The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-11-17
FINANCIAL AND copsMeNo,AL.

NS>Sxy, Wv. H. n. i
me stock mssksl opened sssA ssas Of DssssisasAis
pssnips, but sssy In u. aftsvssos thee we've Ais
pAssd by another Aavsss turn ~ Speculation fss fA.
There sson to sapposs tbas The socailsd ball esuss
ere s Cooperating wish the hears TO sxssns bet
only fcf the purpose Of twisting che later ths
severely when they have been drawn sa1cisns,y into
the bull snare The whole Of the decline sho-
Il 20 have been the result Of speculative csuss-
there 10 no doubt that when tho bull ciiquss ana
50 they can jerk ther favoyr.,e 90
high az they please, ,hs nSrkE -
aannasf ,asir c2ntrol and 10 ~. ssns s'n
Of 'hsir own susns'n sn.s makes them 30 solci.oux
= ~. 800, ,..,,na rnsr. ><eas ana indinsEsrt
49,. 49, nosn a,,a hn- ~ YsAson 70 believe that
- ....r. d oan,s.s ssn on short buyers options,
..ons =, xh,ch !, ths market on short sellers OPP
,na son,ss ar -Asy are placed In position 70
$500 fTfcss ut any moment In other words,
49, been sne greatest bears the MARKET has lattery
l. >contend against And II they perssvsrs much
ser IN tlssr perous tactics they may find that like
sAultng ambition they have ovslsapsd their mark and
COME out the other s.de The natural conditions Of
the market favorable rse and the artificial do
preston 10 which now being subjected win only In
tsnsify Abe rebound which must take place
The bears. ana the bulls operating with them, havs
been circulating false asdn to-day respsony
the intentions and doings OF the Secretary Of tae
Treasury mrs needless to ssy that IL matters verS little
what Mr. MOCulloch msy say In his forthcoming report
He hiss been talking OF contraction so long w there
has not only been coKracsion, but positive Imitation,
that Asesae ofsropsatca CRY Of wolf when tese Is
WOLF hs words have lest their power for either good
evil But his worst eaemes-the beArsassayn to him
| acts and motives which obviously do him in
| ,ustce We have 'ofic,a authority for saying thu,
he has neither cancelled has any inteution OF
ceiling legal .erdeg notes In OF The authority
conferred upon hin by Congress- and that be holds o
reserve Of ffty millions OF grceabacks at Warrington
with which 20 rceem the remaining portion Of the te
posaiy deposits known Clearing Kouse certificates
OF these, sboa. FIVE millions held By the banks q 4h@s
city have been redeemed, while twenty millions remain
sti In ihea bands, available for UeaTlng House pur-
poses rvessecreary has, furhsrnore intsa6isn to
ear for Misrepresentation Of these for payment; us in
the sf the holders demanding payment hasYtsnd
| Ing OF nity millions enables him 70 meet them
With f1cy and without in the beast affecting Sgxonrse
Of the Ineaey market which the desire df The
vernsnent TO keep easy, with xRc view OF tmartng
buoysne s0ne TO Its securities
Money abundant supply 1t I'VE per cent to first
class Stock houses and II four two lead
ing dealers in government securses, but weak specu-
lssv6 houses some Instances submitted to six,
which the banks anxious TO raise sho 1rate The
aiscSaDt line quiet ana there change IN the
for the grade cf commercial paper. Both
1 anu WostoSu uoiuy WhIkoko IL th0
position last reported the tendency In the former being
towards greater ease wAAe In the Atterth Is still,
plethora Of capital seeking employment In the fare OF
seoh condition Of monetary aairs here sHnd ali
enc country it 10 clear that the present raid the
railway share market must prove 10 be- bat
very Temporary, and xtsat The decline will lead
-tsso greater rso than wsaid have been
4 otherwise possible Fam up the fewing waters
may srey win ,~.sr lsuss forth and
engulf those who oppose their progress The presehs
holders Of win therefore hettes keep them
than 10 fall isc tho trap " Brighten thsD II ty
DO sell they viii probably begin regret before Monday
night inst they way resy 70 their fears. and n
ID by exciting the fosrs Of the majority that the minority
In Wall street make fortunes Tho entire railway share
market will be higher In ell rrchabity, ossore the year.
perhaps tho menth Is c-fi than ~ has been since
March, 1884, and theee who calculate In the opposite
direction viii npd thsnselvesmost ssrcgsousy msaken
all the arguments Of che bulls and bears In Wall etree
| inst now 10 the contrary Notwithstanding
Al tho ten o'clock open6oard tho railway shars
ket very arm, and moderately active Erie soldLe
1914 a y, Michigan Southern soxs y, Northwestern
49,. q e, Northwestern preferred Is NJ. Az the fret
regular bosrd 10 generally steady, and the
uons large but the steamship phs,es weak.
Aslsntic Nal, declined 10 1905 against aook yesterday,
mainly in Consequence Of sbe insvhioh the
directors o. The esnpsay eed ,n cioans their oncs
election day, also 10 apprehension that tlo four
million, ~ n.r a..s NAV =. sa., ,r ,,,r ,,a ,,.,s.,
| nssors y.,ua,v ns,, Nsv VOW rsr,..,. e,o.aa y
I higher Tho, !, en-. ammo Tin. v.s,.rs.v Va. -
Reading - M,cb,,sn sou,h.r, :. In,no,. c.n,,s, =,
Cleveland and r.s,a6s ~. For, wsv.s ~ nn,o
x,s.isrsop ssrtse.tes,,. c,evs.ua and r,,bur, ma.
lower, Northwestern ~ Northwestern Srefsrred eS.
Pacific Mall az Atlantic Ns, e.., Quicksilver e. Gov.
Of 1ssa lsss sho,ed aoc.s ~ a. ~, .,or,s.s !.
/ ,,,sn shI,ty mole, :, ,he seaena s.5., ~
femme. ,ee sizes wore !. lowe, Aver the chi, the
e, ~ss,vscrons,, ,,n,ssr.d and ps,es. de.,nsd I'm,
| - ~. ~. a,.,o.,, -. A. -. -. - - 49,,