The Cleveland leader. [volume] (Cleveland [Ohio]) 1865-1865, 1865-08-18
Special Report.
NEW YORK, August Il


! - FINANCIAL.
There was more tone and frmness at the
Stock Exchange this morning. On rail.
roads the prices were All better, with more
demand for stocks. After call there was
further Improvement but the market de-
elined toward the middle of the day. Il
broke down at the second board under
various rumors, and there was a perfect
rush to sell stock. At the last board the
market recovered somewhat and was
limited fer stock. There are plenty Of
sellers on every rally. After the board the
market was better on the street.
Government securities steady and 7-s0
notes rose to 80.
State bonds were quiet but frmer.
Miscellaneous and coal shares generally
stronger. u fs
Gold frmer to-day in consequence ofthe
export demand. There is very little
speculation.
Money easier to-day to first class houses
with undoubted collateral.
PETROLEUM. -.
Petroleum stocks dull, with sales at the
following rates;
Pithole, 775; United States 2,43O ;
Webster, 235; Montsna, $50; Empire
City, 75.
Petroleum steady at S2l, with light sales.
Bonded and free are without change.
KETCHUM FRAUDS.
Theexcitemsnts arising out the KeIchum
frauds has very much abated, and affairs
appear to be returning to their former
condition. ---...
"A card appeared this morning contain
ing the following in answer to some pub
lished charges: It is not true that we hSve
ever engaged in excessive speculation in
stock or gold, or made any heavy losses
thereby. We had nothing to do with the
recent upward movement of gold, beyond
owing very moderate amount not in
creased sufficiently to supply the wants Of
our shsrt customers. We have not been
recently or ever borrowers of money, and
consequently have not had to provide mar.
gins in loans, either in the ordinary way or
by dishonest practices.
We have had no stock gold under Aypo-
thecation, but on the contrary have always
been large lenders of money upon various
securities dealt in on the street. Owing to
the frequent absence from town of Mr..
Graham, we ceased to give him orders in
February last, and have not since that time
employed in any manner the services Of
himself or his. firm. Our suspension was
brought about solely by the unhappy
speculations, and frauds upon US resulting
therefrom, of one who, however unworthy
he may have proved, commanded, 50 far as
we are informed, the confidence of all who
knew him. Respectfully
KETCHUM, Son s. Co.
So firm has been the conviction of the
whole street that Graham & Co. have
acted until now as agents of Ketchum s.
Co. that even this formal assertion to the
contrary is not fully credited. The whole
tenor of the esrd is SO opposed TO what has
been generally believed respecting the
operations Of the firm that its effect tends to
mysiify rather than to explain these
strange developments. Many parties pos
itively assert that several statements in
the card are false. The card was evidently
intended for New England and has sppar-
emily destroyed what little sympathy there
was for Morris Ketchum.
Some brokers believe the flight of young
Ketchum was pre-arrsnged with other
members of,ihe firm. There is great an1-
iety TO know~the full developments. Wall
street abOunded in rumors to day. The
Connecticut banks were reported in q