The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-20

Slight the movement has been during the week,
in the wrong directionan increase of loans and de-
of specie The increase Of loans has been New
Orleans (where the bank strength fully usthes the step)
and at Philadelphia where the banks only moderately
expanded 1t will be noticed that the specie average in
the four cities is half million higher than fort
night since. 1t is not probable that it will fall of much
this year.
The stock market opened with some strength this
morning. especially Gaena, Rock Island and Central
But the close Of the first board the market became
weak, and between the boards prices declined q rine
in the afternoon there was q fair average business
DONE and the general market closed quite steady Gale
ma quite active throughout the day. The price
opened "a advanced to 74 and closed in the after
7s3s bid The earnings for the second week in
October s5l $685. against s341s7 same week last
year; increase, Sl6ss6 The increase on this road is
equal to about SIS, 900 $4,000 a month Rock
Island opened at 643s, sold at and closed at 64 bid
The second week of October gave gross earnings equal
s2s 12G against s2 1865 week last year showing an
this year of 6,le0. We understand that con-
have been made and the bought for the con
nuaton Of the Mississippi and Missouri Railroad west OF
Iowa City; this VIII be an important feeder to
the Rock Island. Cleveland and Toledo declined
1881 closing at that bid The earnings for the first
fortnight OF October $34,7ls, against $685. 3l
fortnight last year 1t is to be remarked that
the reeht receipts on all these roads show large in
crease over last year. the decline being in the passenger
earnings against which the general poverty of the people
operates with marked effect Michigan guaranteed was
x higher in the morning, closing the afternoon at 1s1
bid Reading was dull; between the boards fell from
unexplained cause, to 37A and closed 3eI bid
We know of no cause for the decline which has lately
taken place in this stock Erie sold this morning az high
as ~ closing ~ bid The advance from 81 the share
to 81 10 is purely speculative, and has real basis
New York Central sold at soA the first board between
the boards at s01 and closed at S0sS bid The general
impression appears to be that this stock s sustained by
the efforts Of leading operator, who has generally been
identified with the bear party State stocks were higher
to-day Mssouris sold high as $50 In railroad
bonds very little done. The following were the
closing prices Of the day:-Missours, s4x S. Canton
TX IS; Cumberland Coal, 1917; Pacific Mail, 72
New York Central, sos II Erie, TX a q; Hudson
River, a5h SO; Harlem, sX u; do. preferred aez
y; Reading, sS4 371s Michigan Central, 42I a 49,
Michigan Southern, ~ 5; do guaranteed, 1eX X;
Panama, 123 Vi Illinois Central, Ga Nj Galena and
Chicago, TAX ~ Cleveland and Toledo 1872 "
Chicago and Rock Island, c4&a,z.
There large and important sale of bank and other
stock securities to-day, TO close up the of the late
James Mills in his lifetime President Of the Bowery Savings
Bank The securities sold reaAzed, general very high
prices indeed We note among other quotations sale
few years ago, SIS and $50 IT owes its present value
TO the in which the bank was administered by
the late cashier, Mr. Hector Morrison, who had the entire
management Of the bank his hands, the Office of pnesi
dent being a snecure.
by reference TO the law report in another column II
VIII be seen that the Of John A. Gray agt the
Michigan Southern railroad likely TO come before the
PUBIC IN tangible shape. Mr. Gray, we believe, sues
Tor commission on Michigan Southern bonds sold by
him While hs was treasurer Of the company a, a salary
OF $4,000 year Mr.. Gray has been an expensive
friend to this company.
The following plea is sad have been filed by the
Eric Railroad Company an answer TO the suit OF n
bondholder who sues for his moneys-
City and County gf Nelc Fork u-The answer NJ the
above named defendants shows this Court To the sey
eral causes Of action In the plaintiff complaint set forth
and 10 each OF said several ov action the defend
ants follows
First That the defendants have no knowledge or in
formation and belief whether the p utar rs the
and holder If the three several bonds In TIE three distinct
Of action In the plaintiffs complain tet forth, and
therefore contTovert these facts
Second That the said several bonds Instruments
under seal and that the defendants have knowledge
information and belief whether the said vera bonds
were transferred to the plaintiff by ins unfnen IN
writing duly assigning the said several boil OF W the
plaintiff and whether the plaintiff gave legal c, nsiiera
u or The same; and therefore the defendants onifo
vert these facts
.unauon and belief whether the several interest W "
an 70 each of the three several OF action
olsu nave been duly presented for payment, and pay
n'u, nas peen duly demanded and whether than