The New York herald., 1870-01-20
FINANCIAL and COMMERCIAL.
WALL STREET, I
WEDNESDAY, Jan. 1876 r. M. (

WEDNESDAY Jan. 1875 r. MI
the nature OF events to-day would Indicate that
the cliques took advantage OF the buoyancy and
nsc In stocks yesterday to realize az the advance
and hence under their manipulation prices declined
ana
THE STOCK MARKET CLOSED WEAK.
There Is no special ''bear" movement on foot, for
sne street not disposed to sell stocks speculatlvey
In the face OF the IN money but tho late sellers
OF long STOCK would like 10 buy back ut lower prices
In pursuance OF the programme ALREADY announced
In these columns Of realizing forty or nty per cent
out Of an actual advance OF oaly ten per
cent IL will be observed that In repeating this pro-
gramme which IL the usual one In every bull move
ment. the cliques realize ut small advances The
reason tnat they md It very di1icult to MAINTAIN
steady upward movement the public being still too
cautious or lmpecuniOus since the september panic
Sometimes, on very buoyant day, that remark able
period passes out OF mlnd bus 1t inevitably steps in
~ last to warn the pu0ac. and stocks halt Hence
We fnd the cliques rather disposed to milk the
street, on smaller margns- The decline to-day was
precipitated by the falling on In the earnings
OF the Lake Shore and st. Paul railways for
last week, but the efrect upon st. Paul itself was
counserbalanced by the announcement Of the an
nual dividend, which had the effect OF keeping the
price steady. As generally expected the dividend
In seven per cent cash and three per cent common
STOCK ON the preferred stock, and three per cent
cash and seven per cent common stock on the com.
mon stock These dividends are payable February Is
next. The transfer books Will close on - 29th inst
ana reopen on February 10. Inasmuch as the divi-
dend s less the government 1t argued that tine
cash dividend on toe common and preferred stock
u respectively only two ana half and SIX and
half per cent. Some brokers hold that the stock
dividend cannot be taxed, in which case the divl-
dend would be 2.85 and 6.65 per cent. similar dis.
pute exists with reference to scrip and cash div
idends on New York Central. Lake Shore was
particularly weak owing the depressing influences
OF the new attack OF the Wabash directors lease
Of their road 10 the Lake Shore or consolidation
sherewltn. The latter scheme having been defeated,
the new proposition Is lease Wabash at six per
cent on It's present share capital, and Wabash
threatens, IN the event OF refusal, to break
tion at Fort Wayne and thence send It's Eastern
freight over the Fort Wayne and Pennsylvania Gen.
trai roadA This story has been denied to-day, be-
cause the cliques have been f0restaled their plan
to get shOrJn Of Lake Shore and 'l0ngn OF wabash;
but let the public bide their time, and see II
the general facts OF the negotiations pending be-
tween the TWO roads are not In the main
as above narrated. Rock Island was also weak
under realIzations and fell to 1867 as against losA
yesterday. The stocks which have been least active
lately were the most STEADY. Erie was strong and
sold at 23ss The market Tor the prominent specua-
tive iayorltes was weakest at the close OF street
business.
STOCK EXCHANGE PERSONALS.
The committee having In charge the subject OF q
new location for the Stock Exchange has been re-
modelled, and the friends OF removal to the vlcn-
ity OF the City Hall PARK expect that their PROPOSE
tion Will receive favorable consideration.
proposition Will shortly De Submitted to so
amend the constitution OF The Stock Exchange that
any member VINO applies for legal interference to
prevent the enIorcemens or the rules OF the Ex-
change shall, by the act Of application, his
membership. The announcement of action 10 this
efect by the Governing Committee was made to the
Exchange at the drst can to-day, ana was received
with decided approval.
The general routine OF business In Wall street was
somewhat varied to-day by the mlngling In scenes
of two Iashi0naby dressed ladies as spectators.
Who they were few seemed TO know except that
they were rom tho Hoffman House. Where they
obtained their knowledge Of stocks was q matter
OF puzzling conjecture with those whom they met.
After investing to the extent Of several thousand
shares In some OF our principal stocks and selling
Others, and announcing their intention to become
regular habttues OF Wall street. they departed, the
observed OF all observers
CLOSING PRICES AT THE STOCK EXCHANGE.
The following were the quotations for stocks at the
last session Of the Stock Exchange:-Canton, SAX q
b5; Cumberland, 81; Western Union 80 a ssA;
Quicksilver, 1s1< IA; Mariposa, 81 81; do. pre-
1errcd, 16s< 17h; Pacific Mail, az . 4lA; Boston
Water Power, Is . 16H; Adams Express, 81 q 90;
WellS-Fargo Express, 21; American Express, 3ek
. 81; United States Express say 63K; New York
Central, consolidated, % q 03h; d0., scrip, sS Q
SSA; Harlem, 1917 lao; Erie, 2aA bid; Read.
ing, s4h a4h; Michigan Central, lis bid;
Lake shore, S5x 85x; Illinois Central,
1SsA Q 14o; Cleveland and Pittsburg, %
bid; Chicago and Northwestern, 73,s . 73x; do.
and Cincinnati. Is 75h: Rock Island, 107H
. 1o7K; Milwaukee ana St Paul. TAX
. 74K; do. preferred, SIX . s7h; To-
Iedo and Wabash. s5,s 65h; DO preferred, 70 bid;
Fort Wayne. SIX s7zs; Alton and Terre
Hauts q az do preferred, 81 . 81; Ohio
and Mississippi 2sx . 2sH; Delaware and
Lackawanna. LOG . 10Sx New Jersey Gen.
tral, 1904 q looh Chicago and Alton, 145; do.
preferred. las bid Norris and Essex. SO 81;
Hannibal and St. Joseph, Ill q 112 do preferred,
Ill 1113@; Dubuque and Sioux City, 1857 o 10s1l;
Columbus, Chicago and Indiana Central. 1s1s 1sk.
GOLD STEADY AND DULL.
the gold market was again very dull. The price,
which was 121h 12l% q, changed only five times
during the session OF the board from to three
O'Clock while the clearances have fallen to only
thirteen millions. 1t is said that the enemies OF the
Clearing House have contrived q deep plot by
which they intend grand demonstration In the
Cold Room. They nave made all their recent sales
ex Clearing House, the effect OF which will be to
compel the buyers to carry the actual gold instead
OF holding 1t on paper In The Clearing House. The
enemies Of the Clearing House are the cliques who
went short q: 1224 1913. and are desrous Of get
ting up panic among the 'bulls." The carrying
rate to-day ranged from six per cent currency TO
seven gold. The course OF the market Is shown In
Che table,
10 A. .M............12lK 2P. M.............121K
IL A. M. ..12lH 3P. M.............l2lX
1l:46 A. NJ. .l2lH +. NJ.
IL 2M...............l2iH 5P ..l2lH
p M..............121a $3.50 r. NJ. .12ln 1919
The European steamers to-day took out no specie.
The operations OF the Gold Exchange Bank were as
follows
81