The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-09-01
FINANCIAL AND coMMERc GAL.


"WEDNESDAY, August 31-SP.r
-. .~s,s...ant On the Stock Exchange stn O. nt,nnas
- ma .rke has been feverisn oil day =, ~. oo.n.
~ Of the nrss ard was annou ace6 MAI ono q tho
members who had failed to make his deliveries Yesterday
would pay his losses in full d parties having s.ook
% rom MIN were requ aAd 10 purchase Il for his
account Tais was deemed sstsfsctory and the member
IN question was Immediately restored 70 his seal. Toe
eject toe purcnssee thus authorized partial &C.
vance In prices, which, owever Was lost immediately
after the beard. Between tho boards failure Of
another bear house announced; the house asserts
that Ito business was IT cy commission and that IL
was compelled TO W4spend BY the un~illngaess OF
oieDtrepresented as responsbe-to pay up hs Losses
xne amount reqn to carry this house thrsrghs men
noaed At sa6T0 In the afternoon the market was un.
settled some stocks were rather stronger the general
Zone was uns asy AMI feverish
The far.res wb ich have occurred en- the Stock Elk.
snspgo thin the past few days demand some passing
comment The five houses which have lately defanlted
on their oonrac distinguished for more than
agar for the Soidnoss perrpacy aud the success
their a'tac upon all Of securities, from State
son0s 70 raj way stocks They began ID sell stocks after
me rise february, 1858, when the leading speculative
socfs Of ne dsy-to wit, New York Central, GAlens
MOCK law nd Toledo, Pacific Mali, Achigan Central, Mcni
gan GU Tanteed, &c-wer 90 average SIS share
hsner than they Ey skifuly awaiting themselves
vac general depression By the failure tue West
sop of 1885, and the stasnation in trade resulting
the crts these operators succeeded in agsravasicR
sns existing OF and prejudice against stock secu
IN Ses 70 sue exters that daret 10 bog stocks
~ many who hello them terrified into selling
linus The rice gradually caused TO rccede UNTIL a.
- said which were worth SO II the commence
nsnt Of TINS crusade not worth over $50 nov, and
shares u lat worth $50 are only worth s25 man
Who sioc 900 in railway property when these
spsrav cosamenoed their campaign, nov fortunate
~ sorth S7oooo An aggregate amount Of property
then WORTH Fcrteps, the market price, $3.50 900
eeD BY tho operations Of these parties, reduced 70
@e Of si7scoo 600 or ooo and the genera
0es Of railway and other public companies has been.
pa Sofs tonstey injured.
sacnevAg this result these parties made prodt which
ne aesregss may perhaps, amount $3.50 600 Vie we'd
conjunction with this fact failure appears ~
-. Having persistent and enormous sellers
stocks our ng period which Of S2o
snare 10 ths stocks in which they dealt, odd 70 say
ne least, tha 80 81 share shoud break them
me crcamss readily accounted for In the case Of
me member readmisted TO the board TO day and
whose intes rty s stainless. But Stock Exchange
ewes sell TO ook closely the SUSPENSIONS Of the
esnef Dear who have lately broken Mr.. Brown has
mace no fer az set 70 his creditors.
Anone circumstance which deserves netice connec
these events, the exceedingly slender basis upon
snscn nese speculasors have been dong business We
nave iad occasion than the
s0o" at Of the transactions Of youDg houses small
esp~ Ah; the event confirms views rne house
,sd to-day declares that vanse no more than
nP ~ all its losses yet this very house which
0e morning startled the street by selling
~ 20 shares Of Central OF shall be told
- At bis wac . ssie on commission. But whs. shau be
10 Of house which opera 70 such extent for s
aen,s without exscting adequate margns The
the past fortnight place OF the bear houses
nDp'essant dilemma: either they have money, and in
case they oughs TO Pay their losgs, they have
money, sDs in height OF dishonesty
opsrase soowmg thst they could not pay they oet.
There ~as advance in State stocks 70 day. causct
partly 81 orders from outside partly by purchases
cAnsed by yesterdays failures. New YORK Central
Ne meet active or the speculative rtocks opened q
76x, sold up to II, decloed to 75z and then rallied
essas in the afternoon Vt 15X bid Gaena also
I'VE. ciosing o91s Rock Island freely
NE rise, and closed 81 bid Toledo oversupplied
declined 70 24k ~ the cIuec. Hnn-Y-
KEN s,oot their ground better than the Western stocks
1aey coeed about the az yesterday Soutner
guaranteed cold as low az 2zt at ono tiG,e
bat ra,i,ed 70 rs at the close. The prevail
Ing impression appears TO be that tn
fai,ue many bears will deprive the market OF e
ssssp element Of strength, and that for day or w
stocks may e1pected be dull, and perhaps decin
Tract Areschon is anxiously looked for by many
who W, late 70 participate the late upward move
nept The following the last prices Of the day
Atesouri 6's, sax Ak Canton, l7A 1917; Cumberland
Goal pref rred, lax IS; Pacific Mai SO II New Yorh
Central bA Ii Ere, AZ 5; Hudson River, 34al 35
BArism, Va u; Reading, 43A IA h'chigau Central
ssM u; Michigan Southern, "a "a; do. guaranteed
Is u, ,snsma, III u; Illinois Central, 6sss 81
6aeps Chicago. eeh ", Cleveland and Toledo 24
Az; Cbicst 20 and Roek Island, 67ak
Money rpues very essy. the rate call Ia nov
Abeu,s4 pr cent Mercantile paper continues yer.
sosrce, and FOOD paper il in demand at discoun
Asoses cent In exchange there .s nothing doos
mo ay took only slo2,450 Some gold will &
10 the 3orussA, and probably half 10 three
quarters Of million on Saturday.
The chan at the Bank Clearing House this mornin
vvre SIC LOG, B49 SO, and the balances 1894 $40.
me City Comptroller OF Detroit given notice that tn
Gob ms Of city will be redeemed tomsrros
lM tue Metropolitan Bank 10 this city
"A po.ss ssaed September l, 1889, and numbered
Ito 81. ,ncusive, each $500. ........&43 900 OF
IA 20, ,ss1ed April /, ls4l, and numbered from
"a 200, and from 70 TO- inclusive, eacn
5o0.s OBSERVATION-DISCLOSURES. 1900 On
To- al. ,VVo w
III. OF the Sub Treasury 70 day was as fol
sows;--
Tos> "a &c ph. Sal ,2o1 AZ
For 81 0Ess l2T SOS QC
eussl pS d en3.. 1854 ~
Balance. ,st4 81
Stock exchange.