we're backward, and the
market had been materially stinened by the prospect
Of the cold and wntry weather, but the mantenance
Of prices depends entirely upon continuance Of the
bad weather reported BY this arrival
There we're indications in the street, to-day. that
large orders for American stocks had been received by
the Europa and 80, buyers will probably make their
appearance soon in the market
The receipts at the ofce Of the Assistant Treasurer
of this port. to-day. amounted to si2os0 2s; pay
ments 15Gs5 %; balance. s5,o2s,l2o a. This Is the
largest amount on deposit any time since the essb-
,bment Of the Independent Treasury system II will
n, seen BY the daily receipts at the Assistant reasu
rers oce that the importatons continue very large
the duties averaging more than one hundred thousand
dollars per day.
s,h.r,pson. TO IN. stock Of the Pennsyivans Rail-
read are rapidly filing mp. The number Of shnes ne
sary TO complete the road without resort TO loans
vas % ZOO Of which 8 900 have been actually taken,
AsOo eondtionauy leaving T,43S 70 be taken-s def