Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1872-05-22
THE PRESENT OUTLOOK.

As we have heretofore stated, the
winners in the late unprecedented rise
and excitement in stocks were those
who sold out. Those who lost were
too greedy to sell, but would be hold
ing yet II stocks were still up. The
fascination Of the thing was too great
for them, and they could SEQ nothing
but continued rise and consequent
gain, even after stocks were beyond
all reasonable figures, and it was ap-
parent that a recoil must set In very
soon. AS soon, however. as the break
came. hundreds Of these over-sanguine
ones Immediately assistedit by rushing
their stocks into tho market, thus be-
coming the real "bears." Most Of
the "lame ducks" are now disposed
of, the bottom has been touched, the
market Is eased, confidence Il return
Ing, and the present prospect indicates
a rise In stocks. We do not, however.
anticipate q heavy rise, but simply q
gratifying reaction from the undue de-
preston ruling the last four or five
days. Stocks generally will not 60 as
high this season as they have been, al
though certain leading, meritorlous
ones will, perhaps. We extract from
the San Francisco Alta Of yesterday
the following sensible remarks upon
the subject:
The break, which commenced with
realizing at high figures among the
largest operators, was accelerated as
Others followed the example until un-
covered marquis tutnbled prices with a
rush too great for many to got out. It
Is Il question who realized most by
starting earliest. The great strength
Of the market OIL the rise prevented the
multiplication OF short sales, and the
absence Of short operators leaves the
fall unchecked until all feel the evil
influence. Even those few who had
sold buyers option and purchased the
stock for delivery find the contract dis
honored and the stock unsaleable on
their hands. It Is a sort Of panic, the
counterpart Of the reckless buying,
and will come to an end the sooner for
It's violence. The really sound stocks
will recover their values aud go higher
than ever. as will many OF those
which, with good prospects, have fall
len lower than their merits justify. A
sporting Englishman stood on london
Bridge to test \ wager that no would
offer gold sovereigns all day Tonga ten
shlllings each without tindlnga buyer,
aud lie won his bet on the principle
that the low price asked created dis
trust. This distrust seems to have sue.
ceeded to the over-confldence OF three
weeks since, and the public earl Is more
inclined to damaging gossip than to
the most encouraging facts. The spec
ulation which IL past. however, Will
leave its benefits as well a. Its OWLS.
Tho latter consist mostly in the trans
fer OF coin from the losers to the witt
ners, the sum total remaining the same.
The former Is more lasting aud mate
rial. The spirit Of mining enterprise
has been reused from its previous letll-
aryy. Some hundred new companies
have been organized In this and ad-
joining States for the prosecution OF
mines. If of these, only ten to fifteen
shall turn out bullion producers q
great good will have been effected.
The turn Of the market now only de-
peuds upon the conviction when prices
are at the lowest. There are abun-
dance OF money and buyers only walt
ing for low rates to so In.