The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-04-23
FINANCIAL AND COMMERCIAL.
NOM Y M A n X K r

FRIDAY, April 22-6 P. NJ
All the leading railroad stocks in active demand to
day, <nd the transactions quite large. All the
fances except coal stocks we're buoy and the specu
latve excitement pretty high The bulls are getting
the steam IN pretty fast and it would be well to stand
ready for collapse There not railroad stock on the
list that is good sale present prices and as Tor
the coal stocks there is very margin for depreca
tion with an exception or two in the entire LIST Inc
market has been inflated rapidly to be permanent
1t may enable many to get rid Of their suppes but pur
chasers will get caught at high prices with no demand
except from the bears for delivery on maturing con-
tracts. There plenty of sellers short In few
days there will be plenty of sellers who viii be long
who will have stock than they carry, and
who viii be particularly anxious to get rid OF
what they may have hand The movement
at present, is decidedly upward, and there are,
doubt, double many buyers in the market as
there when prices ranged from three to five per cent
lower This is usually the effect of an expanding Market
and we suppose it always viii be matter what class
of stocks may be prominent steady, consistent
perseverng bear generally comes out the pest NO mat
ter what the advance may te or how long IL may con-
tnue the foundation is Hsusly so SLIM SO weak ana tue
improvement upon such poor basis that II cannot Dc
permanently sustained moderate speculative rise In
any or all of ancies might be sound and healthy but
when an upward ement commences it goes forward
with such rush at such reckless pace, that none but
The desperate speculator keep up with it. 1t
soon runs far ahead of all reasonable limits and the
more cautious realize fall back and give the chase to
others In this way the greater the advance the weaker
holders generally become break down. therefore, be-
comes probable every per cent of imitation, and
when it comes upon great expansion the effect Is
usually very disastrous to the smaller class Of specua
tors. Things in Wall street approaching that point
where all careful safe operators will realize and retire
At the board to-day Florence and Keyport advanc
ed per cent; Phoenix ~ Canton Company, q; Near
aqua Transit u New Jersey Zinc u Erie Railroad, III
United States 6s 1862 u Michigan Southern Railroad,
D. Crystal Palace declined per centsfrom last sale
Hudson Railroad, L. California Is q. Considerable
business was transacted in railroad bonds and State
stocks at full prices few lots of stock OF city
banks are daily sold but prices uniform, and princi
pay at high premiums Very little change takes place in
these investments There sale today of sons of
The small mining stocks but they little kno that
the market price criterion of their actual value
At the second board the market rather heavy and
a slight reaction visible Nicaragua fell of u per
cent; Canton Company, "a Cumberland, u; Florence
and Keyport y New Jersey Zinc, q Norwich and Wor
cester, u Hudson River Railroad /; Harlem, u Par
ker Vein advanced "a per cent and Michigan Southern
Railroad u. The tendency at the close was downward,
and the appearance Of things should judge that
the lad touched the highest point for the present
After the adjournment of the board the following sales
of stocks made by s. Draper by auction at the Mer
chants Exchange