The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-11-18
FINANCIAL AND COMMERCIAL.

WEDNESDAY, Nov. lT-6P.M.
twas evident early this morning that the had
been oversola by q the bears and TO morrow beng
dies non there large demand for stock for de-
livery that prices advanced from "a 20 per cent A
few operators took advantage OF temporary crisis TO
shift their sides, and aided the advance by purchases on
speculation As remarked yesterday, nothing has oc-
CURED the late decline began alter the position
products Of the leading railway stocks. Money IL
true very plentiful, and well grow dearer be-
fore next spring but u.s. after all cheaper than
month ago; and If, with the symptoms OF speculation
which were then apparent in the stock market,
outside SPECTATORS remain aloof, il is hardly reasonable
to expect them 10 come now, declining market and
in the face Of the very reduced he railways
il this last unosard feature which reality doing all
the mischief There is gainsayng the fact that the
leading roads dong business enough TO leave them
much any profit after paying expenses and Interest," and
under such circumstances their stock is rendered the
better property by the cheapness OF money Some of the
companies paying dividends, like the New York Cen
trail others passing them Ike the Rock Island and
the Erie; out the pubc-udging from the published
ports OF earnings and from the general business OF the
oounry-shrevdly suspect that, far real earnings
are concerned there not muen choose among them
Nor the prospect any rghtor for the future Some
mark has been made upon the improved business of the
Central IN October: the earnings Of October, 1853
SAID 10 he $4,000 those OF October 1857 But
what the facts2 In the unparalleled depression which
made the month of October, 1857 painfully memorable
the earnings OF the Central fen off 5000 compared
with the corresponding month of 1850 At such season.
just before the close Of navigation in the North, they
could well be less and ii would have been very
trsordnaYy indeed they had not shown some increase
this year The carly part Of November, being the last Of
the season. will doubtless also show increase but what
business such lines as the Central expect for Decem
Der, January, February and March,
The demand for state stocks today was liberal VIC
advance of "a in Mssouris y in CALIFORNIA;; 4.
in rennessees, virgnss steady at last quotation
In the bond market the most active inquiry to-day
for Fries Of all descriptions and for Harlem aud Hudson
bonds The Erie conyertihes of III touched 40 Illinois
Cenas steady IN the afternoon there sale O.
In Crosse land grants al advance of a per cent.
Rank stocks quiet; there sales Of American
Exchange and Metropolitan decline of u and per
cert respectively. New York Central opened at So
in the afternoon s3M, but closed afterwards at
e3}s The contest this stock at the afternoon board
very spirited; quite number Of the bears rushed in
10 close their contracts, in anticipation Of higher prices
Reading also the of much contention. The
stock is very scarce having been freely purchased BY
the Philadelphans II opened this morning 81, and
rose TO 52l reaeng afterward TO about 5i The gene
RAJ impression in the street is that the Read
ing is The Western stocks were all higher
| today Galena closed =, Rock Island s., Michigan
Central "a, Southern preferred "a Illinois Central y
higher than yesterday. Hudson River fair demand
! al IN advance Of s.. Panama was a higher Pacific Mall
fell Of y per cent The following closing prices
ported by Observation-Disclosures, 500 co. Pacific Nail
lo41s lo5 New York Central, s31S ~ Erie, 1914
Il Hudson, $50 "a; Reading, 81 = 81 Michigan Cen.
trail. 535S -, Southern preferred Sis Z; Illinois
Central, 791s So Gaena, 721s = Rock Island o2ss
y; Toledo, 49, q; Panama 100 a l2l. The market
coRed steady
The business Of the sub Treasury today was
Prom customs Observation-Disclosures. 81, 900 90
io'h fnentSs i5ov'u -
- balance. 57l 22t %
The exchanges al the Bank Clearing House tins morning
were s2l go $50 2s, and the balances 1898 $40 d
The of the hanks the four principal cites