The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-01
FINANCIAL AND CONNER GAL.
HONEY N n X EFT.

movements EXCHANGE
cate perfect disregard OF the approaching crss 70 Eu
rope The SPECTATOR only alive TO the facilities he
command and the banks TO The opportunities afforded
them get interest for money which does not belong
to them violate every sound principle Of finance and set
Taught the ordinary dictates Of prudence
sebDS Tho news from Europe admonishes commercial
that great revolution s at band-thAt money TO
become vaiuAblethat liquidation and contraction
longer be avoided evaded and that every part
Of the financial horizon overshadowed by clouds por.
tending the coming storm. Our SPECTATORS say that
prosperous and healthy, and can show an
indifference 70 foreign difficulties At banks
expand; stocks Of al kinds advance. Men oongra-
tulate each other Change 1t these evidences Of
prosperity, and thus the matter ends for the day.
Tho signs Of the times show noontesthly that
such u not TO be the and hazaxd
nothing in declaring that The direct contrary q
certain 10 overtake in fAncaed security.
absurd idea TO suppose that the transactions
the Stock Exchange In any way the reflex public
sentiment In respect 70 values or investment Whatever
they may have been former years, when railroad
terprises experiments, they NO longer The
Stock Exchange 10 the playground OF few shrewd de-
signing men, who with vast at their CONTROL
belonging TO other people, and large Of bold.
ness created by their In eecng themselves
the OF enormous corporations engage In the
game Of hazard just a long and Just oen they
borrow b oney nom the banks, from careful survey
Of the business Of the street they the way clear
TO produce what in Wall street ID called . corner.
The value Of money has nothing TO do with fancy
stocks only 30 lar - DO had otherwise when
men IN the humor 10 trade In them The price 10
day Of New York and Erie, Of New York Central, or
Michigan Southern 10 evidence whatever TIA, they are
wanted for Investment or that the public views with
concern The approaching financial and political disorders
Of the Old World. Those familiar with Wall street are
not deceived By the quotations OF the day sin lee
by the superficial and designedly deceptive state
menis OF many OF our cotemporares. We have Tho
daily evidence that the public Judge for Themselves and
no longer the dupes Of adroit schemen who have
for many years been successful In scistins OF their
rotten merchandise upon thoughtiess For the
past two years stocks bonds have VIGOROUSLY
creased In speculative hands enormous exlont.
Tho volume Of New York Central has quadruped Wall
street in single year. The same may DO said OF tho
Michigan Southern and several other railroad stocks Az
for the E!e has become what the HERALD has years
predictsd-the common football OF every man who q
seized With disposition 70 give anything speculative
kick. has, fear, other future than had the Had-
son River and the Harlem, as viii be shown 10 . de-
monsiraton nom tho forthcoming report OF Ia opera
tions for the past year.
Tia the common hourly talk UPON the stock Exchange
Of Wall street. that the late advance the various fancy
stocks enumerated In daily reports has Produced
BY the set OF spectators Who have made half
Of the transactions at the board for the past year. and
who notorousy The OF amount OF shares in
the various companies that ssasEcrs belief This an
idle suspicion, bat known fact Their daily habits Of
business perfectly well understood-the brokers en-
poyed clearly and Enthusiastically known and by
celebrated for their rnponsbilyther loses
for the past year toeraby well computed and their
hopes expectations and plans for the future careful
~ spotted considered. We profess 10 look with no
lnconsdcYabie interest upon the approaching game ssd
with the iacts before shall keep readers pro-
perry posted. The future d prexnsn, with important
changes The idea that We, In this country, are indie
pendent Of any convusons that may dhtrscs France
and England 10 simply absurd. Any panios disorders
that announced the other side OF the water win
md their corresponding panic and disorder here. me
exposed to DO injured by these changes
those where the managers have made themselves
spicuous upon the Stock Exchange and aoorns
lndusiriously 10 produce artificial price for
the stock rather than be looking amer
~ business and experimenting rs finances.
The truth d that The public have not and do not buy
them, and win not buy them matter what mar be the
state Of The money market and equally true that
knows the fact better than these cque SPECTATORS
themselves. now struggle for their 70. estsblah.
ment--noshing more. II by . seeming demand, daily
be effected there nothing gained and the expense
OF such operations Is very great. Thus far has only
had the enect 70 compel Thorn 70 remain the buyers and
10 add daily 10 their burthens. II seems hind OF
trbuiive justice Each day they nnd their lead be
coming heavier, while that OF the community becoming
lees. II any sci Of men VINO sold railroad
property-of their manurscture-coud be caught in
Wall street, and DO thus made swallow their ply.
SIC after the have been folded with debt Ike
the New York Central Michigan Southern and others what
blessing wond be. Those who have mpathzed with
efforts TO justice done In al ihese matters
have now only 70 exercise little patience We look
upon the result AZ certain, and calmly wait the momen,
for lie execution. Il impossible that the moment be
very remote.
The earnings Of The Ia Crosse and Milwaukee Railroad
have been
rrN week OF November. .tlb,OlO bs
secopd week OF November. ............... 1lAlo 80
rhrd week Of November ......... ....... l4,T46 %
IosAsss'ssss... .ssa,x55 ~