The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-04-20
y0MMERCIAL AFFAIRS,
MONEY M A r. x II.

"a Harlem,
Railroad 4. Delaware and Hudson u, since last sales
Eric Bonds. 1859 -; Erie, 1871 "a; Erie 1862 j. 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 made by par
Les who are interested in the company and look upon
a. 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, ~ Erie Railroad q Harlem "a; Norwich and
Worcester u. small lot Of Transit stock sold at -
yer cent. cash Holders firm. and offer very
little stock at current quotations. small lot of
.honix Mining Company stock sold this afternoon.
ilS per cent each. This is handsome advance
m the previous sale, and shows a rapid improve
hent in public opinion relative to the merits of this
amy and its prospects The price named above is really
nothing for the if that reported Of its
is true The most active fancy in the street
to-day 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 is not the slightest basis for the RISE
and that 1t Is purely speculative The demand at the
first board exceedingly active This extraordinary
call for stock understand occasioned by move
ment in Philadelphia to complete the which has
solong been approaching the eliminating point 1t
tainy looks though 1t had reached its climax Most
of the floating stock of this company has been placed on
the books at Philadelphia and the bulls thinking they
had 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 many
weeks they will find the stock plenty enough at
rates considerably below th1-e current The bulls
have all the stock, and it will be question with them
by and by, what they do with it without heavy
shorts prices cannot be sustained 1t may therefore
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 forces for active operations but his
position not so impregnable as he supposed
1t appears TO US that should be adopted
by the stockholders by the Legislature to prevent
those directly connected with the management of our
incorporated companies from connecting themselves with
any combination for the purpose of specializing the
stock There can be justification for the officers of
any company engaging in the gambling operations of
longs and the shorts Of Wall street. and it is time those
who have for some time past appeared prominently in
these speculations should be generally known by
the stockholders whose interests they have undertaken
to protect We shall he glad when all these fancy
get settled down upon solid basiswhen all these
tensWe fluctuations and they left the natu
ro changes Of the market 1t will be good thing for
these interested permanent holders, when Read
ing Railroad stock to be football for specu
btors. Under the present regime it has been
merely machine, which has worked the ruin
of thousands while those who have controlled the move
ments Of the machinery have realized fortunes out of their
misguided constituents 1t has been reported that no re-
iucon would be made this season. the rates of charges
ortranspotng 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 in contemplation. and they holding back
coal consequence In the event Of contest commencing
between the railroad and canal may look for results
simlsr to those realized before similar circum
stances The last weekly report of the anthracite
trade stated that the aggregate brought down by the
Reading Railroad this season. 43o $3.50 against
31S 2i tons This wrongt should have read 400 1856
tons this against 513 2o4 tons to the date last
year. showing deficiency this of S3lS1 tons
The receipts at the Office Of the Assistant Treasurer
of this port. to-day, amounted to S5300O payments
$247G G6-balancc. S3,524,4l 81
The Mechanics and Traders Bank has declared semi
annual dividend Of per cent the West Chester County
Bank q dividend Of per cent.
The moderate amount of business transacted in this
and other seaport cities this year is rather favor
able feature, it gives all classes opportunity to
rccuperate Themselves and strengthen their position for
snyfuturc expansion These ulls have favorable effect
upon trade Consumption generally goes year after
year without those fluctuations which frequently ap
pear in the movements Of and whatever pause
there may be in demand from consumers,
surcs corresponding increase in supply another 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 headlong
into the most exravagant speculations Credits have
been most enormously expanded both public and private
We have carried fr several years the most exraord
system OF internal improvements known in 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
ofa revulson About twelve months since there were
decided indications of explosion in financial and
commercial circles. Several very heavy failures &C.
CURED and for time the most serious apprehensons
entertained more cautious policy adopted.
and the effect has been beneficial The internal trade of
thecounry Is in sound and prosperous condition and
ii Is Likely continue If not forced beyond udicious
limits. The moderate trade transacted thus far this
gives the mercantile classes opportunity
concentrate their capital and make it more available
For time there probably will be accumulation Of idle
capital which guarantees reduced rates of interest and
temporary specuations in stocks, which limited in
their operation and have effect favorable unfavor-
nbie upon the Legitimate movements of The
banks in periods OF activity in trade employa large per
cent Of their in stock speculatons, in tenn
porary loans upon hypothecations Of securities which
be made available at the shortest notice. and
have TO give way 70 legitimate demand for mo-
ney from those engaged in trade This in .
accounts for the large amount Of idle capt.
tai at this moment seeking employment, and the ia
cstes furnished for the imitation Of fancy stocks The
opening Of inland navigation may give q greater i'm
petus to trade than has yet been realized this
and give activity to portion Of the unemployed capital
of our banking institutions If not we must wait pa
tentIy for another season with the consolation that
actual loss has been experienced by the delay.
Ished transfer Office in this city.
The Milwaukee and watertown Plank road have declar
ed dividend. amounting per cent since January
last Plank roads in every section Of the country have
proved most productive, and the smong the
investments Of the day.