The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-11-14
r FINANCIAL AND GAL.
MON EY M A Ht'K mt.

actions IN all the leading stocks Al the irs board Mi
nos Central bonds advanced per cent New York Cen.
rai "a, Il; Canton Company, Nicaragua Transit, Y
Cumberland Coal, u Erie, ~, Harlem, !. Reading
Railroad % Hudson Railroad VI Michigan Central .;
Panama, 9alens and chcsgo, n Cleveland and Toledo,
~. All the most prominent Western railroad stoekn
in demand TO day Notwithstanding the
a prices. Michigan Central advanced prnc pany
ne opening with sales unusually large. Reading opened
1t s7h, and co.cd at SS scn, with sales Of
than three Thousand shares. Erie the buoyaat
and the moot active fancy the list. More than four
thousand shares soh opening at Isa, and closing
at 49sa per cent cash Sales time ranged high
tok per cent buyer sixty days. The greatest advance
this morning in Cleveland and Tolcio which opened
Al G9 and closed ct 10 per cash The closng price
yesterday c6A per cent 1t strikes that the ad
in Erie and other stocks hns very little basis and
that only be temporarily sustained. Tho contrac-
ton Of the banks and strngcncy Of the money market
not calculated To aid and comfort the bulls much
give them ranch encouragement for tho future The only
feature about the market nj all favorable Is the fact that
the bank ioaas range comparatively low It Il OF
safer 10 buy stocks with discount, line thirty two
million than with it at one hundred aud two million;
but there other thngs TO be considered just be
SIDES the movement u our local banks. We must turn
attention 10 European affairs TO the movements ofthc
great noneyed institutions Of the old World the sup
plies Of bullion rates ofinterest ac carefully watch
the changes ia these important elements o. finance and
speculation We speculate In stocks this side Of the
Atlantic without regard 60 the condition OF thngs the
other side, shall be continually subject 10 suca sud
den and enormous fluctuations have recently been
PEN, need in this market The advance in stocks report
ed within the past four Ave days has been brought
about entirely by movements among certain cques 81
spectators in this city who have wildly rushed
into the market regardless Of anything calculated not
oniytc arrest a. any 'moment the iniiatiou but 70
plunge them stir deeper into he u bankruptcy.
The bus general thing operate upon the prime pie
that there IL everything to make and nothing TO lose
- long differences ontnue Ia their favor, very we'll
but when differences run heavily against them they
quietly compromise w're oui aud again. We
are by no means satisfied that not a. this
ment upon the verge ~ financial rcvulsion equal in
force md magnitude 10 any experienced for years No.
deratc panios and commissions look for every ninety
days; but iatsr-aiwaya provided OF course
that the European cOniinuos-one greater than all
will upon that viii shatter credit syatcm t.
atoms Platter Ourselves viii regarding our 10
terbal and immense wealth, regarding our
enormous productions and hcr Importance to the NJ
lions % the old World 10 the power q European
capitalists and " small ler cent Or their
% be- presented and immediate payment pressed
.h0uld be obliged 10 suspend Ia less than week. We
are In debt to Europe stock securities alone up
wards " three hundred millions Of doar every cent u
which a payable demand portion 81 this debt 1.
ony likely to be presented fsr payment and The
crten, Of that demand viii depend entirely upon The pro
ges 81 the European and tie drain upon the Bank.
n Ergstd snd France. We cannot b. indifferent Oh
% the financial struggle going 10 Tn I'm AND
PATS, long occupy tic position d debtors bf
such and those who their opera.
ton disregard The indications, .hch daily
and more apparent of scFous financial ari tnnerci
disaster and distress throughout Europe viii iearn
esson hey Will forget, The recent sudden col
lapc in our stock market should act a. waning =
srecuiaiots If hey require anything more effective 4
y useless ~ attempt further to caution COUNSEL them
II they viii through their pockets u useless
y appeal % their judgment.
Al the second beard thete not change 10 the
stock market. Erie ei hack fraction, but recovered
again ana clcsed only eighth ter lower nilnoi.
Central bonds advanced Z per cent. Missouri -, 4.
Cleveland and roiedo deciin-i ~ cent, Harlem i
Reading .Raaroad 4 Cumberland, ! There ~sre a.
aes ofMIchignn southern this nofn.ng bat ta sfsr.
NON ,afs made - ~ - per cent, whch T. a.
advance ~ per the cosilg pdcs n yesterday
The Assistant Treasurer fsp'rt day faiiovs.-
aid on inafnfJ account .-.........t .. 1895 %
Es,thed - .ts,"ttt*.*..,.s ys0D -
Lad ditburs,tg oerk. ...+...4.t...4. g. 10 -
ne current operation =, tns Treasury Dparimeri,
Wellington ~ asfaYaay fhe 10th lDsi. pegs a. o.
.
~ ~ t'I'Mpihh II fWsA&tt.tta #.Ht##.t# - ~
Ter ne interior iepartert .......t ~ ~ 9G
igf ~ 'hs~ms. ...t.t.- .tH.er#rr 81 !.
NAt sai'rh w ~ N''tft.f"# 49," -
wv .tfthb. - -. 49, .ttt tt#tt.t. - ~
~ A}n'ai. ~ a.."uhi D - ANY 49, ~ "
N'N's'' - 't" tttttt. @tts.t -'~'''+s II
The stsamtbp tmfro ~ e. MS pafiffpia AsIlnta iI
Efrg4 FL at 10 IN tarrrla rnM he s.safn,hlp Hai
- ~. H.. .....t h. - ~. .....
- -" ~ - 80
haf 20 fffftH On HfRh' r. cFehg Ife' ~ FkfAhf
Avrfaryr Ills an~fntan soc "a. 49,. fsr cent r.
. 10 IN ..,.,. 80 gt...,.4 &c., =, 80.
4ff
e rs 4 -