New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-09-07

sTrOND nOARD-I:3O p.


II the Vienna correspondent Of The LONDON tcoRo-
mist had been describing the speculation on the New
York Stock Exchange instead of that on tAe vienna
Exchange he could not have done 10 better than ln
his letter dated Vienna August o. 1877. as ioi-
lows: The improvement of the tone OF
the Stock Exchange has continued during
this vecl, also. Still. rho haH'e finance and
the public do not vet purchase III 'he
least: on the contrary, they avail themselves OF
the high quotations TO sell business therefore
consists principally Of speculation wnlch might
turn out fatally were the fcvcrsh course again io-
lowed for which we had a precedent in 1878; oul
the enormous export Of corn from Austria Is saie
,, of returning life7 So it seems that i'm Austria
a. we'll as here, stock spectators are binding 'nei
homes Of q safe deliverance from reckless ventures
upon Large crops" It is strange, that IT never
has occurred to these gentlemen, that the move
rent of crop" depends fully as much upon
the demaud for consumption as 10 docs upon The ex-
tent of the production Long Island to-day IS FUR
nishnG on illustration of how an excessive crop NAV
prove 10 be q curse. rather than blessing, to the
producing section. So great has been the produc-
ton Of truck that had 10 been oue-haii less, the
farmer, would have realized n greater sum for IT,
with one-half the labor i'm gathering and bringing
20 market All this while furnishing cheap food for
the millions. dos not enable the farmers wives and
daughters 10 be exrayag CANT in the purchase OF silk
and vclvet dresses.
The Public of to-day, in a continued review OF the
situation makes the Observation-Disclosures remarks
PROBING "a wound is sometime, harder 20 bear t-du
auputatou. Eu. the financial situation ansodicy re-
Quirrs that uulucliug examination Whch ~ lItu' i'
most painful TIE debt statement shows mat tle 4fe'
uy is steadily eanmg in reserves IAe "anA s,l,eie4l
show. chat tIe NeN-4 or n1uh- are rtpt losing 'ti
Ic-if-.ruaere. au approaching position Whlch I CON
slider dangerous Tues0neuity pras iioin ne nae, lal
tu.l gave t-guili'-c- % tt lllt'7' wa =, 81
VA. f,y AID iaye not been aY'c, IF they nave r4tu TOD
check Dc NOW -Iat money begins t1 Pee scarce Ift'h
soc shall Ecfr-t is wonder that We nave ho- ii'-i %
abroad the Same cutlery violation OF ,hc Ia" n'
tnc Secretary oi the Urea which was ltarl lh i0'-
ana I~1 iu order t0gcIcFc tLe banks from tnt cons
.u tr 81 r mot OBJ. dCf of the Treasury to -3cfinrr
laws and t.e public good order thai individuals VINO
have 81 antony r.s,ed may nos Jose.
Otto-tay's stock market. Il is only necessary 20
remark that it has furnished additional evidence
if such was wanting, that there exist no public as
buyers Of stocks Tie opening was ieverish and
the rarlc, haiug unsupported Ted 10 o decline
After that =. rallied, 10y tine usual methods aud thr
again weakened. Ile whole story can DE- ln"
IN few words, without weary l-s our It,"
er- with the particular uuctd4tiohS OF ei'I
stack L ONLY requires thai rhc I'VE or sl-
capitalists UlO are stalking their fortunes on t'r
rri af card shall cease 90 Dt buyers, I'd nave tAt
whole malAe lapse Iui" Guinness anu .-e ~ ''i'i.
weak and decline. II is Het necessary ior them 70
sell single hundred sAaiCs 90 p"du iu, To >lu'
BAT rs vet. bv temperance With orders tn "L'.
they can transform the mar6et into bnoyant state
which seems TO have Ho top. Ihlr cuudluoh WEI
,.tpu. inst SD long as thtIr power OBJ Dorr0" n1htt
cost.ucs and no longer. ana then comes tle nQui-
GJlion With few exceptions, the closing prices
were lower shan the p.uLg While the total trans
o~t.o- for the day are arau off from those OF yes
t.rday. The sublolned table shows tne