The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-01-14
FINANCIAL AND CONNER GAL.

~-~-~>~~~~~A--~-~~~~~~> -
SATURDAY Jan. 1876 p. N.
The stock market opened with steader tone ,this
morning. and the semipanclike feeling which has pre-
vailed less throughout the week TO great extent
subsidized the early session Of the open board New
York Central sold 49, Erie So Reading l0lA, Michigan
southern o7,f Cleveland and Pittsburg 75ls, Rock
Island Is 8, 1881. Northwestern 3lz, preferred SIX,
Fort wayne s4I. Ohio and Mississippi certl-
ncates 26H Mariposa preferred 10, schuylkill
Coal s3 14S. Al the first regular board
New Central closed higher than at the half past
two board yesterday Michigan Southern "a, Cleveland
ana Pittsburg 4, Northwestern ~ preferred 1s
Fort Wayne Il, Cumberland Il, Canton 4. Erie was
per cent lower Reading u, Rock Island n Ohio and
Mississippi certificates u, Quicksilver ~ Government
securities were firm. Coupon 6ye-twenes of the third
seres advanced u, seventhirty notes of the second
series T. Coupon ten forties were Il lower.
At the open board at o'clock the market
steady. New York Central sold at s31, Erie 900,
Hudson River l04A, Reading 1917, Michigan
southern a. 81 6sS, Cleveland and Pittsburg 1873, Rock
Island loSx, Northwestern slJs At the halfpast two
O'Clock board New York Central closed y higher than at
the nsst regular board Erie x. Reading q, Michigan
Southern Cleveland and Httsburg y, Rock Island H.
Fort wayne ~ Ohio and Mississippi certificates x Gov
sfnnsnt securities were steady.
Al the open board at half.past three prices were
cnctiea higher. Erie sold at ok ~ New York Gen.
trail 0sx, hiohgan Southern osI Reading e. s, l021S,
Cleveland and Toledo LOT, Cleveland and Rittsburg 71x
Rock Island 1885, Northwestern 32x, preferred 80,
Fort Wayne o. Mariposa 131s, Schuylkill Coal l5x.
Afterwards. the street. the market continued firm,
and at half past FIVE O'Clock Erie quoted at 9lx
Michigan Southern e91I u, New York Central %,
Cleveland and Pttsburg Tx IS, Reading 1928 l03
Northwestern 50 a u, preferred 5SHax.
The reported failure Of stock frm yeste rday Is the
subject of good joke the street to-day appears
that the firm in question had become OF combina-
ton to buy Erie when IL about o. the faith of the
other parties In the transaction being pledged
that they not TO sell any OF their
stock within certain limits. II discovered,
however, that the principal member Of the pool, who
advised the operation, seller and of his stock
into the hands Of the firm whose failure was re-
ported through disnterested broker The latter de-
lvered the stock and received uncerted check for
about hundred and sixty thousand dollars in payment
This check was handed bodily to the principal in the
SALE who endorsed it and paid II into his bankers The
drawers Of the check however, Withdrew Their funds
from the bank. and it was refused payment Here
upon the holder Of the check communicated
with the drawers up town and threatened them with
criminal proceedings unless thay returned the Erie de
iivered to them. This they refused 10 do unless the
holder Of the clfeck willing take it from then
the price they paid for their Erie his advice, ia
which event they would honor their check and IL is
derstood that upon this basis the matter settled
The affair looked upon piece OF sharp practice
both Sides but the sympahies OF the street entirely
IN favor Of the drawers of the check
The change In the temper Of the market, however,
will probably defeat the hopes Of the persistent bears for
the present and make hazardous TO sell shcrt."
Nearly every stock the list still largely oversold
although there has been good deal Of covering among
the prudent operators yesterday and day, aud
the Dull ranks have materially recruited from the
bear side.
The gold market steady, and loans generally
made at four per cent per day in favor Of the lender
The opening price 1875 followed by advance Of
Y and relapse OK after which IL closed at 1904 r.
Foreign exchange was inactive at yesterdays rates.
Leading asked 1851 100 for their sixty days
bills on England The shipment Of specie by this day.
steamers aggregated $685. go, OF which the Hermann
took $2l2 2e0 and the City Of London Sl6l 900 The
import movement continues moderately light, the value
OF the importatons last week having been SASH 7s0
Petroleum stocks active at the first board. Lib
erty closed at 49,, New York aud Newark 25c, Shade
Rive ~ 90 Pithole Consolidated 90 80, New York and
Allegheny 81 IS, Ivanhoc 81 90 venango and Plthoe
Is So BennehoG Run $40 20. Buchanan Farm Toe.
Bradley &c., Brevoort 81, Empire City 35c Empire and
Phoie ~ OS Oceanic t5c., New York, Philadelphia and
Baltimore 90c, Palmer "a 0s. Pithoe Creek 1l2 70,
Webster 81 80, Denton Mining Company Csc, Corydcn
81 TO- Gunneli Gold 81 Is, waveriey Company - TO-
During the year 1885 the Bank Of England altered is
- fs.Il,