Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1845-11-15
NEW PORK C0RRESP0NDENCE.


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No sooner is it decided that there shall be Con
venton to revise the Constitution Of the State Than
the political caldron set boiling and the leader,
of petty cliques organize for the establishment
new clubs. 1t is said, with how much truth pre-
tend not to Judge, that the Locofoco party contem
plate establishing what is termed Reform Clubs, sc
as to arrange Constitution that shall need no alter
alton by the Convention when they meet--al
things being " cat and dried" If this project be
attempted it is probable other parties will pursue
the same course, and then comes scrub-race for
popularity.
The Abolition party will rally with their whole
force and, by compromise or otherwise endeavor to
elect many members Of the Convention as possible
having for their object the abrogaton of what is
termed the property LITIGATION, which requires
that black man, to be entitled to vote, shall be
the owner of landed estate Of the value of two
hundred and fifty dollars over and above all incum-
brances on the same. There are many sound Wings
who believe, if the blacks be allowed to VOTE that
they will vote the Wing ticket but am not Of the
number. Nor would consent if knew they were
with US, to place them on the same platform with
the whites.
Mr.. HoyT, late Collector, is making an effort be-
fore the grand jury, now in session. to procure an
Indictment against WILLIAM L. MAcKENz1E for
publishing the far-famed private correspondence Of
sundry gentlemen, oce-holders, and recognised lead
ers Of the Locofoco party. What is the title tech
nically, of the charge against Mackenzie do not
know; but, in plain English, it means getting pos
session Of these papers fraudulently. The friends
OF the defendant assert with great confidence, that
the bill will be defeated.
The Stock Market is in an agitated state. The
solid and substantial stocks, however, from day to
day, vary but little; but the ancies, as they are
termed are the sport Of gambling SYSTEM and often
he Of ar,for &c
sanguine temperament. In other countries their
stocks indicate, in some measure, the condition and
prospects of their public affairs not in the Uni
ted States, but especially in the city of New York
1t is an every days transaction, at the Brokers'
Board, for men to buy and sell large amounts OF
stock when it is known to both parties that the
seller has not at the time one dollars worth of stock
under his control. These sales are made payable
and deliverable in given number Of days. These
are gambling and often ruinons contracts.
Let me give you an example. 1t is very COM
mon thing for brokers and others, having the COM
mand of large capital, to purchase while it is low,
all the stock in market Of some particular company.
Having done this, they contract as above for more
than the capital of the company, and then run it
up to any price they please, knowing the impossi-
bty of the seller to deliver what he has contracted
to deliver. This is what is termed cornering
him." and the poor d. cornered'' must pay the
difference. Example: Norwich and Worcester
Railroad has been selling all summer at about IS.
Within few weeks capitalists have scorneref' a
number Of the bears, and this day it sold at s7a.
No investments Of importance are making at this
time. More than nine-tenths Of the purchases that
are made are purchases of the character above
described,
The various banks in the city Of New York had
in their vaults in specie, the lst instant, about
%, ! 100000.