New-York daily tribune., 1858-09-13

The market drags from day to day, notwithstanding
the approach of that period of the year when srecua-
ton is naturally most active at the Stock Exchange,
and there are evidently causes for this duness which
do not snpear upon the surface We have, first, the
strong cling OF dstrust entertained by the public in
regard 10 railway securities which has scarcely had
time to wear off, though perhaps less violent than at
the period when the losses were fresh This is proba
bly ta greatest obstacle to revival Of business at
the Stock Exchange-extending, as it does, over the
length and breadth of the whole country, and reaching
IN it's influence to England, Germany and France,
whence came good share Of the support which gave
veor and activity 70 the market prior to the revulsion
Of Hast Autumn. The withdrawal of such powerful
customers abroad and the indifference OF those at
home creates vacuum in the market, which grows
more papabe wait in vain for thove great stock
movements ordinarily witnessed in times of e1traordi-
mry money ease and at period when business usually
acquires s greatest volume and activity in the year.
These are doubtless, the causes which render this
period of money plethora different from these here
tofore encountered in financial history as 10 its eff
fects upon stock speculation. The feverish move
ments of last Winter and Spring were the first spas
modic impulses Of market reactng from great
depresson-the sudden rush OF unemployed money
into the field Of speculation, before men had reflected
upon causes and effects, and the consequence Of a
very natural desire and hope the part of those who
had made losses to regain their money if possible
Had this Improvement been sustained-as it could
have been only in the development of intrinsic merit
in the stocks dealt Insufficient TO justify the higher
valuation established for the time, should now, in
all probability, come upon period of gigantic specu-
latons but the sudden and dsheartening fall which
ensued frightened outsiders from the track again most
efecually and now to tempt them back again. the in
ducemen,s must be Of strong and substantial character
The fact that Railway Stocks constitute large ma
iority of those upon the Board list which
lent for speculation gives to this feature of public dis
trust peculiar significance and Importance in con-
sideration of the present apathy at our Stock Ex-
change and we do not hesitate to pronounce il the
material cause of inactivity. Much of this lack Of
confidence is entirely justfable-t would be folly to
deny it. The wholesale depletion 10 which many of
our Railway Companies have been subjected the
enormous bond shaves, stock waterngs, not to men-
ton some instances of fragrant swindling which We
have had exposed in the dssecng process Of the panic
have been sufficient 10 inspire the most nnmtgated
disgust Discrimination which should be exercised in
fair investigation of Railway property, seems out of
the question. While the current of feeling is thus
strong and the good, bad and indifferent suffer alike
in public estimation, until reform has done its work
thoroughly, and We commence 10 build mp the
fabric of confidence anew on good foundation,
There was but one regular session of the Board to-day
and the business not large at this but the feeling
was that of greater frmness throughout the session,
and moderate Improvement was established for the
leading shares The dealings in New-York Central
were mostly at 79i, an advance of closing quo
tations of Friday. Reading and Rock Island were
next in point Of activity and both quoted fac
ton better at the close. There good demand
for Erie but the trade did not exceed the average of
recent daily transactions At the informal gathering
in the afternoon the market became still stronger and
the shorts became free buyers of New-York Central
which went up TO 80. Nearly all the prominent stocks
improved slightly over figures current at the mornings
Board and at the close there a firm, steady feel
ing. but nothing which indicated buoyancy. The
sales comprised about 500 New-York Central,
500 Reading and $50 Erie. The closing prices were.
Missouri Is. AiS!; Virginia Is, s2.; Canton Co.,
10, se0; Cumberland Coal Co., Isl al; New York
Central Railroad, 7eiaSo; Erie Railroad ls!eI;
Harlem Railroad, l0I l. Hudson River Railroad, |
2sIal; Reading Railroad 4eiai; Michigan Central !
Railroad, 5sIdl Michigan Southern and Northern |
Railroad, "a, al; do do Preferred, 46!a,; Panama |
Railroad. ll3iai; Illinois Central Railroed, 75ia,; |
Galena and Chicago Railroad, SAL; Cleveland and |
Toledo Railroad, "a; s35i Chicago and Rock Island
Railroad, 72,Sl Illinois Central Y cent Bonds,
1875, 90i col.
The market for foreign exchanges closes inactive
,ut firm. The business for the steamer has been
cht, Outside bills very scarce, but banker, are
Wiling I, draw freely at 81 y cent for Sterling.
Frechts are quiet To Liverpool 2:s2 bales Cotton
. 2 o., Io,dop 30 turs Cu,ts perrba af II.
d. To Brem,u, 80 tuns Cedar at los. A brig to
spinwaIl with Coal, on private terms. A bark of
70 ,uns to BueDos Ayss, with Boards, a: lis A
rg home fr,m Turns leland, with Salt, On private
yIs.