The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-11-25
FINANCIAL AND COMMERCIAL.


SATURDAY Nov. 24-6P. n
ina A ,ok market has lauguished to-day under the ex
hsusup OF the recent panic but a. railway snares
have fallen Into strong hands they have nrm under
tona ana hvA g for investment Withdrawing them
60 ~ y, considerable amounts The bull houses
~, s,o.,., mos, by the decline have been clearing
.v ~. act and repairing for action again, but it If
crohanlo ,hs, fur,her decline OF five per cent would
hona,sss, nros,rate few OF the most pretentous Of
their number and II is certain that the credit of several
commission houses which were CONSIDERED strong
week ago is permanently injured BY he exhibition OF
weakness they made within the last Two or three
days both at the banks and otherwise sohs OF their
stocks having been sold out by the latter where the
margins had run out while their checks we're refusd1
ccrti6catoa Apart from exceptions of this character
however the bull strength Of the market is fresh aud
vigorous and the largest blocks Of tho leading specua
tive shares are in strong hauds Even the banks
which were most conspicuous in putting the screw on
while the scare lasted now relaxing their grip
upon the purse they control and admit that the panic
"ss causeless so far as the money rke. influenced IT,
and that but for the distrust which prevailed the
STOCK Exchange there would have been distrust Of
borrowers and securities In bank parlors. The decline
IN stocks was boldly started by the bulls with the
view OF twisting tho .shorts," and they
deserved the fato they met by falling into their
own trap. They not content TO make
hay while the shone and thoy invited foul weather
such men would SOW the storm and renp the whirwiud
IN preference TO sailing before fair wind to hosptabe
shores; but the speculative bull houses, not doing
caring for commission in business, had made much
money by the rise which proceeded this grand fnsco
they prepared to stand heavy loss and they
borne the brunt of the reverse without ninchng II
only remains for them 10 perseverc and they
viii again become masters OF the stuat.on
while the bears will stink discounted Away. The lat.
ter thrive only upon DISTRESS they the vutues that
devour the carron OF dcfunct bulls they beasts OF
al omen and treacherous as Judas lscarot; they
would betray their friends, sacrifice principle and per
pe'rate tasehood, DESTROYING il necessary, millions OF
substance to secure fat morse for themselves They
are la fact the vampires or Wal street. the enemies OF
the national credit and the destroyers who per-
peualy lie in walt to victimizc and swallow up the
earnings of those OF tho outside pubic who venture
within the scope Of their serpentine embrace, con
sciously unconscionsy
Money was rather active carly this morning at per
cent for call loans with exceptions g. but the
close OF business the SUPPLY largely in of The
demand owing to banks and p,irai. lenders who had
been previously boarding, being willing to lend their
funds, under impression tina perfectly safe TO
do 80. There considerable speculation as to the
nature Of the bank statement, AID the general i'm
preston is that will be uplayordDe; that IL to say the
legal tender notes deposits and cans will show i'm
portsnt decrease, but still not great extent
the bears have tried to believe.
At tho ten O'Clock session o. the open stock board
Eric sold at 734 x, Michigan Southern 81 500,
Northwestern AZ a4l&--ptsfcsred 70sf e, New York
Central i10H a. A. The Grst -egular board there
we'll distributed volume Of businc s, and the specua
tive feeling frmer than seserdas, the general
opinion being that the drciiuc had exhausted ITSELF
New York Central closed "a higher than at the same
time yesterday Erie ~ Rcadins "a Michigan Central
J. Michigan Southern IL Illinois Central Il. Cleveland
and Pittburg az, Cleveland aud Toledo ~ Rock Island
=, Northwestern 2's, do preferred Ia, Fort Wayne x,
Chicago and Alton u, Ohio and Mississippi certificates
TX Pacific Mail g. Quick -ver AZ Cumberland Coal 2E,
Western Union Telegraph Ia. Government securities
we're firm Ten eortes showed advance OF Ia seven
thirty notes Il 49,
Az In. one O'Clock open board tho market without
material change. New York Central i09Z, Erie 72h
q, Reading ll27s l13, Toledo Wabash and Western
~. Michigan Southern 81 *, Illinois Central lls
TO- lO,, Cleveland and Pit,sbufg s4s.. Cleveland and
Toledo ia Rock Island lo31s ~ Northwestern 422s
b-preferred TX Il, Fort Wayne 1915 a =. Nil
waukee aud St. Paul preferred TO- Ohio and Mississippi
Certificates -, Western Union Telegraph 46Ts. After
wards the speculative feeling tame, and there was
only moderate business transacted tho market being
duh q, the following quotations at 0se oclock:-Ere
Uk e, New York Central no 4, Hudson 100,
Reading Il3 4, Michigan Southern slS u, Illinois
Central lI9 Cleveland and Pittsbnrg s4s a. q, Rock
Island I03h q 104, Northwestern AK 42-prefered
MAX, Fort Wayne 1oik x, Oh and Mississippi
certificates 2sH 20, Cumberland 6sI.
The gold market was steady. he open na quotation
having been 1897 and the closing one 1854 The OK
tremc prices the interval ias1s and 1892. 1t
rumorcd the government through its brokers has
been Ioaning and selling gold, but now order TO
arrest the speculative dccipe IL has induced, It IL
calling 10 loans The specio exports from this port
and Boston since the be- inning Of MAY thus shown