The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-05-11

ALMOST ona ssnmss and such Is the extravagAnce
the operations that serious decline In any of the
bubbles leads with sympathetic influence 70 overtun al
except perhaps those few in which q depression or
rise may be the accidental consequence Of an over bust
either In buying or selling
The tendency Of quotations for stocks 20 dav vas down
ward. The leading fancies offered In large lots
The demand Was more active than usual and in some in
stances prices not only sustained but improved A.
! the fret board Morris Canal fell OF u Der cent. Can
ten Company, u; Nicaragua, r.; Cumberland Coal x;
Harlem, a Erie Railroad, ~ New Haven Railroad, q
Michigan Central Railroad, u. Phoenix Coal wen. up Z
per cent; Utica and Schenectady "a; Hudson River
Railroad. a. New Haven Railroad has fallen six per
cent since the recent disaster It is estimated that the
company will have 10 pay, in the shape of damages al
least hundred thousand dears before all the suits
through with.
The receipts at tie Office OF the Assistant Treasurer
this port to-day amounted to s151, 49 49, payments,
| sll9,9s3 69--balance, 81, O7O, S04 70.
often happens that the reckless operations arc made
in stocks where greatest ignorance exists to their
intrinsic merit The very mystery TO be the surest
guaranty for faithess combinations It is but
to note the constant variations daily exhibited in order
to comprehend the truth Of this position. At one mo-
meDt the coal stocks appear to be favorte subjects
Of investment then, without reason they are discarded
and Immediately, with much inconsistency a rush is
turn enjoy similar vcissuds in their career There
could be nothing caprcous than the constant ups
and downs which In the principal railroad stocks
especially those of large capital and still anger indebt
edness such the Erie and the Hudson representing
joint responsibilities In stocks and bonds exceeding
S4S, 100000
If the directors of these companies ever dream Of ap.
proprating any portion Of their income discharge their
immense eating debt however wise proper may the
vision, speculation Immediately raises indignant camor
when the managers fearful of their places continue to
make large dviiends and thus instead of an honest
administration, based conservative economical princi
issues Of stock additional are
There must nevertheless be fnay to this system of
laundering, especially the very Success of these
noeuvrcs gives rise to rival and competitive enterprises
terminating in speedy and perhaps disastrous COMPETE
ton.
The community at every point and place Aatered with
the prospect Of improvements using every appliance
and POWER to ensure to themselves railroad accommoda-
TONS many, ss mere luxury and not content with f.
sities Of travelling they already enjoy essay 10 real
lie thor wishes by the mortgage OF their private the
public property thus creating Of debit in the vain
hope that with their respective enterprises more or
ether improved projects will be undertaken.
In the imitation capital seems to b the last
object of contemplation The more cxtravagsnt the
ulation patronage. The fancy operators see in
the vista Of the magnitude Of the capital the
sudden road to wealth and independence to be
q president, director. secretary has become tho
charmed anticipation Of every little spirit Of ambitious
preensioD and those generally who have the least right
to possess public confidence mostly successful That
there Ia false bottom somewhere there be doubt
The necessities Of tho country cannot require such
extraordinary expansion and 1t could not exist but for
the unsoundness which makes money, such as it is of
most questionable vaue and regret to remark that
we look in vain for those beacon marks and ntelbe
signs showing that the extravaganza reaching
comprehensive eliminating limits The financial horizon
presents indications whereby judge Of the fu
ture-no traces Of disposition to return to sound and
rational influence. We are, therefore, forced TO the
conclusion that the end viii only DO known when We
shall feel great monetary crisis, such will sweep
over the land with the bosom Of destruction involving
the fortunes Of the borrower and the lender There is
a most certain maxim in fiscal philosophy which never
dsappoints which il; that there plethora In
the money Market in speculation where there exists
well balanced relation between income and capital.
Therefore, being sfoat are, without compass we
rest on the MAXIM looking forward to state Of enibar
rsssment in rancial affairs and when least ex
pect overturn the catastrophe may brought about
by causes Of almeat insignae ant importance.
thro.phont ina ''faung .sy in the money market
iDroItstions, is explained by the fact that
creased and Increasing indebtedness abroad has thus
far supplied resource Cor mercantile remittances
Wieaout this substitute remittanoes hAvs besn
made by alsrming expectation of specie bat the
time natures when payments must be made Of dividends
and interest to foreign stock and bondholsrs which
the Beginning Of July win exceed millions Of dollars
we may then discover, WHOM too late that -.
not satisfy old debts. It Ia ----~''' .o'e'
our f,ren viii have forgotten the lessons OF
former experience-whch 70 remembered by many Of
the European bankers mustbe known somewhat by tra-
dton AZ . monetary life is but fectins moment
therefore they may be willing to receive in hu OF their
cash demands State railroad bonds additional ev
denoes OF compound indebtedness. II they DO not
then we may anticipate general crash Specie must 60
forward and that shipped to any great extent would pro-
duce panic In the stock MARKET and IN financial circles
generally that would utterly destroy public confidence
From the following report which has been handed to
" berd2n's Gold
Quartz Amalgamator well calculated to attain the end
for which it Is designed For the information Of those of
our readers who not acquainted with its construction
may observe that its pecuaries consist in the in
clned position Of the BASIN the double motion spiral
and rolling given to the ball. and the ingenious contry.
ance by which every particle Of the metal brought into
contact With the mercury without evaporation or loss of
the Mtter' AS previous experiments had amply demon
strated that the machine could perform the Office Of
pulveiser and extract gold from quartz tho only ques
ton to be decided BY the committee vas whether it
would extract all the gold, whether is the case
with other machines, would leave considerable por
lion Of the metal in the tailpgs We are happy to find
that the committee have that gold was found
In the talings which passed through Berdans machine
on friday This determines the value Of the invention;
ard we arc not surprised to hear that hundred ma
chimes have been sold during the last throc months Tho
report Ia as follows
The undersigned, appointed from the company Of gem
temen present at tho Novelty Works Friday last TO
examine the and result of working gold ores by
III Bordan Quartz Pulverizer and Amaga mator res
pectfully report
That before using the machine the ame was tho
roughly cleaned
That the ore uscd-rrom the Otter Creek Mine, Cafor
found by weight to contain 9S lbs o. the ore
WAS Of hard quartz The machine was fed with Jumps