The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-09-04
FINANCIAL AND COMMERCIAL

srYnAY. sentemher 80 /

~.
Quotations Of fancy stocks current at the sose of the
market yesterday compared with those ruling at the
close Of the previous week, show general decline and
the extent Of the transactions shows pretty general
desire on the part Of present holders 10 realize. Tho
tendency throughout has been steadily downward and in
several instances lower prices have been touched han
ever before known. Railroad bonds and stocks have
particularly Suffered and there are no Of bot
tom yet for some Of them Erie has been the milestone
about that class Of securities and It viii be long tins
before they will recover from the effect of such an .x
met as that presented by this company The p s.ton
Of the Erie company is such preclude all hope ito
recovery There Is some talk about making q financial
statement, to show, possible that the present deprss
sion unwaanted not justified by the actual con.
diton Of things Nothing would give greater pleasure
than to be convinced that there enough life left in
the concern to nurse again into strength ami activity
but we fear that it is past all haman aid. We donbt ii
powerful galvanc battery could get good strong
kick out of It, These who heavy ose.s by the de-
cline in Erie, have been most grossly deceived by the
companys reports and by the managers Of the company
individually Some OF these managers have deceived
themselves while others, for some time previous
to the recent depreciaon privately selling out
information received from ono Of ths company's en-
pioyes relative to revenue, operating expenses at
the time they were publicly putting the concern and pre-.
easements These things frequently practised in
Wall street. that nothing thought OF IT. and We do not
aude to here for the purpose Of condsmuing those
concerned, for the motto in that locality is aure gui
pe It only serves to illustrate the way Of dom bust
ness among stock spectators who happen to be in the
management OF any fancy stock company. Those who
supposed to know the about such do
more to draw in purchasers upon false
than any one else; and outsiders who have been serious
find upon reflection, that good friend
in whom they had implicit confidence, and whose posi-
ton was such gave his honest opinion value induced
them to purchase at the top Of the market The expert
ence Of the past six months has been such as to utterly
destroy all disposition to enter into new specustions
and 1t will therefore be difficult to get up an imitation in
prices except In extraordinary instances There may be
cases where stocks possess greater actual than market
value where certain movements have been male that
give different complexion to the companys affairs,
where an improvement in prices would be iust6ed but
az general thing, look for favorable change
and may as well make up minds for long period of
duness and depression. Money is abundant and chea,
enough for the ordinary purposes OF trade The premium
Ut which the New York State loan taken fex days
since showed that there is capital enough Offering when
the security is undoubed The great difficulty In the
fancy stocks Of the day is a want Of confidence.
The following is official report of the specie exported
from the district of New York; from August &c to Sop
TENDER 2, 1854, inclusive
SHIPMENTS or SPECIE FROM THE PORT OF NEW YORK.
Bark r. s. Casanova, Ma-acaibo, do 49,. 1900 90
Steamer Arctic, LIVERPOOL, Cal, aold lb, oQ5 ON