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FINANCIAL AND COMMERCIAL. MONEY MARKET. SUNDAY, April 19-6 M. The stock market closed yesterday dull and depressed. The disposition to realize among holders appears to be extending, and there is an unusual amount of stock pressing for sale. Public confidence in certain kinds of railroad securities has almost entirely run out. This is a result we have for some time past been looking for. It takes a long time to arouse the great mass of people to a sense of their danger. The credulity of speculators is perfectly astonishing. The word credulity is employed, but the word depravity would be more appropriate. These speculators persuade themselves that their schemes are just what they represent, and are to result as their interests incite them to hope. They work themselves up into the belief that there can be no drawbacks, no revulsions. We see and hear daily of new projects, involving the employment of millions of dollars, being got up and the stock and bonds about to be thrown upon the market. Railroad schemes of gigantic proportions are ushered into notice, companies organized on paper, engineering and surveying expeditions fitted out, lengthy and plausible re ports published, and all sorts of means adopted to get the schemes fairly affoat. Presidents, treasurers, managing directors, engineers, agents, find for a time profitable em. ployment, and money to pay them is raised by sales of stock or bonds. A capitalist once in for a penny, is very apt to get in for a pound. He grants new advances with the hope of saving his old. Sometimes the credit of States, Territories, counties, cities or towns, or the internal improvements lands or Funds of a State are pledged to secure bonds of such corporations; and all understand what first, second and third mortgages are. We have heard of large amounts of this class of securities, that will come upon this market within the next few months. There are many who purchase such securities to sell again, who do not care whether they are really good and safe or not, provided they do not depreclate before they can sell them. Though appearances would indicate that we are on the evo of a financial crisis, not only in this country, but in Exrope, and of which the failure of Greene & Co., of Paris, is but a sign of a token, though no man has reliance on the Credit Mobilier of France or the soundness and stability of the London money market, though all see that the stock market has culminated to the highest point, yet we doubt not purchasers may be found for new stocks of any kind and character, good, bad and indifferent. In the face of the immense losses that must have been realized upon the depreciated and depreciating stocks now on the market, we should not be surprised to see new schemes succeed with as little effort as in times of the highest confidence. It is protty certain that those who have suffered by the most recent financial operations will not be among the victims in new projects. It will require a fresh supply for the next harvest. If it is in our power to nip any new scheme in the bud, weshall most assuredly do so. Let us bury the old carcases before the slaughter again commences. We have only to run our eye over the list of stocks now daily operated in to find plenty of carrion for the vultures to feed upon, without seeking out fresh victims. We understand that the payment of New York city warrants was refused yesterday by the City Chamberlain at the Shoe and Leather Bank. They were afterwards offered in several other banks to raise money on The Clovelated and Toloda Refiread Company have do.
