The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-04-03
FINANCIAL AND coMMERc GAL.


THunspAr, April Is r. n.
The stock market opened this morning wish down.
ward tendency very small amount Of business
ans acted and nothing but the efforts OF large hedsrs
kept pr,oes nom touching lower points A. tbs nrs board
Canton Company declined per osrs Michigan Southern,
III Gslena and Chicago "a. Cleveland and Toledo advaso
cd per osut; La Crosse and Milwaukee, ~. The prno,-
pal operations In Michigan Southern TO day were ev,
IDENTIFY by parties realizing. The sales time M buyers
option were without doubt for speculation, or made BY
the compsnys brokers 70 sustain the market The bull
organs perfectly horHsd st emerty In exposing
the stock bsues Of the Michigan socthern Railroad oom
pany such outrage deserves the seversst ceusure,
according the dsas Of The Te speculaors The prea
have right according their code mako such things
public they calculated 70 depress the market value
Of the stock and alarm outside stockholders urged
that any railroad company dstecsed In such scs ID
deeply wrouged BY exposure, and that the sole objesi
10 depreas the current price OF the stock for the bcnen
Of few short spectators. These organs can see no
other motive for giving the public important facs 10
sardng great public interests. Their vision confined
entirely 70 TIE limits Of Wall street, and anything said In
vos OF or against any security cannot by any poe
sbiiy be for any other than private purpose. Such
10 thslr policy and suoh their practice. We shall mot
make any effort convince them 70 the contrary or be
The cas influenced In our course By any construction
put upon our motives the community ct large are with
yews In every instance where hasbeen made manifest
nat system Of management has been pursued cAlcu-
lated TO sjurc the stockhodes interests, we have been
The nrss 10 public, and caution all concerned.
Amidst the many Incorporated companies which have
ccme upon this market, II has been 81 times dfhcuk 70
seeos The good nom The bad. ntale ohar hes sos n
among The wheat In spite Of all The efforts 70 ssparsss
them, and much injury has bean produced. me mining
mania which svsp, this continent In 1852 and 1853,
W. probably for the time equal to anything Of hs Kind
ever known.
excitement In copper mining, and the whole community
~ss more or lsas sseossd In is4T aud lsas The oslfr
ma gold fever ased intensely, and the whole world vH
sssed with H. The IAss Superior copper mining mania
resulted In Q collapse. Only about two or thrcs Of the
masy companies started survved, and hey struggled
along for ysav before proving productive. The oalcr
mia gid movement vn more OF reality. The great
cold product OF these nss inGamsd the pubic mind 70
such an srsnt shas hose VINO could not depart for ths
Dorado Of The day, turned their attention 70 the nine
ri resources Of their Immediate locality The services
rsolossss Assayisn, surveyors and nisins cagsnssu
we're put rsquisiou- and their repcrts created the
moss insAnss exchemcpt some Of the mort Distinguish
ID ohsuasu and scientific Of The day fosnd full
paoypspi In examining m.ssra lands. specinsss Of
gold silver copper Nod coal and other ORES were
sybsssS and she eyes capitalists feased wxn ths gin
,srns evidences OF untold wealth II sho that ai
oar ysry doors We had equa In reAnsss and vaue
TO any ever heard Of Ia any olher part Of N, world
Many Of our shrewd. cool hssdsd cautious and cal
cularse capitalists were attracted by The realities present
Cd spssssd greatest ssshusasm Into toe most
promineps and promising projects ofhe day Capital
freely Invested, Afser the most thorough In
vesrsauos. All the senses we're brousht 70 bear
n testing ,bs evidences exhibited, and oil were
equally ssxssed. Men VINO he'd accumulated fortunes
10 pursuit. Of the lessims,s hines Of busibess-msn
vho never before touched speculation 10 ssy shape
mes vino brought she most cast iron oommor sense Ia
The world 10 upos every transaction entered s,o,
became involved In the last mining movement 70
tent no, generally imagined. Hardly man OF any
Ia the unity escaped Capital Tor these
ranles was raised 70 any amount merely BY oktns for H.
evsry part OF The country mines we're discovered
OF extraordinary richness New composites into
erstescs every day end Of the most errsvsrsn
snicpanons were formed Of shs result For the time
absorbed all other topics tho stock IT, durius
the early progress Of thb mania, had beer sho
OF hcse mines Imssiusry end that the com
ranes bcgus-n the moral insar ity a. us period
had been orposed aud the vty -hereios hsa been
pointed oct would lsenss e oy heeist the
| sdmenuons Had 81 that time been clearly shcrn
that not ica q the Anticipated rcvv could have been
resnsed no one would have pad the least snesou 10 n.
| or beer influenced 10 any ~sy BY sse efforts unfor,o
us,ey tbs interest At that tine IN iufsscy-A We,
new shirs, spd The pabh noi reiyed hold Of u with
] ,ydty Is hss no, eeeo wses arc our people, viii