The New York herald., 1868-01-07
FINANCIAL AND CONNER GAL,
MONDAY, Jan. Go p. n.

the extreme range was from 134x to 1857, with the
clssng transactions prior 10 the adjournment Of the
board as 1851, following which sales were made at
1857, the latest quotation being 1857 l35x. There
was very active borrowing demand for coin, and, not
wks,andng the large floating supply, loans were made
without interest and at Lea per cent per diem In favor
or the lender after rates varying from ono TO six per
cent had been paid for carrying. The volume OF bus-
ness was unusually large, and the gross csearinss
amounted to $50 GEO. the gold balances TO eis
and the currency balances $s,o3elss. Tho imports
Of specie port week aggregated $lso $780, The
total amount OF gold certificates issued by the Sub
Treasury up Saturday evening Ii $2a2 733 $50, OF
which sos 57S 900 have been redeemed, leaving
$34. l55,660 outstanding. There was apparently no
special the advance but the natural reaction
from extreme depression stimulated by purchases
..shorl" contracts and tke market is still
largely oversold, white, view Of the financial sua-
ton and the prospects Of tae country the premium s
by means high.
The stock market has been, the whole, strong,
although break Rock Island which carried il tenn.
porary below g. caused an unsettled fec.ing 10 prevG
about noon bu. this was succeeded by return of
confidence and a complete recovery of prices The de-
cline in question caused by report, which proved
true injunction had been issued by Judge CaFdozo
OF the Supreme Court on the application OF Messrs Fisk
Belden stock brokers' restraining the directors Of the
Chicago and Rock Island Railway Company from allow
ing any portion Of the 900 OF the stock to
be transferred on the books and from parting with
any Of the proceeds of the sale Of the new stock.
The defendants TO show the 18th inst why
the Injunction should not be continued until judgment
is rendered in the action The discredabe stockjob
bng in which the stock referred to issued
calls for investigation the part OF tho stockholders
and fun explanation from the directors and 1t Is TO be
hoped that the latter. and Mr.. David Dows and Mr..
Tracy In particular will not shrink from their duty in
this particular. The following is the text Of the njunc
tion referred to:-
Supreme Cour.-James Fisk, Jr., William Belden and
Pacific Railroad Company, John =. Tracy, Charles W.
Durant Thomas P. sturges David Dows, David Craw-
Charick, Robert A. Forsyth, Ebenezer Cook, and N b.
Curtis and Clark Durant 1t appearing to my satisfac
ton by the aidavits of William Belden and James Fisk
Jr that sufficient grounds for injunction exist, do
hereby order that the defendants above named and
each Of them refrain from allowing transfer upon
the books OF the Chicago. Rock Island and Pacific
Railroad Company OF any shares or instruments
purporung to be certificates of shares in the tapal
ninetytwo thousand shares Of tho said stock at
the organization OF the said company and from parting
with any Of the proceeds of the certificates purportng
10 represent new stock OF tho said company in excess
of the ninetytwo thousand shares originally issued and
from paying out any money Of the said company for
on account OF the said issue CT ock until the de-
cision OF the motion TO continue th 8 Injunction.
And let the defendants show cause at a special
Hall, in the city of Now York, Monday the 18th Of
January, 1868, why this injunction should not be con-
tnued until judgment is rendered in this action
ALBERT CARD0Z0, j. s. G.
New York, Jan. g. 1868.
The bull element decidedly In the ascendant on the
Stock Exchange and the tendency OF prices upward
Speculation for rise is stimulated by the abundance Of
money and the prospect Of still greater ease, and
while all The principal stock houses and leading pro-
fossioDa operators the bull side Of the market
bcnr otivoly foxv nd tpact Tna
Of the strength Of the market for railway shares
s to be found in the large earnings Of the railways
during tho past year, the average having been
equal 70 than . hundred and seventy dol
lars per mile greater than in 1885, convincing
proof that the sagna,ion which pravaled in trado
did not extend TO them Now that 1t is accepted
almost certain that there will be further
ton Of the currency, confidence in values OF all kinds
is growing and the the Senate takes conclusive
action upon this subject by passing the House anticon-
traction bill the better for the country at large The
supply OF capital offering call abundant six and
seven per cent, with most of the transacons at the
lower rate, while first class commercial paper OF which
the supply is limited passes at q s per cent
The action Of the Board Of Brokers on Satur.
day respecting Messrs. Lockwood Il Co., to
which referred yesterday, has excited con-
siderable comment in tho street, an1 the
proceeding Of the board ID regarded as not
only extremely arbitrary, but illegal. As We ex-
planned. Mr.. Willston B. Lockwood, member OF the
open board, admitted member OF his fathers firm
the is OF tho present month and the board have de-
clared the Mr. lie Grand Lockwood and Mr. Van
Buskrk forfeited In consequence the ground that the
firm in taking member of the open board partner.
ship violated the sxteth rule Of tho association which
reads as fo!iows:Any member OF this board uniting
with any other organization where stocks bonds &C.
dealt in who shall visit the where such deal
ing had, shall cease to be a member OF this board
Herein, 1t will bs observed. nothing whatever
s said against member OF the board
entering into partnership with member Of any other
organization, ye; the board has proceeded just as II
there had been and expelled rm that reflected credit
upon the association. Probably II Messrs Lockwood 4
Co. valued their connection with the regular board
they would legally the action OF the board; bu.
is the board itself will be the only loser by the
course il has pursued, which much OF old
fogyisn and injustice either TO respect or 10
insure ultimate success
The statement OF the associated banks OF thje city
for the week ending Saturday las, is Identical in
every respect with the ngures already published in this
column, the ioans showing increase Of $4s790l5,
the specie OF sl,752,645, the legal sender OF
sl4532e9 aud the deposits OF ss s575p5 while the cir
cuiaton has decreased So The OF the presen.
aud last previous statements follows:-
DEC. 2s. Jan
Loans. .s24s' 'saosi2 s2io. .s4l, ,ao7
specie, a9asis0o ssi9o 52I2!slt
deposits. ............. iIo,IIolsl l61O70, 7s8
Legal tenders 0o,6oL932 GILL, ,20l
1icMings...........s.. 44e, lsooJa 4s6,Z6o,3 30A
paatces.............. pa ls@s<o0o ts,Z0J, bI3
The Uptcd States Sub Treasurer in this city reports
to,day's business follows
Total receipts - OsS 7Is Total payments a. 400 l35