The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-05-13
FINANCIAL AND COMMERCIAL
THURSDAY. Nav 12-6 p A

| THURSDAY, nay lZ-6 +. NJ.
There to day feeling in financial and com
mcrcai circles generally. The absurd.y of our State
securities declining because the European Powers are going
to war appears to he penetrating peoples minds
though there is yet but little demand for the stocks
which panic has unduly depressed the of con-
vesaon among capitalists and bankers indicates that us
the first shock of and the people see
that is not going TO overturn American commerce. the
tendency of the market will be toward recovery.
Meanwhile, the public mind in Wall street occu-
pied to-day with the default of three members of
the Stock Exchange. Among these the old house
Jacob Little Co., which has for some time been strug
Cling to maintain the price of Slate stocks and
few high priced securities, against the efforts
of the bears and the unfavorable influences Of
European afairs Very general sympathy is expressed
for Mr. Little whose personal popularity has always been
great 1t is understood that he settles all contracts which
mature day ct tie prices of the morning board other
contracts will be settled hereafter Mr. Little has always
behaved with unfoi Kindness and forberancs to his
fellow members when in trouble, aud presume that he
will be enabled shortly to his seat at the board
The other defaults which are mentioned not conspi-
cuous, and involve no serious injury
On the Of Mr. Littles suspension at the
opening Of the board to-day heavy decline took place in
three four stocks Of which he has been prominent
buyer-Mssouri s,xes Illinois bonds, Harlem preferred
and Parama stock. Mssouris fell as low as 80, but
recovered during the session to s2I1. They were
severely hammered by the bears, who resisted the
recovery with great pertinacy but the heavy fall which
has taken place. nearly ten per cent since the last nte
rest paid induced several jobbers 10 take few on
speculation. The price in the afternoon 81. Illinois
bonds fell to &c. and closed in the afteroon at 80X a.
The stock WIS done at 55 The decline Illinois Central
securities is predcated upon the decline In the British
market. AS that decline was caused by panic, sud
den and large rebound would seem not improbable.
Panamn fell off to ll3, but recovered in the afternoon
closing at 1I7s bid The decline had been equal to 10
per cent within ten days. The causes werc first the
fact that the government has awarded the mail contract
California parties who have steamers, and who will
have to contend not only against the existing lines via
Panama. but likewise against the Yeverton Nicaragua
Company, whose charter the admiuistr alton has pro-
muse" enforce secondly the superstition that Mr. tte
owns Or has contracts to receive, several thousand
shares of stock which will come on tho market; and
thirdly the prospect that war may endanger the safety
OF the Transit With regard to the first cause we under
stand that the successful bidders for the mail contract
not ayerse TO selling 1t at modest profit settlement
beween Commodore Vanderbilt and the Nall Company Is
TALKED Of under which the latter to purchase sps
Commodores steamboat property on the Pc.o,nc and
new Company, of which Messrs. Vanderbilt, Aspinwal,
and Others ere TO be the leaders, 10 In conjunction
with mem on the Atlantic. Such line would probably
obtain the mail contract, very few capitalists would
care to risk their in running opposition to theu
few days will now decide whether any such arrange
rnent can be made or NOT If be Effected, Panama will
be coed property at present prices.
| New York Central opened this morning at decline
| Of * from yesterdays price, Before the .close Of
the session advanced per cent, and closed in the
afternoon at 7o,S bid-an advance of e since Yesterday
We announced yesterday that the freight agents of the
four roads had informally agreed 70 take freight
below paying prices To-day the Presidents Of the South
err roads are in town. and in conference with the Erie
and Central, It is presumed that they will settle their
disputes and without renewing the st. Nicholas compact,
will agree upon tor for reights and passengers which
win enable all to money. Is understood that the
President Of the Erie has at length been overborne and
agrees foreeo the pleasure of nurg his rivals in
der to the interest his first mortgage bonds
The letters from the West that the warke in
tellgence from Europe has already created activity
throughout the Western country, and that quantities
corn, wheat aud -four whose existence hardly gus
pec' are ksipg J. Gyi! o by hs ADVANCE liz pst.2.