The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-10-24

the market was exceedingly buoyant This continued
for shert time, when it announced that the house
Of Jacob Little e. Co. had suspended payments. The
excitement Immediately became very great, and
seemed to know what move to make next. The shook
for the moment very great, and the effect upon
stocks Of unfavorsble character Quotations fell
about per cent snd the market closed heavy at
the decline. Two other falures-stock brokers-wers
announced to day; but they small, compared with
the one above named The operations of the house Of
Jacob Little Go in stocks, have, for time past
been immense; they have been the largest bear opera
in the street, and it reported during the recent
depression in prices for all the fancies that the firm had
made several hundred thousand dollars in differences.
The loses Of the house have recently been very great in
Delaware Hudson Canal Co stock; the only stock
the list they large holders Of This stock has fallen
about forty pet within the past twelve months and
that depreciation several thousand shares sui
cept to weaken the strongest house Erie Railro al
stock has been steadily hammered by this firm and the
rise has been and rapid that it required
nous resources to meet the differences daily arising
All the leading stocks in the market have been sold
largely short by this and they have all ad
vanced the Losses must have been great jacob Little
Co. have probably been the consistent bear opera
tors in the stock market during the past three years. In
Wa street. and IL is stated that their contracts to de-
liver stocks amount to nearly three millions of dollars
and domestic exchanges and considered by many,
up to the last ment only sound and solvent but
the weahest private banking house in the city It Is
expected that liability will be paid in full except
stock differences, which have doubt will be COM
promised and the business of the house go without
much interruption
The senior member of this old and we'll known banking
h has been operator in Wall about thirty
years, during which time several financial revu
al Init nd bave
been experienced, which have shaken to the ground
nearly every other house of any magnitude in that
vicinity Several years since this very
falling from large losses purchases Of the leading
fancy stocks. 1t stated the time that nearly
million Of collars paid by this firm in differences,
but that large at that time not sufficient
to break them down Since the transactions have beer
of different character Instead Of holding large lots
Ct fancy stocks they have been large sellers and the
sult has rsnsped IL will be by this aud several
other failures which have occurred thsyes that specu
lstion stocks Is the most uncertain dangerous bust
capital be embarked in 1t matters very little
whether operations for rise fall the market auc
tuatet frequently aud suddenly that the hrewdes
and most experienced individuals are caught. The
bears general thing have been the greatest suffer
lately but the bulls have had pretty heavy loads Of
depr ciated stocks to carry during the past three
four months. The previous rise however greater
than the class, operators TOR an advance
have made money. The bulls have the field to
thems elvee. Not a bear dare show his head ir,
Wall street The FIRST effect Of these failures
will be, without doubt unfavorable A. far rs quo
tstions for stocks concerned. After q short
time, the demand for certain stesks Is likely
to be large as new buyers viii appear In the market to
make good their contracts. Ultimately, think, the
effect will be bad the suspension Of houses which
so long been considered number one will be likely to
create di,trust and tend to dsstroy confidence.
At the fret board to-day Canton Company advanced
per cent Erie Railroad az Norwich and Worcester u;
Harlem, "a; Reading Railroad, y; New Jersey Nao
Company, ~ Hudson Railroad a; Long Island, v;
Edesworth Company, ~ since last sale All the leading
railroad securities active After the board there
slight panic in the street and during the excite
ment prices fell of considerably At the second board
the market still continued depressed There ope
rstons in Erie Railroad at quotations currens In the
morning; In Harlem at decline Of - per cent; Norwich
and Worcester, al Reading Railroad, y; Long island
a. The excitement will b. somewhat subsidized to.mor-
row. when the effect Of the events Of day will b. more
clearly defined.
The receipts at The Office Of the Assistant Treasurer Of
this port to-day, amounted to SIS 397 IS; payments
S4741i "a balance t32es 40 So.
Tie steamship Hermann, from Southampton, bring
four days later from all parts Of Europe The
news is neither interesting important neither hvor
Gtle utfsyorabie There had been change ia any
Of the markets.
The amount received Tor tolls on all the New York
State canals during the second week in October Is
sl5z2s sO period in 1850, slo7 $40 OIL; increase
In 1851 sloSso CO The aggregate amount received
toll from the Of nsviga alton 10 the 18th
October inclusive Is s267o b25 ss period in 1850
i2sss go 10; increase Ia 1851 sZ33 bs5 Is.
The report Of the Mechanics Bank Of August. and ne
agencies dated October g. 1851 shows tina. on thrt dsy
the loans and disc, UNITS amounted saos 800 erchsux
running 10 maturity, seq 1872; circulation sssts7s
sTecie t2li0eo; deposits slo0 SIS; capital s5ooOocs
refervsd fund s1ts GOO. OF the notes discounted only
$500 are considered doubtful Bills aud notes in quit.
$500
The New Haven aud New London Railroad Company
have called Tor the ninth nsa ment Of ten dollar, ma,
share on the capital stock payable on the art aav 81
November
Notwithsta ndrg the yrub ing ana croak,ng Of mann
lecturers In the Eastern States, we see new mills are 10
ing up In all sections 1t has been pretty we'll setts
that the tariff will remain II isthat there will be nc
alterations In the act Of 1896 and that the manufo,ur
Ing Interest must get along without any more protec
ton than they have. There il no doubt but thai
they viii get along well enough and when thew become
fuy satisfied that no more aid from government will be
ektno'd, there VIII be better management and more
ecentm my In the enormous cotton manufacturing .s.h
lishnent in New England The Atlantic comna,v .ns
The Essex Company, Of Lawrence, Massachusetts have
largely extended their works The Atlantic Compapv
have just started srew mill driving fifteen thousand
spindles and the E,sex Company are about greetings
new mill for the manufacture Of de Iaine.
The Philadelphia LSeer, In speskng Of the New Jersey
Exploring and Mining Company, says:-"we see much
In the New York papers the New Jersey Exploring and
Mining Company, and hswr the works OF the company
svorably spoken Of BY persons In this city There -
Ing been many mining failures as well AZ some mining
frauds In New jersey 1t may be important TO those nte-
rested TINS company TO have the public informed that
properly speaking 1t is neitl an Exploring nor mining
company but simply paint making company, its busi-
ness being the manufacture Of black brown and white
zinc painta n Id ~ 1ir Ill.