The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-02-11

took turn downward, and with the exception Of one
or two slight reactions, have been steadily settli
down. that there has been average loss Of sbout
ton per cent including interest every share Of Hsr
ism and nearly that on each share Of the other two
loss to this extent, many thousand ahaxss Of
Stock must have been enormous and have ssrious
~ weakened those who have up to this time sustained
themselves. The clique Of operators in the hnsiss
referred TO- made almost superhuman efforts tsturn the
tiden their favor but 1t utterly out Of the question:
Had the stocks they held any intrinsic value
they might have escaped part Of the ruinous lossss
realized but o. they were daily becoming in reality
less valuable and wers and stin are rapidly dsprsest
ing, 1t must have been species Of monomania that
induced such to involve themssve 90 deeply With
such worthless trash.
The failure alluded to Saturday morning, v.sp
the house Of Rawdon, Grosbeck Co., nrm Of high,
standing, and rsputed to be wealthy. This concern.
had the control OF about 5000 shares Of Harlem
stock bought at prices ranging from 81 to 81 per cent
Several of this stock had been purchased
ct high prices buyers and sellers option the con-
tracts for which still running. When the house
found that there possibility Of prices improving
and that they could not take In the stock contracted
for the managing member Of the house laid out hig.
course and boldly pursued III and must give him
Great credit for the shrewdnesJ and calculation ex-
hbited in such an emergency. 1t commenced ct tho.
second board Wednesday when the sales Of Harlem
amounted to about 5000 shares, principally sellers,
option On Thursday morning 5000 shares more
were sold sellers option and In the afternoon nearly
as much more, on the same terms. All this was Gros-
beck's stock and when 1t became known that he hac
90 many shares and avoided bringing cash stock on
the market the brokers of Wall street In dense
fog; all kinds Of reports freely circulated but
none appeared satisfactory sad IL not until the
house Of the large seller the days named suspended
that the mystery solved Itwss then clear enough
Instead of bringing all this Harlem stock at upon
the market and selling 1t for cash, which would have
created tremendous panic, 1t was sold long time,
feers option which conveyed the impression that the
not be gutted better prices there
fore obtained This shrewd reduced the diff
feences to the loser and will enable him to settle
satisfactorily The contracts to deliver Harlem stock
now running to maturity, have been transferred to
those who purchased time from Grosbeck, and the
failure only takes large customer and holder OF thie
fancy out OF the market The effect of this must be
unfavorable, and will be felt In few days. The game
in very interesting position IL stands; and
Is the parties engaged all brokers' 1t matters very
little which party comes on victorious. The uu-
favorable feature in the affair greater concentration
Of the stock The heaviest purchasers, Wednesday
and Thursday, the other members OF the comb
nation who at that time holders Of an Immense
amount Of the eams stun. Previous to their recent
P~ASHseoo, snoy hsu3 eoPPoSou tueu tuoy
could conveniently carry long, and have long been
anticipating a breakdown somewhere from the enor.
nous accumulation Of stock in . few hands.
II will be by table Of quotations that prieee
have since this suspension advanced nearly three per
cent; but will be observed that the daily sales SINCE
have not been large 1t impression when We rst
noticed such large lots coming upon the MARKET that
it the last dying efforts of expiring BULL that
all hope Of prices improving upon any merit In the
stock ITSELF had been abandoned that the holder
or holders had become desperate and had determined
to be relieved at Of the load that been stesd
ly increasing and wss daily becoming more burden
Some II was our impression that 1t the voluntary
act Of who had the his ways ana had
changed his tactics and about making an effort tc
redeem his losses by getting into the current Of pub
lie opinion and float steadily to fortunes We did not
suppose for moment that II the energy Of DESPAIR
or the last expiring throes of Of the most formi
dsbe bulls the bears had to contend with The result
will however, be the same II has given the market
generally and fancy stock operations particularly
shock 1t VIII be long time recovering from; ana those
vhe drawn into II at present prices will wish they
had taken coed advice whom II vas not too late
The annexed statement exhibits the quotations for
the principal speculative stocks in this market for
each day Of the past week and ct the Of the week
previous. Prices have not varied much but the weak
has been active than We have notissd for lous
time -
Quotations ron ruE PRrycryAI srs,.. n. -. ~