The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-11-13

A. h. Niooays regular semi weekly sale OF stocks and
bonds viii take plaoe 10 morrow Thursday, half past
II O'Clock, at the Merchanis' Exchange
AT the second board the tendency upward strong
from lie opening and advance 70 extent
Allied Canton Company went mp Y per cent; Erie, vi
Cleveland and Toledo y; Reading IL; GAlena and Chi.
cago X. Michigan Southern Railroad closed n IN ID.
vance on the opening price this morning OF per can't
Gsltns and Chicago appears 70 be wo,ksg steadily up
ward In anticipation Of tho February dividend.
The events at the sock Exchange yesterday were
Of peculiar significance. Rumors had bean busy about
new issues Of stock In the Cleveland and Toledo
Railroad Company and they had assumed sufficient form
70 call forth disclaimer from tho treasurer o tho CON-
pAny Mr.. LtchHed. He addressed note 70 tho Pres-
dent OF the board In which he admitted that two
years since he had borrowed money the stock OF tho
company, which part OF the increased capi-that
tho company had right 30 TO mc such stock-dcnied
that anything ike ssus had been made by
The company, and invited an examination BY any NOM
Der Of the board This properly mot by the board
declining 70 enter upon such such duty
belonged TO the stockholders that tho whole matter
involved certain legal points that should properly DO
bkrsted upon before other tribunals The board, how.
ever Indicated disposition 70 demand that NE books OF
transfer Of all companies In which they deal should be
entrusted 10 bank trus, company and thus DO
surrounded BY proper guards and checks guarantee
against the possibility OF difficulties Tho board are
called upon 70 demand this disposition Of all books OF
transfer, aler the In this country and In
France II Ia the only way In which the community can
be sale.
would appear that these rumors, which we this
morning were dsposed 70 inputs 70 the stock JOB
bling propensiues common to Wall street, arc ofen
The result OF Tho improyidcnt speculation conducted by
The gers and officers OF railroad companies The
large transactions Of the past year have resulted 10 dsas
rous losses. sums Of money have been paid In SUCK
differences which oifcnn 70 for Individual
fortunes DO not exist competent ts,ee emergencies.
The socks Of certain railroads auciusisd from 10
40 per cent Largo spccuaiIons been carried Ia
these stocks and losses hare been runous wah such
acss before the public is ony 70 30 wondered tina,
worse runors do not prevail. 80 DO not believe Ia The
propriesy presidents and OF railroad compa.
mics leading speculative pack OF Wall stree. la stocks
under their own manascm and control. No man
make sound calculation whether 70 buy 10 sell. n
becomes q game Of heads win and tails you iose."
We have always considered the Cd managers Of tho
Ere Railroad Company responsible FOR the ruIuous
ossca 10 the community in their shsrcs-the same
Of the New York Central. The game going for.
ward with still more force and power In many OF
tho railroad stocks Of tbs Western stases. When II 10
seen bov easily ali this DO avoided 10 Surprising
Thai the pubnc 90 nox demand mo chAnEe NO man neG
right 10 enter into Wall street . large spcculaior,
VINO sis In tho solemn attitude OF jussice, guar.
dian Of other peoples property. Lot MIN surrender
his trust before he begins the gambling career. We
do pos believe that the change Of The books Of uaas
fer from oce 10 ancshr In Wan street will restore
public confidence relieve men from Their spprehen-
scus. Nor do No believe that the payment Of one or
two per cent for sixty day contracts vii attract invest
menss In stocks which BY their ucsusscns are
disturbing The public ind and giving birth 70 rumors
calculated 70 oil with alarm. Tbe sales Of Ere jester
dsy afternoon amounted 10 some %, 900 shares. n
The ovesovins Of the improvat purchaser Of tne bull
party for the past four months. Thus We have the be
ginning OF the end-a Few days orc and other things
In IKE nx ~i be disposed Of, ptVss wil sock their
natural level and AL breathe rrcer sd eser, with the
knowledge that 70 be forewarned Il 70 BE- ivesrmei
The following summary Of the report Of the banks
OF this state, showing their condition tho 2oh sep
ienber s compared with the last preceding q,sroriy
statement
Tho earnings Of mo Il Cro-se and Eivsokle RAILROAD