The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-10-11

neneurs vssy wealth best0ws where the losses may
some criminal yielding TO temptation that may cast
the cuprit into felon's cellS The marvel H. rather
cuniary and social and moral shipwreck among the
men the earning OF whose daily bread carries them
into such Q nery furnace OF excitement.
THE SAFEST OF BROKERS.
instances broker who has once been ruined by Inn
borrowing fresh capital 70 get another show is BY
child fears the fire. For the future he confines MINI
sell to his legitimate functions as an agent and
taxes care 10 DO business only with customers who
put up satisfactorily handsome margins.
GLOON AT THE STOCK EXCHANGE.
STOCK Exchanre at this PERIOD wasa noisy Redlam.
The floor was covered with operators, and every man
seemed to have commission or rather many Of
them 10 get of his mind. The transactions must nave
been tremendously heavy. The tone OF gloom and
anxiety appeared even more marked than yesterday.
The disaster was seen In its true co.0rs not rs mere
local loss, not as simply changing OF grcenbackS
nom one hand to another but as utter and IRE.
trievable sweeping away OF an immense amount Of
accumulated capital. TO replace IL our money
market must be drained for months and even years
to come and stocks must necessarily decline IN
sympathy with long continued activity and tight
ness OF money. This was universally felt, and out
1 %e a csy 70 se
made enormous gains, aud among them
there were faint CLEANS
OF the hour, however, was too much even Tor them.
They were like heirs at a runeral-elad at the pros
specJ for the feelings OF their fellow mOurners, to
preserve sort OF gloomy decorum.
UNIVERSAL INSECURITY
Besides, in seasons Of such general risk and In
security. no man feels sure that his luck
pssn s ae Or the sna' Sa
standing in the midst OF 80 many melancholy exam
pies OF the caprces Of destiny how can ne feel any
prosperity
BETTER TIMES.
AZ noon however. good and welcome news came
from tile burning city, AT last, II seemed as though
bounds could be set 10 the disaster; ana. tine worst
once known, o sentiment or confidence and
general reaction speedily gained ground. me
men who had been selling short on the falling
Ine next couple Of hours or SO, and Indeed all
ehrougn the afternoon, things IN general rapidly I'M
cep.lons upon the list. the cliques who had been
holding on IKE grim death sterny striving to ar.
them, became sensiby more cheerful. AT the vari.
ons brokers' offices the excitement was very great,
and me tape on which me quotations on were mo
THE REACTION. $3.50 8 81
Each once had Its little knot OF spectators, who
varied Tor hours watching the movements OF the
market without ceasing, and fearing each instant
gains or terribly aggravate their losses Messengers
hurried m and out on business bent every
IN strea% the anyetv sOd ex
element however, surpass descriptions 1t can
only &c darly appreciated BY those who personally
Money an day was extremely tight though
scarcely 30 much so as yesterday. quarter OF one
however common rate, and the street openly
dened the usury laws. One could not help calcu-
lating though, how very few days It would take at
such quotation for the speculator on margin to
be wiped out After all there " no advice so
sound IT men would only heed It, as
that OF the sbrewd old London banker-"Never
Dell what you havn't got; never buy what y0u cant
as S
are dazzlcd by scenes OF examples OF splendid for.
tunes reared up by bold and reckless violation Of
In a Wei MAJ ny.
poets TO be . winner. He runs the risk with his
ZEE saslspcsa y nelts{ n ne gym g2oG Hek eaa \
pretty and bear it like man. -~~
Towards five. O'Clock the market was again
Agtated, and prices IN some instances greatly re-
Cedcd. Northw est notably running back. The move.
ment, however, was altogether Irregular. The
port was current generally that the good prices an
hour or so previously had been created by the
ctques for the purpose OF securing chance to un-
load It Is probable that tomorrow Will again be
an exciting, and trOubOus day.
More failures are also rumOred as imminent