The New York herald., 1869-01-20
FINANCIAL AND COMMERCIAL.

TUESDAY, Jan. I'D X n.
the great feature OF the stock market to-day was
New York Central which at one time sold up 70
1885, and dropped to l62 at the close In the morn
ing the opening price was 1854, whence there was
steady rise to the highest figure mentioned. Heavy
realizattons resulted In sending the price
down to 1861 a 1857, at which the market
was quite steady until the afternoon session
of tho regular board. when prices were
again buoyant. but did not touch the highest ngures
of the morning boards Realizations, more or less
extensive, worked the price gradually down until
prices at the end OF regular business had fallen on
to those at the beginning. The grand coup occurred
In the Long Room just previous TO the adjourn
mont and on the street, where excited dealings took
place up TO q few minutes before six O'Clock
this evening. Those who were In posses
sion Of the facts as revealed In the anidavit
of Commodore Vanderbilt, elected by the suit OF
Mr. JenckS. began 10 sell the market Immediately
upon the strength Of the disclosures therein con-
tanned. Tie bulls" who were not in the secret
that the testimony had been made puolic or who
were s10ngf OK the stock at the high prices OF the
day made wild fight in the dark against the attack
OF the shorts " and. If might be SO styled, hand
to hand contes ensned between the rival classes OF
operators, which after their removal from the Long
Room By the turning of Of the gas, was prolonged
upon the sidewalk ia front OF the Stock Exchange
until both sides grew weary and desisted, with the
advantages or the battle decidedly In favor Of the
"bears." The scene at one time was very excited.
Tho contest for a srell would narrow down TO few
OF tho principal operators, who hurled figures and
fractions at zach other with the volubilty Of
auctioneers, white the respective partisans stood
BY with bated breath and watched the Horatil and
Curatii OF this financial battle. Then the struggle
would extend to the whole street again, and the
rp~ -
calls. The success Of the attack tohave been
derived from It's suddenness and from the
ignorance OF the other side as to its
cause, rather than from any real inherent
strength. The sbulls' were mystined at the sudden
turn Of affairs not knowing that the court proceed
ings the suit had been given to
che press and public. The 'bears were the first to
learn the facts, and they bore down upon the market
with all their force. When Il comes TO be known that
the afldavit OF Mr. Vanderbilt dscoses nothing which
was not already fully known to the street the bulls"
will doubtless return to the fight, reassured that
the stock Is now worth Just much as 1t was
before these alleged revelations were made A very
pretty sequel to the demonstration Of this evening
will therefore, reopen the battle in New York Gen.
trail to-morrbw. The rest OF the list sympathized
more or less With the advance and decline IN Cen
trail. The active stocks were Fort Wayne,
Michigan Southern, Rock Island and St Paul.
The first mentioned went up to 1241s, on account Of
large purchases said to have been made by the Erie
directors with view to controlling the next cleo
tion W hch comes or in March. II this be the case
It would indicate that the Erie Company have had
a Misunderstanding with tho Columbus and Chicago
Company and are now seeking to get an outlet to
Chicago from the vicinity OF Urbanna by way Of the
Pittsburg and Fort Wayne road Again-aud this
version is the most probable-the whole story is
told for the purpose OF enabling the Erie clique to
dispose advantagcousy OF the Fort Wayne shares
which they purchased SO freely few weeks since.
The public may set it down for fact that all the
movements reported to be in the interest Of the
Erie Railway are stockiobbing canards. Michigan
Southern was also an effective stock with the
same Erie clique to-day, and Its price ran up
TO 93H. The Erie road is cumbersome,
heavy, broad gauge road, which can never hope to
compete with the narrow tracked New York Central
and Pennsylvania Central, which flank it on both
sides and are the favorites for shipments from the
West. As soon az an Intention Is shown TO lace 1t
IN the great network OF railways by reducing
i.s gauge the public may place some faith
In the extrayagant pretensions OF forming con-
neuion with the many western roads which
are TO make the Erie one Of the highways between
the West and the Last. To give air or probability
to the story that the Erie party are seeking
troll Fort Wayne, 1t stated to-day that promi-
nent member CT the clique mad gone to Europe TO
purchase the oreign proxies. Pittsburg shares
hrmer account OF reports from Cleveland IA
vorable to the stockholders side OF the con.
troversy. The 81. Paul stocks were one per
cent better on account OF the arrival OF the
iong-ooked-for dividend. The Express stocks were
active. particularly Adams, which sold up to 57z.
Those en1ns ferrioles, the Erie clique, were also
credited with this movement; but the real reason Of
II very probably the purchase OF the stock de-
livery 70 tue American Merchants Union, In COM
pliance with the terms or the recent convention by
which the Adams Ia to be restored the old routes.
The Mariposa stocks were quite active.
Gold was dun, with n declining tendency, which
effected yielding or three eighths In the price. The
'bulls" bought largely against an expected ship
ment Of specie watch did not take place The range
In price vas lollows:-