The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-16
FINANCIAL AND COMMERCIAL. !


T.
The stock market closed yesterday buoyant at the
current quotations. The advance Of The previous
iew days Wa well sustained, aad buyers appeared
10 be disposed a. take stocks any way sellers offered
Cash transactions form the bulk of the business at
the beard Money IL very abundant where the right
kind Of securities offered, and the banks find it
difficult to employ all their idle funds For the first
time for many weeks the banks at the close OF the
week counted all the right kind Of paper offered
In the absence Of this class OF commercial paper the
banks will be forced into the stock market. Their
losses lately have been very great, aud they must
look about for some way of making at least their
current expenses. The stock market presents great
attractions, and call loans particularly desira-
bic ia times OF doubt and danger the probability
il that these moneyed institutions will, In few
weeks, be as deeply involved with stock specu.
lstions at any time during the present year The
strong and active movement IN railroad stocks during
the past two or three weeks shows pretty clearly
tina. there is plenty Of money the hands OF opera.
tors. Most o, the transactions have been for cash,
and the aaics have been unusually large. Prices
have become ~ inflated that ii requires large sums
TO move Large lots of stock, and the market Il 40
well supplied with securities that operators for rise
have evidently prepared themselves for more than an
ordinary pressure upon the market. SO far a. We
learn there Is outside support to the present
imitation. The brokers have the matter entirely In
their own hands, and, for aughi see. arc likely
to Keep IL. The great army Of bull spectators out
side o. Wall street doe not make its appearance,
snd leyond a small clique at the Stock Exchange.
there are buyers OF fancy raili Dad stocks. In
state securities there purchases for investment
for outside account. bat in he speculative class
Of stocks bal professional spectators are in
volyed. With full supply Of means, with
half dozen banks or more anxious 10
temporarily employ large amounts Of money,
and disposed 10 loan ON stocks with mode
rate margins with plenty Of sellers In the market, il
il not difficult matter 20 purchase and 10 put prices
up from day TO dIy. Buyers on speculation look. Of
course for higher prices and tho wircpullers cf the
market know thai lively movement can be con.
tnued only by steady initiation. This is such an
important influence that the expansion is kept up by
Tia, brokers' and the market kept active, solely for
the purpose attracting outside buyers, in the face
Of tho danger of getting loaded down before an
outside absorption can lie realized u Is desperate
game to play and requ.r,s great in the parties
engaged, particularly is never In the end success
ful The parties involved IN this movement have ex.
tensive individual resources. long experience, great
tact and perseverance,. They may carry prices far
beyond current quotations. and sustain the market
for time In pite Of the most adverse circumstances
but ultimately they must come out losers.
The outward movement Of specie at this port last
week was "a follows.-
SHIPMENTS ov SpFgrE rVow ur l'oHr oY WV YoRK.
Nov. q, str quaker CITY, Havana doubiovns sa75l 50
10. do. Am sud... "a, 80 90
Nov. 1 steamer Persia, Liverpool, gold
bars ana ingots ...................... 22e la4 90
10. do. u. = IUd coin. 2Ui ,uuJ %
To. do Sovereign. ~. loss 1B %
no. do. SILVER uOilars aGSJ 20
Nov u, str Nsgo Iisyrc gold aud silver H. zts 90
Total Tor the week ACKNOWLEDGEMENTS. esi 5is W
freyiowy reported. 81 355i lag ~
Total 1857 sS4, JJV 1917 IS