The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-11-28
FINANCIAL AND COMMERCIAL.
ONEY MARKE EFT.

MONDAY. Nov. -I-6 Pm.
The stock market opened heavy this morning. The
easct Of the foreign received by the Baltic has
been full unavorable as anticipated. The disposition
tose this morning strong but the absence OF buy
prevented transactions any extent With one or
prescriptions the sales at define Erie second
mortgage bonds fdl off q per cent New York Central
bonds, x; Nicaragua Transit III Cumberland Coal Il
Erie Railroad j; Harlem, q: New York Central Railroad
x; Hudson River Railroad "a Reading Railroad, H.
Illinois Central bonds advanced q per cent: Missouri 6s
J. Ere Income bonds sold at s5s per cent Erie bonds
1852 at s0a ia per cent The amount of business in
State stocks and railroad bonds was quite limited to-day
New York Central Erie and Reading the principal
railroad stocks operated in but the aggregate the
three today hardly equal to an ordinary days
operations in any of them The European advices
calculated to arrest every species Of speculation this
side Of tho Atlantic and TO prevent any successful nego
tation abroad for new projects We must make the
most Of internal resources and their Development
will Go more towards removing present embarrass-
nents than all the temporary foreign aid We could at
any time command. 1t is pretty certain that new
projects Of any magnitude DO carried through on
either side Of the Atlantic for time. Those which
have failed during the present pressure must remain
n dormant state without the possibility of even a re-
mote revival, and those which have had backbone
enough to sustain themselves under existing adverse cir
cumstances may gradually gain strength and ultimately
become firmly established. For than three years
the whole country has been engaged in devisng new
ways for speculation. All sorts Of companies were
formed for all sorts Of purposes. II was the easiest
thing In the world 70 get up mining manufacturing
company with capital Of one two million Of dollars
and the stock rapidly absorbed by the shrewdest
men in the market. The creation OF stock com
paniea appeared TO be the mania for the time
and very few escaped the Infection After awhile
tockholders began 10 look about for tho sub
stance. An immense amount Of money had been invest
ed in something and parties interested began be Curl
Gus to know what and where that something Many
Of them have not male tho discovery yet and probably
will The substance has not proved much better
than the shadow Fortunately, the outside public were
not attracted much by the bubbles Of theday They gc
morally collapsed in the hands Of those who inflated
them and the principal loss confined TO the agna
tons of the projectors With the collapse disappeared
many Of the milionares who figured up their wealth In
scrip at vera hundred per advance on its par va
lue, and for time past the principal business |
among this class Of has been the clearing away
Of the rubbish, and preparing for new start II Is our
impression that there win BE- long pause in their move
ments and II viii only be after the past losses have been
long buried in oblivion that they will be able to put the
same bali in motion again.
After tho adjournment Of the board the following
sales Of bonds and stocks we're made at auction by
Nicolay;--
$1,000 Kenosha City, Wis, bonds, 1879 int added 7s,t
lvW 90. 90. DO. do..........15l.