SHARE MARKET.

Nelson Evening Mail, Volume VII, Issue 215, 9 September 1872, Page 4

SHARE MARKET.

Evening Post, 2nd September, 3 o'clock. A convincing proof of the perils which beset the path of joint-stock enterprise is seen in the violent fluctuations which have affected for weeks past the shares of Fox, Yogel, and Co. (Limited). This company "was formed some three years ago to take over the sound and old-established business of Stafford and Co. The managing Director has long, been known in the commercial world, having at times been a member of several firms, which have, however, usually failed; Mr. Yogel was new to the business, and was admitted as a director owing to a mistakebf which he took full advantage. The new firm was received with considerable misgivings. Mr. Fox's previous business career was by no means calculated to excite confidence j he had involved every house in which he had previously been a partner; Mr. Yogel, of whose talents there was little doubt, was but little trusted — he was considered too clever by half ; Mr. Gisborne, who had for a long tuae been head clerk under the retiring firm, was admitted as a make-weight; as it was thought that his intimate knowledge of the routine business would be invaluable to the new company. The panic in these shares has been most marked. They have ranged from ten to sixteen premium, at which they stood six weeks ago, to within the last few days eight to ten,, and even fourteen discount. The immediate cause has been the very large engagements entered into with the firm of Brogden & Co., with Messrs Webb and Co., of San Francisco, and the great London forwarding house of Featherston, Buller and Co., added to the extraordinary conduct of the " financing " director, Mr. Yogel, who is making large calls on the shareholders, while he refuses to tell them the extent of their liabilities. ..--Large " bear " operations have been (commenced by Messrs. Fitzherbert, Wood, and others, who were partners in the old firm, and by Messrs. Gillies, Curtis and others, who were sleeping partners. The company have been*, unable to stand against tlje manoeuvre; -notwithstanding their .large " bill " transactions. They have meen unable to raise the price of their shares in- the market, which is still feeble,/ their ablest assistants having failed. Two enterprising young brokers, Bathgate and Reynolds, did their best, but having no large capital their efforts were soon exhausted. If the directors can manage to avoid a bankruptcy it will be contrary to public expectation. A general' meeting will be held about Friday next, when some startling disclosures are expected, which may lead- to a liquidation or dissolution. The report of the auditors, Messrs, M'Glashan and Ingles, will be anxiously looked for. , Among other stocks, "Immigration Agents/f ind ready purchasers ; " Shepherds " are quitted with difficulty, for there is little, or no enquiry, "Ormonds" and "Reeves" are quite unsaleable, while *M'Leans" are at 18 premium. The market is very uneasy, and speculators are recommended to withhold their ' investments for a few dqys.' '■']'

At the Brooklyn Methodist Episcopal' Conference, held on May. 8, the religious statistics for America were submitted : — Methodists, 6,528,209; Baptists, regular, 3,997,116; Baptists; others, 363,019; Presbyterians,' . regular, 2,198,900; Presbyterians, others, 492,344; Roman Catho- , lies, 1,990,514; / Congregationalists, 1,1 17,212, -Lutherans; 997,332; Episcopal, 991,051. ...... .Chances with DiOE.^Mr. Steninmetz tells us r that/ in 1813 , a Mr. Ogdeh wagered 1,000 guineas to one that.^seyeri" wpuld not be thrown with a pair' of dice 10 successive 1 _ tirites/. 'The wager, was accepted (though it was egregiously unfair), and strange to say' his opponent threw ''seven" nine times, running. At this point Mr. Ogdenbffered/470 guineas !to be off the "bbti But his opponent* declined (though the price' offered was far beyon^ «ast yet;;^ that Mr; .Ogdeh/ won, his, guinea. jrFrom. ' /'Tbe^or^^ '" : / ; . Jyyy :'y ■; : " ' ; ; ':i^sfejsb^^ isy'es'timat^^hai; /•36^Dw/|>erß6rißV are, unemployed,^ jlarge spindles in ; Irelanii^devotecl to flax-spin-

ning, upwards }6fj;Boo^o:OT£ In] BelfasC^ Of these' 456,06^are i now ; silent > and' of* the remainder 30,000 or 60,000 will be idle shortly. A strike,and ". jock-out " on so gigantic a scale have never hitherto occurred in Ireland, and there seems no immediate prospect; of a settlement T;he masters have finally determined that beyond 2s. per week advance to dressers and roughers they will not go, should the mills stand, idle for months. They say that they cannot afford to pay more, and several of the employers maintain that they would lose considerably by giving the advance, but in prospect of a better trade they wish to keep their hands employed. The dressers and roughers, on the other hand,' are apparently inflexible in their determination not to accept the 2s. offered, and because 2,000 workers cannot come to terms with their masters in a matter involving Is. a week each of wages, nearly, 30,000 men and women, boys. and girls, are walking idle through the streets of Belfast.