The New York herald., 1869-10-03
FEELING IN THE STOCK MARKET.

The stock brokers did lively business yesterday.
OLD esta ,ished houses had orders to purchase all
kinds OF stock orders tumbled in from all quar-
ters and from all Of people. Money invested in
safe but slow securities was taken out and rushed
into the market for this purpose. as this healthy
symptomf' was the interrogatory addressed to an
old broker Wall street in reference to the appar
ent buoyancy OF the stock market. "NO, slr,n
was the reply; "when stocks are at their
normal figure this class OF people who
now sending down their money to Wall street
for investment keep aloor and prefer the
SLOW though more reliable profits, derived from
government securities and such like. Stocks are at
present low, and good many ordinarily easy going
folks think their time has come to make safe and
paying venture. When quotations rise they will
very likely sell out and return to their former class
of investments. The amount OF capital used in this
way the late excitement is considerable, but it
may be withdrawn any day next week and turned
into another channel 1t cannot therefore, be termed
q healthy SYMPTOM but rather consequence OF the
effects brought on by over-speculation and derange
ment In the regular business OF the market.n
POSTMASTER GENERAL CREswELL AMONG TIE BULLS
AND BEARS.
Greatness will assert itself anywhere, even among
the bulls and bears Of Wall street. THIS nota-
bly, observed yesterday, when the TALL compact form
Of Postmaster General Creswel strobe with measured
mob Of gentlemen at the Stock Exchange. "Hats
o,n cried wag, but not hat left its iaunty perch
Fright about face" yelled jolly joker on the out
skirts OF the crowd, and half-face movement fol-
lowed IN response to the impromptu ana imperative
command. POSTMASTER General Creswell,"
nounceu u
shouted dozen. 'srhank you, gentlemen, thank
you,n said the bland Cabinet Minister.
s'Sience. ftere,, furiously cried ferocous bear.
~ Crnx. rbal fat
little fellow IN the rear OF the crowd. "Speech,
speech popped out here and there In the noisy
assemblage, and the big man OF the mails, bowling
with courtly grace and with a diplomatic twinkle
in his left eye proceeded to accommodate his impa-
tient auditory with just few remarks. 81 am
happy TO see that the conflict is overn said the Post
master, throwing glance over the heads Of his
hearers "and the bright prospect which matters
now wear.u
As he SAID this his eye rested on John Morrissey,
who was contentedly engaged plucking away at q
bunch OF Catawba grapes the very picture OF peace,
plenty and repose. Wonder If 1t was John sug-
gested the cheerful OF the Postmasters speechs
'There's nothing" continued the speaker, 'fhat
government do for the interest OF the merchants
and brokers that will not be DONE" The bears
yelled the Postmaster shook the paws OF several,
and after round OF introductions came away from
the pit unharmed.
Happy Creswel Just as he was talking of ''the
bright prospect two large firms were tumblng to
pieces outside. Adams Klmball h Moore. No. IA
Wall street. announced themselves suspended
and unable to give q correct estimate of their La
btes. Their failure arose from losses In gold and
stocks the principal loss beng in the latter. The
firm had no unsettled transactions in the street
either in stocks gold. Almost simultaneously
came the news that Pueston, Raymond Co. had
uOu X Ia IN
again. "Who comes next p" was the general IN
auiry. "Well this beats all my experience said q
well known old hdbttue OF the street. "It's just
the men thought rigged up for this storm that
have foundered. There's Megs there's Lockwood,
there's Fuller, and now here comes Adams, Kim
ball 81 Co., who were just as precise as could be-
D-n me. If anything astonishes me after this -
Puleston, Raymond Il Co., however do not attr
butte their collapse to the late gale Theirs is the
old story-a defauting cashier-no longer a pheno-
menon In our mercantile community, but q very
ordinary product. The defautng cashier in this
instance was Mr.. J. w. sanderson who has
been connected with the firm for a considerable
length OF time, and Friday evening left usual for
his home in Hackensack, N. J. chance reference
to the books discovered them TO be In an unsettled
condition. Investigations were at once instituted
ana combination OF circumstances, together with
Mr.. Sanderson's non-appearance at the Office yes
terday morning, warranted the firm in announcing
themselves the victims OF O defacation. They state
that no approximate estimate OF their losses can
be ascertaned but believe themselves able TO meet
all liabilities and in short time resume their bus
ness The following letter to the Vice President OF
the Stock Exchange explains their postion-
NEW YORK, Oct 2, 1869.
M. A. wHEELoCK, Vice Presidcnt-We regret to
announce that we are obliged suspend, owing TO
heavy irregularities discovered IN our books last
m pe
us will call at the office many OF them can be
arranged without closing under the rule.
PULEsToN, RAYMOND a co.
The announcement from Adams, Kimbal d Moore
is thus briefly worded:-
NEW YORK, Oct. 2, 1869.
PRESIDENT NEW YORK STOCK EXCHANGE
DEAR Strive regret to announce that we are COM
peed to suspend business. Very respectfully yours,
ADAMS, KIMBALL MOORE
There was much sincere regret when the nature
OF this short epise was disclosed: for Adams Co.
stood well and might be their feet to-day II they
had not been caught in the eddies that swamped
others as comparatively substantial. The defauting
CASHIER Mr.. Sanderson, had a great share OF
confidence reposed In him. He was O careful,
steady middle aged man. not known to be given to
any forms OF extravaganza, and living quietly In q
modest residence at Hackensack. The surmise Is
that ne mas been specializing on his own account
with the funds OF the firm and has been unlucky
The exact amount Of the defacation will very likely
be known Monday morning. The Wall street mind
grew feverish after the news OF these failures was
announced, and no surprise was evnced when on
the heels OF the two mentioned the report that
J. Mott d Co.. stock brokers' had keeled over Hsf