The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-10-14

mind thst people are nPs for any movement of
speculative character, aid DO not Assitsts moment
about involving themselves In the most sxtsps,vo,
transactions With all these elements In sstivs s,s.
ration 1t would be very strange speculation Of so
sort was not the result. The widest margin 10, =.
immediate and rapid rise In prices appears IN ths
stsek market. A m.n make or mar himssh In :.
short space Of time Walk street. and the pspid,svs
with which stock spectators are ruined rsesns-
rated, seems to attract individuals who wsuaa -
touch anything leading TO . more certain bat issa,
speedy scquision of wealth Fancy stocks there.
fore favoritss with large class Of speeuatsrs sad
long facilities be easily obtained for saryinC
them, plenty of purchasers viii be found Such y Tie
effect Of the excite ment produced by rising nsrket
that parties who would not touch stock 81 forty md
nfty cent eagerly catch 1t IL at sixty and ssvsntv
per cent The greater the advance, the more sstivs
the market, As will be By the daily reports e
trsnssetions There must sooner or later b an sn6
to all thk. There Is eliminating point In AN fancy
stocks; but 1t Is eur Impression that IL would Dus
any one just now to tell whore that point n N 40
fancy stock on the list. -
The leading fancy stocks ct this moment are Far.
mers' Loan and Morris Canal. The former has bssru
carried mp solely by the efforts Of spsculator and IL
they were wise they would drop 1t where IL is Tho
power that has inflated thus may carry IT,
up further bat prudent operators will without doubt
realise their profits and let those who wish carry tn
stock Morris Canal has advanced within the past tive
three weeks three per cent but the rise has hard
~ commenced Before the lapse Of many weeks tn,
stock will without doubt, be in demand ct prices
ranging from ten to fifteen per cent above those now
current. 1t is not intention to make any
statement to initiate the price Of any stock vhisk
considered fancy; but when the excitement In ths
market has partially subsidized and holders Of stocks
generally begin 20 inquire what the actual Ionns Ne
value Of this stock and that tteck Is shall present
ush facts will be . of consolation and
abstraction to the stockholders Of the Morris Canal
Company partic those who may have purchased
at prices far in advance Of those ruling Those who
are interested now, can get all the Information they
want from Official Harlem Railroad stock has
not moved upwards much lately but prices have been
pretty well sustained Holders feel confident Of
further improvement, and govern themselves seeor-
dinghy Canton Co, at present prices is one Of tho
weakest fances the list. The rapid rise and rapid
fall sufficient to ntmidate operators and detero
siders from carrying 1t long II may ITSELF
but 1t is dangerous stock to touch Long Island w.
literally lfeless 1t appears to be beyond the power
Of gavansm, and that is ing great deal, in
relation to a fancy stock Holders afraid to put
any amount Of stock upon the market fearful of de-
precisng the market value. Erie Railroad stock hso
not varied much in market value; and although
siderable stock has recently changed hands there Id
not that buoyancy In prices one would expect froua
the general tone Of the market Reading Railroad wills
without doubt, reach a much higher price than that
now ruling. Holders appear to have perfect coatroy
oft and can carry 1t up not, just they please.
1t is the impression among the bulls that 1t wis
touch seventy or seventy ave per cent. Government
and State stocks and railroad bonds continue in active
demand. at improvj ng prices.
The Michigan Southern Railroad Company have
issued proposals. for four hundred thousand dollars %
Its bonds bids for which will be received until the
10th Of November next Two hundred thousand dol
lars will be disposed Of absolutely and without
serve, to the highest bidder the company reservine
the right to withdraw the remainder, the offers are
not perfectly satisfactory Parties Whose bids
cspted viii required to psytvsnty eve per
the amount awarded, immediately upon being notified
acceptance and the remsihsr, in equal amounts
the LIST and 18th Of December next. Any party will be-
1t liberty to pay In full at once and interest viii
menoe the whole, the instaln snts, from the
day of payment, mortgage Of the road sad its
sppursnsuess has been szecusd and placed In trust
or the security Of the bondholders.
This mortgage the entire 9Th Of line Of ths
sompsny's road In Michigan, whether already built
hereafter to be constructed and provides that bonds
to an amount not exceeding miisn Of dollars In
| all may be issued-of which amount not more than
100000 be issued until amer the rosd sAa have
been eemplstsd to sturges Prairie "a distance Of lit
miles from Lake Eris) whsn . further amount =
$500 oco may be ksU6 aad vhea the road shall have
|
the State Of indiana further issue Of $500 900 s per.
mittd for rrlayins the track With heavy iroa
rail. The property thus embraced security, con
ssts Of the road from Monroe 10 Hsdsie, 90 miles In
length, and branch Of ten miles 10 rseumssh vhioh
we're built BY the State Of Michigan, at an outlay Ia
sludiDg buildings locomotives and equipment o
about 81, 100000 The company has since added be-
tween two and three miles Of road ct Monroe EXTEND
ing the esstsrly termination from that city 10 the
i lake nd "a ext linz ha o&A III
Gale, westerly TO sturges Prairie, o distance Of ~
miles the road IL to be opened for the present
fall. On the nrst division Of this work from Hsdals
TO Coldwatsr distance OF "a miles the poad h ready
to receive the Iron half OF which, already laid dovu
and the ears are nov running upon II; and the re-
nander Of the division will be opened fast
- the iron can be laid Tbs work upon the division
from coldvssr to sturgss Prairie Is far sdvanesa
that will be ready for the iron the laying
Of the track to Codvater he completed The iron
tss pounds to the ysrd) has all been provided AMI
quantity snfncisnt TO complete the road nearly "a.
sturses has been already landed In Mchigan aud the
remainder viii b there In ampl. season The main
line Of the sonpsnyp road will thss be III lss
In length In addition 10 the recumseh branch Of ten
milss About nty mDes being the entir. new part q
the road vn have been laid with the heavy rail anl
several miles Of the OLD track viii be rsiald Win
heavy iron before the nrst Of January NEXT
No Other mortgage lien Of any Kind exists aeainse
the new road extending westerly from Hnsdals, than
the mortgage srecutsd security for these bouds.
nor thsr. any Affecting the old portion Of he ro.s
except that the State Of Michigan has ues UPON Il
10 the extent Of the portion Of purchase .s,.y su
owing to The State. This amount 10 tvo hundred
and seventJ-nvs thousand dollars. sus vfii be r.v
ducsd- In December next, to too hundred and sny
nou'snd. and is payable In equal ssnissnusI p.y.
msnts but this lion 10 oonsidsrsd entirely seminal
and ss In no way Affecting the vsiu. Of the security