The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-05-24
FINANCIAL AND COMMERCIAL.
ONE MARK EFT.


very large amount of business transacted to day
in the leading fances most of which time both
buyers and sellers option Cumberland sti holds the
lead far activity concerned and believe, in
the extent Of the recent advance but have very little
faith in its permanency 1t is true that there is large
party Of purchasers and among old holders good many
strong men, but il viii be dfcult TO bring in others but
those who form the combination of Outsiders
will not operate in it, subject to any changes tho clique
concerned may determine and is therefore doubt
full about the extent of the Improvement The bears evil
IDENTIFY have fears of a With capital OF five
million there need be apprehcusions of scarcity Of
stock. II might be better policy for the bears TO
give the bulls in this fancy clear field for time
let them get up moderate imitation, ami snen
put out contracts actively, with wider margin for
o decline. 1t is not a good time 10 buy stocks,
particularly the worst class Of fances. Reading
Railroad sold largely to day at lower prices This is
very sensitive stock ana auctuates suddenly and easily
We have frequently noticed that when it commenced
going up, 1t went up very fast The Company are,
believe doing larger and profitable business than
ever BEFORE the dividends will continue with per-
haps increase in the rates Erie Railroad has lately
been quite steady in market value, and within day
two moderately active. Spectators have particular
desire touch it, and the bears find great difficulty in
putting out the right kind of contrats The company is
embarrassed and its credit has become much depre
cated that 1t would be utterly impossible to negotiate
another loan. Its floating debt Is getting to be trouble
some and is reported that individual acceptances for
account Of the company in circulation II may do
Tor time for parties largely interested stock
holders to step forward and remove any embarrassment
any stock company may labor under, but it will be
losing business in the end. New York Central Rail
road, at a premium of AZ per cent, is consider
ed by many very cheap and the purchases have lately
been large investment There is doubt but that
the company earning good deal of money, but the
road is operated extravagant and the expenditures for
construction apon most extensive scale. There is
no end to cost of these works Year after year, mil
lions upon millions of dollars added to the origi
outlay until nearly all finally sink into bankruptcy,
and continue after merely for the benefit Of those direct
ly engaged in operating them The smaller class of rail
road stocks have not been very active lately and that
ITSELF and there not many sellers at present prices
Hudson River continues quiet, but firm, at our quota
! TONS All the Western railroad stocks not in as
much favor heretofore The fact they have for
long time been too much inflated and it has been found
impossible to sustain them Larger dividends have been
paid than have been earned and stockholders must look
for more moderate rates after the different companies
have raised all the money they want and necessity no
longer exists to keep up artificial credit Compe
ton will its work Of depreciation The Western
country with railroads, and not in dozen
pays.
After the adjournment of the board the following sales