New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-04-18
SATURDAY, March l6-P. NJ.

The fsir promise of the Stock Market on Friday
afternoon was not borne out in the operations OF To-Day
and the tide of speculation seems to have turned sgah
very suddenly The feature Of the day was the rather
une cted break down in New York Central, when,
from al yesterday afternoon, was sold down to 'ot
decline of ii y cent. This was mainly occasoned by
the appearance upon the market OF several large lots
Of stock evidently coming from sources ofiuppy out
side Of the speculative ring, movement which Sc
rousy ipterered with the designs of the bull operat
ors who were t1irg with some prospects OF succes,
to make scarcity Of stock The resut Of this decline
WAS a sympatbetc movement in the same direction in
a majority Of the leading stocks, and the
market, from q position of apparent strength,
changed to heaviness and comparative weak
ness This relapse in the market though I'M
expected, confirms the accuracy of our previous ex-
plantations of the advance in Railway shares, and ilus-
trates practically the instability of an improve nent
which has nothing bu. the oversaes OF the bears TO
sustain it, The arguments put forth with great deal
of earnestness and pausibiiy in favor OF rise IN
Railway stocss on the promise OF goqd crop, may
have some force when this promise is near its fulfill
ment, but is rather too distant and uncertain 70 DC
discounted Just yet Public confidence in railway
stocks is not strong enough to admit of much spec Ma
tive movement upon mere prospects, Fhica may be
wheat is harvested in July bat the great cereal crop
not until Autumn and this is scarcely Ia tue ground
vet Thus far admitting excellent promise, there is
stil great upcer ainty, and it requires more fath
in Railways than is now displayed to induce pur-
chases which, in order to reach decisive points, must
run the gauntlet" Of four TO ak months business de-
preston and decrease in traffic. In the eccentcy OF
specu alton on cheap and surfeited morey market,
such thing may take place; people msy get over
their preudioes and rush into Railway stocks on the
mere chances Of speculation, heaiway beng 6f't es
tablshed and we'll suppoIted bot it is net naturally
| 70 be anticipated The bu.iLess in Nes-Iork Central
al the first Board was to The extent of 1857 shaes
and at the second ? l50-makg an aggregate of ovsr
500 shsres in egftered transactions. The compet
ton for business nov going on between the Northern
and Southern routes TO tae West, has tendency to
unsettle confidence in the ability of the cortendipg
| Ines TO cam dividends at such reduced tariff,
| and 10 this must b, attributed the feyerish
| movements in New York Central, which
from its CREST business resources and uninterrupted
dividends, has hitherto occupied commanding posi-
| ton amorg our railway investments. Harlem Pre-
f,red declined to II l. but steady a. the qlotstOn
during the day. The signature Of the Governor to the
important bill just passed in favor of the Company is
at th.oficiay announced. Rssdirsis one OF the
frmest stooks Of the Gay, and sivanced to di, In
registered transactions, but was finally done alter the
Board as high as 81. Pacific Mail opened at IS, but
sold down 90 81, on the call and closed 10 the after
noon at 81! There is fresh g,ssp in the street in
regSd to the Company ard Commodore Vanderbilt,
but so for as appearances indicate the fact the
breach between the parties has not been dimin-
'ished in width, and the prospects of sharp
J competition seem likely Is heretofore. 10
! tie Western shares the movements were rot very
active, srd this part Of the list was about as well
maintained as sIy. Gale Is ard Rock Island both de-
oned fraction but toler ,by steady at the close.
Toedo opened al 26 bu. declined TO POI a. the Second
Board. Michigan Central sod at 5Si 10 esy trsnssc
tons hut wss rather hesyy st the close OF the csl
and in the afternoon done 81 50 b60. Tee supply
Of stock which fer few Days was quite scAnty
has become more free ard the shorts have msde
their deliveries with less difficulty. Michigan South
err guaranteed soli a, 80 in the morning, but
was lesvy and at TIE Second Board deolasd to
SeS The common sto,k was $50 8 fraction ioser'
The most important Bond operations Of the Day were
in United States IS Of 1871, whi,a sold 10 the amount
Of sls2 at IO44 fer oss end time many OF them
were taken for Banking purposes. In Sts'e Socks the
dealings were moderate hut prices were steady. AT
The Second Board S0CO0 Of Iloois lttertst Bonds oil
1850 sold at 90 ara Lear Of large private sales a.
the same p,ice. In Rsilssy Bonds the baane'' vas
limited. but prices were generally steady. Taers Is
rather inquiry for Of the loSprioed de1rp
tone La Crosse Lstd Grants were 10 denard a. l. l.
and Fond du Lacs adySoeeil Atsr the Second
Board prices underwent 90 msersl charge but IL the
last tran, actions the market was il anything shade
finer The closing prices were; For Government 5',
1911 elO4f; Tennessee 6e 93i e95ii Missouri U.s. ssi