New-York daily tribune., 1866-04-06
IoARD OF BIoKERs-3i Pm.
N. Y. Central. lCleve. & Pits.
THURSDAY, April IP. N.


Gold closes at l27i al2S. Among the resources
of the Treasury is surplus of specie which can
and should be promptly sold in view of the rate Of
European Exchange which allows gold to be i'm
ported at profit. Ten millions could be sold to
advantage and the Treasury stll control more coin
than will be required for interest up to November
A large premium will not be had on future sales,
and I20 would be touched before as small an
amount as ten millions found permanent resting
place.
Government Stocks arc lower, and not in de-
mand at quotations nor could largo sales be made
except at a concession. State Stocks and Railway
Mortgages are inactive, andlttle doing in the mis-
cellaneous list Bank Stocks are firm, and for
First National 2l0 is offered. The share market is
unsettled, .but was upon the whole steady under
the movements of Michigan Southern. Erie
was steady at 73i S73a, at the close. The annual
report is not yet ready, and 1t gives no facts be-
yond January I. The bills payable Of the Com
pany are stated at s2,6Oo,OOO, to ssy nothing of
arrears on pay-rolls and open accounts. The cost
Of the property is now up TO $62, 900 OOO and the
annual report should not see the light until the
President can prepare postscript, such as he
gave last year, showing the present con-
dition and obligations of the corporation-
The Stock Exchange was the scene Of unusual ex-
citement to-day, growing out of the speculation in
Michigan Southern. II appears that some time
since Messrs David Grocsbcck g. Co. borrowed Of
Messrs. Scott, Capron g. Co. two thousand shares
of stock which was sold it is stated for account Of
Mr. Daniel Drew. To-day the return of tho stock
was demanded, and Messrs. Groesbeck g. Co. no.
titled that, failing to deliver it, it would be bought
in ifor itheir account, under the rule. Mr.. Drew,
on the other hand, took another and different
course. Instead of promptly responding to his
contract through his broker as he never fails 70 in
sist shall be done, when difference is due him. ro-
sorted to Judge McCunn, who granted temporary
injunction against Messrs. Scott, Capron e. Co..
and the President Of the Stock Exchange, or either
Of them, restraining them from buying in the stock
for his account. At the Second Board, the question
was raised whether the stock could be bought under
the rule, an injunction having been served.
= r. L. Cutting, esq, President of the Board, then
made statement that papers purporting to be an
injunction had been served upon Scott, Capon e.
Co.. but that he held sn order to buy for Groesbsck
e. Co., $500 shares of Michigan Southern
or his account, which was done at ssi for the lot
BY leading house In william.st., who offered
early in the day TO supply Mr.. Drew with stock ct
fair price. The course of Messrs. Grocsbeck g. Co.
In this Transaction was unanimously approved The
simple statement that Mr.. Drew resorted to the
Courts to escape dilemma In which he has so
often placed his opponents needs no comment.
Hisprofts in the past have been made secure by
the Obligations Of homer, which the Stock
Exchange maintain 10 q degree not surpassed