New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-01-13
TUESDAY, Jan. l2-P. N.


A continuous advance for several days brings re-
action in the natural of things and is not,
therefore surprising to witness check of this charac
ter to-day in the upward progress OF the marked Early
sales at the First Board We're nearly up to closing
prices of Yesterday for most othe leading shares but
il soon became evident that prices must give way to
the volume of stock pressed to the market for SALE
and concessions of from to y cent were submitted
TO before the close of the session. Newlork Central
was one Of the strongest stocks the list, and held
quotations very we'll Erie declined to q under heavy
sales for heavy street operator, and after the
Board was affected unfavoraby by the Annual
Report of the Company, which, though not less
adverse than was anticipated generally, brings the
unsatisfactory condition of s finances and the falling
of in business for the year under fresh consideration
Reading was steady, with fair amount of sales on
time. Southern broke down under small sales, show
ing for the hour decided weakness than any OF
the leading fances. Toledo was toerably steady, but
not very active. Rock Island one of the heaviest
Stocks on the list selling down to 702 and apparently
deserted for the time by its old friends and supporters.
We hear of no satisfactory for this marked de-
cline in stock which has hitherto ranked one of
the best Western Roads in our market. Mr.. Flags
pamphlet has been used to extent to create
favorable impression but it is difficult TO discover what
points in that document bear a construction preju-
dcial to the present market value of the stock. In
point of fact Mr. Flaggs statement should be consid
cred rather favorable than otherwise TO the Company
so far as its present condition is in question. Galena
was in fair request, and firm. Between the Boards the
decline continued-street operators catching the tone
of the market and following in the current and al the
afternoon session there a further downward move
ment accelerated somewhat by the efforts of the bears
who are glad to temporary control of the
market. New-York Central sold down to 70 on sellers
option but went at 79l 49, cash Erie declined from
morning prices and Reading y cent. Southern also
declined another fraction. Gaena, Michigan Central
Toledo and La Crosse shared in the general depression
The Bond movement continues active but prices have
svmpathzed little with the share list. Missouri Is
which keep the lead in specuativ nents declined
from morning prices. Michigan Central new loan
bonds have been in demand during the day, and show
An Improvement. After the Board there were large
sales of Rock Island at g. but the market cleared
of stock at the quotations. and sales up TO 6Sl were
afterward made AT the close of business the bidding
prices were for Erie, 20 Reading, 81 New
York Central, 79l; Michigan Southern, 20;
Rock Island, 6Si; Missouri Us, s3., &c. The
explanation of the days decline is ex-
tremely simple the market following those natural
laws of sock operation. which prescribe that rapid
advances must be followed by partial decline even
in generally rising movement. The steam is gene
rated little faster than the market bear it, and
consequently reaction ensues. In the present in.
stance, taking the state of the Money market into
view, il will not be unlikely tina: upward movements
will be resumed again within day or two as vigorously
before.
The supply of exchange the market was not large
to-day, and nearly all the first class bills found pur
chesers at full rates. The range for sterling was 1850
io9S, with good commercial signatures at looelOsi,
and Bank bills at 1857 100. Sight sterling sold at
ilIalllI. Francs We're steady and not very active.
fre'ghts are rather active but rates arc essen
italy unchanged. The engagements TO Liverpool are
500 bbs. Flour at Is. lOd. D.; 10000 bush. Grain
at ID; l,oOo bales Cotton at 3l6d 100 boxes Bacon
2us. 4V0 boxes Cheese at 25s. To London 500 bbls.
Flour at Is. 3D. 30 tcs Beef at 6s 500 boxes Cheese
at 3os. To Glasgow 10 900 bush Corn at ID in ship
pers bags. To Rotterdam 200 bales Cotton at &C. To
Bremen 10 hhds Tobacco at 27s. Cd A brig 0tuns
from Bucksyille, s. c., to New.York. with saved
lumber at So One of 30 tuns from st. Mary's with
lumber to Trinidad, a, ell.
The business of the Sub-Treasary was. Receipts.
sl6,oS o.; nom Customs, $93 600; Payments,
&l72, Be- %; Balance, s, 905 5il &c.