The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-08


Little was Of the largest II not the largest seller, he
was also the largest buyer and in times Of dsttust and
want Of confidence In fact the only capable and
willing to buy the worthless material which comes Ia
foods upon the street. The operators win nnd that they
have destroyed tner only Of obtaining currency
for their merchandise.
is astonishing with what bodness, blindness and g
norance spectators into the stock market and in.
vove themselves buyers Of certain class Of railroad
securities, and how little they understand the elect Of
such an event the suspension Of such an immense
operating house a. Jacob Little Co. We venture TO
say that there not in the street 1t the Stock Ex
change half dozen who see far enough into the
future TO anticipate the ultimate result OF this matter.
Holders Of stocks either cannot will not the danger
OF their position We not sure they could help
themselves much, even II they fully realized Il. It
10 estimated In the street that the stock account
u Mr.. Little amounted to full one hundred
thousand shares, divided between about half .
dozen leading railroad stocks His shorts were about
three.iourths Of The entire short Interest IN the
market For the purpose Of placing this subject clearly
before the amateur specuator, win illustrate case
The quantity Of Chicago and Rock Island railroad stock
on the market 10 estimated at 900 shares The short
interest in this stock was 10000 shares Of VIII CD Mr..
Little alone had about 49, COO shares. Is hero calculated
that the bears have sold about shares than
the market aords ard Is the intention Of the buyers
TO make the sellers pay large on account OF
their inability 10 get the stock for delivery Alter having
made these contracts receive stock ut low prices the
combination 20 and bid up the market rapidly,
and run the stock p to l04 1o4k per cent In doing
this they compelled TO buy TO extent with the
idea that the bears being short much than there
stock afos! will DO compelled to pay enormous prices
for the whole and they would nothing occurred to
interrupt derange the very pretty scheme Blu. aoci
depta viii heat
In this instance the failure Of Little Co. upsets oil the
nice calculations OF the clique His stock interest Of Is 900
shares IL 1t annhiated and the remaining stock
interest OF only 1900 shares has supply Of shares
to provide itself from II will be seen that the position
Of the parties Is completely reversed. The demand be
reduced to less than half the supply, and
the shorts find difficulty in making their purchases
comparatively moderate prices The effect Of such a
coup dea upon the holders Of the stock cannot but be
Of an uniavorable nature. Having purchased at
high prices, In anticipation of demand far beyond tho
supply, they cnd themselves with large supplies
and limited demand. This IL but sample OF the whole
t All the leading speculative stocks on the market are
in the same position In all Of them the short interest
previous to the Little failure far In EXCESS OF tho
quantity Of stock the Market but since his failure just
the has been the 1t Is almost invariably
the snor interest that keeps the market active and sue
tans prices without 1t there would be no speculation
II therefore follows that immediate and unexpected
Annihiation OF the bulk Of that interest must leave the
market without support We do not how operators
81 al experienced in Wall street hesitate moment
In arriving a such conclusion. In the face Of these
difficulties there u every probability Of more stringent
money market. The demand ut the close OF the week
active, and the supply in proportion more limited
Nothing Ii wanted just now but turn or Two OF the
upon the money market to produce such panic
among holders Of railroad stocks have not FOR
years.
The total expectation OF specie from this port last week
$64 92s S. making the total tor the year, TO date,
$3b. 4l4.bl4 30.
A. H. Eicolay's regular semi weekly auction sale or
bonds and stocks will take place MONDAY at ~ O'Clock
At the Merchants Exchange.
Tho receipts Of the harlem Railroad Company for the
month Of November 1885, amounted TO. ..s9i7is 4s
Same month last ear...........-......... So25 ~
lncressc... observation-disclosures. S7oe2 II
The earnings Of the Little Miami and Columbus and
xenia Railroad Company for the month OF November.
1885, amounted sos 919 05
rovemDer II,ooS W
Increase taitS per ceDD .............. s2o,tso IL
The anthracite ceal year Of the Reading railroad Com
pany closed on Saturday last, the 2oth ut the 3oso
coming on Sunday. The whole tonnage brought down
for the year ending thai day, 10 oss 1907 tons
Ing decline last years coal tonnage o. i23 47e tons
We shan shortly have the Compiays statement, which
viii inform us Of the difference In the cash receipts and
whether they correpoudnEy great the decire
In tonnage. Tho hssiness Of the several hnes counting
BY weeks q heretofore, sevcray up folio
FOX WEEK.
Lehsh canal 49,. 49,. ao,237 ls946 DEC e.s92
schuylsii Canal ........ 2t.Aes s2,lss Inc. lo7s9
Reading RAilroAd........ 27Tt3 ab,s9s Inc. 1885
Total tor the week.. 7s4a lOa,i4s Inc. aisi
1855. 1866.
ehrh Canal. .l,sis,o'I i,lso go n,c iss.ea
sssS, @ IssU,s Inc sss
Total. .............4eai,se 500 4,eai,sIa Do, loo2a
wilt be seen that tho tonnage OF tho year. up TO the
date Of tho last reports, only oo2a tons behind that
Of last year 10 tho time. Al navigation closed early
last year, 10 probable that this the tonnage
the preent reason fully equal 70 that Of Las. 10
the same time.
The Pacioe Mail Steamship Company st present In
mott prosperous condition. he capital is s3s4 600 and
Ills out Of debt On the nrst October, 1854 thcre
csaccpcy Of and since then has paid the debt
then due follows
To Rowland Aspnw ACKNOWLEDGEMENTS. sell 900
10 otner erednors zsooeo
fcndcd deot... 2saooo
TOTAL.
a paid dividend OF twenty 1--WE per cent 70 the stock
holders, afier retaining surplus Of between three and
four hundred thousand dollars. The Company owns
twelve steamers, all (wI,h tho exception Of the 81 Louis
ready Tor in mediate servce) the racinc and oil
In excellent order. IL also foundry and machine
shop Tor repairs and the construction Of mschnery,
located Al BsnIcis The present business Of the Com
a. hv NJ
hsurance, commissions &c, transacted at saving Of
$40 oeo per annum on the former cost
Tho receipts Of the Kentucky Central Railroad ase Co
vnison and Lexington Railroad Company for November
we're follows
NOVEMBER, sts,el3 20
November, $3.50 81
incrc,se 2s per cent. sto,el7 20
and 81, 500 over.
The value OF general merchandise imported mao this port