New-York daily tribune., 1858-02-22


.cr- q IL c'se- are oc > commencing oPop Se" es
Of .!ort ,;cch VI ,ses .: lie op:or ci me sehefi
bl; 1cse "a ecr rremaiure mcR~,etts baVe 10 p''
" pbts: e6ec. upor lie ms'ke;, Hh.ch ai'ef a" - -
> .,sLl passs becomes mcfc rampant sA eA1-V"
before, carrying al oTpsston before i az
Up ,.oeks with apparently insai'ate s'0u'ech -
o. any magnitude. Tie outside force oi ol$i' '~'''
aUgmeptiDg dsi.y, is COW more powenG! han q"
tine since he recovery oi prroes ccmmthceo' an
tde Of stock speculation has acquired sIe"e
volune enough 70 cany ,fe Sock E1cha'ee '''re
H.. caneDt, even against the WI oi lts H'
Speculative NOV yernens outside Of The BoaId, VI ia''I
ou;side Of the circle Of those who follow tie 'c' oi
Dese exclusively, ere always Tor re re, -nd wien
fully developed are almost uncomfortable on 81 ea7y
money market. The t!st operations ere 10 the roD'o
dividend paying securities, parity permanent ih'es'-
men, and patty for temporary employment u
capital in channels which promise prcduciNehess I'D
enhanced market vaue, vel as in dlyidends; hehI
70 sympathy follow movements in The faDcies, "Icn
more easily stimulated-run up with elastic steps
and grow more tempting as they plove profitable. AZ
this point inrnsic merits cease 20 be eonsldeTed-lhe
quee,ion only is whether successful ,pecuston y
practicable in this that stock or among the guera
forces the only thing desirable 10 know, is whether
movement in eny stock is in embryo oi ID progress
and # the quest,ons favorable N ether ca-e, me
rush commences ard carries every thing before is I'M
pe.utsi,y aDd strength In tnIs posioon stands lhe
New-yoYk Stock market now, feverish and excitaDe
il the behee; degree but almost entirely Al direction
toward advance ~ other wOrds, buoyaney and con-
fdence are the prominent characteristics oi tBe
market-snd croskiDg avals nothing against these
AroDc elements Of speculative excitement.
Transactions at the First Board were large. Cuni-
beIsnd led of on the fancy LIST q. ma'eral dechhe,
touching s before the call closed ard c'ntnbutng 70
some extent TO the sight depression IN other stocks
which followed in regular order. The movements III
thie stock appear 10 be somewhat mysterious, some
alleging that come Of the clique have proved treache'
rous and quietly parted with theI stock, while others
look upon the whole thing a. part o! the plan oil 'he
campaign. Canton was active and trm at an advance
Of T. cent over previous quotations. Ihs Com
pany have 0btaired legislative action empowering
them 10 sell their property and receive paynent 10
stock and to use their unds il the purchase OF their
stock Under this authority, they have already pur
chased 900 shares, and other parties are buying
for the purpose of making payments TO the Com
psny for the land. purchased. New-York Cen
tral was dull and fraction lower, attracting less
a,entionthan usual. The books Of this Company re-
brokers il anticipated the Transactions for the open
ing have been very heavy. Ere was the strongest
ard most elastic stock Oh the list running up to 2 at
TIE close, with quick demand. Reading was active,
but not firmly sustained, the result OF operations
on the call being decline of from opening
sales Michigan Southern declined y cent, but was
steady at the close. Hudson River fell off ] & cent,
as compared with Fridays quotation, but was IN
better request in the last transactions. Toedo was
firmly maintained. 6alena and Rock leland were
both lower-the former selling down to 93l on small
LOT, and the latter declining TO 49,, though in demand
az the close. Panama was heavy for the monent-a
leading operator selling 600 shares 80 st lO3 in
single lot. Milwaukee and Mississippi opened az 81,
but improved and was IN request afterward at %St.
After the adjournment there was ralying movement
in the street and the whole tone of the market
changed, and at the Second Board there were lively
movements upward again. Erie jumped up to 3it on
moderate sales and at.erward done in the street
az high ASST. New-york Central advanced !. Hudson
River recovered fully from the mornings decline, and
there slght improvement also in Michigan South
erp Rock Island, Toledo and Panama. The rally was
effected with bu, slight effort. For Bonds the market
was steady the largest transactions were in Missouri
o. We notice sales OF Hannibal and 81. Joseph Rail
road Bonds al CO. and of the Reading new loan al II
For Michigan Central loan 99 bid, 100 asked.
Milwaukee and Mississippi I'd Mortgage sold a. -,
which is III Improvement OF 2! r cent La Crosse
LanC Grant = cents sold at "a in the morning but al
the Second Board were in fair demand at ! = cent ad
vance. Ailer the Second Board the marke. was still
higher, and closed strong at the following quotations:
y. Y. Ceairal, s6I; Erie, 3i5i Rock Island 80; Ga
lena. 9i; Toledo, IA; Michigan Southern, 2o4i Cum
berand 10; Reading, 81 !, &c.
Iva brin INN tom nj
gence. The Bank Of England has reduced its mini
mum to 3. y cent, and continues 10 be above the
rates IN the open Money market. The weekly return
OF the Bank ebc-vs further increase OF E39i,972 in
coin and the Golfers likely TO be filled overflow
ing by steady arrivals OF the precious metals from Aus
tralia s. 100 600 DUE the United States and the
West Indies. The applications Tor discount at the
Bank continue light, and in the open market the rates
are - 10 d & cent, which quotations the supply is
very abundant. Consols had advanced, and Were
quoted at 96}. No better evidence OF the abundance
OF Money in England can be furnished than is con-
tanned in the significant paragraph which announces
that subscriptions were invited ior 81, 600 y
cent debentures Of the Grand Trunk Railway OF
Canada which were all taken up in one day at -.
The swallowing up Of six-million-solsr sub
scriptor in single day il something TO talk about,
after such severe depression have witnessed in
Railway bonds Whoever enters into the calcula.iOn
of cost resources Sc, of the Grand Trunk Railway,
embracing its gigantic programme the construction OF
an iron tubular bridge the ST. Lawrence at an
enormous expense viii no. hesitate TO believe that the
Erie. Illinois Central Michigan Southern and other
roads will be entirely successful in placing their new
loans Cotton is fI1n-Bresdstuffs dull. The Bank OF
Prussia mad reduced its rate TO y cent. Tie London
Tine, has very stupid paragraph in regard 70 the
ahnndnnce Of money In which il argue tha, there is