The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-12-02
Deans Columbian Hair Tricophane.
n O EEY MARK EFT.

SUNDAY, December 1-6 p. NJ.
The buoyancy ard activity in the stock market
during the past week have entirely exceeded our an
ticipations The high prices previously current had
induced many outsiders to close their accounts and
withdraw preferIing mastery state Of inactivity to
the risk OF holding operating upon such inflated
market 1t appears however that prices destined
to experience greater expansion and since the close
oflast week an advance of two three and in rome in
stances, Eve per cent has been realized This only
makes 1t more dangerous to hold many of the fanciss
1t has extended the margin for q fall when the time
arrives, and should serve a warning for outsiders
generally to get out in the shortest possible time and
leave the business of carrying unproducvs securities
to the bull brokers of Wall street Outsiders who
been satisfied with all profits have money this
season and most Of them who holders can With
out doubt close their accounts and carry great
money out Of the street. but 1t Is the interest
Of the brokers who large holders, or who have
large contracts to receive stocks at present prices
have outsiders withdraw from the market, rs IL would
compel them to purchase whatever outsiders sold to
sustain prices, and in that very thing would largely
increase their own supply and find Il diicut
Keep up the expansion. The regular bulls OF the
street are therefore using every effort to not only In
duce outsiders not to realize but to purchase more.
assuring them that there IL yet margin OF at least
ten per cent for Q rise.
was otr impteseion about ten days since, that
prices generally had nearly touched the highest points
that not safe to hold much longer that che
bet might possibly stand little more imitation but
the probability Of depreciation was 90 great
that prudent aud cautious should withdraw
and leave the risk to those whose business compelled
them TO take It. Since that time cornering com
binatons have been developed and prices for stocks
generally have been sustained. The movements In
Erie railroad have exposed . system OF stock spseu
lation which, OF late years. has been little practised
In Wall strset In this instance IL Ia. been carried
more by these directly connected with the manage
ment Of the financial affairs Of the company than We
have ever known In any previous operation OF the
kind. The combination concerned In this affair Is
most extensive and the amount OF capital involved is
immense. All the means at the command OF the par
ties engaged In the imitation will be required TO carry
the stock, for prices have reached such altitude
that THERE'S no market outside Of the combin alton
1t s cary enough TO purchase or there sufficient
means at command all the capital stock OF every
incorporated company; but It not 30 easy
to dispose OF II again, and Il IL i'm
preston that all Of those involved In this
Erie imitation win be compelled to keep their
stock. and make the most Of the next two payments
Of interest January and JulyJ or put Il upon the
market and submit to sacrifice. weseldom and any
Of the old experienced operators In Wall street
nected with these cornering combinations. In the
early part Of their career all Of them had hand In
such movements. and all suffered severely for their
folly They have learned by experience to avoid them,
and. like burr ed child dread the Gre More specua
tors have been ruined by this system OF operating
than any other and the result Of all attempts to
any stock. matter what II IT, cannot be other
Wise than disastrous TO all in any way engaged Every
in Wall street IL familiar with the result OF the
Isst attempt to corner Harlem and Norwich and wor-
and many AZ tho.~ eonnectad with thoss
combinations will never from the effects OF
the collapse Of those bubbles A collapse somewhat
similar IL not far distant.
There are strong indications Of upward movement
In Harlem Railroad stock. and should not be
prised to see the effect OF certain operations upon
prices In the OF another week IL stated that
the gross earnings Of the company this year win con-
sidersbly exceed ave hundred thousand dollars that
the usual dividend will be declared In February, and
that the affairs Of the company are In prospsrour
condition. This will, undoubtedly be made the basis
for operations. and n capital enough IL at command
thre is very little doubt but that the shorts win get
twist and be made to bleed freely before the matu-
rity Of their outstanding contracts We have heard
seventy. ave per cent named the mark fxed upon,
BY the parties about setting the wheels In motion
carry prices. Large purchases Of the stock have re-
Gently been made Boston account, and the wire
pulsrs are pretty equally divided between this city
movement, which makes n very different from
that going on In Erie, and that is the difference
In the market vslue Of the TIVE stocks compared
with the actual value OF each. Harlem IL worth
fun " much ~ Erie, notwithstanding which
there IL difference in the market vsiue eftwentyi
per cent which can be covered In the former
before the bubble becomes much In fsted that
In Ere Is at this momen. We would not exchsnee,
ct this moment, Harlem for Erie, dollar for dollar
We came very scar saying share for shsre-spd u is
our nru conviction that, twelve months hence, the
nett earnings Of the former win be double, in pro-
portion to the amount Of capital those Of the
latter. We do not, therefore, lsok upon combins-
ton to put up the price Of Harlem such desperate
reckless operation for the parties engaged . that H.
Erie; but We do believe that the result In the former
viii be precisely similar 10 the latter only net sssh
ruinous extent A few weeks, perhaps one srtvc
WIN more clearly envelope the movements In f,sssH
prominent fancy stocks. as 40
Postsmouth Dry Dock has advanced during ths
past week larger per cent than sny other stock ON
the list and u By plenty ct present. prices
The basis Of this security n landed preperty, most
hvcrshly located the Ohio River, In the city %