The New York herald., 1850-03-12
CeAKERCILL AFFAIRS.


The buoysncy In the stock market still continues.
At the nrt board there large sales and
the leading fAnoies advanced considerably. United
States os went UP per cent; Erie Bonds, new sK !;
Erie Railroad, IL; Norwich and Worcester, u; Morris
Canal, lx; Canton Company u; Harlem, u; and New
Haven Railroad, u. Indiana 5's and Reading Rail-
road fell OF per cent each. Most Of the
for cash The bulls getting the steam up pref
ty FAST and the probability s that Of these days.
there viii be collapse and wide spread destruction
among the pleasant and agreeable calculations formed
Ry holders Of fancy stocks.
The engineers who work the machinery Of fancy
stocks are getting up amount Of steam Reading
Railroad and Morris Canal that threatens explosion
shortly, which must prove disastrous to all engaged in
Il. To all who may have purchased ct lower prices,
oar advice h realize your profits before the orginators
OF the scheme begin and don't let them leave yeu,
this time, in the lurch. On Saturday, Morris fell
ahxes per cent In as many hours, and when Reading
begins to break, there is predicting how rapidly 1t
viii give way 1t Is very easy to realize your profit
while those who planned the game still interested
In keeping up the price; but soon they have
complished their object, (snd one knows at what
moment this may hsppen) it will wilt away so fast
that In the rush to get out all the fanced profits
vanish Each time this trick has been played those
who have suffered hardly realize their infauation
when they look back and we would now caution all
concerned to take time by the orelock and not be left
high and dry when the tide begins to ebb, laughing
stock to the very parties who got them into the scrape
The trick has been played sufficiently often, and has
become thrbre enough to spen the eyes of the most
confding. All say is look out for the engine
while the bell rings" and get oil the track before Is
too late The figures published short time since in
reference to the Reading Railroad showing that with
increase Of capital, in three years, of nearly hve mil
uons the net income had diminished, proves coneu-
sivsly that the late rise is not legitimate but is bub
BILE like ell Wall street bubbles blown up by interested
parties to deceive the unwary.
The only stock security In the list in
which the improvement is likely to be perma-
nent, Is Erie second mortgage bonds, and It 10
impression that they will advance to within three
four per cent Of the current price for the first mort
gage bonds There is good reason why they should
NOT the stock is worth anything the second mort
gage bonds worth much any other per
cent security In the market. As regards the two
mortgage the difference is triaing The great length
Of and the immense value Of the property belong
Ing to the company the whole Of which Is pledged for
the security and payment Of the two GLASSES Of bonds
is sufficient protect them against almost any contn.
gency the only exception Is the plea Of usury and pub
Tic opinion has lately set strongly against that
thod Of quidatpg Indebtedness that no beard Of d.
rectos Of any railroad any other company (not
Long Island Morris Canal and wemight say the North
American Trust IL 1t had board Of directors dare
put In such plea Public opinion is much more pow
erfui than any act of the legislature and hereafter,
to any man, set of men that attempts the repu
diston Of honest and legitimate debt upon such
psltry mean, contemplate subterfuge.
Al the second board, Erie Bonds, old, advanced u
Per cent; Reading Railroad VI Erie Bailroad, u; Far
mere Loan, -. There were larger transactions than
usual At the afternoon board and the market oiessd
tirm.
The receipts at the Office OF the Assistant Treasurer
of this port, to-day, ans ounted TO $1,000 Payments,
Ss936S 90. Balance, S3Ts55s5 IL.
The transfers OF L nted States Stock foreign
count during the week ending the sth instant amount
ed TO follows viz sl00o0 Of the loan OF
1s42 sl22 500 Of the loan Of ls47 se2oo OF the loan
of ls4e