The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-01

Dealings also took place In the han OF the old
open board between members of the Stock Ex-
change, but were quite lmiteu in amount The
Weser, for Bremen had $4,000 in specie
Foreign exchange was without change in rates,
the market being still very dull.
Commercial paper is as yet hardly susceptible OF
quotation.
At the Stock Exchange this morning gold to the
amount OF nearly three millions was sold ''under
the rule" for the account OF members behindhand in
their contracts The transactions only formal,
however, and intended to obtain basis for settle
ment Further sales OF the same character, intended
TO reach firms connected with the bull side OF
the late gold speculation, were prevented by
m Injunction issued from the Supreme Court
restraining the Stock Exchange from selling under
the rule IN cases cited In the document. The details
OF these njunctions and OF all routine proceedings
In Wall street to-day given at length in another
column. The resolution Of the Gold Board 10 make
their own cearings ex Clearing House IS working
admirably In promoting settlements between the
parties TO the numerous contracts Of last
Friday, and the confusion is being gradually
removed At the same time the suspension OF
the rules as to penalties fs mutual protection, by
which the members hope to bridge the interval to
restoration OF good standing all round. That the
losses in some instances will be large so much SO
~ to compel the failure Of many firms, there is no
doubt but the present temporization will cause the
blow to fall less heavily. The fact Is the whole Gold
Room, by reason q the failure Of the brokers the
ppu side .S t. n.aae good their contracts Are
long OF gold. and the sums or which they
are so possessed must gradually pass from their
hands as Legitimate business demands It The taking
Of the gold at slow decline Will enable many to
Withstand the loss; but sharp decline, such az
would result from sale OF the whole amount under
the rule, would bankrupt nearly every member OF
the Exchange 1t is asserted that this is the reason
Smith, Could Martin Co. withhold their state
ment. They are 'longn OF six millions, which
they are willing to settle at 1876. Tonight PROPOSE
tion was made to accept an arrangement OF this
kind, the differences TO the actual 1gure being made
mp in checks, but there was no concerted action with
reference to IL on the part OF the other members OF
the board.
The government to-day sold one million OF dollars
gold the particulars or the transaction are given
In another column.
meeting OF the directors OF the Lake Shore Ran.
way Company will take place tomorrow, at which
Mr.. Legrand Lockwood will resign his position OF
treasurer In favor OF Mr.. James II. Banker, q
friend and the candidate OF Commodore
Vanderbilt. Some uneasness was felt this
morning lest the moneys OF the corporation
were involved with the losses Of Lockwood Co.,
particularly as the coupons OF the mortgage bonds
are payable tomorrow. Not only was there no
foundation for this apprehension, but the Lake
Shore Company stand indebted to Lockwood 4 Co.
for 100000 advanced upon 100000 OF Wabash
stock given collateras. The moneys OF the trea.
sury have been kept at Cleveland, from which
point 100000 arrived to-day to meet the
payment Of the coupons, and another similar
amount is en- route to the Bank or New York.
which is the agency for payment. The fact above
stated concerning Mr.. Banker confirms the report
that Commodore Vanderbilt has purchased large
Il not controlling interest In the Lake Shore road.
The amount required for the purchase OF the Lock
wood stock about 80, 600 000 half the which
Commodore Vanderbilt is said to have borrowed
yesterday OF the Messrs Barring Brothers, whom he
gave $1o,Oooooo OF Hudson River Railway shares at
par as collateral.
Government bonds felt the inspiring effect OF the
generally better feeling on 'Change, and steadily
improved up 10 the close OF business, when the FOL
lowing street quotations prevaied:-United States
currency skies, 107 1916 do. skies, 1881, regis.
tered, 1l9 ll9s; do. DO, coupon, 119 1l9h; do.
nve-twenties, registered, May and November 11s
11s do. do, coupon, 1902 do, 100 1904; do do,
coupon, 1864, do, 119 f19A; do d. coupon, 1858,
119H 119k; do. do, registered, January and July,
III 1l7z do. do, coupon, 1885, do, 1l73S 117%;
do. do, coupon, 1867, do, ll71s a NIX; no. do,
coupon, 1865 do, 117j4 ll7 do ten.fortes regis.
tered. 100 a 1ooj4; do. DO, coupon 100 lOots
The decentralization IN the State bonds was also
arrested and prices too6 upward turn, although
rather irregular and wide quotations stnl ruled Tie
following were the latest street prices for the lead
ing bonds Of the Southern list-fennessees ex cou-
pom, 90 a 6oj6; do. new, 81 a 52A; virginias, cx
coupon go 54 Georgia seyens, 50 q 90; North Caro-
IInas ex coupon, 40 q 90; do. new "A 10; Missouri
SKIES, SO q SO; Louisiana sixes, 90 II; do. loyee
Skies o. %; do. eights, 81 20; ALABAMA eiahts, 70