The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-04-01
FINANCIAL AND COMMERCIAL.
MON Ely M ARK r II.
THURSDAY, March 3l-6

Inc STOCK market LOT SeVeral Jays paSL nus DeeH
moderately buoyant, and the transactions have been
comparatively large, but disposed to look upon
the upward movement merely as temporary one.
Money it is true, is slightly easier and loans are not
only more easily negotiated but upon favorable
terms This has given the impetus to fancy stocks.
It cannot be otherwise considered than as one of
those reactions usual after period of depression
and it would not be safe to enter the market as pur
chasers, under the present excitement When wesee
fancy like Cumberland moving up five and six per
cent in many days. it looks as though another re-
action but Of different character, must be near at
hand. The bears are evidently availing themselves
of this imitation to put out contracts, and they will,
without doubt, soon reap rich harvest. There is
large class Of fancy stocks the list it would do to
sell at almost any price, and Cumberland stands at the
head Of the list. In the event Of another sudden
twist in the screws on the money market, we shall
see these stocks tumbling down with crash that
will strike the foundation Of many houses Caution
is particularly necessary in times like these We know
not how soon and with what force the money market
may tighten, and it is best to be prepared for
any emergency. We have seen within the past six
or eight weeks, severe contraction come upon the
market almost at a moments notice; and such is
the position Of financial and commercial affairs in
this country at this moment, that we know not the
day or the hour when similar and q more serious
stringency may occur. Prudence Is commendable at
all times; but when public and private credit gene
rally is so much expanded, it is particularly impor-
tant that it be practiced. The fear Of q collapse
may = l = -,---.i--o Z. IL suD
ject Of remark among mercantile classes, that for
the time, greater difficulty was never before expert
enced in raising money than during the recent con-
traction and but for the aid extended to each other
many failures must have occurred. Had they de-
pended entirely upon the banks in former years,
there would have been most serious consequences.
The suddenness and severity of the stringency have
induced many commercial houses to contract their
operations and the effect will be most salutary.
Checks like these are healthy, and have very ia
vorable influence. Upon the principle that proven
ton is better than cure, like them, and at all
times disposed rather to foster and encourage them
than otherwise. They are to the financial world
what storms and tempests are to the material world
and the effect cannot therefore, be misunderstood.
The stock market was again quite animated to.
day. and at the first board disposition was mani
tested to operate in almost everything that came up
and generally at somewhat better prices. The spirit
was even carried far as to lead some of the less
wary to enter the lists for or two fancies that
had hitherto been looked upon as Of very question
able character. The only dropping of that we par
ticuary noticed at the first board in the Phoenix
Mining and Cumberland Coal Companies, the former
Of which declined l, and the latter .. Long Island
Railroad and Nicaragua Transit each vent up d
Harlem Railroad, Iii Erie Railroad, LIZ Northern
Indiana and Michigan Southern Railroad, l. and
Dauphin Coal l. By the table below it will be seen
that some four or five other descriptions advanced l.
and the remainder closed at the figures Of the first
board yesterday At the second board Nicaragua
Transit improved j; Parker Coal 4; Montgomery
Mining, !; Phoenix Mining, Z. Erie Railroad de-
elined /, and Harlem I.
The highly favorable commercial reports brought
by the Niagara from Europe had very perceptible
effect upon our market yesterday. Cotton went up
! a 1, according to quality, and more frmness was
indicated in breadstuffs. still better feeling will
probably be impaired by the additional European
advees published elsewhere.
The annexed statement exhibits the receipts and
disbursements in the office Of the Assistant Treasurer
of this port during the month of March, 1853 -
ASSISTANT TREAsURER's OFFIcE-REC1PTs DIsBvRsE-
MENIs, MARCH, 1853.
March /, 1s53-Baance ..............s $3.50 LEI 81
Receipts.
On accounts Of customs. .si,o75 ,523 Sc
Patent fees ,436 u
Post Office Department." 302,eo7 "a
- 4,Ssi,47l OF
Total. $40, 26o, 63S 80
Payments
Tran surv drafts 50 468 SAB "a