The New York herald., 1875-10-08
WALL STREET NOTES.

MORE CLOUDS IN THE FINANCIAL sKY-NEt
FAILURES AT HOME AND ABRoAD-oHEATISa
IN THE NORTHWESTERN PooL-THE BAxTR
coMpANY-IHE COTTON PIcKERs AND tn
GOLD QUESTION.
Yesterday Wall street was thick with storm clou5
The securities which had been declining for seyel
DAYS with scarcely reaction, did not seem toe
lifted from the quagmro of doubt and to their numer
was added New Jersey Central, one Of the hithdo
stanch and unassailable stocks. 1t was pointed ut
several days ago in this column that this road as
overburdened with debt-sad by some experts tobe
as much as $500, 900 per mc-and yesterday sme'
loans being called 1t suddenly fell to 10o1s from o.,
with but few sales These signs Of the times shoul be
full Of significance to the general public and rads
which are thus handicapped with stock and bond
dens will be the first to feel the effects Of
stringent money market or a sudden developmet Of
loans.
THE STOCKS ARE IN WALL STREET.
the banks and trust companies are clearing outtha
speculative fancios from their strong boxes and It's
healthy sign for general business that it is Lekhe
gamblers play with the shares until something koeaI
values attained and then the capitalists will sto in
and investing in shares that have some basis of scu
rity will take them of the street. until the prospey
and business OF the country give profit and pay the
dividend which is always returned TO patience and Jug
ment
MORE FAILURES
were announced yesterday. One Of large sugar REIN
ing house Of Glasgow Scotland, with heavy liaDitba
and invovements of several Grcenock holses,
and in our own neighborhood the suspension Of Mr..
John Gorham, OF Providence This gentleman's liabi-
ties are large He is President OF the Gorhan silver
Manufacturing Company and is said TO have sustained
heavy losses in real estate speculatons These failures
rave nrmcr tone to gold after the government awards
Yesterday and the stock market grew correspondngy
weak There reasons for believing that the late
s some OF the members have been detected IN cheat
nn around the board At least u Is current gossip
he street that tho next bear sensation will be in this
on his fellow members IL is believed the time loans
coming due on the stock being demanded may have
hastened the decline noticed within day or two
THE BAXTER CANAL TRANSPORTATION
Comnanv Il ia not denied, are in trouble On the new
boaes the company about 500, 600 The old story
az stock watering to have occasioned the dif
Guilty here as in all railway corporations. The
company have been organized with 100000 capi
tal, $780, 900 Of which had been given TO Mr Baxter
for his rights The capital stock had afterward been
increased to 81 900 000 but the amount pad IN was
only SlOI 200 Ii Is believed the immediate future Of
tho association will depend somewhat on the action Of
the creditors.
Farmers Loan, advertised to purchase 100000 Of
their second mortgage bonds, under sealed offers 70 be
opened tho 18th inst, and the bonds to be deliv
cred October 20
TO the Hannibal and st. Joseph Land Grant Will open
sealed proposals on Friday for tho sao the trust Of
$50 600 Of the land grant bonds Of the company.
TROUBLES
may have O more important bearing the gold ques.
picking season and fanything should transpre TO in
tcrfere with the gathering or the crop exchanges
would materially suffer AT all events II Is well TO watch
the situation In this direction