The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1870-03-22
FINANCE AND TRADE.
New York Money Market.
NEW YORK, March q

NEW YORK, Marcn II.
The investigation into the affairs of
Collector Bailey continues. Mr.. Childs,
his chief deputy, was arrested Saturday
night, but was released on $4,000 bail
to day, his presence being needed at the
investigation at Bailey's late Office. Mr..
Vail, deputy collector, claims that the
accounts of the Office, so far as investi-
gated, are found to be correct. On the
contrary, District Attorney Pierrepont
says that up to the present time de-
falcation of $4,000 is discovered,
which, he thinks, will cover the frauds.
Warrants for the arrest of Bailey,
Childs, and Frederick Lowe, the cash
Ter, were issued on affidavit by Colonel
Whitley, chief of tho secret service of
a division of the Treasury Department,
that the United States have been de-
frauded of about 100000, that Bailey
has confessed he is q defaulter TO a large
amount, and that others must have aid
ed and abetted him. The belief is ex.
pressed by many that Bailey is still in
New York, while others think he COM
mitted suicide.
The Commercial Advertiser says it
has it from reliable authority that one
of Bailey's bondsmen approached well
known distiller in this city with q
proposition that if the whisky interest
would raise 100000 he would resign
and leave town. The proposition was
declined.
The particulars of a new fraud came
to light this afternoon. An individual
by the name of Hart on Saturday en-
tered the office of Evans, Wharton &
Co., 5 Broad street, and gave an order
to sell 1000 shares of Lake Shore stock,
which they sold at 65i to S5t Hart
stated that the stock was for account of
d. K. Shelton, one of the most response
BILE operators On the street. To-day
Evans, Wharton g. Co. discovered that
Shelton had not ordered any such sale,
and bought the stock back at loss of
$500. 1t is supposed that Hart was
short of Lake Shore, and adopted this
course to break the market and buy in
| his shorts.
There are no new developments in re-
gard to the late forgeries. Some bank
ers and brokers to-day instructed their
banks not to certify for any checks
under one Thousand dollars. Some
/ Dduho VI luCll O"u diCOIu olO 1CluolbE
to certify for small amounts, and the
forgers thus far have not risked one
thousand dollars in their operations.
The report that Dennis Perkins & Co.,
cotton brokers, No. 65 Broadway, have
failed, in circulation to-day, is denied.
1t is understood that it grew out of a
difficulty experienced in the settlement
of some of the margins in contracts for
future deliveries. The members of the
firm say the amounts involved are
small; that their general business is not
at all affected, and that the difficulty
willprobably be amicably arranged, The
report, however, caused very uneasy
feeling, especially among parties hold
ing contracts for future delivery.
There was a general calling up of addi-
tional margins, which may precipitate
failures among the bear operators.
In the cotton market large amount
was sold short for future delivery, both
here and at Liverpool, atabout the low
est panic reached in the late break in
gold. Some of these contracts have
been covered, but a very large amount
of cotton has to be delivered during
the next two months, and at low fig
ures compared with the current quota.
tions.
Dispatches state that resolution to-
day passed the House, declaring it in.
expedient to increase the interest bear
ing debt. This would seem to kill the
prospects OF that section of the funding
bill giving the Secretary of the Treas
'ury authority to fund greenbacks into
per cent. bonds.
MONEY-Market easy at 4a6 per
cent, generally Sac.
STERLING-Quiet at 10Sial08i.
GOLD-Firmer; in the forenoon it
closed lower and weak; the price opened
at ll2s and closed at 1l2s. Carrying
rates 4a5 per cent. Clesrances fifty
millions.
GOVERNMENT STOCKS-Dull and
heavy; Coupons of 'Sl, 114fal14i; do
'62, l09sl09s; do "a, 10Sfa1O85; do '65,
109alO9s; do new, 107ial07s; do '67,
l0Sia108s; do '6S, 106aal09; l0-40s, 105a
al054; Currency Skies 1l2tall24.