The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-01-28
FINANCIAL AND COMMERCIAL


ft-esaHa SUNDAY, jan IT'S p. n
he receipt Of iassr advioss nom Europe last week
completely unsettled the stock market sirce the srri-
vai Of ths Baltic ths market generally has bean lower.
Yesterday the tendency upward. but 1t win take
s to restore confidence, and show thoss interest
cd that they have been much frightened than hurt
It 10 most extraordinary how little operators in Wall
street really understand the financial questions Of the
day Advces from Europe, shich in act calculated
oeve greater activity TO all works Of internal I'm
provcneaJ which the hga prices for our
oresdStu and provsoas, which s.esdiness and
psrmanenes in our O@o prosperity, and gradual i'm
provems1t in cur finances, looked upsn By 6sx
stock speculatrs in light just the reverss-and down
goes prices leaving the great mass OF outside holders
AghAst and panic struck 1t Is enough Tor Wall street
that consois arc down quarter psr cent, to rush
n and sol ths best stocks ON the market risht
and Left. 1t 70 enough for stock spectators.
either Of the bull or bear breed that the d.
rsctors Of the Bank Of England have inciden
tally talked Of raising the rate interest an eighth
or quarter per cent to throw stocks upon market
let them % at any prics IL Is enough that the most
riang and most absurd financial movements should take
place in Europe, Asia Afsa get our stock specua
tors in motion and indnce them to commit the rid
culous blundsrs TO submit serious l,ssss In
thear blind exetemsnt they commit the greatest mis-
takes which they realize after few days reflection but
~ No eotuAA bervlc0, upon Occahon
they rush wildly again into the Fortunate
l during the prevalence Of there panios class Of cool
headed shrewd operators appear In the market, and
quietly purchase large supplies OF hrst rate securities
and patiently wait the return of the second sober thought
The Low prices ruling at the close Of last week attracted
good many outside purchasers such stocks Ga
lena and Chicago Railroad, Milwaukee and Mississippi
Reading, Michigan Southern, Chicago and Rock Island
Ave been picked at prices low enough to y any
one Of moderate desires. Purchasers of Gaena AMI Chi
cAso a. present prices will refuse, few weeks hence
large profits And many who hest tate about buying
Will before many weeks elapse willingly pay 81 higher
prices We have known shrewd capitalists pay I25 per
cent for this stock who would not touch it at Ito per
cent, and We sh Ill see the thing asain.
The money market continues easy. We likely to
soon have another important addition to already
large specie The banks strongly fortified
with bullion, and they moving cautiously and jad
cousiy The discount line continues but moderately
pandsd and have every TO be- evs that any
imitation viii be gradual for the benefit Of the CON-
merssi classes The demand for money brisk but
beyond the supply There is strong under curren. of
confidence In the pubic mind that prevents sny these
absurd rumors relative TO and financial evusions
from penetrating below the surface. The effect of the
falsc reports which, from time time from poll
oai centres eaervescent and passes off, leaving
more healthy tone 10 public affairs and less the
power Of any European government to arres. 10 the
slightest degres progress t, unE n;ted commercial
prosperity.