The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-04-20
yOMMERCIAL AFFAIRS,
MONEY MARK Z r .

Norwich
and Worcester advanced u per cent; Harlem y Erie
Railroad a Delaware and Hudson a, since last sales
Eric Bonds. 1859 u; Erie, 1871. "a Erie 1862 ~ New
Jersey Zinc a This stock is gradually leaving the mar
ket and going into strong hands for permanent invest
ment The bulk of the daily purchases is made by par
les VINO are interested in the company and look upon it
as property the value Of which cannot be estimated
AT the second board to-day the market quite buoy
ant and the transactions unusually large Zinc Company
went up - per cent Canton Company, 81 Reading Rail-
road, "a Erie Railroad - Harlem =; Norwich and
Worcester i. small lot Of Transit stock sold at 43
Yer cent. cash Holders firm, and offer very
little stock at current quotations. A small lot Of
'honix Mining Company stock sold this afternoon.
ii1S per cent each. This is handsome advance
IN the previous sale, and shows a rapid improve
hen in public opinion relative to the merits Of this
ny and its prospects The price named really
nothing for the stock if half that is reported of its
resources true. The most active fancy in the street
today was Reading Railroad and the improvement in
prices great in any other the list This seems
the more extraordinary, when take into consideration
the fact that there not the slightest basis for the RISE
and that it is purely speculative The demand at the
first board exceedingly active This extraordinary
call for stock understand occasoncd by
ment in Philadelphia to complete the which has
long been approaching the eliminating point 1t GER
tainy looks though 1t had reached its climax Most
Of the floating stock of this company has been placed
the books ut Philadelphia and the bulls thinking they
bad the bears in tight place notified them deliver
This Of created active demand for stock and
the impression is that the shorts have been pretty
well cleared out 1t is true they have been Compel
ed TO pay high prices; but before the lapse of many
weeks they will find the stock plenty enough at
rates considerably below those current The bulls
all the stock and it will be question with them
by and by, what they do with it Without heavy
lorts be may he
put down fixed fact that Reading Railroad stock has
touched its maximum. A leading in the manage
ment of this company visited this city few days since,
and marsaed his force. for active operations his
position was not SO impregnabe as he supposed.
1t appears TO us that should be adopted
by the stockholders BY the Legislature, prevent
those directly connected with the management of our
incorporated companies from connecting themselves with
any combination for the purpose of specializing in the
stock There be justification for the officers of
any company engaging in the gambling operations the
longs and the shorts Of Wall street; is time those
who have for some time past appeared prominently
these peculatons should be generally known by
the stockholders whose interests they have undertaken
to protect We shall he glad when all these fancy stocks
get settled down upon solid basswhen all these
tensve fluctuations cease and they left to the
ru changes of the market 1t will be good thing for
these interested as permanent holders, when Read
ing Railroad stock to be football for specu-
laters. Under the present regime it has been
merely machine which has worked the ruin
of thousands while these who have controlled the move
mens Of the machinery have realized fortunes of their
misguided constituents 1t has been reported that no
iucon would be made this season. in of charges
for transporting coal probably for the purpose of aiding
the imitation in the stock Notwithstanding this it is
well known among the coal dealers that reduction in
prices is in contemplation and they holding back
coal consequence In the event Of contest commencing
between the railroad and canal may look for results
similar to those realized before, under similar crcum-
stances The last weekly report of the anthracite
trade stated that the aggregate brought down by the
Reading Railroad this season. 43o 335 tons against
1920 tons. This is wrong-it should have read 1886
tons ;his season against 81 2o4 the
year. showing deficiency this season Of So ISL tons
The receipts at the Office Of tho Assistant Treasurer
of this port to-day, amounted to S53 600; payments
$2416 66-baance. S3,524,41 81.
The Mechanics Traders Bank has declared semi
annual dividend Of per cent the West Chester County
Bank dividend Of per cent.
The moderate amount of business transacted in this
and other seaport cities, this year is rather favor
able feature il gives all classes opportunity to
recuperae Themselves and strengthen their position for
snyfuture expansion These luls have favorable effect
upon trade Consumption generally goes year after
year, without those fluctuations which frequently ap
pear the Of commerce. and whatever pause
there may be season in demand from consumers
auires corresponding increase in supply another to fill
up the dull inactive is not therefore
such unfortunate state of things many think but
the contrary should be regarded healthy reaction
to be attended with most profitable results For
than three years all classes have rushed headong
into the most e1travagant speculatons Credits have
been most enormously expanded both public and private
We have carried for years the most extraord
nary system OF internal improvements known any
country. We have progressed in all things too rapidly,
and but for the reaction which has recently been realized
Should perhaps before this have been in the midst
Of revulsion About twelve months since there
decided indications Of explosion in financial and
commercial circles. Several very heavy failures
CURED and for time the most serious apprehensions
were entertained. more cautious policy adopted,
and the effect has been beneficial The internal trade of
thecountry in sound and prosperous condition and
ii ia Likely TO continue If not forced beyond judcous
limits. The moderate trade transacted thus far this
Season gives the mercantile classes opportunity
concentrate their capital and make more available.
For time there probably will be accumulation Of idle
eapts which guarantees reduced rates Of interest and
temporary speculatons in Stocks which limited in
their operation and have effect favorable unfavor
Bble upon the legitimate movements of commerce The
banks in periods OF activity in trade employ large per
cent Of their means in stock speculations in tenn
porary loans upon bypothecations Of securities which
be made available at the shortest notice, and
have to give way 70 . legitimate demand for
ney from those engaged in trade. This in
measure accounts for the large amount Of idle capt.
tai OF this moment seeking employment, and the ia
ciitstes furnished for the imitation Of fancy stocks The
opening Of inland navigation may give greater i'm
pctus trade than has yet been realized this season.
and give activity to portion Of the unemployed capital
Of our banking institutions II not. we must wait pa
tieny for another season with tho consolation that
actual loss has been experienced by the delay
The Baltimore and Ohio Railroad Company have estab-
Lshed transfer Office in this city.
The Milwaukee and watertown Plank road have decar-
cd dividends amounting TO ten per cent, since January
last Plank roads in every section Of the country have
proved most productive the stock among the best
Investments of the