The New York herald., 1863-08-24

Inc STOCK Excnange mas SHOWN violent huctu-
ations during the week. with more business than
the week preceding. Harlem has risen from 1917
last week to ia, then fell back to 1877 from which
it rose to lit yesterday afternoon, at which price
it was in active demand. The movements Of the
stock are erratic ever, and fortunes continue
to be made and lost in it with the same celerity
that has been seen since 1t was brought into con-
tact with the City Hall. Erie has been carried
vigorously upward during the last few days,
reaching 1913, from which it receded somewhat,
under realization. The talk on the street is that
new party is taking hold Of it, after the older spe
cuIators in It had realized very handsomely ON
their holdings In stock 80 large Erie every
rise will bring out stock to realize, that pure
ly speculative bull movement is much harder to
carry out than in stock like Hudson or South
ern guaranteed. Hudson seems to have dropped
out of the ranks, the recorded sales being triing,
and at steady prices. and the most widely varying
estimates are given of the amount still resting
with the party that made the stock famous. South
ern guaranteed took sudden upward turn-from
ll9 up to lao, from which it receded to 1873. This
stock is 80 small that these several single opera
tors could shoulder the whole of it, and con.
sequcnty in times like these, if any considerable
bear movement in it avoided severe punish
ment it could only be by complete hid
ing of its character-a thing next to i'm
possible. Certainly the times do not favor the
bears. An influx of speculative business means
rise in stocks for the simple that outsiders
understand nothing but buying; and with many OF
them it takes almost surgical operation to lodge
in their heads an idea of what selling short is.
Then the railroads are all doing good business
so much SO that the English, who thought our rail-
road securities doomed when the war broke out,
have awakened to the fact that they are better
purchase at present prices than at the lower
figures Of past years. Roads that were embar.
rassed beyond apparent hope have quietly found
friends to reorganize them and traffic to make
them pay on their newly adjusted liabilities.
Dividends spring up and leave surplus behind
them where men had ceased to look for anything.
Money is plentiful the rate Of return for invest
ment s lower, and in the opinion Of many shrcwd
capitalists, likely to be fixed lower for all time.
Where, then. is the encouragement to sell? The
crash 30 confidently looked for may never come, OF
be changed into so slow movement, looking at
things on the large SCALE as to hurt Ifit be
true that we are in reality passing gradually from
the high interest Of y new country to the lower
rates that enable men to live in elder countries.
down; and certainly this point is too important 70
be overlooked in making up an estimate Of the i'm
mediate future.
The trade tables, published this morning, show .
falling OFT of 81 200 900 in the imports for consump
ton, and an increase Of 81 500 900 in the imports
entered for warehousng dimnution of 81 $50 900
in free goods imported, and Of $50 900 in specie
all as compared with July, 1862. The specie i'm
ported was but 1882 900 for the month, so tho
roughly have the privateers diverted the current
of California gold to England. The cash duties for
the month were nearly five mons-s falling Oh
of two millions and quarter from same month Of
last year. The export account still continues high.
domestic produce figuring for SIS ,29s 900, against
tre over sl4 900 900 last year, while the direct
shipments Of bullion have fallen from eight mil
lions in July, 1862, to five and quarter this past
month.
The imports bear fair proportion to the eA-
ports. and the amount Of business must be con.
sidered healthy under existing circumstances.