The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-10-01
StOckjObbing In Paris.

| THE WAY AFFAIRS ARE MANAGED AT THE BoURsE-
| EXCITEMENT OF GAMBLING IN sTcoK-A CHAPTER
OF MODERN FRENCH HIsroRY-rHE CREDIT
MoBILIER.
Apropos OF the arrest this city, OF the Partisan gen.
temen who have had fee from that gay capital
count OF unfortunate specuatons the Bourse and Of
appropratng to their certain number Of shares
of the Northern Railroad Company Of France an inside
view into the management Of that great instituon-la
Bourse, the Stock Exchage-cannot fail to be highly
interesting We have facilities for supplying that inside
view and therefore proceed TO show the modus
randi Of the French nanciers of the bears and bulls Of
the Place de la Bos and the working Of that system Of
speculation which has received its highest development
within the period since the establishment Of the
Empire in 1852, and has within that brief space Of
| time made and shattered princely fortunes
At the time OF the establishment Of the Empire there
were many OF the Emperor's adherents whom II was
necessary to reward and enrich at any cost In 1882
when Louis Napoleon entering the first months of
the Presidential term OF ten years. which he had de-
creed himself he found himself in the dsagreeable po
son Of having all his resources exhausted His friends
and retainers mostly in the same plight They had
tried and made the most Of all the expedens they could
think o-a except one, the Aladdn's lamp Of the En-
pre-the magic Stock Excl ange. They were for some
time puzzled to know how they should extrcate them
selves from their embarrassments Their old creditors
were noisily demanding the payment Of their claims
Their new furnshers not having much confidence in the
stability Of things, presenting their little bills
Money absolutely needed. II must be got by hook
by crook In this pressing necessity resort to the
Bourse decided on the last chance TO repenish
their empty treasury.
The decision being taken, they set about putting
everything in train that was likely to produce
This great gambling shop of the French government
skully arranged the most approved fashion, gull
the Jo9ee and to enrich the blackeg operators who
were allowed share in the management Some time
famshed journals Of the capital who were let into the
secret kept up continued blare of trumpets about the
Of the grand naton-ths discovery Of the phlosopher
stone just then made They directed the attention of
the million to the rse OF stocks and TO the fortunes that
reviews Of all the stocks on the market, and
by imaginary calculations they proved that they
were all ranging below their value Two OF the
editors Of these journals, who at that time in no bet
ter condition than our own oyster house critics owing
long bills TO their tailors and aundresses-suddenly
emerged from their obscuriy under the inf OF the
new light. These gentlemen-Messrs. Mires and Mil
haud-are rich enough to found cities or to builc
endless lines OF railroad Their wives and daughters
quent the most fashionable salons, reunions and prone
nades, and outshine all competitors in the glitter of their
jewels and the splendor and c)sness OF their attire
pes that by and by the whole world of Paris locked
in some odd nook or other, took it from its hiding
place, and rushed in hot haste to invest Il
in one. Of those wonderful enterprises Of the
day that were declaring such large dividends
Further inducements to Investment held out in the
argument that money was SO plenty that was becoming
to AZ per cent Even the Bank Of France in tuced
to lend its aid TO this scheme Of speculation by lending
them all the money they wanted at the rate OF four
cent secured stock and by receiving depo of stock
advancing cash them the rate Of 500 francs for
LOCO francs of stock People having those facilities for
borrowing money and for making fortunes, anxously
awaited themselves OF them. They went 10 the bank,
borrowed say 1000 francs for which they had only
pay forty year interest," rushed TO the Bourse
and vesed il in some stock which was to increase In
value from 900 to 1900 francs in fortnight This was
ad IN fha nj tha mia
This the bright eide Of that tcene which TO thou
sards brought such stunning consequences. After all
theee measures lad been pared to elect the ruin OF
country-n they did succeed-aer all the stak
were laid down. nothing remained to commence opera
toIs but to bring all the accompces together For this
purpose all the half ruined bank and brokers of Paris
assembled with pee Pile familiar with bankruptcy
Mr.. Mony, (ouis Napoleons cousin. and now Minister
to Rusfia and Mr.. Foud (his first Minister Of Finat ce)
Mt their head Thsr roles to buy up stock 10
make scarce on the market and for thus purpose they
called In the services OF stockholders, (xnown
there lame ducks These gentlemen (Messrs. Morny
and Foold were subsequently with the Cross
q the Legion Of Honor-probaby for the good service
they rendered on the Bourse.
