The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-04-14
FINANCIAL AND COMMERCIAL.
MONEY MARIE II.
WEDNESDAY, April 13-6

WEDNESDAY, April l3-6 r. NJ.
The stock market presents very gloomy ap-
pearance, and the prospect is by means attering
to holders Of fancy stocks generally. At the first
board to-day there was q very decided movement
made to get rid of Cumberland. The sales were
quite large, at decline, and but for the shorts
stepping in, prices would have touched much lower
points. Advices recently received from the Cumber-
land coal district give very unfavorabe accounts re-
ative to the trade. This Is the principal cause of
the desire to SELL Phoenix fell off to-day for the same
reason. Cumberland declined per cent; Phoenix,
II; Erie Railroad, J.; Hudson River Railroad, q;
Harlem, {; Reading Railroad, l. Parker Vein ad-
vanced per cent; Nicaragua, !. The money mar
ket, within the past day or two has slightly stfen-
ed, and there are indications OF much greater
stringency. Sterling exchange was, by the last
steamer, firm at % per cent premium, and the
weekly shipments of specie have largely in
creased. The remittances thus far this year have
been only to q moderate extent, and we must look
for quite an active movement of the precious metals
All this must tend to depression of the stock mar
ket, and purchasers for rise must have great faith
and confidence 10 take hold of the fancies under ex
isting circumstances. We do not see the slightest
basis for such hope to rest upon. So far as the
intrinsic value of the fancies now in the market is
concerned, very little can be expected. This, how
ever, is usually Of secondary importance; but there
are no operators in the street but those who are al
ready filed with all sorts of stocks, and are COM
PEELED to add to their supply from time to time, to
sustain the current rates. Most of the strongest,
largest houses in Wall street are sellers of the fan
cies throughout the list and holders are therefore
principally second and third rate concerns Their
ability to hold depends entirely upon the condition
of the money market from day to day, and it is quite
clear that any moment may witness regular break
down. The bears have decidedly the advantage,
and they appear to be pretty well satisfied with the
position Of things
At the second board the market was more de-
pressed than at the opening. Prices do not show
much change, but the transactions were exceedingly
limited and no disposition is exhibited on the part
of any to purchase, at the depreciation in
market value reported at the first board.
The returns of thrty-two banks of The city of New
York, for the mon tn of February, 1853, compared
with those for the December previous exhibit an in
crease in loans and discounts of So 563 076, and
decrease in the deposits of $1,162,l0 specie,
81, ISL ,064; circulation, 1888 ,s4s.
Silver is accommodating in the Philadelphia mint
very rapidly. About two millions OF dollars in value
have already been received Nearly the entire force
Of the mint is engaged in manufacturing the new
silver coin.
The receipts of the Harlem Railroad Company for
tine first two months Of the past two years were as
follows -
NEW York HARLEM RAILROAD