The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-11-01


The stock market opened with considerable
strength this morning, and Q small advance was
paid before the board upon the best prices of last
evening. On the call, however, the tone Of the
dealings altered, and the morning session closed
with quite heavy feeling. Between the boards
lower prices were accepted in almost every case;
in the afternoon further decline took place, and
stocks closed heavy. The market was hurt this
morning by decline Of per cent in Virginia SIS.
Various explanations are given Of this very unusual
event; the truth, probably is that some stock which
had been hypothetical to Lee & Co.. Of Baltimore,
was sent here for peremptory sale, and found no
immediate buyers. A rumor in one Of the papers
to the effect that large quantities OF Virginias
were about to be sent here from Richmond
contributed to check purchases. Whatever happens,
politically, it is probable that the Commonwealth OF
Virginia will pay her debts; but for all this, If we
are to pass through long and critical struggle,
with possibility Of disunion at last, II II not likely
that Virginia 6s or any similar security will be
favorable investment with capitalists. Missouri
and other State stocks were steady. The busne
done in railway shares was quite large prices
opened pretty strong, but fell of about per cent
all round by the middle Of the day; in the afternoon
things were still lower. 1t is understood that
large quantity of stocks we're sold per account Of
Mr.. Van Setback who failed last week; but for
this the market might, perhaps, have been higher
this morning. The stock and bonds Of the Michi-
gan Southern Company were unfavorably affected
by the non-payment of the bonds due tomorrow.
Hudson River was stronger it sold at593 and closed
at 5ss bid. Erie was likewise in demand, selling
at 81 but closing at 80 bid. The following
the last quotations of the day. United States
SIS 1874, 1921 4; Indiana State, 81 %; Virginia
6's, $50 4; Tennessee SIS, 81 al; Missouri 6's,
76i 4; Canton, ia a Is; Cumberland Coal pre-.
ferred, l0i; Pacific Mail, 92A 80; New York
Central, s2A &; Erie, 80 /; Hudson River,
$50 SO; Harlem, l6A Z; do. preferred, All q q;
Reading, All AZ; Michigan Central, 62 a 4;
Michigan Southern and Northern Indiana, la q 4;
do. guaranteed, 50 l; Panama, l23 a ia; I'LL
nois Central, 72a 4; Galena aud Chicago, 70i Z;
Cleveland and Toledo, 33i Z; Chicago and Rock
Island, G3l GA; Chicago, Burlington and Quincy,
So; Delaware, Lackawana and Western, 9l Illinois
Central bonds, e2l 90; Delaware and Hudson
Canal, "a a a5.
We understand that the Atlantic and Great
Western Railroad Company have negotiated a
million Of bonds in England.
The meeting Of stock and bond holders in the
Milwaukee and Mississippi Railroad Company,
held this morning, ratified the arrangement made
with the city Of Milwaukee, so that there Is now
no obstacle to the reorganization. We learn that
about three-fourths the bonds Of all descriptions
have been already surrendered.
The June annual interest, due November |, on
the third mortgage and convertible bonds of the
Hudson River Railroad Company, will be paid to-
morrow, as usual, at the Office Of the company.
Nessrs. Barring Brothers have made the Grand
Trunk road keepers" and agents for the rolling
stock which will be continued to be used as hereto
fore for the traffic Of the road.
On Tuesday Of last week the lands franchises,
Sc. Of the Southern Minnesota Railroad Company
were sold, in accordance with the advertisement OF
foreclosure made by Governor Ramsey. They
were bought by the Governor, who bid 81 900 on
behalf Of the State. This is the last OF the foreclo
sures against the several land grants, and places
them all again within the control Of the State.
The following table shows the condition Of the
banks in -four leading cities;-