The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-07-24
FINANCIAL AND CONNER cIAL.


FINANCIAL AND CONNER ciAL.
MOEEY aAn& r.
sUspAr, July 2s-0 r. M
During Che past the stock market has been with
ont animation and NO partcuinr excitement has pre-
vailed among either operatrs. TIE tendency
of prices throughout has been down yard and the de
prcseion as great Is has, fear become perna
neut II was hoped that the panic had par
tally subsided there would be rally la prices for the
most Important fancies aud that portion OF the dcpre-
stiou would be recovered but such has not been the
CASE and the prospect at present gloomy enough FOR
holders The decline has curo1c, and we must
make the best Of it. Pubic confidence has received
too great shock, to recover at once, aud we
must look for q long period OF dullaess and
depression, before speculation Will again become active
true that we are very elastic peope-that We get
over the effect Of any financial and commercial dis
ster wthas little interruption general business as IN
any other part the worl but the events Of the past
three weeks have been Of character calculated to leave
an impression deeper and lasting, than thing
which has before occurred in the history OF the
copntry. community Like this where such unlimited
trusts have to placed in the hands OF individuals, the
fact that such trusts have been abused to such
tent sufficient in every mans mind the most
alarming spprehensons, and to deter men Of means
from placing their funds such dangerous positions
The attention Of capitalists has very recently been
turned to bonds and mortgages and real estate in
vesiwents Ia consequence OF the distrust which natu
rally attaches itself to stocks suce the expose lately
made. Bonds and mortgages are, after all,
abe most substantial Investments of the day.
With even ordinary care, they can DO placed
beyond contingency aud there Is guaranty about
thom substantial than in any other species of pro
perry Next to bondsana mortgages stands real estate in
fee is true that The ownership OF real estate psricu
lay that which productive in this city ats nded with
great many and much trouble in the way
Of taxes, tenants &c. but all these things are nothing
compared with little schuylersm, that may at any
moment sweep three fourhs of the market value OF
those socl securities which years have commanded
arge share Of public confluence For time, at least,
bonds and mortgages estate win be sought after
by capitalists ard large amounts of money viii be with
drawn for that purpose IRON stocks both solids and
fancies and placed where tina owners can inl II when
wanted Gradually Confidence will return to the stock
market and in time the will be again acted
which have recently startled the community
There is an excitement nd fascination about stock
spccutlons which many resist, and sooner or
later NO shall be again midst of fAncies, new
deiacations, new over issues, and nav developments
similar those which have almost periodically occurred
In this great financial We nust through the
phases before arriving ~ the result and there
arc operating this similar to those just
exposed There been curing the present ce1tury
time when free sort OF financial or
fascslty and would be too much to sup
pose for moment that Schuyler, Crane and Kyle were
the last Of great rognes There fcw Of the
same sort left who have found ont, and
ten where they w,n tara up next The mania for
Speculation and extravaganza few years Of prosperity
produces those infected along with such rapdity
that the seldom sufficient TO meet the wants
without rsortiug to species of dnanceering similar
to that prsctised by Sshd3lsr and others These
fellows led along at 6rst almost imper-
pereeptiby, into expenditures for the widest schemes,
until they got beyond their DEPTH and then they resot
to artificial methods to keep themselves aoat, and
finally all sink together. 1t is utterly out of the ques
ton for any community to go along for many years
the way We have, without bringing up with short
burn when least expected The construction of brown
stone palaces covering four ave lots Of ground the
expenditure of moderate sized fortunes ia furniture ana
fixtures and the general disposition exhibited to live
at rates which few years since would have been con-
se,td ruircus the richest cidzens have created
rctteancss tie affairs Of individuals, which it will be
-xiansst lesp from too public vse much ionger Il
viii not he long before we shall failare aztec
failure announced and it will 60 abroad that such
house has suspended payment having outstanding such
an amount OF liabilities but very few Of their creditors
will ever what used the bankruptcy and it will
only be by investigating the amount of expeudi
lures for private purposes, and the profit and los
account for dide FENCES paid in Wall street.
Ten thousand dollars per annum for rent of ware
house twenty thousand dollars per annum for the pri
yate expenses Of h OF three or four partners,
and other enough to swell the aggregate
to one hundred thousand dollars, the current ex
penditurcs per annum Of OF large down town
dry gooos jobbing cstab hrnens The ordinary, Iesit
mate business of these cannot under the most
favorable es produce net profit equal to
such er expenses and the principals are com
PEELED to to other mode Of raising the wind
Nothing to their perienced minds holds out such
rea. inducements specuations In fancy stocks in Wal
street feeling that it 10 the easiest thing
IN the world to make money that place. they enter
buyers Of prominent railroad fancy, which
half the seler says proves true to advance fifty per
cent in less than ten days This decisive hope only
sus aims the unfortunate specuator for rise but FIRE
quenuy induces him to launch out into extra
vagnncc fully impressed with the belief that his profits
the railroad fancy will pay for all Wnile the princ
pals are engaged operations the employees
the house sustaining thor extravagance b rirsct
6nancierng Of another ords and the draa i Keps up
with great yigor The purchasers Of aucy stocks prove
unfortunate, and by some accident Unforeseen Of
course by the broker, the market declined inst cad
of advancing and instead Of having the ploAa.re OF
paying over profit of at least thousand doi.as,
he regrets very much be compelled to require the
inns da.e pay nent of BLANCA in his fayor of twer-
ty Thousand dollars, and hopes that another tine
the losing party will tie more fortunate. 10 make
up ths many ether losses the merchant TleE his
luk again with similar results, until he becomes dram
ed Of ali his and suspension the inevitable
result.
MAJ seem an exagserstion, but We venture the
assertion that the three oat Of eTey Eve fall
ures in this city, be traced to speculation in fancy
stocl entered into TO sustain private extravapance