The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-03-25
MON Ely MARK e II.
"WEDNESDAY, March "a

The stock market remains without material alteration
There much activity in certain leading fancies
have noticed for many weeks past and movements in
Wall street have lost great deal Of their spirit and cha
racter is hard, uphill work to sustain the ina-
tion and doubt those who have been anxious
y looking for rapid and continual rise, will get out Of
patience sell out and leave the street. completely dis
gusted with fancy stocks generally At the first board,
Canton Company advanced per cent Delaware and Hud-
son u; Zinc Company "a Erie bonds 1852 y; Nicarau-
qua Transit Company "a; Hudson River Railroad a;
Reading Railroad u; Norwich and Worcester y. North
American Trust declined d per cent; Harlem 1; Erie
Railroad -; Michigan Southern Railroad Il. At the
second board, the market buoyant and closed
steady at COR quotations
The receipts at the Office Of the Assistant Treasurer Of
this port to-day amounted to $50 22S. os payments
| s3,967 s5-Baance, S2,7e6.sSs a.
There active demand for foreign exchange to-
day. for remittance by the steamship ASIA without alter
alton in rates The market well supplied with bills
| The Asia carried out ss4, coo in specie.
AT meeting of the Canal Commissioners Of this State
held in Albany resolution passed that the canals be
opened on the 18th of April The Ohio State canals will
be opened on the 18th inst, tomorrow Water let
into the Tide Water Canal at Havre Grace yesterday
| and it is in excellent order.
The Dauphin Coal Company have authorized capital
of $35o00Oo divided into shares $50 EACH Of
/
capital Of S22500Oo Of which S13O0Ooo has been ex
pended for the $4,000 it timbered
lands and the balance in mining and the construction
railroad twenty -four miles in length which will
with the fremont and Eagle road and the Reading road
to Potsvlle Its shipping port Port Dauphin the
Sufquehanna, where it has large basin. By means
the Tide Water canal has outlet 80 tde-water
Iavre dc Grace and the Baltimore and Susquehanna
Railroad conveys its coal to Baltimore, where it has
depot on the Canton Company's estate The company
have contracted with the Baltimore susquchanna
Railroad Company for the transportation 900 tons
Of coal this year.
Within the past two three weeks there has been
siderable activity in manufacturing stocks and of
the shrewdest capitalists Of New England have been
quietly laying shares aside in anticipation Of pro
fabc business during the year. The evil over produc
ton Is gradually curing itself and many the large
adjustments in the Eastern States are turning their
attention and machinery to the manufacture of greater
and different varieties Of fabrics. This all right and
proper, and is evidence of better management The
manufacturing interest Of New England has been de-
pressed from the knowledge on the part Of
the propretors and managers than from any pro-
lection from the The progress and operations
Of the numerous enormous manufacturing companies of
the New England States have been from time time Of
the most extraordinary nature-sometmes up some
times down one year paying large dividends and an
other making large losses Under the policy of the
government we have all sorts Of fluctuations In
these establishments notwithstanding which, immense
fortunes have been made, and those who have made
them have been known throughout the country as lords
Of the loom They have. in their palniest days.
never neglected opportunity appeal the sympa-
thes Of government for the purpose Of strengthening the
monopoly they enjoyed and year after year the most
sturdy beggars at the door Of Congress have been tho
millionaire manufacturers of Massachusetts, Having for
such long period, been literally protected at the
expense OF many other equally important interests they
considered it nothing than right that it should be
continued Since the public crib has been closed and
they can no longer faten at the public cost they have
been most camorou and through their organs keep IN
the cry Of protection distress and ruin Previous to
1876 feeling confident that the tariff Of 1912 was fixed
factthat the protection they then enjoyed was pcrna
nentthe most extravagant expenditures made for
the erection Of new mills, machinery SC, and the
extension Of manufactures almost every year was sul
cient for at least five or ten II nothing than
period Of speculation dependent entirely for success
upon the continuation Of government patronage and
protection II carried to such extent that IL
supposed by the prime that Congress would be
oyerawed by the amount Of capital involved and OF course
political power controlled continue at least the sup
port then provided for perhaps increase It, The i'm
pudence Of tho New England manufacturing interest is
pretty generally known and nowhere better than in
Washington The repeal of the tariff Of 1872 in 1916
and the adoption of tariff solely for
ment the Of Massachusetts, little expected
and wholly unprovded for. They at that
time, in position similar to fancy stock Spectators
after enormous imitation in prices upon sudden turn
In tho screws the money market-complctcly panic
struck. The lamentations Of their organs were enough
to arouse the sympathy Of the hard hearted free trade
members Of Congress; but strange may seem they
did not There is doubt but that the most | ,
prosaiseSt manufacturing companies in the East