The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-13
FINANCIAL AND CONNER GAL.


FRIDAY, DEC. lZ-o r, II
We have again to record avery animated stock market
particularly for the Western list. New York Central
out in large quantities from FIRST rate hands. The
"report" 10 properly sppreoia,ed-men read for them
selves and understand figures - well ~ the mana
gers and vi lie Influences OF exciting character
artificial state Of things be generated for day on
the Stock Exchange day moro and the truth 10 made
manifest and holders part with The scrip while Wall
street supplies the money The price Of the stock 70 day
maintained n S4A The transactions consider
able, but after the Board adjourned fell to 84H and is
of in the afternoon n esq., dull Erie also declined at the
afternoon board and the Western stocks hardly
maintained. The differences pad today to maintain
prices worthy OF note-ih per cent Michigan
Southern for 80 day contracts, l per cent for Cleve
land and Toledo, per cent New York and
Erie-ihe time bidders declining TO mskes deposits.
H. as has been stated, the feiers have heretofore run
things mo he ground tie buyers now no less I'm
prudent They buying all they contract for, and
houses OF moderate using all their power TO
keep pace with thote better supplied. few days moro
and the excite ment must have end when the question
will resolve itse in to OF money II he banks sup
ply the facesto the tune Of 81 600 per week. ocks
may be maintained; they discontinue these facilities,
they will decline.
More sharp practice has been discovered to day not
uncommon to Wall street. The house Of Jacob Little h
Co. transferred 100 shares Of Reading Railroad stock
TO one Of the largest repI esentaves Of the buying
party the day before their house suspended-and
accidentally omitted to sepd for check. The fortunate
receiver OF the shares said nothing about IT, bat kept
the matter and quietly waedor Mr. Little to make
the discovery This morning Mr.. Little requested the
recipient of the stock TO transfer them, to furnish
the money, which declined. He simply inform
ed that the proce said 750 had passed
to his credit against certain contracts in aundry stocks
which Mr. Little had not fulfilled. The question viii
doubt be promptly settled by the Board 70 morrow
either the MONEY must BIO refunded the common pro
perty Of al the creditors the party implicated viii be
expelled. The Of the Stock Exchange all ques
tons involving the rights o; individuals has invariably
been prompt and just It has ommanded by this
the confidence OF the community.
The demand for money has been very active all day,
much moro so than for some time past. The effect
apparent a the second board and the market very
dull At tho close-whhout scarcely an exception.
The Bank Of America had been fully indemnIhsd for
the overdyawn amount certified checks Every eort
made by the bank teller 10 induce the party make
the amount good that blame would attach TO him
far having overspped the stric line Of duty but for
known to the drawer tho check and his friends
WAS not done until the affair became public. After the
expose had been made, they made he amount good 1t
Is customary 10 ell bauks to certify checks before tho
accounts tor the day made up and is not right that
Ill III INC nlaUer spDuu DC thrown up
tho paying teller. Tho CLERK In this instance had Pc
cuniary interest in the affair." The party overdra wing had
kept account In the bank for several years, and
his checks had been certified upon presentation, Ike
moet others, and he had not before failed TO respond
The certifying clerk In this Instance may have exceeded
his duty, but he only formed 70 the He has
been about twenty years In the bank and his accounts
have been found correct in every particular n, has not
been connected In any way with stock spesuators bat
unfortunately had confidence enough in one 70
the responsibility Of cer,ing hts check for large
amount before the account made good. Every bank
In Wall street 10 liable similar mistake Of
judgment, and ~here occurs disposed to
do justice TO the party concerned than ourselves. The
custom Of certifying checks may be convenient in bust
point OF view, bat Is attended with serious rsks
and should be discontinued.
We learn from Bofaie that the foreclosure sale OF the
Buffalo and New York City Railroad under the second
mortgage, took place yesterday in that city. The road
brought S275 oe0 subject TO the first mortgage of ST. 2oo
eco and accrued interest," amounting about $3.50 900.
Mr.. Patchin the purchaser. portion OF tho rolling
stock was sold for $osooo, and the remainder is TO be
offered to morrow.
The details Of the isud sales OF the Ihaos Central
Railroad Company for November - follows