The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-06-09
FINANCIAL AND COMMERCIAL.

FRIDAY, June s : 6 P.

FRIDAY, June Is +. M.
Tie stock market TO-DAY had downward ten
dencs fram the opening. and the consequence is q
very limited movement In securities. Cumberland
was. ho sever ption, the safes of tina. stock
being large az the slight decline. Reading was
comps tstively quiet, ard other dividend paying
rarcsd stocks wore neglected. Holders wers not
disposed to SEX at the depreciation, and sbe amount
of stock fered was therefore small at the isst
board Illinois Central bonds declined Ii per cent
CunbeflsId C0sl, /; Hudson Railroad, /; Erie, /;
Harlem, /; Resdins, o; Cleveland and Toledo, Ii
Psnsms, l. Missouri SIS advanced 4 per cert; Nj
c,rsgua, 1; Illinois Central Railroad, 1; Gaens aud
Chicago Railroad, IL. Erie bonds, 1875, and Illinois
Contra. coLs.. uctisn and fee lands sold to some
extent-the latter at the dscline. The 90 emit al
vance in these bonds and other leading securities
wss too rapid to be pc; Marent, and reaction vas
the efoTe anticipated. Certain SPECTATORS take al
vantage of this iIstion to realize and put Sae stock
on tho market, with she hope Of coming In again
lower rates. These already able to do so but
the amount Of stock ffering 1t the decline Ia small
they will be COM eed to purchase In small tolls, TO
prevent another kuddsn expansion In prices. Al
active demand from any quarter would be sure to
pur up the market value Of even the fxncies, AID
the eecs win be much greater productive stocks
It may be well enough for those operating on large
scale to take advantage Of all these changes but to
the email holders 1t Is not go Profitable When
profit csp be resEzsd on . fancy stock it Is always
best to secure it; but on securities held FOR Invest
nent by outsiders, changes arc not likely TO
result fsvorsby; an advance Of two or three per
cent, realized on q small lot Of o goed SQUAD, div.
dend.psying stock, will Iot pay for the risk ana
trouble Of changing the investment. Il may DO
four difficult toreinvest satisfactorily the proceeds,
and if holder realizes on an inflated market, he
Hust re.puIch under the same crcumstan ,es, or
his capital - remain Idle while waiting for psrmit
depressioB Il Is the speculAtcrs business to watch
tie fluctuations, and, possible, sntciB Ito thsn,
The bulls ard bears must nave changes in market
value to realize profits. Dividends srs moth az to
them. They equsntly make three or four diyi
bends In rs many months, oy tho ups ADD downs OF
ths market; but the outside holder, who wishes to
avoid epecu ion and Its inevitable Losses. must
avoid these frequent changes and when satisfied he
has good security and can afford to hold Il for
dividends keep IL, ana leave the fractional huo-
tuaticps to the brckes Fancy stocks shouldAlso be
left 10 the regular PROBES ,ona speculator. In o;her
bands they aie totally unproducave. The market
at present Is quite free from stocks possessing no
actual pTesen: value. The fsDcies daily operated
in are, We believe, selling at prices rather usder
than sbove their intrinsic value, but for anything
beyond speculation, they are, for the time, per
fect,y useless
After the adjournment Of the board, the following
sses of bords and stocks we're made a. auction by