New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-09-01
COM-NERCIAL MATTERS.

WEDNESDAY, Aug 3l-P.M VI.
There was very large business tran acted at the
First Board and during the early part OF the session
the market wa quite steady, but when the Western
shares were called there were symptoms 0: areaction
in prices which could not be disguised, and the tone
of the market changed ct once. On the second cal
there was strong dspcstioa to sell, and notwith-
standing the support Of several leading operators who
had aIge orders on time, quotations gave way grad
uslly ard the waole maiket closed heavy. between
the Boards tie decline continued, and at one time
New.Yoik Central sold down low es 49, while for
Galeps, Rock Island and Southern guarantee ed prices
we're also lower. Before the Afternoon session the
failure Of another bear house was announced and the
excitemen. in The street received fresh fuel TO keep
IN the flame Tie default in this instance, is mainly
sci bed to short sales OF Rock Island in which there
has be- .eajy AMI almost uninterrupted advance.
TIE fsilure was rather unexpected a. the opel
atoms OF the house a. the Board of late had
spparenty beer with The tide. The temporary
fleet OF these large failures is TO drive the
parties 10 whom the contracts ran, into tue msket TO
cover the deficiencies; bat this over, and the infu'
e1ee is for time pIejudical TO the bull interest,
settling a. the failures 30 large line OF contracts,
without purchase or the part of tie insolvents.
The line of stocks settled up thus suddenly and easily,
within two days, Is ya.ousy estimated at from 3OoW
N 40 600 shares The rise Of the last iJrtnight nag
been az much due 20 these large oyersass IS anything
Else AMI the market MIST Tor time at leest feel the
los OF the support wbica such arse short interest
hos CONSTANTLY given 10 the market. Some OF the
Iarges. orsrators az the Board, apprehensive of
reeo in TIE market such rapid and rdi.crini-
nate advances have been quietly selling out for sew
.ral days bu, the current OF speculation is increased
30 much in volume, from the larger interest taken in
the movements by The public, the; but little impress
sion has been made. Tae outside purchases, how
ever, have been mostly OF time, and DO not cohse-
qusntly finnish very 1yssianta basis ior faFtner
inproy enent, unless cash purchases are presently
renewed. Tie reaction OF to-day, although precipi-
tstei 70 some extent by the failures alluded to, has
been expected or several LAY! at the Board even oy
the operators for s RE, and Is whoes )me
check 70 speculative movements which were
becoming too feyei-h TO last. AZ the First Board
the DEALINGS L New.iork Central were very large,
euh,aerg transactions 20 tue extent 81 more tran
sO.o shares. Tie opening piiee was 'o., from
vbch n. quotations run up 70 20. 90 the hIst eau.
Later il the session, however,, t1e make. was fed
by fresh supplies ef cash stock and the buyers hav.
;rc been vel tiled up il the execution Of orders,
prices fell of 20 76 81 which tue market closed NJ
tie heavy. Reading went DOWN TO lit on Small SAFES
an hal but slight support from any quarter. haa'
son River and Harlem Preferred were both tr'iie
lower, but were not prominent II me move
men,s oi tue day. The August earnings O. Tie
Harlem River promise to show hAhdSonie
,rcreas, over those Of the corresponding moth Of
last year e. mated as high from sls "o to so Vo
Tie Western shares were lower alter tie hfs' ssles
with ,csr.ely an eIceT.o1, snd wevs quite assvy a