The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-03-02
THE STOCK MARKET.

Stocks during the Panie-The Recent I"ns-
taon-Scenes about the Stock Exchange, 81
The stock market again intermittent spasrs Erie
Michigan Southern and other ancies which three months
efnco wcre near zero have again ngrsA themselves
IN the confidence Of the increduious public, and are
grasped with avidty Of securing large fortunes
In the smallest possible time
Tho Olympic games, Intimately connected with the
rise OF Grecian power and influence destined to I'm
mortality The game Of poker the consecrated soIf Of
Arkansas and Mssissippi, hes achieved prominence
equally csssc, and Is tS the intellectual vigor Of the
Southwest what the Olympic games we're the manhood
OF Greece Whether practised across whskey barrel
over 90 pscayuns anty" with the chances Of "doubng
the pot" with bottle and revvying con
tents on one side and alow candle The other, under
the shade OF tas cotton wood the grass, In the apart
ments OF the hotel the cabin OF the during
the small hours Of night when the spot" sometimes
up 20 hundreds before the CALI poker the pride Of
every clsss-panter merchant raismAn deck hand and
darkey He who In the future seeks TO perpeuate the
memories Of the elOres Of the sunny land discovered by
DeSoo Will coats the many traditions and tales connect
ed with the game Of POKER and with these the basis of
bis erery labors, and with ulep At his side set the
wheels OF inspiration in notion he will depict his subject
In all Its poetic grandeur.
Not the lesst interesting feature Of the game
weaknesses of men The student OF human here
ends, small scale material and opportunity pursue
his investigations and to form his consusions he be
swerved from his purpose by overpowering tempta
ton TO take hand himself aud bet VOC high a hand
which ia morally certain not 10 win unless have the
right cards.
In New York poker ia not institution Here and
there faro bank exists by patrcnsg which the minds
of men whose lives purposeess secure, for an
hour evening, morbid exbilsration of mind; bu.
poker is seldom INDUCED in except for amusement aud
then general thing with counters instead Of coin in the
pct But where much capital conferred New York
the means are cot wanting crafty abnormal taste for
stalking ones substance hazsrd-the result OF which
will be 70 double the the hand 10 lose II in
the other with the chances in favor of loss tn the long
The purchase of stocks calculating the chances Of
their rise fan enable men 20 Indulge this fascination
without the compromise OF respectabily and standing
Each day the stock Exchange and the streets
the scenes Of gambling operations compared with
which the transactions at faro banks q bagatee
Hundreds of thousands sometimes made and lost
in day, and amid the transactions human nature
exhibits in the strongest degree the workings Of a
perverted ambition. To watch there is instructive
lesson in human life Arrayed against another are.he
"buls and bears the seeking to disturb the
quiet workings Of the principle Of healthy supply
statements and the subornaton Of vensl press and the
other created necessity, exert influence coun
ter to an unhealthy expansion-and the mingled below
pgs and of these opposing elements the financial
mepagerie pre- em'penty confirm the necessity of the
recent revvas in the churches TO bring realizing
that they have souls TO lose well money.
Many securities which had been for long time in high
repute showed their comparative worthlessness when
the shock OF the financial revulson came They took
their place among the fances and their prices have
approached But business began TO assume an &C.
tvitynd money accumulated in the vaults of the banks
and 10 this fact Is attempted 10 give the Interpretation
that the want OF confidence in the stocks which had
recently fallen without warrant and by various in
fuences brought to bcar The fances, during the
past month, have been inflated until, a few days
since msnyiof them have sold three times the prices
realised after the revulsion. The " bulls" were
in ecstacies; but Thursday last the rise
reached s crisis prices declined and each bulls' face
could not have looked saddcr aud dsheartcned
he had gone the entire morning without his accustomed
borns Friday, too, prices fell another point and the
dinners Of bu operators could set more heavily
upon their stomachs they had instead Of roast pig
pig of lead The necessity for unusual effort secure
kick stocks became apparent In days ovor
millions Of stocks had changed hands The electricity
applied, and Saturday morning the fancles ex
fever. The bulls gave jubian, below. The bears,
in duty bound, gave a growl Of dissatisfaction
Cumberland Coal, Eric, Harlem, Reading Michigan South
ern Cleveland and Toledo and New YORK Central had all
exhibited spasmodc activity, by moral boost of from
one. half to three per cent.
past twelve O'Clock the stock board and there
began 60 emerge from the door Of No q william street
an irregular lne OF men, There were old mel and young
men, bearded men, men with boards partly shaver and
merrwth boards wholly shaver, and men whose boards
weF microscopic possibility; natives and foreigners
Jews and GeLties, Christians and heathens, ortho.
doS and heterod;x, men generally bulls) with
convex lenses which magnify the value Of stocks
and usually bears) with concaye lenses through
which their value becomes beautifully less Nearly all
held their bands portentous books eight inches wide
and yard long, the length being valuable In the
ton OF the uniaated only In measuring their respective
ccnscences in raptacfions with another That there
had been rise In stocks manifest superanuated
bull, who had been complaining Of rheumatism for three
days, exhibited elasticity Of step which
dcae that youthful blood again coursng through his
veins Another bull while rushing frantically towards
his Office, allowed himself to be stopped en-
ht course by the importantly OF an apple
ghI, Of whom he purchased three apples at
Two cents each, gave her Eve cent piece ana amer tell
ing her never mind the change he rushod 20 the cor
nor Of Wall and William streets, slapped boot black on
The chops because he wasn't in his way and suddenly
ctappeMed An hour subsequently be In the
attitude Of Thanksgiving the Reformed Dutch church for
the eight rise in frie which had redounded much
ance, showed an exuberance OF joy ss he came
into INTO tne street He rushed towA1is Exchange
pace on DOG uot, but steppnr on bit
Of orange peel, in the twinklipg OF q drurnstck
be simultaneously found himself IN horizontal position,
and @rnished at the extent 10 which hts csirvoyan
powers had been extemporzed IN enabling him TO
stars ID broad Daylight But animated by the Christian
sentiment OF forbearance he only allowed himself hur
proiane anathcma against the INK nown individual who
bad deposited the orange peel After which he seized bis
etisnosted book, marched to Demopicos and secured
himself against the prospect Of lame ankle by bathing
his stomach internally with brandy aud sugar young
bull operator, with weeds on his bat, button
holed oy ympathzng acquaintance who
mg the evidence Of tho recent bereavement
told bim that he desired TO extend to him bis
wsrmest ~ mpahy for bis recent loss. The young bull
operator being animated by bis ruling passion protested
that he hadn't lost but had made s70o the day be-
fore by his transactions In Larem. But whilst this mis-
apprehension was being explained knots Of brok
ers and others bed begun congregate together and
drive tner transactions The united voices OF bali do
zen OF these groups assembled the corner Of william
street ard Exchange place made an admirable confusion
and the ds1oined sentences gathered made q hodge
pooee Of ncoherence, OF which the following may
Michigan Southern, tell you won't Ike dividend