The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-11-25
sT.AfsCiHs- Ard CORNER CsHt.
N a n 1cY NJ A ~ ~ FIT

THURSDAY, Nov. 24-6 p II.
The bulls ant bears of Wall been busy To-
cay di cussirg the good Thugs spread be tAem ia
st-ad OF discussing the ups and downs fancy Stocks
the recent defaloations among the banks. The day
has been very generally Observed and we trust its ia
husncs upon the minds II ock specuators will be Of
saluaIy character In the abserce OF operations in
fancy stocks and ether movements of spectators and
those who gregae ia Wall street. no hing more
interesting amusing than the clear conpssiye and
cplicn denial Of the statement We made . fe
days since regarding certain defalcatons among tbs
Wall strset banks. Tneae contradictions appear
to have been given very reluctantly, and have
evidently been drawn from them for particular purposes
and the public can take thsm for what they are worth
That they will accomplish the object aimed at no one at
all acquainted with the internal CARNATIONS and nan
ageuent of the banks of this city, moment be-
heve The way these institutions created and carried
on, Is enough to satisfy any one that they hing
more than so many stock sobing head to
tail Wacn look at the class of who manage these
banks and many Of the nos exensiye fancy stock
spectators of the day boiling prominent Positions
are prepared for any deveopemen however startling aad
extraordinary it maybe In relation to the fact Stated
few days since regarding certain defacaons deficiencies
or denquencies the deptls referred to effect
They generally believed and out Of Wall streets and
in certain circles outside OF the bank parlors all
the particulars well known and freely discussed
Those intimately acquainted with the odus oraad OF
financial and commercial Affairs, know that dealcations
can be and have been carried for years without parties
most directly interested having knowledge fact
Fogeries Of an extensive character have been carried
along for months and the discovery last mads by the
nerest accident. In commercial 6rms among partners
engaged in mercantile business have frequently
corded the grosssst swindlipg operations practsed
BY one member, which for long time were
unk uown to the others. Individuals have main
tanned high credit FOR years st.er they have been
hopelessy insolvent There At this moment ia this
city hundreds Of mercantile houses the member OF which
d, not know whether their affairs sound solvent
whether they bankrupt and there many others
who believe themselves wealthy but Who ia fact could
not wind up their business and pay fty cents the
dollar Of their indebtedness All engaged in financial and
commercial pursuits knew that dangers bsse. them
every side, and that it is impossible to tell when
thing may ne. 70 destroy the best laid plans and
drain away the product Of long period Of indus
ty 1t appears to BE- principle pretty sener-
ally acted upon, to keep what you have got and
get what you can aud to wealth, honestly IL you
but at all events, mako fortune, with the idea
that the end sanctifes the The banks practice
upon this principle extensively The rapid Of
these in this city in the face of rapid
mutation of private apta in the hands OF private bank
err, has created rivalry and competition which som
danger Instead OF discounting the best business paper
In the marh they loan upon al sorts of fancy stocks
and their best the bsoi specu
lators OF Wall street. instead Of the heaviest and wealth
lest commercial houses of the city 1t is this change in
the system of doing business, in connection with the
cessity of paying large dividends capitals,
which has led TO the defalcations alluded to few
Gays since. Thsrs In this city Atty Ave banks,
with aggregate capital Of SO Five since
than half the number WITH half the capt.
tai The amount Of regular, safe legitimate business
Offering is not enough TO sustain ali tLese Institutions,
the for the custom OF stock spectators has
therefore been very great Those who have got the
o 1t have made rather elm profits far and the pros
poets by very datterng Ii the uncertided
worthless stocks in hand put down to the amount
profit and loss, there would be left In o. these
banks n mighty mall balance for the next semi annual
DIVIDEND. One of the banks named has already passed
DIVIDEND account of Losses and will pass another
another the dsiaca ton discovered few days after
the last dividend had been paid and II will require the
Suspension Of at least two semi dividends to make