Everything being thus prepared, the medatcd journey
Of the Emperor to the South of France was determined
This journey represented the end Of the mis-
fortunes Of France and the beginning OF It's happ
The variable French people seduced by these fine
hopes Then II that there commenced at the Bourse
OF those rises that have before been equaed
The railroad shares creased days the rate of 20
per cent but still subject to enormous fluctuations.
In taking advantage OF these MISUNDERSTANDING mea.
10 cause thcm-knowng when exactly 10 sell and
when obuy consisted all he profits ofthe business And
L Is easy 10 how these profits and conse
queniy losses TO others must have been.
The excitement wrought upon the public mind was in
tense. Nothing else thought Of but the Bonrse.
The spirit Of speculation permeated the whole community
As instance OF the temptation 10 this species OF gam
bling there was some anecdots current n the
Boufse, OF q wealthy man, who partly In jest made
little operation ne told his friends that he might buy
sporting sog and so infatuated at the game that IN
O few months he lost tis and bis re's fortunes.
No wonder that the inaiuaton shoud be intense and
general One had only TO invest 10 stock odsy, and To-
morrow be became rich. The spaouator Who had made
purchase Of htocs TO day went home and INDUCED
golden dreams oct perhaps the nrst thing that would
meet his eye on the morrow would be report sSltuy
circulated, that ihe Emperor-then on his southern
iour-Hs badly received Ia a Certain city
that In another city no was ared at that
The unfortunate chestcd Spectator would Immediately
reading these reportss Of which were got up TO
der-rush 70 The Bourse and sell all Dis stock linen u
would fall In price. Then tho managers would buy in
Immediately would be found out that nothing but en-
thusasm attended the steps Of the Emperor Confidence
managers much increased rates and during the
months Of the Empcrors absence this pleasan, and
a,abe joking was carried on. The kmpcrors agent on
the Bourse ali this time, one Of those ovcrseers Of
the ante cha nber who toe &C Secretaries but
who really know moro about the secrets OF the b0for
Than they do OF the state. HIS namo wa, NJ Chevser.
This excitement and az iation was continued for ave
Eetks after tho Emperors return 70 Paris, Tnen
the trick Of the wizard U.s. played out.
The imperial coerie hal disp ,sed Of all their stock
the muttudes Of purchasers who were becoming more
ADD more excited aud ntoxicated they retired from
he scene This was the sigma for fall az fabulous a.
The r,e had been although the Mont daily
nouncpg the favorable reception given by all the states
of Europe the OF the restoration Of the Empire
This tall did stop TIL two three months aisr-scr
Louis Napoeons marriage-a which time the enriched
saDg began 10 think that they might safely buy stock at
its then depreciation
The managers Of this rice little scheme had, not.
witnstandirg, come cheating among themselves.
For n long time, said that a General
high in favor, had lost and not pad, many
millions ns have been embezzled by cashicrs
81 the Northern Railroad Company-and In spite Of a
weak article published that subleot IN thc-Myausfr
the government organ--t found necessary sum
mon that same gtnersl-Ssint Arnaud-to carry his
sord 10 the Crmes, that credit might be preserved
In France n that time too, that three gen
erals hacked u another The saloons Of the Tue
res having exchanged accusations Of the robbery OF
francs committed 10 the cabinet OF the Emperor
himself
In fine, aner the great fall-for which there
more reason than there had been for the great
new campaign entered on but this time under tue
auspices no, Of such as foult, who hal become