The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-03-17
run,pAY, March le-8 p, N

Wan sree, continues in the highest state Of ezeSe-
ment Jocrs Of fancy stocks are in nne SPIRITS anu the
bears notwth landing the rapid rise IA prices seem 20 be
full Of hope confidence There e nothing inconent
extraardinary in thie The market has become 70
much inflated and nearly every stock in the s sc a.
prices 80 far its intrinsic value that the bears do
mot feel at all alarmed knowing very wen that there is
rscd time coming. In the meantime the bulls have
things oil their way; ana each ono has without doubt
figured ont great future which he is to realise
There many slip between the cup and The lip the
truth Of which il verified frequently, perhaps, in
Wall street than anywhere else At the first board to-day
Eric Railroad went q per cent; Canton Co., "a; Dan-
Dhin Coal Co., l. Morris Canal, az; Harlem II; Long
kland, u; stonington ~ Reading Railroad, q; Nor
wch and Worcester, New Jersey Zinc declined r. and
81 Lawrence Mining Co per cent. 1t will be seen by
this comparison that prices are moving up quite rapidly;
and that fancics which have for sometime past
been rather quiet have become quite active and
bueyant. hsris Canal is we alluds to particu-
hTly. It Is extraordinary how these things work It
y opinion that Morris Canal is not worth
either one Of the two figures named for it. Take of
either the right left aud II Is not really worth the
figure left Notwithstanding which see 1t advance
and two per cent aday. This Is only Of the many
wonderful things in Wall street We shall have before
beng, reckoning day. There will be large balances
enc side the other and before they Mquidated,
many will be regularly clesred out and used up. The
sul going ahead too fast and they will find the
END Of the rope In day two there win be, without
sabt Of those reactions usually experienced during
ariSng market, and timid spectators will get fghten
ed and sell out during the panic. The end Is not quit
yet
At the second board the market very unsettled and
hvcrish Reading Railroad declined 4 per cent; Erie
Railroad, X Norwich and Worcester /; Zinc Company
y; Long Island, u; Morris Canal IN Harlem advanced
per cent; Nicaragua l. AT the close things looked
pretty blue in the street, but the bears appeared by
anxious to take in their shorts They quietly
hiding their time.
this port, to-day, amounted to SS7330 payments,
f2244 S5-balanse, $2679963 90.
The Merchants Exchange In Wall street, sold at
auction to-day under foreclosure Of the holders Of tho
Art mortgage bonds for eight hundred and Ave thou
sand dollars The purchaser was w. w. De Forest. It
= understood that he represented the second and third
ALAS while others state that he purchased
bis account 1t is Of very little consequence who
the purchaser cheap enough at the price paid
and will pay pretty well the investment but it would
pay better to the entire structure and put in its
Place building that would rent for three times much
Wall street not the place for such massive, gloomy
structure, the Merchants Exchange Its beauty Of
architecture is lost in euch location The ground upon
which the present building stands worth the price paid
at auction today for the whole and in pecunary point
Of view, the suggest should be duly con-
hdered.
The Illinois Central Railroad Company have received
from the department all the documents perfected neces
sary to secure them the land granted by Congress for
the construction Of that great work. The Chief Engineer
Mr.. Mason has also retnrned and the contracts for
building the road will be advertised in day or two.
The following extract Of letter. dated March 49, from
oc INIT NJ Gum
ber,and Nd j. F. Waters, Esq, will be read with satis
faction by those interested In tho prospects Of that COM
pany It will be that vigorous exertions being
made to full supply Of this valuable coal for con-
sumption the present year.
II have now to inform you that Mr. Smith, our eng-
neer will go with the work to completion; that the
operatives again in motion the Maryland side Of
the Potomac; that few days will complete the casing OF
the piers and abuents and will be done Immediately
after the fall of the water will permits that they are now
ready for tho superstructure contract has BEEN
this day executed for the construction Of the bridging
which Is 70 sustain weight of the loaded its
whole length at time and guaranteed for one year
after its completion which to be on or before the iotn
day Of May next The cost 70 Dc 30 nm,
our may placed in Baltimore a period not vary
ing much from the said date.
Bonds Of the Belefonainc and Indiana Railroad Com
psny amounting to two hundred and fifty thousand dol
lars bearing per cent interest secured by hrst
mortgage the entire property Of the company are
TO be lSued, ana placed In trust Ior inc pouu
holders. These bonds will be issued In sums OF
$1,000 with interest, payable scmi-annualy at the
Bank Of Commerce in this city They are convertible
into the Of the company at the option Of the hold
.rs They issued under acts Of the Legislature Of
Ohio authorizing them and the mortgage above is to as
sure the payment thereof The amount Of bonds to be
thus Issued under the mortgage is limited to SS0000 Of
which 100000 have been disposed Of Only $3.50 600
now offered for sale Tho residue will be disposed Of as
the wants Of the company hereafter from time to time,
may make necessary The mortgage covers the whole
road the company us miles long, and the first and
only lien thereon This embraces the entire line from Its
connection with the Ohio and Pennsylvania Railway ct or
near Gallon where the Cleveland and Columbus Railroad
the same through Marion Belleontaine Sidney
and other important towns to Union the line dividing
he States Of Ohio and indiana where connects with
the Indianapolis and Dclcfontanc Railroad now nearly
completed The entire line Of lis miles Is under
tract for graduation and masonry, and about fyfour
miles Of nearly ready for the iron rails Sealed
proposals will be received for any amount not less than
$1,000 until Tuesday, the 3oh day Of March, inst at
o'clock, p. NJ Proposals viii be addressed to Winsow,
Lanier Co. No 80 Wall street. endorsed Proposals for
Bellefontane and Tndisna Bonds, The above S2500O0
viii be sold absolutely and without to the hgbel
bidder.
Stock Exchange.
7ooo Ills Int Imp. so Is 200 do; 49,. bso ~