The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-24
FINANCIAL AND COMMERCIAL.
MONEY MARK ED.

prices rule and holders continue 70 carry their stocks at
an immerse expense. The bes. stocks on the market
be carried less than a. the rate Of two or three per
cent per month"; and any saempt 70 realize 70 any ex
tent would produce at Ianic II 10 question
whether money would be lost In selling or In hold
Ing on. would be bad business either way The buis
are in very dcu positon. They do not want 70 hold
on al they cannot let Co. The transactions as both
boards to day very limited, without any material
variation in prices. Illinois Railroad bonds advanced u
per cent; Chicago and Rock Island, Y; Milwaukee and
a. Reading Tell OF 4 per cent;
Michigan Southern, q, Panama, u. This afternoon
Erie eeclined per cent; Michigan Southern, 4. The
regular bull party nlled up with oil sorts Of railroad
stocks They just ~ much - they can well
under and every thirty days adds two and three
per to their cost 1t therefore follows that prices
must advance largely before they can ges out with
whole skin. When they are to lind buyers at higher
prices, at rates ruling, Ia question which
troubles them nightly. This same bull party, At the
head Of which stand Wesley 90 proprietors OF the
Tines months since went into Erie Railroad STOCKS
10 the extent Of about 600 shares purchased ~ their
paper said, oil for ineatn,ent Their purchases COM
menced at about 81 u per cent and up to 90 So
cent. After they had inpeed TO the extent desired
II was found tina. the market was not much
affected way or the other. After time prices be-
gan droop and in the Of every effort made TO the
contrary, they down to 5oaI 61< per cent. At
length reaction took place, and the market gradually
improved until 90 per cert reached Al that point
the bull party realized pocketng . loss on the whole
transs con OF about hundred thousand dollars Their
investment 10 Erie proved permanent than first
,icipated. They glad to get out Off, At the
sacrifice made. The bulk OF the 20 900 shares sold
to Little Co., and bat for the large purchase OF that
house the bulls would have Lost good deal money
We look for similar result 10 their present operations
but they have no Jacob Little TO relieve them Of
such loads Of stocks and the probability that when
the burden gets TO be too great carry they will have
to submit to unusual sacrifices.
The bull SPECTATORS of Wall street do not make much
Roadway in their stock operations The New York Gen.
trail Railroad and the Albany clique Of Spectators gene
rally have much they stand up under, with
their load of railroad stocks The principal wrepulers
Of the Stock Exchange Just now are Wesley Co., pro
prietors OF the Times, and they have Influenced many
whom they operate for not TO accept tles offer for
settlement Of his differences The object OF Wesley Co.
is to keep Mr. Little away from his seat at the board
that he w not have the power OF frustrating OF the
plans Of the cques OF bull SPECTATORS. The house OF
Wesley Co. using their outside customers TO fur
thor their private ends the stock market They
represent through their organ, the Times that after the
LIST Of January prices to advance, and that
They represent that II Ia all important that Mr. Little
should be kept Of the board that long kept
DOT the market can be sustained, and that all rail.
road stocks will command prices something ike their In
trnaic value. Mr. Little has made fair proposition, and
is dcsrous Of pay oil in full bu. can pay only twenty
five per cent in money All Of his creditors are willing to
accept his offer except the Albany epecuators and their
representatives in the street. SO long they keep
the great out Of the ring they the small
OF bull operators easily, and keep them
steadily In the traces. All sorts OF interpretations
pubkcy and privately made 10 induce outside ders
OF stocks 10 hold on and realize. II would be the
ruin OF Wesley Co and the reckless class CT SPECTATORS
they operate with to the smaller class Of spccula
tors realize, and is therefore of the most vital i'm
portaroe that tho tmd and the ignorant bulls should
blne to state Of the market Is the duty OF
the Times TO keep up the confidence OF those not
nected with the Wesley clio Tho fact that Wesley
Co. proprietors Of the Times and have complete
troll on It's column has given them at Albany and through
the western part Of this state power and importance
the stock market which they otherwise would
have enjoyed. Spectators at Albany Utica and Bidao
know that the Aid o. paper devoted entirely to the bali
interest Is auxiliary In Wall street far greater than
any other broker possesses and they also know that tie
only way TO get the benefit OF that organ is TO JON the
wesey Co. clique Of operators. In this way the lis,
las ehthFktu uuu' ~ nes hprorocu ppeCulA
tive spirits of The sixe. The firm Of Wesley Co. orig
nated Albany small note brokers and Its nnanceripg
hs Tire start been Of the school peculiar to city
corrupt Of politicians and imam tiers be
found any the face OF the than 10 Albany
They known the world They = complete
band OF brothers Whenever there is any money 70
be made-elther by political wirepulug or by stock
speculation. With power 10 the Legislature to
enact laws giving monopolies TO bank note brokers
or authorizing railroad consultations and issu-
ing bonds for Imaginary Indebtedness, apparently op
posed politically and representing all tho dsren, party
factions they combine and &C, in uaiscn when an op.
portuny presents iso, can be crested for the par
pose Of drawing money from the pockets of tho people,
Members OF tais clique be found in all the principal
cities Of the State They have amassed wealth with the
legislative aid extended them and comprise party
in the state hsapcialy and politically powerful enough
TO control tho Of legislators The pusis pretty
well posted in relation the particular objects their
favor and support aud |, gradually whdra wing ts neo
res, the managed by set Of tpecula who
may 10 morrow be engaged In project calculated
d and intended to inlre, II not destroy the very thing
they crested, and for time so actively supported
After the al ournment Of the board the folio sing sales
OF stocks and BONDS made Mt auction by simeon
Draper
80 900 Coicaso s. Paul and Fou Du Lac Ra int adj 90
600 Lake kre, Wabash aud e. loui, Ri iut ad TX
Ice shares Prlsmauc Turning Co .............. as1
so shares Lake ire, Wabash aud 81. LOUIS RR.. ish
A. H. Aicoay will hold special auction sale Of stocks
and bonds 10. morrow "wednesday, at half past IL
O'Clock at the Merchants Exchange in consequence
thursday being Chr stmss there viii be no sale on
that day.
the Assistant Treasurer reports to-day rs FOL
lows
T0ci Tbta raal
Rcsspn PdDDuhn Balance.
Monday. go. slIi Ss3 al s2is07t 81 sll.0a9,2T2 90
Tuesday ...... seams 20 2so ~ n,ess,l0i As
The warrants entered at the Treasury Department,
Wash pston, on tho 2oth INST, were Ms follows
Texas debt warrants 5000 81
for the reden, ptoa Of stccKs 15,032 %
For The Treasury REPAYMENT. .......-.,.. SOS os
for the lniaTier Department. 20.2b4 so
For Customs Is T9s 10
war fcceivtd and entered ....... 5t,136 b5
War repay recsved and entered s3sIg Is
From Cusiorrs ~ 400 o.
From mi'celancous ssurces ................ ISL 81
MS Inn AS fo~