The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-05-30
FINANCIAL AND COMMERCIAL.
NEY MA Il X K 4

MONEY MARK
MONDAY, May 29--6 p. NJ.
The stock market opened tuoyant and active this
morning The leading ancies in demand at better
prices and there appears be let up the speca
tive feeling The favorte to-day Ncaragus Transit
and all anticpations in fair way Of being res
aEed The advance of per cent at the drst bosri TO-
day must have startled the bears, and reminded them
forcibly of predictions made some time since. i"e
clique Of capitalists who made up large pot TO sen
Mt twenty five per cent find little conso@ton ~ ING
present state of things. Under the mAnaSement u
Charles Morgan ESQ, the affairs OF the Nicaragua iran
sit Company have been extticatea iron INV oon'
and embarrassments which almost overwhelmed the
cnnoarn ,naer nreyious administrations and from a
los,ns uncertain condition, It has been made ono
NJ Aha most PRODUCTIVE .---spofAtioh conPa'
VIZ .-a.ry. Mr. Morgan has shown his
suence in the position and future proatabeuess
of the concern by investing largely in its stock at prices
ranging from the highest to the lowest points, and he
will realize some reward for the judgment and
shrswdness exhibited in the management, The bears
have already suffered seriously Cumberland Mica
rsgua but them still putting out contracts buy
ere option, apparently regardless of consequences.
There may be occasionally reactions that will help the
shorts slightly but they cannot look for any important
change in their favor until the present movement has
expended itself There undoubtedly very many hold
ers Of both Nicaragua and Cumberland who would sell
at large profits, and perhaps many they could realize
cost and changes but the bears cannot depend upon any
aid from those Mt present There is sn wide
margin for improvement and the advance in Cumber
land viii OF for the future be rapid II has
She fact that difficult TO carry the imitation
u high than at low prices it win be longer time in
Heaching the points proposed by different operators
Notwithstanding the reported fine prospects Of both the
Cumberland Coal and Nicaragua Transit Companies, and
khe little doubt that exists the minds OF most holders
relative TO q dividend at early day there are parte
Who would be satisfied to get out clear and be relieved
from the apprehensions and anxeties which have,
throughout the last long periods Of depression beset
them. 1t is exceedng, difficult, upon rapidly rising
market to fix upon points to realize As general thing
outside spectators for improvement buy during ad
vance and cell during a decline. They do not to
know when 10 SELL and, by holding for little higher
price, and the market turn upon Them and before they
have made up their minds what to do, there Is margin
against them. This fortunately is not the with all
and those who satisfied with moderate profits make
1he most money in the long run.
There considerable activity to-day in all the most
permanent railroad stocks. Erie, Harlem and Reading
improved fraction. New York Central Railroad has
lately been much neglected. and the depression has be-
come chronic. Is the general opinion that it is yet
selling ut much above its actual value Parker Vein is
safe purchase at current rates. for the per
could not be very great lit entirely out of sight
There is believe, but defunct coal stock the
List at present, and that is the Phenx. The Others
which have from time to time made some excitement in
Che street. still in existence and for aught know
to the contrary in active operation AT the first board
Illinois Central Bonds advanced u per cent; privilege
do NJ Delaware and Hudson, y; Canton Company, Il;
Nicaragua Transit, 8; New York Central Railroad, Il
sch ocd Uor ~. L-:.p
III Reading Railroad, "a Cleveland and Toledo Railroad
NJ Hudson River Railroad, y. Cumberland auctuated
slightly from the opening to the close At the opening
was firm at Saturdays prices, but fell off fraction
wards the close The sales amounted to than six
thousand shares.
At the second board the market took just the
anticipated particularly in Cumberland. After rise
of ten and twelve per cent spread period of
than six or eight days. reaction could not have
been prevented is somewhat strange that we have
mot had before this An advance of such magnitude
In such short time, Is calculated to induce many hold
ers to realize Those who in at the bottom of the
market have to certain extent awaited themselves OF
opportunity to make profit of ten per cent equal
~ net profit of thirty three per cent the in
vestment. This has put large amount of
stock the market and for the time de
pressed prices. The great movement has, however,
taken such shape that its must be onward and
amy check be but temporary After the board closed
this afternoon thirty cent bid and 1t in
demand at that price. Nicaragua Transit fell back a
little at the second board which gave the bears OPP
porunity to In and make up of their shorts
1t chance too good to lose All the other fancies
advanced fraction, particularly Erie Railroad, which
sold freely at 7oHa II per cent.
We have received q copy of the Merchants and Bank
ers' Almanac for 1884 published by j. Smith Romans,
Eso at No. 10 Wall street 1t contains . list OF the
banks In every State and city Of the Union with the
capital Of EACH calendar and chronology of important
financial events and any quantity Of other matter Of in
4erest to capitalists bankers and brokers. 1t valua
BILE book Of reference.
After the adjournment Of the board the following sales
were made At auction by A. H. Nicolay-
IS 600 Cleveland and Pistsburg Railroad u.s.. . 7SA
5000 Great Western (Il Railroad LIST mort. 10's 944
5000 do. do. do...... 94a
1000 Rock River Valley Union Railroad 7,s..;. 20