New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-05-09

cause Int when journals go out Of their way DOT ON!
10 attack them but at the same time take "cc"7'on
On indulge in ungenerous and unfair comments
pnon the mode of doing business at the o'"ck
F1chsrce we may be excused, perhaps tor saying
a few words ON the other side, for, Ike everything
,lse this question has two sides. We mold " 20 DC
An rdispu.able fact that railways-t1rough ex'ra'a
rnrce swinGlng, Encouragement and the 9 hera
nro.trstion Of business, have become unpopular a.
Investments The bears of the Stock Exon ange GER
tsiuy have not done this. IL does not require h'oH
ARGUMENT 10 convince unprejndicef man tnat the
r1srl.s n such enterprises as the Erie, Michigan
S,utherr La Crosse &c, tend 70 unsettie commence
in railway property II ia not surprising that severe
,o.s.. b.rkruu.cy nom yrnent of interest and div
blends create a widespread feeling of d1stTu-t DO"
,h., sp;ciJal competition ard diminished profits
,bouId encourage and sustain il. To such eanses
slould be attributed the unpopuarity of railway
stocks AID the decline IN market Vsiues'
ro,,er than TO the operations Of the bears,
wbo are but the instruments or channels
ti,roupb which this sentiment finds expression.
II stock ejaculation exits at all, we hold 1t to be
cutie a. necessary for the public good that there
shoud he Two parties in the game, as In politics. Inc
Lesrs represent the conservative portion Of the co
nr,;tv norton of the community, and the bulls the
,arguiDe-either side having undisputei sway the
couseauences would be highly mischevous. But for
the bears or despondent classes, who are constantly
ferretiny ont and exposing the weak points IN the
stocks dealt ip we should have system of imitation
and successful humbug beyond description, ana but
for the bulls or hopeful classes, we should witness
d. pression quite injurious. The natural disposition
Of the great public is to go with the bulls ana hence
all things being equal such operators have generally
more power and influence. The facts III favor OF one
party or the other finally settle matters at issue be-
tween them. Coming down to the present cOnii-
ton of things, may see, without organs OF
microscopic pc that there must be strong causes
Of prejudice 10 enable operators for decline to be
successful with money drug in the market" and
absolutely stagnating for want of profitable invest
Inent. We have already mentioned these causes,
and claim that they sufficient to account for the
depression in our railway interest. The bears are
prone to indulge in excessive operations we admit,
and so are the bulls, und there is no more sense or
proprety in loading up with thousands Of shares for
mere speculation, than in selling the same quantity
short 10th may be characterized as dangerous and
excessive specuations. The bears frequently over
shoot the mark, and temporarily cause unwananted
depresson but the bulls quite often initiate prices
and entail severe losses upon outsiders who are
tempted to relieve them Of loads, for which
they have created fictitious values. As to
the hue and cry about the exclusveness and
secrecy Of the Board it is only necessary to say that
whoever desires to visit the Stock Exchange during
its sessions ss only TO apply TO any Of the members
to obtain admission. II has always been our opinion
that greater publicity should be given To these
business sessions aud, under proper restrictions, we
have no doubt this intelligent reformation will be
carried; but the idea that any special secrecy Is
enforced il simply erroneous and ridiculous, as the
daily reports OF business done testify satisfactorily.
In due time, reilway stocks passing through the
ordeal Of trouble and disaster will be wnnOwed out,
classified, and take their proper rank as investments.
The bears cannot prevent it; the bulls cannot hasten
it to n premature development. We shall witness
revival in the value of Railway property with unquaI-
fed qualification, and We look forward to il matter
Of certainty; but, meantime, much that is considered
good ard promising may turn out to be the reverse,
and much that is supposed to he comparatively
worthless may become valuable aud productive. The
verdict Of the public will finally settle the matter,
and at the proper time.
The following is from late number oflhe Bankers
Magazine, which contains the recent annual returns
of the Clearing Houses Of Newiork Boston, Phila-
delphia and London. The directors of the Clearing
House at Boston have published animal report for
the met year o their operations the assOciallon EN-
bracing IS banks, that of New-York 40 banks, and
Philadelphia ~ banks. The clearngs are shown By
these several statements TO be annually:
In London, Il soo.clOc1e, or coo
In S.~.YoTk 1858 NEUTRALITY-SUSPICIOUS.. 475o,cjONt0
In ioston, l-i-S IZo<VJeo
In Philadelphia, ISs'-g ,.............'.. 6fo,VNvv
In relation to American Stocks, Messrs. Barring,
Bros. g. Co. remark:
American stocks remain before, generally neglected Uni
ted States g. bonds " 1865 3 do 5 offered 94 Maachu
sits Sterling offered At io2 Maryland Sterling soG9; Penn.
syyaua Inscriptions 8 d3-B0nds, aiG66 small amount Of
South Carolina Sterling Sc Pamer loan, has been - At &c;
Tennessee 81 Virginia Ga 81; New Orleans Co
dsted Bonds So Canada es. l4Qll5 Nova Scotia and Now
BrunsWict III Central Railroad Bonds offered
S!; NewYork Central T. 1885 N-York and Ere Bonds,
third 6id66 Inno. Central 77d7s Michigan Cen
trail 1892 s5ds7 Illinois Railroad neglected 80 dis
count
Satterthwate says:
The market for American securities remains exceedingly mani
mse there !. scarcely Sufficient business produce any al
ticu in quotations hcwf ok har aud kwfork and Erie
bonds are lower on the renewal Of competition.
ADVERTISEMENT
THOMPSON BROTHERS, No. = Wall ST., offer for
sale al times UNITED STATES and STATE SToc&s fol in
yestYncr, o Barkirs purposes, o