The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-07
FINANCIAL AND COMMERCIAL.
MON Ely lar X e r.

SATURDAY, Dec 6-6P. N.
The tendency Of prices throughout the sitting OF the
first board DOWN. ard aud the transactions were un
uualy large. the principal operations for cash.
and large lots OF all the leading speculative stocks
pressing sale. New York Central RR declined z per
cent; Erle Gaens and Chicago q Michigan Southern,
~ Cleveland and Toledo, 1; Chicago and Rock Islasd,
Ia. Illinois Central bonds advanced u per cent Canton
Company, - Pennsylvania Coal, q; Panama. Ia. New
York Central Railroad stock pressed for sale with
great deal of vgor and perseverance, Ese Reading and
Cleveland and Toledo freely offered After the sd
ournmen lower prices ruled, and feeling OF doubt and
apprehension existed among ell classes Of Spectators
The losses by the failure Of jacob Little Co. fell upon
the most prominent bull operators II is reported that
Wesley Kowalski, J. W. Rogers, Drake Carter, De
Launy, hein d Clark, and several other prominent
concerns are heavy sufferers by this suspension.
About half q million, or about one half OF the total,
liabilities Of Little Co. are divided among haf dozen
houses the Tho different clques Of spectators
represented by these houses large losers Those
purchased extensively of all the leading railroad
stocks at low prices must be much disappointed In not
getting them. In many instances where sticks have
been bought of Mr.. Little. sellers option and sold out
again. buyers option, there must be serious l,sses.
Brokers who have operated In this way cannot get
their stocks at the low prices o. which the purchases
were made, whlelthey are liable 70 be called upon o.!
any moment their vn contrscts This coupels them
to the market purchasers again and the demand
from this will temporarily sustain prices. II Is
the interest OF these brokers to depress the mare,
that they may get in their shortsor the Titles failure
has made q good many bulls short-at lower prices As
these deliveries made the market becomes weaker
and weaker, until we SHALL some day, find
ourselves In tho midst Of another panic.
Some days argued that prices In the stock
let were sustained almost entirely by the active demand
from the shorts that the bears had oversod themselves
and tina. tor the moment the supply was not equal TO
the wants for delivery II followed that that
excessive abort interest had become reduced and stock
bad accumulated 10 sufficient extent, nj high prices In
the hands Of brokers, the market would rule at lover
ponis but things have taken different course Tho par
y from whom the demands nccesary 70 sustsin prices
was come suddenly suspends that demand instantly
ceases Holders OF stocks Tor delivery, rather parties
who had sold stock at prices ve per cen, or so below
curren, rates. on time anticipation OF receiving a,
prices per below their sales, suddenly ds
cover that their to deliver stands against them
while their contract to receive Is worthless. In
other words certain brokers who have been ac-
lively engaged In Initiating the Market ind them
selves suddenly short Of stock at comparatively low
prices To prevent serious losses these brokers must eS
crt all their inaacnoe 10 doprcss the market Is now
for their interest that low prices should rule fnfcpen
dent OF this depressing influence the demand for all
the eadipg speculative stocks must be very limited The
firm OF Jacob Little Co. was short not far from ono
hundred thousand shares Of stocks Not share OF that
immense quantity Ia wanted, and the demand upon the
market TO that extent has been removed. The effect of
such srea, change the position Of affairs cannot well
be mistaken.
At the second board the market weak and feversh
The operations only TO limited extent. New York
Central Railroad closed heavy at Elk per cent Eso fell
OF y per cont; READING, =; Galera and Chicago, u
Holders OF stocks making desperate Efforts TO sustain
prices but utterly hopeless. few days siuce tho
short largely exceeded tho amount OF stocks
the street; the stock the stree. largely exceeds
the short conirscN