The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-09-24
FINANCIAL AND COMMERCIAL.
MOHRY MARRET.

HONE MARKET.
SUNDAY, Sept 23---oP N.
AT the close of the market yesterday the tendency
prices WAS slightly upward There were an unusual
number Of cash transactions for an afternoon board ana
spectators for rise in Erie appeared have taken
new hoid. The combination formed for eevsting this
stock Is without doubt powerful one and We should
not be surprised to further imitation Of some mpor
lance; neither should we, the other hand be sur
prsed to see prices recede to their old points Reading
Is The next most active stock IN the list Cumberland
Coal an enigma The sudden In tn
puzzle outside spectators amazingly II is moved up
ana down as suits their interest by inside operators by
those who daily congregate in the companys office,
which b no more less than regular brokers' shop
Movements are concocted in the directors ROOM with
great secresy, and the members Of that mysterious
clique are at times both bulls and BEARS Fortunately
the stock Is held by but Spectators and is there
fore fair game. We believe the management make
attempt to conceal the they may be for the time
pursuing but the why and wherefore Is left outside
harharians to imagine Nicaragua Transit has for
time past been steady at about twenty per The mr.
rapgement just made with the Pacific Steamship Com
pany Is in our opinion, rather against the Nicaragua
ComPanys interest, for believe II made more money
acting independently but the company cannot complain
much of the terms exacted ming money rapidly
and owes but small amount Its report when pub
lshed, will show good management the part Of Mr..
Morgan and dividend is confidently expected In january
All the most prominent Western railroad stocks were in
demand at the close yesterday For Gaena and Chicago
100 per cent offered time aud no sellers and there
were any number of bidders 104 per cent for Chicago
and Rock Island. Michigan Southern was drm at Io2K,
and no stock Offering The market for good stocks looks
well.
The money market keeps pretty snug and that Is about
all. No pinch has yet been experienced Finan-
cers differ materially in regard to the future operations Of
money matters. Some predict most woeful times during
the approaching winter, while others look for the great
est abundance Of capital and period of intense specua
ton. We disposed in this, In all other affairs of
the kind to take medium course and to pursue con.
servative policy We do not at present think that either
extreme viii be realized. That there will be active
demand for money throughout we do not for moment
doubt and the probability Is that its value will gradual
y very gradually appreciate the wants Of business
give 1t greater activity but with California at the back Of
us yielding four millions of dollars In gold per month
and crops OF breadsurs and cotton such were
before dreamed of with demand the other side equal
to hing we can supply 1t hardly appears within the
range Of possibility that any serious strngency In the
money market for long time take place. II Is true,
that the three greatest commercial nations Of Europe are
engaged in which Is Of most expensive character
and threatens TO be protraced Tha Will ultimately ser
cac moment
doubt; but IL must in this connection borne in mind
that not the producers OF articles Of luxury de-
pending for markets upon the people OF either England
France that have nothing TO sell but articles of the
first necessityartices which into the daily CON
sumption Of every human being. Our exports are the
stat Of life and unfortunately for those engaged in hosi
ties their very occupation creates unusual demand
upon those countries following the pursuits Of peace
the very articles produce in the greatest abundance
Great Britain cannot draw from gold and corn
at the same time. She must take the other. If
she takes corn keep gold and what would follow
few months accumulation in this country particularly
in this eitys Wall street hnanciers answer that
question as well We should not like to see
such imitation, and such speculation the accumu
lation OF three four months receipts Of California gold
viii bring about for the evils that would grow ont of II
would be ten times greater than steady contraction
from this time forward would produce few weeks will
enable to clearly into the future and the
meantime counsel caution the part Of spectators
that they may be prepared for any change in financial af
fairs, for any complexion they may hereafter assume
Mr.. Albert H. Nicoiays regular temi- weekly auction
sale of stocks and bonds will take place on Monday next
the cath nst at 1915 O'Clock, at the Merchants Ex-
Of first class securities. among which will be found
SIS 000 g. 10 and IL per cent city Of Sacramento bonds
These bonds issued in pursuance Of an act Of the
legislature and by authority OF the city charter sa-
cranento which ranks them among the frt securities
In the market
The expectation Of specie from hs port figures up ths
week larger than anticipated We shall ship much
direct during the next two weeks