The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-08-03


precisely such phase as it saw in May. in Janua-
ry, in October and in August last. The interval
of repose which the brokers have enjoyed since
the last upward movement sculininated appears to
have exhausted the patience Of spectators, and
they are once more tempting fortune. They have
in their favor the money market, which renders it
easy to carry stocks, and the horizon Of which
now ms free from the least cloud; the earnings
Of the roads, which increase steadily and enable
every line Of any pretensions to pay dividends;
and last, but not least, the general awakening
throughout the country Of the speculative spirit,
which leads every one, in the country as in the
city, rich Gnd poor. young and old, women as well
as men, professional men and clerks as well a.
merchants and brokers, to try their luck in the
stock market, in the hope OF doing well as their
neighbors and realizing fortune In few days.
Never since stock exchange was 6rst established
in New York has there been 30 much gambling
and profitable gambling, in stocks, as within the
past year. Half . dozen men are pointed out in
William street and Exchange place who have real
lied q. million apiece, several scores who have
made over hundred thousand, and hundreds who
have Melted from t26 600 TO $50 900. Brokers' who
used TO set down their business % worth $40 900
year are now making that every quarter Opera.
tors who thought $40 900 . good years work now
complain II they don't make a. piuch every
month Broken down MERCHANTS, idlers gamblers,
oil come into Wall street, and for year past
many Of them have coined money almost a. fast q
they could count IL. To al this wild speculation
which was precisely paralleled in Paris in the
years 1861, 1852. 1859 and 1854, when the present
great banking houses Of the French capital made
their money, and the Credit Mobilier made for
tunes for SO many Thousands Of adventurers--
there must come tragic ending, In which more
than ti,ree-fourths Of the wealth so easily won in
these times will take wings % itself and disap-
pear. But while the mania RACES all but the old
Wall street stagcrs, who stand aghast at state Of
things unparalleled in their experience, are ac-
lively engaged in the scramble.
The New York roads have been the chief favor
ties on the Stock Exchange during the past week.
Harlem rose TO l26, seemingly on the short inter-
est. Commodore Vanderbilt 10 making various ar
rangenents which are believed to promise well for
the stock; but thus far word, or even the least
prospect, OF . dividend has been mentioned
in any quarter. Hudson River has remained
pretty stationary between l4s and ls2.
Central has risen TO l2sL ex dividend, equal
TO 1872. II 10 stated on fair authority that the
company have over %, 900 900 surplus. Under
these circumstances stockholders are naturally
anxious 10 know what il going TO become Of this
large sum u money; and ~ the recent orders to
buy have come from Albany the theory Of the
street Ia that an extra dividend 10 In contempla-
ton. The managers preserve the most discreet
silence on the subject five per cent extra dvi.
dend would seem to be due 10 stockholders. II Il
10 not paid the next election viii probably wit
ness vigorous effort 10 unsestt the Coming dynas-
ty Erie has risen considerably during the week,
and IL in active request II 10. however, still the
lowest regular per cent dividend paying stock
the hist, and far the lowest priced Of the stocks
representing leading railways running out Of New
York. The following table Of roads terminatin q
m the city In Curious