The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-04-06
FINANCIAL AND COMMERCIAL.


ho>DAY, April 6-SF. n
flour history be true, the national character Of this
country that Of constant vneilAon In times Of appa
rent prosperity bounds To the bright prospect
OF success while the change Of The current yield
up confidence 70 usmsnly depression II s but
few days since wben NE stock market all buoyancy
with The certain knowledge that corporate companies
were essentially improving, and, acting under new
mntraions gave fair promise Of yielding their stock
holders rcmunersiive compensation. we we're then In
state Of hallucinaten; every ofcai report had been
untrue, and, as q consequence, the directors have
been imposing the public, then h the present
gambling depression OF the market value of the
stocks perfectly consistent. but H. the other hand
We have any reason 70 believe In the recuperaive
powers Of the country, the future full Of promise
has been. In Judgment, the present current
prices Of stocks form just criterion Of their intrinsic
value and thus in the decline we have nothing more
than evidence that alarm has given 10 powerful spe
cula.ve party the ament Of their by furnishing
mem with the means Of depression There Is neverthc
less, natural consequence Of low prices, point
for rebound II not uncommon the contrary u ofen
happens, that capitalists who have been lenders Of
money become speculative owners At low prices for
rise and with the market thus cleared Of x burthen,
the sellers for fall find 70 their cost tina, they have only
changed the ownership Of the stocks from weak 10
strong hands II the experienced Of every operator that
extremes always begct extremes high prices produce
Sa and low ones certain reaction. n we examine the
bek list, have the daily evidence that but very few
stocks have been sacrificed that the low prices
quotations. which, al the Stock Board would necessarily
govern values, and would most undoubtedly have to be
yielded 10 should sales have to be made which no,
frequently occurs cresve Of serious oeses when
held hypothecaon have 70 be sold That there
win be turn for The better doubt The more
rapid the depression, the certain the recovery;
when, with the smiles Of prosperity, stimulus will
be exhibited in which the American character win again
present s weanesseasily elaied and easily depress
cd In rs unreasonable sncpaonsthat there be no
medium in the grade Of their bopcuness The signs are
that the week will not pass away without showing de-
oded improvement 10 The great disappointment Of those
who ought 10 have realized their profits their specula
tive operations for fall.
The movement In stocks this morning was towards low.
or prices and Al the first board decline Of some import
ance in all the leading speculative securities was realized
Missouri State &c fell Of Il per cent Canton Company NJ
Pennsyvania Coal Company, ~ Cumberland, az; New
York Central Railroad 2; Erie, l. Panama, Z; Hudson
River Rairoad ~ Reading, ~; Michigan Southern old,
/; 90. preferred Gslsna and Chicago, 4; Cleveland
All loic'o ! Milwaukee and Mississippi Y. In Crosse
land ernr, bonds advanced = per cent Pacific Steamship
Company, J. At the second board the market was alto.