The New York herald., 1875-11-26
FINANCIAL and COMMERCIAL.
A Holiday on the Stock Exchange-The Bust
ness Outlook-The Proposition TO Reduce
the Rate Of Brokers Commissions.
WALL STREET,
TWru4nAv Nor ~ Ig-E

THURSDAY, Nov 25, 1875.
holiday is not always a ''holy day. - taken in its
dictionary significance of day Of rest from ordinary
labor" and it is questionable whether an outandout
condition Of nothing 10 do not to most peope unite
rksome as too much Of its opposite It win be con
ceded however, that there is positive relaxation In
getting rid, for day, Of the steady grind al ono
single employment and Of supplementing with some
other work that by contrast almost pleasure
But labor physics pain, and most people have to take
the medicine whether they like It not Perhaps the
millennium will develop some homeopathic treatment
less heroic and agreeable TO the Of toll when
too, the maximum Of bread can be gained at a minimum
ofperspiration.
close holiday in the street necessarily curails the
money article OF daily newspaper, and propose
day to make Stock Exchange and things a subject
OF discussion in lieu OF figures
Formerly the courtesy Of admission to the floor of
the board extended to the financial writer's of the
public journals, but the council Of forty have im-
proved" this privilege away, as they have improved
away the business OF the members So we must mount
to the visitors gallery to procure vew-a brds-cye
vew-(such as is alluded to in matrimonial advertise
ments), without the certainty that distance will
make IL enchanting
Writers this topic are fond OF describing the
scene as resembling "bull ring" .bear
garden" but as ninety out of a hundred
doubts may be expressed as to the truhuness OF the
picture Bears and bulls there in numbers and
q declining market brokers Will observe each other
that 'there is fine crop of young grizzlies sprnging
up" The expression is bucolic, the reference
garden may be correct after all In the financial zodiac
Mr.. Gould is at present Taurus princeps the longest
horned, sleekest coated and strongest framed bull of
the herd.
He lowers his head, makes charge at a stock and
tosses up prices in the air with all the ease that marks
his Andalusian brother In Spanish arena Be the
securities really secure, or be they light autumn
leaves, up they must fly at the flourish of his horns
But the bull in the cannot always keep on the
rampage 1t is good fun scattering the chuoS prod
ding the broken down horses but the matador stands
ready and the sharp steel reaches his
vitals
Does Mr.. Gould ever see the matador, we wonder,
standing half concealed with the red flag marked
''Ruinn in one hand and the sharp sword of panic"
IN the other?
But Taurus is gifted with the power of transmigra-
ton Tomorrow he may be Ursa Major; then stocks,
which he tossed up as bull, he will claw down a
bear and the speculator who has been trying follow
in his track will be suddenly turned upon and rended
When such power this controls the stock mar
ket-when black made TO appear white and white
black, when prices advanced or lowered without
rhyme or reason, Wnen the Whoe business is managed
under the influence of chicanery and frauds it any
wonder that spectators frightened Of the mar
ket and investors hold their securities with fear
and tremblngP
The real legitimate speculation OF former days which
was based upon judgment, foresight and knowledge
of values, longer exists. or what avail is IT, tho
knowledge that such and such institution, being
well managed its stock should go up, or, badly
aged that its price should 60 down. The unwary ope-
rator who should upon such impressions in these
days would find himself in a lamentabe plight indeed
Mr.. Gould comes in with his prop and his peas, and
our prudent we'll informed speculator cannot for the
life of him ''ten under which tumble the little joker
lies
The proposition is pending to lower the rate OF
missions to give investors farer chance and in
duce the quick, sharp turns that involve small loss
profit and reduce the magnitude of the risk The plan
is favoraby discussed and paper is in circulation
for signatures after which tho question will be for
may decided by the Stock Exchange. We arc assured
that the change will be welcome very large class of
operators especially those who deal in lots of 100 and
200 shares and the belief is freely expressed among
brokers that their business will show large increase
as soon as the law is thus amended. or
STOCK MARKET
yesterday IL Is unnecessary to recall anything but the
OPENING, HIGHEST, CLOSING PRICES,
which xUnra as foIlows.-