New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-05-12

On an averaLe IL seems that the failures were Tor
about f275 coo each aud, sdppos Dg the creditors %
each firm spart from those which paid in full 10 be
thirty the number Of houses inconvenenced would De
3sS6 and the average ultimate loss OF each would be
- GEO. Nearly one tbrd Of the suspended houses IN
London have paid in full ard about one-seventn In
the provinces.
The London Times makes the annexed remarks
spropos Of the New.York Legislature making Stock
ssles legal:
"The fact mentioted in the last sdvcss from Amer
ics Of the L. gatue of the State of New York bav-
ing passed bill leg azng all time barg cir in stocks
will attention TO be directed to the dscredabe
state Of the law on the same subject on TINS sloe
large proportion Of tire operations IN stock Exchange
are entered into for "the account. capitalist, for
irttspce thinking well i'll of the prospects of the
market msy buy or cell goo 600 Conlols arranging
70 conclude the transaction on the next settling day
these days being appointed by tie C0mmttse OF the
Stock Exchange at intervals of abou. month. lie
has thus tire TO maxi any plans he may deem desrs-
bic in the interval, or if he shoad change his view,
he can c,ose the bargain at the current price CT any
subsequent day, paying or receiving tue difference.
Tie system il thorc ughly advantageous, aud
venent is il found that majority % the dealrg- by
t. NEST eminent financial Establishments are INNS
nducted But It Is nevertheless eotrey Illegal eod
any person who may h4ve entered lnto c0Epact 10
take or deliver stocks at future date cau reputate
his bargain without being liable to any other couse-
quence than that Of being branded az cheat 10y too-e
TO whom his default may become known.
"In tie DAYS when gnoranc 20 prevailed on all the
true pm ciples of busiLess, aud when enatnents
against not only usury but smos every other netaol
ty which strewd persons contrlved to make the mos
OF their morey or goods, were considered essehtSI
this Interpretation OF the law Wa neld 10 present
very fine obstacle 10 gambling. Bu Ike az SAGA pa
teua provisions, il of course wholly tailed Ia lts OBJ
ect ard mss had any other effect than tnst OF
eIabhI few Of those rogues who a. extremely dis
tslt Intervals have sunk 10 that l0Hest .ep.h IN
which what called tebts az honor srs repudl1t-d
to disavow any contract that msy nave resulted ii
loss and to leave their br, ker IL bear the conse
Querces II will be SEEN also, ths, tie tendency of
the system be to impair the ie Ing OF pet Tor
legal ussgts, and this moreover, among Il clIss
vi ose dealings al in connection with money and
who should the refore be .imua'ed by every posi-
bic means 10 tone OF the most scEupuous rsspecta
bihty.
The prr cipal sctouss io the Stock Exchange
-t,spsactiors he II remembered, which sre eir.rt-d
daily f the Leading capitalists merchants and public
establi. hmeIts Of the c"nn'Ty-are CONDUCTED
better foutirg III 81 would be the they
tered inc smoDg OUTLAWS. Happily, THE has bean
eI0ed by b-d results as far q, ne genera. cdtlgt
ton f good fsh y concerned l1drid. has Id >
III. estsb -hm,rt Of voluntary cole. Shcl ir uod
70 exercise al influence serial - AIRY tbs ecu
arse from n Il stringent penalties O. ne
But the r. zach - the country OF soNng sIcl
Al on n III state Of Hfflrs = not on that ugt aly
esy diu, is. ed l. will be vel. therefore 70 folio =
the example # Ntw-lprk 80 ih,t all cpntracts Tor -
curties OF uhsteytr k.no may be bronght he. ceO,h
under the reI uar acton Of tie ID = q tie .aad.
M Sstterthw sCi'mar ssJstf iuercau - ,cSs:
Since our avices Of the 81 g-t. M " mkt ben
.ssy has been rather mote -s9 ilI :" Lsesi.
.a,y New York C,u;iAl Borl ia '.iel ir
scarce To- shsies are A'o ta'hei nop Md il.ta
C.uiisl Bonds hlu a, former fAes Lst taia M1ssEe
hs,. ben 6- IN her freely, s. froG 7lt % =! sui fs
tran sac.4ors Erie shares ttsn ps'. ,n - 81
Illinois Central Boz hav- en o'e nc lied o' es2-cy
a. Cent C,rtrciI lids Iiuois Get shares b-n
,,ry heavy. lnd e'o.e dull $; ~. d.coan'
'iCou.ol, cl,est "! To az m0L"y and s,c'lrt
tI- 4 81 llF III