The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-07-18

n. Crane created Ne Creates condemnation. u
seems he was suhsGihsr 70 largo amount q she
stock Of the Erie and 6anbury Railroad. The city
Of Phladelphia subscribed two million dollars VI
wards this enterprise, half Of which was paid scr
when the same amount had been 0btAined from
private sources, and Mr.. Crane was one q these
private sources. The city, in consequence Of tbs
recent Developments, win undoubtedly withhold
the balance OF its subscription and the operations
on the Sunbury road remA o. Tor O time suspended.
At Boston, yesterday, ths stock Of the Central
Railroad was suspended o. ON the books Of the bro
kers until the course Of the company respecting
the over issue is MADE known. Meantime, q COM
mtee Of the directo 10 busily at work inyestigakr
ing the matter.
ocN LERcIAL AFFAIss.
Common 70 INF erior grades Of State -four were
firm yesterday ~ l2s cents per barrel higher Prime
old white wheat. was firm and In demand. A prime
lot OF white Mi higan brought 81 per bushes- Good
shipping cors, also, firm, with sales a cargo
or two at a . light advance. Cotton sold TO fair
extent at Die official quotations given Ia another
column.
MISCELLANEOUS
The New Hampshire Legislature, AFTER sessson
of six weeks, adjourned On Saturday last, without
day. the session has proved especially disastrous
70 fAH eral Pierce and his friends 10 and cut Of the
stsss IN the defeat Of all their pars, and the rejec
tisn Of all their candidates. It 10 by means i'm
l able that the next Legislature will be under the
r".rol Of the free democrats, and in that case two
abolition Senators viii ne elected to Congress- As
no Senator elected, Mr.. Williams seat, held by
appointment from Che Governor, becomes vacant,
snder the rule laid down by the Senate in the YER
mont case.
The authorities of Baltimore report that city free
of cholera.
The citizens Of New Haven decided yesterday, by
q majority Of over six hundred, not to introduce
water into that city The estimated expense Of the
works was 1926 900 only.
The Legislature of Pennsylvania, at it's last SEES.
sion passed act authorizing the friends Of an In
ebate to give notice to an nnkeeper not to sell the
Incorporate person any more liquor, and yesterday
| Mayor Conrad, of Philadelphia, had case coming
under this lazy brought to his notice by the wife,
mother and daughter Of person Of drunken habits.
1t the first prosecution brought under the act,
and the Mayor bound the seller orr for trial in one
thousand dollars bonds to answer.
FashIon-Onr Hotels and the Watering Places
Tho Last Season and the Present.
Our fashionable Northern watering places, Of
the seaboard and the interior, from Coney Island
to Niagara, and from Nahant to the uttermost
sources Of the Susquehanna, appear, upon the
average, to be in languishing condition, CON-
pared with the flush times'' of 1853 Let us
briefly state the case, and the principal causes
for this unexpected, extraordinary and lament
able falling OF in the fashionable mgrations OF
the present season.
The " flush times" Of the year 1868 COM
menced some months before the military pro-
cession in which the President Of the United
States marched up Broadway on horseback, in
q lively thunder shower, to the inauguration OF
the Crystal Balace. But the Crystal Palace
was the conspicuous stimulant to the rampant
spirit of speculation, overtrading, stockjobbing
and swindling which have since been brought
to light. The Crystal Palace was the great
Catholicon the Universal Panacea, which was
to cure the whole business world of New York
and the North Of all it's ailments. It was
| enough to know that the thing was to be done,
that the Palace was TO do it, and the modus
opeyondi was . matter of general Indifference.
The millennium commenced before the expira-
ton of the winter-it advanced with the iron
skeleton of the Palace-it eliminated with the
inauguration, ana has been declining ever
since. The whole year of 1853 was in truth, q
year of jubilee to our hotel keepers; but in
other respects it was q vast humbng, q delusion
and a snare.
Like the South Sea Bubble, the Yazoo swim
I'LL. 4.
was nothing like our Crystal Palace till ii was
tried. Stocks went up, goods went of like hot
cakes Of the richest qualities in the largest
quantities, and upon the most liberal credits
houses went up, stores went up, lots and lands
and all sorts of fances and wildcat paper went
up, including Parker Vein and New Haven
Railroad Jeremy bidders. Country merchants
and Southern planters, with their wives and
daughters, came pouring In by thousands, to
make their purchases to see the Palace and the
lesser lions of New York, and to visit the sea-
shore and the springs. The large stocks which
they had received upon promising credit
would enable them to flourish q little and enjoy
themselves; and SO the seashore, the noun
tains, and the lakes, from Long Island to Lake
Erie, and from the Hudson to the Saguenay,
swarmed with their overwhelming migrations.
Another cause contributed largely to swell
the tide Of the last summers travel from the
South to New York and the North. II was
the yellow fever and it's fearful devasta-
tons among the Southern States fa1king
The Gulf of Mexico and the Mississippi river.
Flying this pestilence, large numbers of South
ern people sought refuge here, and at our yari-
GUS summer resorts. And as vultures follow
in the track Of an army wasted by battle and
the plague. so the Southern migrations Of the
last summer 10 the North were fnllnMel hy