The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-27
IANCIAl AND CONNER ClAls
AOQBY MAR X IF.

FRDAY, Dec 2e-eP.M.
the aews nom Europe has had favorable influence
upon the stock market The advance In conso and the
increase Of bullion In the Bank Of Eosand have flied
Spectators fancy railroad stocks with al sorts
Of hopes. They feel confident that all difficulties
have passed away and that about entering upon
new period Of imitation. These aangune and hopeful
Individuals may have e longer lease Of their present
prosperity, but the they expand their operations
the greater the revulsion when Il comes They are
rapidly exhaussipg themselves by tho sacrifices
made 10 carry stocks. II costs two and three
per cent pr month for money enable SPECTATORS 70
hold to their stocks they all looking for easy
money Market but Of them know where Is coming
nom. They put down what little money they may have
upon certain stock the upon certain card 1t
the gambling table, ftsey Fia al vol and good but
they lue, they keep on In the way until they get
cleaned out then burst up and retire. TO give way for
new operator Of the stamp Wall street Is simply
place for gambling upon large scale, and specuiasors In
atocks either side Of he game whether bulls beAs
come out better than regular gamblers Il faro or
roulette.
Al the board TO day there was activity than We
have noticed for days. Illinois Central bonds ad-
vanced X per oeAt; Pennsylvania Coal, 1; New York
Central Railroad, Ere u; sAding, y; Illinois Central
Railroad, q Cleveland and Toledo, u; GaIcnA and Chi
Oe8o - OiuDoc ouu 1uWeuAlcy Nuioa4O h0u noCA
Island Railroad sold II s4k a96 per CON- dividend Of
12k per cent off, II Il, believe, the intention OF
most Of the holders Of the convertible bonds to
them into stock the 10th Of January 70 realize
their investment and Ies the road drop. There many
safer and better places 10 put money than In the bonds of
. railroad company which boldly Acknowledges that
the object Of declaring largo stock dividend b 70 do
prccate destroy the value Of the convertible clause
in IT. bonds An Injunction has been talked or bat the
best way 70 soil such securities and plsse the pro-
ceeds The bonds stock OF company managed by
strictly honest and honorable men, such be found.
AZ the .eoond board the buoyanoy continued, with CON
siderable activity. Delaware and Hudson advanced x
per cent Erie VI Reading, y; Chicago and RocA Island,
N Illinois Central bonds y. Nicaragua Tranait sold u
Az per cent u both boards to-day. The demand for
money appears 70 BE- daily getting active me nsxi
ak days will without doubt try the strength Of
many spectators and many business men. The banks
are al t1d up, and calling In rapidly. Those who
look for an easy money market immediately upon the
opening Of Tho new year, will be disappointed.
The London Time OF the lth nst thus announces the
failure Of = heavy bear operator on tho Stock Ex.
change
THIS has been settling day in the English funds, ana
they have sgan exhibited uninterrupted an, Con-
soils for money, which left on last evening n 9as 70 u,
we're first quoted PAX to y. Owmg 70 the announce,
Of failure dealer who had besn spsculasing
jused fresh advance then occurred 10 S4x 10 Sab
sequenty the reduction Of the bank rate Of discount i'm
parted add onAl strength 70 the market end there
rise 70 9sT. This 10 , great degree maintained
MP 10 the close OF business the last being
94x TO for money and 96h 70 II Tor S8zs 70 "a OF
dvdend for tho 9Th OF January the differences Of the
pers0n wbcse failure was announced stated 70 be
about He bad sold between 900 and f5o0 geo
consos and almost destitute Of Assets TO meet any
loss
Tho Albany Argus published row days since the fol.
lowing absurd paragraph
The New FORK Central Railroad Company manufactures
IL ovn railroad iron at less cost than one-han III
kst vaIue. The average cost % railroad companies ID
nov 500 to Sos per ton. while the Cost 70 the manuo
tnrer about $50 per The cost OF the Central Rail-
road Companys iron works, ali compete including
bo0 acres OF land containing their oro St45 o00
This sum the company saved in year by making for
Itself the Iron necessary TO supply the annual wear and
tear Of the road.
This II eli boah. The Argus must ind other way
to puff tho management o, the New York Central Rail
road. well known that Mr. Corning, the President
Of that company, owns large rolling mill, and Of oourse
rolls oil the old rails Of the road His charge $50
per simply for rolling old rails The Argus appears
have Lost sight, In Ia ZEAL OF the fact that the old iron
worth something and cost the company pretty round
sum ~ the beginning. The comrsnys organ has
been deceived, or wilfully misrepresents facts.