The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-03-28
FINANCIAL AND COMMERCIAL
MON EY MARK Il II.

MONDAY March 2I-c r. M.
Quotations for fancy stocks much depressed at the
first board to-day notwithstanding the active operations
at the Exchange and in the street. Now York Central
and Erie Railroad among the heaviest the list
and there appeared to be great number Of sellers the
market Since the introduction Of the bill into the Le
gislaure Of this State giving the New York Central Rail
road Company power to mortgage its property and fran
chse for fifteen millions Of dollars the stock has been
steadily settling down. and not at all surprised at
the prices have taken Erie Railroad has fallen
off materially since the books closed and the ton
dency still downward Most Of tho leading fancies
opened and closed heavy, and fear much lower
points must be submitted to. Il IL the general i'm
preston In the street that stocks cannot improve
much and the impression Is also pretty general that they
cannot depreciate much wo must look for heavy,
dull market this l. realized the bears viii have
the advantage, for interest Is continually running in
their favor, and that Is . very important item The
difference between buyer and seller In twelve months il
about twelve Per cent but SPECTATORS do not take into
consideration that important fact At the first board
to-day Erie Railroad declined Y per cent; Reading Rail-
road, u; New Haven Railroad, Il; Harlem, NJ New
York Central Railroad, Vi Cumberland Coal, y; Mica.
rsgus Transit, 4; Canton Company, u; Delaware and
Hudson ii Hudson Railroad Bonds, convertible, u;
New York Central Railroad Bonds u; Illinois Central
Railroad Bonds, u; Continental Bank u. Florence and
Keyport advanced per cent; Crystal Palace Parker
vein a Galena and Chicago Rairoal per cent since
last sale. We notice that nearly quite seven eghhs
Of the aggregate transactions to-day time prin
cipaly buyers option The policy pursued BY the banks
which have often condemned-that OF making call
loans and suddenly contracting such avorss Of the
causes of the present heavncss and must continued
produce greater depression The only way to destroy
this influence Of tho banks the stock ope
ratons OF the street, Is TO avoid call loans
~ one would the plague. II IL one Of the
greatest curses inflicted upon Q community. So
long as the brokers enter into them long sha
perience these sudden fluctuations anu deprssdons.
When the banks flush their agents inning about
the street. begging the brokers to take and their
funds, subject to immediate call When they do call
not I've minutes grace Ia given; aud to procure credit
with the banks the brokers frequently submit the
most ruinous sacrifices to raise the funds II would be
much better for the brokers' body IL they had less
to do with the banks. These institutions useless
any community and particularly in this city their
principal business is to foster speculation and create fire.
quent and sudden fluctuations for the advansssnt Of
private interests identified with the management
The receipts IT the Office Of Assistant Treasurer Of
this port today, amounted TO 500 o25 pAyments se2
941 2c-balance, IS, ESQ, 800 IA
After the adjournment Of the Board the following
sales were made at auction by A. H. NieolAy-
$1,000 Naysvlle and Lexington R. R., LIST mortgage o.
loco 4, ansve and Illinois r. X do........ 66
100C0 Peru and indianapolis r. X do........ 79A
500 Dividend Certificate Mad. Indianapolis r. r n
cfatA Ctxcs 1Aot