The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-06-24

There was decidedly better feeling in the stock
market to-day and the transactions were more of a
speculative character than have noticed for ionc
time The apprehensions created by recent intelligence
from California gradually disappearing; but tn
be easily removed The failures which
almost daily take place in different sections of the Union
may be considered slight indications of the state OF
things generally but do not consider them sure
signs Of the approach of revulsion such we have
before experienced In the midst of the best Of times
suspensions reported; and If could show tho
actua! condition Of the affairs of each OF these failures
should, doubt be astonished that collapse
long delayed That the great body Of merchants
have become very much extended and expanded in
their affairs, there is not the least doubt; but that
they are, body, upon the eve of bankruptcy, Il
great an untruth ever was uttered In most
Of TIE revulsions have Witnessed the failures
were comparatively few; but it must be borne in
mind that all or less sufferers Four or five
hundred failures in city ike New York would, perhaps
reduce to the verge of bankruptcy double that number
who might weather the storm but little better tn an
pete wreck. This is the effect Of commercial reyuon
and but portion the distress desolation it
spreads broadcast in its course, is known to the
world. Thofe whose insolvency is publicly announced
supposed to be the only sufferers; but unfortunately
uch is not the The aggregate number OF failures
in this city in 1857 did not exceed FIVE hundred and
compared with the total Of mercantile houses that
time in existence. disastrous that year,
elapsed before the first ymptems returning life be
visible. The failures which have already taken
place this year doubt fell heavily upon those imme
datey connected with them and may compel others t.
suspend who, but for such contractions ia their
sources, would have been able to meet punetuay al
their payments In this way difficulties and embarras
ments accumulate and extend, and the rcvusiOn gain
strength. Confidence between man and man is soon
destroyed credit prostated and all the evils attending
such state Of things along in their usual
An abundance of money cheap rates Of interest," large
supplies of specie will not suffice to strengthen and pre-
public and private credit California may be pavet
with rocks Of gold; the banks in Wall street nay be
filed with bull ion but If person has not good credit it
is no more than sounding brass tinklng cymbals
Credit Is after all the great regulator for without that
60 beyond bis immediate capital but when
entire community is filled with doubt distrut the
difficulties increased thousand fold, and PAM
spreads among those who have the 70 extr
cate others from their endorsements and it ecomp
impossible to get dollar, where perhaps weeks
before 1t was Easy enough to get thousands.
Quotations for nearly ali the leading fancy stocks ad-
vanced TO day considerably At the first board Reading
Railroad went up y per cent Harlem, =; Erie Rail-
road Ia; Norwich and Worcester, a; Farmers Loan
"a Portsmouth, a. Erie Harlem, and Reading Railroad
quite active the demand being equal 70 the supply
at our quotations The market has opened much more,
buoyantly than anticipated, and the appearance o
things in the street rather encouraging for held
ers Of stocks.
The receipts at the Office Of the Assistant Treasurer Of
this port, today amounted to Sl35,o2o; payments
SOCKS 27-bslance, s21l6oo9 10.
Twenty year bonds Of the city Of St Louis bearinc
Fix per cent interest amounting to fifty thousanI dollar
can be obtained Of Clark, Dodge l. Co, 81 Wan street
The interest on these bonds Is payable annually at
the Phenix Bank, in this city and an investment
they are equal to any public security bearing similar
rate Of interest in the country The finances Of ST.
Louis are in hourshipg condition The revenues f,i
the present year will exceed half million Of dollars and
by special clause In the city charter the ptcre,
bonded bt must be first paid before appropriations car
be made for other purposes The entire debt Of the cit,
will not exceed at the close Of the year ore and hal
millions Of dollars.
The last stmi-apnua report Of the Boston and Main.
Railroad Company gives the exhibit OF earning
and expenditures for the six months ending May 1851
compared with those for the corresponding period IN,
previous year