The New York herald., 1850-12-30
SUNDAY, Dec. 29-6 P. NJ.

u n n - - ~ ne
SUNDAY Dec 29-6P M.
The stock market closed yesterday a little more
buoysnt than 1t opened at the first board, but the
bulls evidently shaking in the wind There
siderable activity at the second board aud the bears
sold freely time. The decline tbe past
two days. is Of those reactions which occasionally
occur, upon rising Market and unless there is some
thing In the perspective calculated to have unfa
vorable influence upon financial affairs generally the
depression viii be but temporary, and the bulls
have reaction in their favor The spirit Of specula-
tion has become widely extended the fas asties for
carrying fancy stocks abundant the disposition
purchase general, and the prospect for upward
movement In the spring good that the probability
10 that any depreciation of much Importance will not
be realized. Although fancy stocks are piled up In
Wall street in large lots, they easily carried
long there is demand that takes away few hun
drsd shares daily To keep up this demand it is
ssry to sustain prices and reduce the supply In the
street II possible 1t would be good policy the part of
the large holders of all the unproductve fancy stocks
to let them down several per cent during the winter
months. By so doing they would lay strong founda-
ton to build the spring rise upon give wider margin
for an improvement and induce outsiders to purchase
who would not touch them at present prices. The
dividend paying railroad and other productive secur
ties be sustained without much difficulty, long
pay the current rates of interest the investment
not daily increasing in cost, and IL they
daily increasing in actual valus spec olaton will make
them active; and II properly managed put prices up
at proper times Unproductive stocks at all times
nearly dead weight and the interest account Is
tinusy rum ming against the holder, or purchaser
time, without the smallest return from the stocks
themselves to Offset It, 1t is difficult to initiate
prices for unproductive stocks, unless combinations
formed for that purpose and sudden deprecatons
are so apt to happen, that outsiders who are
not in . position to watch the market closely
frequently have their margins wiped out in
day, much to their sstonishment. 1t is
Of satisfaction to many outside specula
tors in stocks to know tina. they holders Of produc
tive stock-that they have in the perspective some
returns their investments In the shape Of divi-
dends which will enable them to hold In the face OF
depreciation In the market value and II atten-
tion paid 20 this isport.ns etser should not
often hear Of such ruinous losses Ia the stock
ket Another Of the disastrous results Of many
speculative operatans the props snsty that exists to
purchase largely time with . very small capital.
Outsiders frequently buy three four and Ave hundred
shares Of fancy stocks with Just capital enough to
make deposit of i've per cent on the purchase. The
consequences 10, that depreciation to that extent
throws the stock upon the market, and uses up the
deposit. II outsiders purchased only what they
could pay for and put their stocks In their pockets
they would reduce the supply upon the market which
would have tendency to put up prices and secure
handsome profits on the ir Investments The present
system Of fpecuang In stocks calculated to defeat
the very object purchasers have In view and, until
change lie msde outsiders viii invariably have to stand
the brunt Of all losses.
The new route the West by the chain of railroads
through New Jersey and Pennsylvania to oswego,
q trt ~. ~ u.tfn haxt 40 -
tract attention. We have given the distances this
route showing that about 100 miles win be saved In
the distance between this city and Geneva compared
with either that via the Erie Railroad BY the line OF
railroads from Albany to Buffalo.
The following the names Of the railroad compa-
mics who constructing this chain Of rairosds
We learn that the grade through Pennsyvsnis is Of
most favorable character, and will admit of great
speed the whole Line The Morris and Essex Rail.
road Company will own the line from Newark to the
Delaware river, at the Delaware Water Gap-the nine
miles frsm Jersey City 70 Newark being owned BY the
New jersey Railroad Company The distance from
Jersey City to the Delaware water Gap 10 IS miles.
From the Delaware river TO Lsgsstt's Gap, tabout
equal distance or say l5 miles from wilksbsrrs and
Carbondals, Lursrns county, Pennsyivsnis) Is 1
miles, to be constructed By the Lessstts 0sp Railroad
Company. From Leggetts Gap TO Elmirs s - miles,
the railroad to be made by the susqushanna and Dels
ware Railroad Company. The road win strike ths
Erie Railroad several miles east Of Blmirs, passing
through Tioga Point. The branch TO owsgo win leave
the one 10 Elmirs about twenty miles this aide Of
riosa Point. Az this road the Erie Railrosd
at oveso, and there meets the railroad 20 Ithaca
win not be dependent the Eris Railroad or In any
manner controlled BY the operations Of that company
Passengers for ev-so Ithaca, and Geneva will there
fore be enabled 10 pass the line Of railroads
yheu plstsx vithout a mil o he
great rsiirosds running through ths Stats Of Ssv
Yorh kom sast to vest; ana - We have said before
they win about 100 miles between Nev York and
Geneva, compared With the routes nov travelled
The annexed statement exhibits the amount Of oosl
sent TO market from the various anthracite coal re-
sions Of Psnnsylvania, from the eommsnosmsnt ofths
trade In Is2o, the elose Of nsvisstion In 1880;