Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1859-07-26

The E9.es q he Asnssssse - ~ Cs0.
asselal aal Flassciai oevsossasts New
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1.-THE shock Of . moderate size earth.
quake had shaken the city, or ciap Of
thunder, on clear bright day, had de-
scended into Wall street. or into the
hannts Of Change, It could not have
created greater surprise than did the
announcementofth the armistice between
Austria and France yesterday. All
were expecting to hear of another great
battle, or At most Of progressive sigma
and of further triumphs on the part Of
the Allies and the bulls" and
/" bears" in stocks, in cotton and in pro-
duce generally, went to bed tho night
before with calculations Of gains and
Losses based upon the continuances and
contingencies Of the war. Imagine
their surprise on reading next morning
in the Herald, in large capitals, I'm
portant from Europe-Armistice con-
cluded between France and Austria"
What . surprise! The proposal, too.
for the measure, to emanate from the
victorious Emperor What was to be
be Its effect That would be told be-
fore rundown. The result was that
cotton advanced one quarter cent per
pound, with sales of 8, 900 bales. While
it thus gladdened the hearts of the
." bulls" in that article, it sent dismay
and panic among the /" BEARS" - we'll
a. the receivers and dealers in -four
and grain. 1t sent down flour from 5
TO rs cents per bbI., while wheat and
corn we're also made cheaper by it,
Pork also was heavy, and in the course
- the day, if Madame Rumor was to
be believed, two or three breadstuffs
houses we're forced to suspend, and
also one provision house, though prob.
ably for not very large amounts, as the
flour houses, it was stated, had been
brought into difficulty by over-advances
the articles having declined consider
ably before the amount advanced on
its shipment from the interior. Prices
have now 90 far receded that it is be-
lieved that they will fall within the
limits of foreign current rates, and lead
to some purchases of grain aud flour
for export. The imprndence Of hold
ing breadstuffs for several months so
far above foreign markets as not only
to cut off exports, but actually to ~
duce some shipments of grain from
France to this market, may now be
seen. Though not, perhaps, connect
ed directly with the armistice, yet SUI
gars we're also active and firmer.
The only field in which people were
disappointed at the effects of the news
was on the Stock Exchange; while
rents went up in Paris 2 per cent, con-
sols in London l IL per cent and
Austrian securities in different cspi>
tails Of Europe from Z l-2 to 10 per
cent, securities at the Stock Brokers
Board in New York, by the superior
skill, undaunted courage and hammer
ing Of our indomitable bears" went
down. Outside buyers we're few, and
the street BULLS" having had the
worst OF the fight for some time, could
not be raised up to a successful strug-
gle even by the armistice, and the
bears" in spite of its prestige every
where else, remained for the day mas
tiers of the field. The end is not yet.
The opinions expressed regarding the
causes which led to the armistice, as
we'll as to its probable result, were al
most as varied as The merchants who
discussed the subject. While some
contended that home influences, with
increasing European diplomatic cons
pIications, with ;the ugly position Pa
pal affairs had assumed, induced Louis
Napoleon to consent to q suspension
OF hostilities, others contended that
he only agreed to it in order to gain
time for the purpose Of reinvigorating
his army and maturing his plans for
the future prosecution of the war;
Some, probably prompted by their
wishes, prophesied a speedy peace !;
while others, influenced probably by
their interest, saw in this new aud
sudden phase Of affairs the prelude to
general war in Europe which no
negotiation. could avert. Such was
the stir and excitement growing out
Of this unexpected armistice that some
days must elapse, and probably adds
tional intelligence be received, before
commercial and financial affairs can
settle down and accommodate them>
selves to the suddenness of the change.
Next to a sudden war, commercial
men say that a sudden peace proves
the most mischievous.
Jim H., out west, tells a good story
about "shell-bark lawyer" His
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