The New York herald., 1869-09-18
FINANCIAL AND COMMERCIAL.


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FRIDAY. seps. 17-SP N.
The features Of interest were again centred to-day
In the stock Market and the movement was to still
lower ngures The Long Room throughout the
hours Of business was scene OF the greatest ami
nation and excitement the brokers swarming
together In close mass watching the varying nuctu'
ations. which went up and down with the greatest
rapidity, but down oftener than they went up, SO
that the day closed upon another triumph for the
"bearn cnques The movement which has thus
carried down the list originated In the quarrel OF
the Lake Shore and New York Central cliques.
When the Lake Shore party and the Vanderbilt party
were negotiating for consolidation the former, as
win be remembered. played false to the Central
scheme and made an alliance with Erie. The veteran
Commodore Is an unrelenting enemy. He bided his
time. He waited until the Lake Shore party were
loaded up with stock in furtherance OF their plan Of
acontinuation to New York by third rail over the
Erie road. He started the ball week ago last Monday
by throwing overheard all the Lake Shore stock held
by the Central Company. The result was "break"
Of nve to six per cent This SO staggered the market
that the professional operators went short and
hammered the general list, the cliques In North
western and st. Paul also aiding the decline by SELL
Ing the STOCK which they had bought to control the
late elections. Pacific Mail in the miscellaneous list
was easily susceptible OF q "bear' movement, and
and ran throughout the list. The only shares in the
active List which have at all resisted the
decline are Chicago and Alton. Erie and Western
Union. Ohio held out until to-day, and then gave
way. The Vanderbilt stocks easily brought out
OF the hands Of weak holders The usual margins
have been wiped out. anu report said this afternoon
that several failures were to follow where stock
houses had taken the risk Of doing business below the
regular figure. The market has been "bear market'
for now nearly Two weeks. There was Q reaction
this afternoon on the expectation that prices had
touched bottom. Indeed, the feeling just before
the last board had greatly changed, and sun
shine was breaking through the riffs In the clouds
- II the storm were over; but 1t was only prelimi
nary to heavier outburst The "bears" came in at
the top of the reaction and again showered the
ket with stocks 1t Is useless to attempt to assign
any other reason for the decline than the harmony
OF the principal cliques in 'bear" movement. Did
" suit their purposes stocks could have gone up In
stead Of down, SO far as natural influences are con-
cerned. Thus the money market was not stringent.
1t was fairly active at seven per cent and gold
interest was paid In some Instances; but
there Is no activity sufficient to force the
sale Of stocks. Much as the market has gone OF
the natural 'bus' are afraid or disincned to buy,
and 30 the situation was feversh and heavy to the
end Of business this evening. The following were
the closing prices at the last session Of the Stock
Exchange:-Canton, SO bid; Cumberland 81 bid;
Western Union 3eX 81; Quicksilver, 1s1s . lax;
Mariposa, OK 10; Marlposa preferred, 15H II;
Pacific Mall TAX 72h; Boston Water Power, IA
1ok; Adams Express, 6eH 57 Wells.Fargo Elk.
press, 18K q 19H; American Express, 37H 371S;
United States Express, 61s 62'f; Merchants Union
Express 10 bid; New York Central 1oo% a 200;
Erie, 80 a9H; do. preferred 90 10; Hudson River.
1soX a lsOX; Harlem, lso1G ISL; Reading, e5H a
p5x; Michigan Central, 1884; Lake Shore, 9Sx q
ssA; Illinois Central l37 1917; Cleveland and
Pittsburg 1919 1O7%; Chicago and Northwest
ern, 787S II; do preferred, s67s a 81;
Cleveland, Columbus and Cincinnati. II 7SH;
Rock Island, 11114 1112S; Milwaukee and st. Paul,
TsX 1874; DO. preferred, saH o s3h; Toledo and
Wabash II bid; do. preferred, so bid; Fort Wayne,
SIX SIX; Alton and Terre Haute, 81 bid; Ohio and
Mississippi s11S = 312; New Jersey Central, 1917;
Chicago and Alton. 150 bid; HannbM and St. Joseph.
115 12O do. preferred, 119; Columbus, Chicago and
Indiana Central, 3o The following shows the range
Of the principal stocks to-day