The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-31

The stock market closed yesterday with better feeling
than II opened on Monday. About month has elapsed
since the upward movement which commenced carly in
September checked since then most Of the Western
stocks have declined Central has been dull and In
active The reaction-which was natural under any cir
cumsances after the active advance of Septemberwas
assisted by renewed exports Of treasure advance
the value Of money and loudly expressed doubts TO the
per nanence of tho increase in traffic the prn-
cipal roads, Within the past few days most
of these adverse circumstances have ceased to ope-
rate. The shipments of gold have fallen off, money
has become easier than ever and the increase the
Western roads keeps up Hence renewal Of speculation
in the leading speculative stocks The commission bro
kcrs state that the public is not nterestei in the
ment which, they say confined to the street and board
obbers Be this as it may, the improvement in the Ga
lena and Rock Island and or two other stocks looks
pretty healthy and promises well.
good deal Of conversation has grown out OF some
snoring remarks with regard to American securities in
the London Times We took to remark, the other
day. that while railroad securities in this country rule
are very uncertain property to hold, John Bull has not
shown much judgment In selecting his tavortes He has,
in word gone in for the cheap and nasty and he has
got t. He has bought stocks which promised to yield
him exorbitant return his Investments and in many
cases. as he ought have expected he has lost principal
and interest Europeans who invest money in this
country must not think that, because this the United
States and not Europe people here hnve idea Of the
value OF money the merit Of safe investment Ex
perencc will teach them--and they may as well take our
word for IL at oncethat good first class investments
need to 60 begging in Wall street. there is plenty
Of money here seeking employment, and plenty Of CAPT
talsts eager to place their funds. When, therefore,
foreigners find stock selling here far below par they
should at once conclude that there is something wrong
about it, and should have nothing 10 do with IL any
terms. They should, in word, display in the selection
of their American investments the prudence and
shrewdness as requisite for tho selection OF invest
ments in Europe. If they pursue this plan they will
have no sound cause for complaint.
recent occurrence illustrates the singular want OF
common sense sometimes evnced by European in
vestors Some Wall street sharpers lately organized
railway company for the pretended purpose
Of building railroad through Texas. BY some in
genuity, they obtained introductons to leading
nanc,ers Germany and proceeded to that country TO
dispose Of million Of bonds which, they stated had
been especially reserved for their German friends
These bonds secured bya first mortgage on the line
Of road and quantity Of land they were further So
cured by sinking fund; they were convertible the in
,eest them was ten per cent per annum payable SENT
annually; yet the company was only too happy TO sell
them to the public at seventy Eve cents the dollar
Need wo add that, as soon as the whole issue was dis