The New York herald., 1871-11-23

consideration to carry balances Over--the market
turning completely against the 'bulls." who endea-
vorea 70 make the squeeze The course Of the mar.
ket Ia shown IN the table,
1911 A. M.......... ll0ss 2P. M............ llOX
1920 A. M......... lIoX 2:iS 7. M........... IloH
il M............. iioT sP. M.. M.......... iiox iO
r. A.............. llo2< t:3O z. M...llos. ll0X
In the gold loan market the rates ranged from
eSA for borrowing to per cent for carrying
Tho operations OF the Gold Exchange Bank were as
fOllows:-
COiu DAiauceS 1902, lis
Currency balances. s,ssl,06o
GOVERNMENTS DULL.
The government list was dull AMI steady The
e@s We're tilfe lower toward Inc close In
consequence OF the cheaper rates for sterling which
checked the filling OF orders for europe. but the
general market was strong, with few honds onerlng
Holders OF the currency skies, registered lvetwen-
ties Of V5 newl .'6y and '6S and otuer issues
arawng interest on the 1st OF January next should
30 careful to have their bonds transferred into
snefr own names before the closing Of the books
On the 1st of Decelibef Otherwise they may
% put TO great annoyance Ii COLLECTING
tne interest," which, by the rules OF the Treasury De.
parsment, is payable oniyto the party in whose
name the bonds were last registered, or to their
assigns with power OF attorney. The following
currency skies, 113H 113k; do. do, 1881, rogis
.ereos iiSS ll6h; do. do., coupon, nix lIs,
10 nvetwentes. registered, May and November
Iva Hi'<; 40. DO, 1864 coupon, do, llIH lIlN;
no. oos 1854 do. do, l1l4 a nix; do. do, 1865
no. oo. u1x . 1l2i do. do., registered, January and
'uly. llaA HAY; do. do, 1868, coupon, do, ia
: Ii4E; do do, 1867 do. do. 1l4T us; do. do,
.ooS' 10. do' ll4T l15; do, ten-forties. regis
soted' losA ITO; do. do, coupon, lo9Z aIlo.
STOCKS PEvERIsH AND UNSETTLED.
Stocks were unsettled and weak, particularly
curing the latter portion OF the day. On light
amount OF business the earlier tone OF the market
had been firm, and the mornings sales were gener-
ally ct an advance upon the Improvement estab-
hshsd so positively on Tuesday, But the progress
ef the day developed disposition to sell, and the
offerings appeared to come In about equal proper
tons from those who were willing to take profits
on their holdings and those inspired with belief
In the chances OF downward reaction. Both sides
arc noliceably deficient In slrong opinions as to the
future OF prices, and hence the temptation specu.
late " coupled with Willingness to accept light re-
turns. The attention OF the board was largely oc-
cupied with the result Of the meeting Of the Pitts
burg stockholders. held ut Cleveland yesterday,
and with the announcement Of an intended new
issue or Fort Wayne stock. The latter was made
At the first session Of the board and at excited
tho interest OF the board and OF Wall street gene
rally on account OF the startling innovation Of
"watertng" an investment security and guaranteed
STOCK, such as Fort Wayne has been esteemed
ever since It passed into the hands OF It's essees
However. the stock Is to be Issued on tor ms
which do not vitiate the earlier claims OF the old
stock, and make II In fact preferred stock, as be-
tween the TWO. the subject gradually lessened in
Importance, end, doubtless win In day or two
pass out OF mind The price OF the stock was
steady throughout and unchanged at OK. 1t seems
that IN the original contract OF lease the Penn.
yvsnis Railroad was allowed the privilege OF being
batd IN new special stock for SUCH improvements as
fit should make upon the Fort Wayne road, and the
stock just authorized s TO be delivered to the
Pennsylvania Company In return for precisely such
Improvements. The announcement was made as
touows:-
OFFICE OF PITTsBURa. PoRr WAYNE AND
CHICAGO RAILWAY COMPANY
PITrsBURG, Nov. 90 1871.
w.: ,. oLERkz, Esq. President New York STOCK
DEAR sis-In compliance with the regulations Of
{sDurs Fort Wayne a1a chicago RswaS
Ssr aoooo Shares o iss new 's Stock to
BE- designated as SPECIAL Improvement
TO have 1t called OF your sessions This issue is
made In conformity with aruce le OF the lease OF
the railway or this company to the Pennsylvania
Railroad COMPANY, and represents actual cash
values Of property pert placed upon the railway by the
each, @ 'd entitIed TO 10 divdeads OF seven @ per per
81 om R'aGs meas as'rsFS eTSddG Free SS %
the Pennsylvania Railroad Company as stipulated
in an agreement OF said company q certified copy
Of which is endorsed on each certinicate but this
jssue Ia in oil respects subject 10 Tue original qua
faneed stock to have distributed to 1t In quarterly
lnstaments an annual dividend fund or 81, $50. 600
free OF all taxes. beg to hand you herewith copies
OF article 16 of the lease and OF the agreement en-
dOrsed the back OF each certificate Very respect
fully, o. w. CASS, President.
Dispatches from Cleveland state that the stock
holders ratified the lease OF the road to the Penn
uyvania Railroad for an annual rental OF ten per
cent This result was, OF course, anticipated The
voting power was IN the hands OF parties who had
obtained 1t when tue books closed for no other OBJ
tect osensibly than the quarterly dividend. As tine
stookhoders claim that their rights have been voted
away an injunction win probably be placed on the
carrying out OF the terms OF the
Lease until the question Is tried IN
tho Courts delicate issue is involved
and extended litigation may be looked for Under
she influences OF the above matters the general
market became feverish ard weak late In the day
and was harassed by the 'bcars, " who attacked
Lake Shore, New York Central and western Union
In the closing dealings Of the board and on the
street. Qucksilver advanced to rs, but closed at
a. Harlem broke to 12l, on account OF the Sanitary
Board's rcquisftion for lowering OF the grade OF
sne road above Fortysecond street, which Is 10 DO
sunk eight feet below the level OF the streets
HIGHEST AND LOWEST PRICES.
The Following tablo shows the highest and lowest
prices OF the principal stocks curing the day.
highest. LotDes.
new YORK central scrlp............. So SIX
hAriem......... .........."...s....... 122 IA