New-York tribune., 1873-12-11
FINANCIAL FLUCTUATIONS.
GREAT ACTIVITY IN WALL.ST.

"@hi hC1IVIIr IN WALL-SI.
LARGE TRANSACTIONS EARLY IN THE DAY-A RISE IN
Siocks EXPECTED UNDER THE POLICY or IN
NEUTRALITY-SUSPICIOUS. OF BROKER WHO HAD
foi FAITH IN THE PRESIDENT
Inc stock market opened yesterday with
great ouoyahcy and during the early hours the
were very large particularly in the lower priced
STOCKS Ihe general feeling in street ia that imitation
WI" continue TO be the policy Of the Government, and
oo"u"cu rise In the railway and general share market
IL 'ne result. In tho afternoon a largo number OF
oIe'aors realized their earlier transactions and
prices ieil on quite steadily to the closing hour. The
largest business was done In Western Union.
hn' onore, New-York Central. Pacific Mail
Union facihc, Cleveland, Columbus and In
uanapols Central. st. Paul. Northwest and Ohios.
i"o uoonne IN the afternoon attributed TO other
o""''s-rumors tfrom Washington Of the proposed
SUMPTION OF specie payments &c; but the influences
eo py these was probably very slight The general
Ao oscd near the lowest price Of the day. and all the
STOCKS on the list ran below the opening quotations.
cepe northwestern and Delaware, Lackawanna and
Erie declined two cent in sympathy with the
hohuon MARKET and was possibly influenced some
oN'o"' NY an Indefinite rumor that q largo London
operator IN Erie was In financial embarrassment Money
was easy al per cent on call The outstanding legal
tehucr circulation was increased that of Tuesday
tVV"Vo Gold closed ut l09a having touched 1904 and
io't curing the day The Assistant Treasurer paid
fo' IN redemption OF bonds and s7 900 on account Of
interest.
SUSPENSION or r. r. UERRICK.
Inc suspension OF r. r. Herrick & Co.. bankers OF No
% No"t' was announced in tho Stock Exchange at an
carry nonr OF tho day. Mr.. Herrick told TRIBUNE re-
porter that be had sold "short" on Lake Shore New
YORK Central and Western Union under tho impression
that the Government pledged against initiation Of
'he currency. He had acted with cques, and had
feheu upon his own judgment in his business. He had
'nouen' tnat when President Grant refused TO draw
upon the reserve when money needed in this CITY,
because IL would be violation OF law that was a sul-
cleht declaration OF his policy upon which TO base
business operations; but when the reserve began
to be drawn upon heavily the chances were all against
hm' ho had paid out 20 per cent on his margins and
Kept theh up TO the close Of Tuesdays business, but
the continued advance yesterday morning compelled
nm TO give way. His losses we're chiefly confined to
himself ana he did not more than Sf5OlO on the
street He expected to make this good in u short time
and start again.
THE fAITTILEss CASHIER.
Augustus W King, banker and broker At No 80 Pine
ST. had an expert IN his Office yesterday examining his
accounts IN order 20 learn the HosfOrds
falcauOns. In tho mean time he has suspended bus
ness lie tolda TRIBUNE reporter, at late hour last
evening that nOnohey missing except tho value Of
the check 'O,925 which Hosford had cashed immedi-
atey after leaving the ofico monday He expected
to resume business be could get his affairs
Strengthened out Every reasonable effort had been
made to arrest Hosford, but without success.
wAII-sT NOTES
At the annual election the stockholders OF the At
lantc and Great Western Railroad Company at No "a
Wall-St, the following directors were elected Lloyd
Aspinw all, James H. Fay, Lawrence Wells W H. Upson
John Tod T. Ross, Henry l.. Parsons W. w. Mcfarland
James r. Hodgkins, A. Hegwisch. Abram Z. Hewitt, j.
II. DevereauX, and Reuben Hitchcock.
regular meeting OF the Board OF Governors OF ,he
Stock Exchange was held yesterday afternoon but
usual the results Of their deliberations an
nounced. The admission OF member into the Stock
Exchange yesterday made the occasion for a scene
Df riot the floor which could hardly be oguaed any
where The member was hustled about unit, he |
was in danger OF suffering serious injury. and Mr. |
Whecl0ck aiter descending the floor quell the
unluii, was treated with little less ceremony.