New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-03-06
SATURDAY. March i-r. VI.


After Il week of activity and general buoy
ancy with revival of business to point scarcely
chroniced since the merging Of the Open and Regular
Boards the stock market to-day has presented deci
dedly irregular and feveIish tone with however, no IN
dications abatement either in activity or excitement
A very feeling apparent at the opening, ana
slight Improvement noted of the list at the
First Board when sharp reactionary movement was
suddenly sprung upon the market, for time completely
staggering the enthusiastic and confident bulls by the
ygor with which the hammering was prosecuted ana
the Violence the drop The break was no doubt aided
m the failure of the stock firm OF Messrs. Albert Frank
A. Rrotbcr The downward movement was led ny Union
Pacific which quickly Old down from ~ 10 2l though
nearly regainng IFS startingpoint before the close
During the violent hucuations large amounts of stock
changed hands much long stock having been dis-
posed Of at handsome profit in view OF
the signature Of the President 10 the Army APP
nropration bill. with the attached amendment
granting favorable terms TO the Pacific Rall-
road COMPANIES. in the way Of legislation the decline is
viewed with some suspicion that small feline quadruped
is concealed under the meal, though the decline is proha-
hy 10 some extent due ia report which was no doubt
invented for occasion. hut nevertheless prevailed IN
the street for time the effect that the President had
vetoed the bin in consequence Of itiTeeyant riders.
several other prominent stocks such is G. G. and c..
North Western. Rock Island, and ST. PAM followed the
example thus set, though 10 less decided extent, and
when the columns reformed were foremost in the
advance Ohio and Mississippi making higher quotations
than have heretofore been recorded. Lake
Shore was traded ID 10 large extent,
and has been generally firm throughout
wcl-kuown stock firm McssIs. Albert Frank d Bro,
Yesterday took In 5Ol shares of , stock from Mcssrs
Classon HAYES delivering in payment therefor un
certified check for $4,000 which thrown out this
morning A. worthless, there being funds in the bank
10 meet IT, The drawers of the check being unable to
meet or 10 return the stock, McsSrs Clason Hayes
have to stand the loss II is reported however with how
much truth We are unable 10 say, that the matter has
been adjusted There also another report in the streets
10 the effect that the Union Bank where the dciaultng
firm keep portion Of their account. have lost nearly
s50UO by their ccrtihcaon Of check which was not
made good the close bank hours and which Is good
enough for the Union Bank, or any other bank when
will certify check good. when II is not. In Fact
good al the time ~ such certifcatio Messrs. Frank
Bro we're 81 course specializing for decline. There
has been discussion IN the streets as
to the character Of this transaction on the
part Of Mcssrs. Frank a. Brother. The rules
OF the stock Exchange require that when a
member finds himself about to tail his contracts he
shall Immediately notify the Board 1t urged that the
firm must have known their real situation when they
exchanged their uDcerted check for the stock but the
latter claim that with the shifting tides of value at the
stock Exchange they could not know positively when
they were in the position requiring notice the Board. II
will that very nice issue is thus raised 10 the
point to which q losing firm may without informing
the stock Exchange OF failure to meet contracts The
miscellaneous list was without special moment invest
meut securities being drn will be- seen by reference
TO the official record printed above In Express shares
United States strong The following table shows the
highest and lowest prices Of active stocks made to-day
our weekly comparative table will be found TO present
unusual interest,"