  We present an analysis of the thermodynamic properties of small transition
metal clusters and show how the commonly used indicators of phase transitions
like peaks in the specific heat or magnetic susceptibility can lead to
deceptive interpretations of the underlying physics. The analysis of the
distribution of zeros of the canonical partition function in the whole complex
temperature plane reveals the nature of the transition. We show that signals in
the magnetic susceptibility at positive temperatures have their origin at zeros
lying at negative temperatures.
