The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-04-21
M or T. Y nj A II X Il II.


Erie and Harlem st the vorites and holders feel
confident their ability to carry prices considerably
above those current We do not see those ndica-
ons Of general speculative movement in the prices
usually observable at this Of the year, and the pro-
liability that the looked for spring rise will not be re-
allied the extent anticipated Spectators for
time past have concentrated their efforts upon
two favorite stocks and brought all their influence and
capital TO bear upon them. This accounts for two
three leading fncics advancing while others either
quiet receding In prices. There has been de-
cded Improvement in the money market, and the
that nearly two millions OF gold dust is its way to
this port from Francisco will doubtless have further
favorable effect upon financial affairs The banks
liberal in their favors. and discount larger per
cent Of the paper offered We have doubt but that,
by the middle Of May, money will be cheap and
abundant II has been any time within the past twelve
months. Confidence in fancy stocks may return with
easy money market, and there may be considerable
speculative excitement in the street. but do not at
present discern any evidences Of such a movement.
Railroad stocks likely TO be more in demand than
any other class Of fances. The various companies
earning good deal q money but Is impression
that later competition will make sad havoc
among their net revenues.
There this moment railroads enough In New
York and New England TO answer all the purposes of
trade and travel for the twenty years notwithstand
ing which the prospect at present Il that at the end Of
that time the number Of miles Of rail In the section
Of country will be double what l. There how
ever railroads in operation situated that
other road could be interfere with their
traffic These roads good property and their bust
must increase less every year, future dyi-
dends must be comparatively large. The Harlem rail-
road is Of this class running through valley, lined
on each side with ranges Of mountains II has COM
rete monopoly Of the trac Of the section Of country
through which II passes For the long travel, what
is called through business 1t possesses all the facilities
for carrying strong competition with other roads,
and will without doubt, obtain its share. The New Ia
railroad controls the local travel its line from
point point but not altogether from either extremity
to places the route Competition from steam
boats nerere slightly with this brench Of its business
but by to extent likely to affect its dividends
The construction other roads Is likely increase
than decrease the traffic Of the New Haven Company The
Hudson River road will be subject at all times to co0pe
ttion-Surng the winter from the Harlem road the
through travel and during the from the boats
vigating the Hudson river and from all other roads
nected with the through travel to aud from the West The
Erie road win take great deal Of the traffic from the ud
River road The eastern section OF the central line
Ct roads through this State loses large Of pas
sebger traffic by its diversion Geneva to the Erie
and the western section will experience a similar
loss by the completion Of the line from Atca to Her
nellsvie. The local travel the central line will
be diminished by the construction rival road. TIL
Utica and Schenectady (-outh sd) road will divide the
local and through travel between those points and
the Albany and Schenectady company Il likely to have
a rival in the Schenectady and Cs,sk road which will
divert portion Of the through travel TO and from the
Hudson river which takes Albany in is course.
The effect Of all these movements upon the market value
Of the stock of each company connected with them l.
matter Of much importance to those int, rested.
Movements IN real estate for sometime past have been
of the most speculative character The rice In prices
has been rapid than during the past twelve
months and the excitement among Spectators has been
greater than before experienced The year 1880
was not anything like II, IL was thought then that
prices were enormously inflated but those current
much in advance OF that year they were then
in advance Of those ruling ten years previous We do
not many autographed maps circulated about
Wall street during the former lar speculative mania
and operations carried quietly, but by
means less extravagantly that account We do not
think the epidemic Is wide spread heretofore
that II has seized many persons; but Il RACES In
tain localities with fearful yiruencc without the ghtost
Indications Of temporary abatement Old places
have bee taken In hand by SPECTATORS old maps have
been pulled out and retouchedby the engraver Lots
have been brought into market at high prices turned
from hand to hand twenty times many hours at an
hands ofener during the past twelve months than during
its whole previous existence Prices have been paid that
would have asonishcd every in 1896 and II auos
ton in the minds Of those well acquainted with real
estate oTorationsWhat be done with the property
purchased at such prices TO pay the most moderate in
tercst the investment In Broadway frofa Cham.
bers street to Bowling Green great improvements
have been made. and Il has become the centre q several
important branches Of business Magnificent. and. Of
course, mot expensive warehouses have been erected
and occupied at enormous rents; and Il appears to
us though the seeds q bankruptcy had been sown
broadcast among those who have located themselves In
thai section Of the city Many the costly stores Of that
neehborhood have been erected by the occupants and
the Interest the amount invested with all the other
tAtra1agant expenditures Of those concerns, such
houses w town At rents equally exorbtant carriages
&c. &c, &c, must require large profits. and few
had d,bts, to make both ends meet at the close
q each year. This is not the only part Of the city
where speculation in real estate has run riot Pro-
duetve and unprcductvc property has advanced with
equal rspidity Lots Eve eight and ten miles from the
City Hail. have found purchasers prices almost beyond
belief Lots ten and twenty feet under ledge Of rocks
three ard four miles from the Park have been sold at
siS seven and eight hundred dollars and expendi.
tuTe on each lot. equal to this coet will be required 90
grade thcm. Lots In the vicinity q the High Bridge
trg two three, Ind four hundred dollars. aud
dered bargains these prices In connection with this
expansion IN prices for real estate and natural
sequence rents have advanced average full fifteen
r,r which has alone added the current expenses
Il the population q this city at least Eve millions q dol
hrs for the year Prices FOR everything else hsve ad-
vauesd but fortunately not in the ratios and there
has been universal increase IN expenditure for all do-
nestle purposes II Is very easy T. ten whore this VIII
end Ihe eject ofsuch sxrayssance f. an increase %
Individual iudebtedncss and thousands are At this
living much J,youd their whore year two
Nrea t.cc ouy hundreds Operas and c3uccrts at
cfe trt ten dollars tttot must bo patrouised. eul
sarthF att ry tf tb.m. Ri. Vt dars not follow iiat
H F6tNy vha farrffates III the pitaur. Doe, - tbs
te.'a ~ resrfa slaw e0upoii many 90 taka hau.as
81 M rrntt. in a d. aAbc location. 20 furnih tien