The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-11-26

shown in the following table,
40 A. N........... 1855 2P M.............. l247I
1o:l7 4: M......... l2sN sp M. .......... l24l
q M. ;;......... 1251s 4P. M......;.::. l2as.
!2;4e ?. M........ u, or. M......l24A l&2s
y r. M....-..-.--..- lZotS
Holders OF gold paid 7, gold, 1-32, o, and per
cent TO have their balances carried over The
operations Of the Gold Exchange Bank were as fol-
Iowa.
Currency balances. OBSERVATION-DISCLOSURES. 1o6l,6z5
The carrying rates above set FORTH together with
she increase OF clearances at the Gold Bank. where
Ehe business was twice as large as on any previous
day since its resumption, indicate large accession
t. the ranks Of the "bears.' who are selling gold
which they do pot own, but expect to obtain mucn
cheaper at future day. 1t was this overselling oil
the market which formed the foundation Tor the
gold corner" in September. The same thing hap
pened last year, when gold, on Its decline to 1924
was 80 heavily oversod tnat IL reached l35 before
Che year closed.
Otherwise there was no important or very novel
feature In the DAYS transactions The money market
was abundantly sapplled ut SIX to seven per cent
despite the steady outflow OF currency to the West
and Southwest. The government dealers were even
accommodated at FIVE to Six per cent. The capital
available for Wall street uses far In OF the
demand. and hence the shipments OF currency to
the interior are not felt. Those who have money
are reluctant 10 engage In any new undertaking
while the gold market Is so weak. The
capital which would otherwise seek employment
tn many enterprises is now lying on deposit In the
banks or with the private BANKERS who are all free
lenders OF 1t to such borrowers are prepared to
give the collateral security Of stocks or bonds.
Hence we ind, at season when money has been
Acu~
street. The note brokers report more dong in their
pne OF business, buyers being quite numerous for
the prime grades, which day ranged from nine TO
sweve per cent. The foreign exchange marAet was
nrmer under purchases stimulated by the decline In
g0ld but rates were unchanged. The government
bond market was weak In response to the decline In
gold and closed feverish at quotations showing a
Decline Of about one-naf per cent upon the closing
prices Of last evening" In Southern securities there
was an utter demorai zation Of the North Carolnas
which broke several per cent 1t Is charged In Wall
Street that certain the state officials have been
'sh0rt" OF these securities since last summer
and that they reapng pecuniary harvest by the
Aecline. In the special tax bonds tho specula-
Hon for decline has been quite manifest.
To-day some OF the shorts covered their
contracts but the rally which their purchases gave
the market was only temporary. In South Caroinas
bonds, which sold at 20. The proposition of Gov
Drnor Scott to pay the interest In gold produced lit
lie effect the bonds, and was not regarded by
the street as likeyo be acted upon before the gen.
oral resumption OF specie payments. As showing
che good faith OF the State, however 1t had salu-
cary influence. missouri SKIES were strong and the
general list steady.
The earliest operations in the stock market CON-
prised an advance la Erie to BY on the expccta
zion that the order Of Injunction would eventuate to
the benefit Of the stockholders. The subsequent
stay OF proceedings issued BY another Judge In the
interior Of the state disheartened buyers once more
and the price relapsed to g. The Northwest specu-
1ation, whatever the ultimate purposes Of the
cques, was wen sustained to-day, and the price OF
che common stock was put to 74x and the preferred
20 SO. The rise IN the latter partially attributed
20 the covering Of the short interest," The Dor
rowing demand for the stock being quite sharp
The Vanderbilt stocks underwent heavy
decline, the market for the moment being In semi
panic concerning theul especially as the sales
accredited to the "vanderDit brokers,n as certain
Firms are designated by the street. New York Gen.
tral fell to III and Hudson River to 1905 The new
consolidated stock touched s7s and the scrip slss
On the other hand, there was D decided uiish
movement IN Reading and Pacific Mail, which car
Tied the former to 99i and the latter to 53s Lake
Bhore was unsettled and weak until late in the day.
when 1t rallied and rapidly advanced.
meeting OF the stockholders OF Wells Fargo
Express Was held at their Office to-day, In accord
lnce with circular Of Its President A. ii. Barney
TO vote on an increase Of Its capital stock from
tcn millions to fifteen millions. Mr.. Barney, in
explaining the object Of the meeting. said that the
Ave millions OF increase was to ne given
20 . party in California who had formed
a I've fnfn no pari lo Ey nrpoo and
were about to run opposition on the line OF the
Pacific Railroad Mr.. Eugene Kelly and others gave
their reasons in opposition 70 Mr.. Barneys state
nsnts and said they would 66t Vote; that no com.
pany could give away part OF its property without
. good and valid considerations; that In this
scaee there was none other than good with
s.n sa circular Of Mr.. Barney TO the STOCKHOLDERS
Eoud have. a.s had the effect of inducing stock
holders VINO knew no.. ns 9! the management OF
the company, and hundreds Of Hp0.Q Issasa ogs OF
shs city and in other States, 10 give shAf proxies TO
cote as requested that many statements In I've or
cular ana verbally stated were not facts. Tue
voting then took place, over $4,000 shares
being cast In favor Of the increase ana
about 1000 against 1t. Only lew Of those
IN opposition voted An absolute injunction was
served on the president. secretary and treasurer 10
prevent the issue OF any new stock and 30 the mat
ter ended for the present. The stockholders having
voted tnepjncreasc the question now goes into the
courts.
Tue following were the closing prices Of stocks at
xhs last session OF the stock Exchange: 52h
sSsk; Cumberland 2eH q 2o'4; Western Union, a5A
soN; Quicksilver, IL o 14M; Mariposs 50 81; DO.
preferred 10 1ek; Pacific Mail, S2a 52A; Adams
Express, SIX o 57x; welis-Fargo Express, Is isN;
American Express, 34H 354; United states Ex-
bross, 81 bId New YORK Central consolidated stock,
bsx 90; DO, scrip s24 s21s; Hudson River, ies;
Harlem, 1s1k 1aA; Erie, 2s 2sk; Reading
ssx . 90; Michigan Central, l2o; Lake Shore,
SIX s7K; Illinois Central, 1904 i3IH;
Chicago and Northwestern, 74a Hh; 40. preferred,
nnl ana and Ciuclunafl