The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-04-27

that however great the outside support 10 the market
may be at any time the larger portion Of the bust
Is ON account OF the brokers themselves
who are tho real professional spectators in stocks 80
much Is this the case that many Of the younger mem-
bers of the board purely speculative business for
which their membership, Of course, affords them fac-
ties in the way OF credit and saving Of commissions
which they would not otherwise enjoy.
Activity is the life Of the Stock Exchange and much
has been TO develop It's growth by the policy Of
the board during the last three years. Before that time
IL controlled by very narrow and exclusive views
embodying of the most cherished traits of old
fogysm 1t association which asserted its i'm
portsnce and srove to protect Its monopoly by black
bang nearly all who had the presumption to apply for
admission within the sacred portals guarding the cham
Der where sat the elect and all the graybeads Of that
august assemblage felt themselves not other men, but
high priests OF the great temple Of Mammon, and
frowned upon the outer world accordingly forgetting
their democratic origin when they gathered under
the friendly shelter Of tree In Wall street. and had
other roof to screen them from rain Here tho
New York Stock Exchange had its BIRTH and behold in
few years what change! 1t Is step from the stand
Of an al sco dealer TO paatial edfce Had the policy
of the Stock Exchange beon liberal in the nrst in
stance, the open board would in all probability
have been established but 1t tho only thing that
previous shost-sghtedness 1t led to and
the gradual removal Of prejudioes against admis
sons in Short to the adoption in sefderenoe Of free
trade instead Of protective policy. And the result is
that the dealings in stocks have largely increased and
that far larger number of have been enlisted In
the business Of brokers and spectators in consequence
Government securities gradually becoming prom
nent feature Of the daily transactions at tho board
well the street, and there is little doubt that in the
Of time they will absorb the larger share Of the
attention Of SPECTATORS for it will not be many years
before the shares Of the majority OF the railways now
actively dealt in will become IN Wall street
TO lose their interest in the eyes Of the speculative
munity. Mining and land stocks will also come more
into vogue and miscellaneous securities generally will
receive attention from the Stock Exchange than
they do Even in the Of bank and insurance
stocks large speculative business might be done if
speculation ran less upon few stocks like those
Of the principal railways From various sources
the business OF the Stock Exchange will receive ad
dtions and stock dies Of the market another
will take its place. The gold Of California and Colorado
and the silver Of Nevada will unite with the copper Of
the Lake Superior region to claim the attention OF in
vestors and spectators in the Now York stock market
and there will be work enough for all the boards regu
lar public and petroleum, and the old Stock Exchange
win find that it has lost nothing by laying aside its old
prcudces and extending the hand Of good fellowship TO
members
At the annual election Of officers Of tho open board
to-day, in addition to Mr.. T. B. Hard as President, Mr.
George Henrques elected First Vice President H. S.
Marion Second Vice President and VIM. NJ Parks 3sa-
surer
Now that State stocks somewhat actively dealt in
the following tabular statement Of the amount OF the
securities Of the several States outstanding, together
with the rate Of interest Oh the same cannot fail 10 be
OF interest 70 an important class Of readers:--