The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-01-17
WALL STREET NOTES.

FAILURE IN THE STOCK MARKET-THE RIVAL
TELEGRAPH coMPANIEs-sALEs OF STOCK AT
AUCTION.
The fluctuations In the stock market yesterday
will be found under the appropriate column. They
were, however, generally within the range or one
per cent but there was a leversh undertone TO
all transactions, especially as at midday the fail.
ure OF a small mouse was announced. This proved
to be the urn OF william NJ. whittemore, No. SO
Exchange place. The HERALD representative
called at the place OF business OF the unfortunate
broker and had an interview with the book.
keeper The latter stated that Mr.. Whittemore had
been "long" Of the market, and the recent heavy
decline mad exhausted his margins; they hoped
to make settlement with their creditors snorlly,
and could give no approximate idea Of their liza.
bllities; they were. however, not large.
Western Union was the speculative card early
in the day and declined Sharply, but was carried
up nearly to yesterdays figures In the late trade,
by the covering OF the "snorts." 1t was supposed.
good deal has been said on the street about the
rivalry between the Atlantic and Pacific Tele-
graph Company and the Western Union, the ex-
pectat0n being that with the advent OF General
Eckert to the Presidency OF the former company
there would be a general reduction IN rates and
sharp competition.
Erie mas taken business step at length OF vast
House otfces down town to tnelr old quarters at
the loot OF Duane street. Comment on this
movement in Wall street was very nattering 10
the business sagacity which prompted the change.
Bonds and stocks not on the Official list OF the
New York stock Exchange can only he sold at
auction, and, as Will be seen by record below,
quite large amount OF these were disposed Of
yesterday at public sale as we'll as some securities
which dun OF sale at the Board. The following
Is the report
so.OOo Burlington and Missouri Railroad Company
5000 Burlington and Missouri Railroad Company 49,.
sido' Burlington and Iisscari Railroad Company W.
ssp1 ad Missoar railroad '
Sper cent mortgage consolidated bonds l06X
ssS Sew Jersey S f' Raiirosd Company
$500 Sor!n Mssoari Railroad Company. ,fr.t
$500 Sshu Railroad Company
ss Sew YORK State per cent bounty Loan los 70
1cS Shares Mersantiie National III
~ shares American saw Company. ..."............ Is
SHARES Miller brother; Cutlery companv....... s0S
20 shares New Jersey Central Land Improvement :.
100 shares Mining Company Sx
s2o.Wo Western Union Telegraph Company per
o shares nannaan Sa sna Company
10 shares Great Western (Aarrne) insurance Com
sol shares Mercantile National Bank liiSx
s. shares Manhaan Sasiight Company =. lid S3I%
iS share. district isieRfaDa Comp wa
$500 Memphis. Charleston Railroad Company,
,o asis mSrgn i,nop PER T csaI bonds d say
per share............... wv
In order to prevent what Is called swashing," or
matched oraers at the Stock Board, the governors
have recommended the adoption Of new regua-
lions to take effect on the 1st OF February,
whereby 1t Will cost quarter OF one per cent on
their par value TO deal in bonds and stocks In.
stead or one eighth to investors, and one.eighta
instead OF one-sixteenth OF one per cent to pro-
lessional SPECTATORS This will make the amnse-
ment expensive, and, OF course, the hlgh.tOned
broSers Will not evade the law.
In Pacific Mail there was 1Ot even o startling
rumOr 10 disturb the serenity OF the street. When
our reporter visited the offices OF the Company the
Board were In executive session, with closed
hustle among the clerks.