The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-11-09
FINANCIAL AND CONNER GAL.

FRIDAY, Nov. Sc p.
The money market grows easier again; some OF
the call loans at seven are being paid off, and re-
newea at six. 1t seems to be the prevailing opn-
ion among financial men that so long as the govern
mcnt borrows all it can get at 30 100 per cent
money cannot rule far below that rate in open mar
ket 1t is not probable, in effect, that money will
fall below six per cent for the present, and the
prospect Is that lenders will be enabled, every now
and then, to mark their loans up {, seven Having
the certainty, however, that money will be album
dant at these rates merchants and spectators give
themselves no concern about the money market.
Foreign exchange took another upward turn to-
day, and closed firm at 1927 y for bankers
bills on London, and $50 3lI for francs. The
amount of business transacted for this mail has
been small, and in view of the closing of inland
navigation bankers are unwilling to draw more
than they can cover at onee
There was more activity in the stock market to-
day, and prices were generally higher. The news
from Belmont, Mo-, and from Port Royal, though
not as decisive as might have been wished appear
ed, nevertheless, to exercise a cheering influence
upon spectators. still more substantial reason
for the advance is the scarcity of stocks
1t was understood this afternoon that the
bears had failed 20 make their deiycries
in Erie preferred, Burlington and Cnincy, and enc
or two other securities and that they had soue.i.
and, obtained indulgence until tomorrow The
most active stocks of the day were Toledo, which
rose Is; New York Central which rose "A, and
Eric which rose %. Comparing the prices cur
rent at the close Of the second board this after
noon with those which ruled at the same hour yes.
terday, we note an advance of "A in United States
SKIES, registered, and u in the coupon stock, Il
in Mssouris, u in Erie preferred "a in Hudson Il
in Reading. "a in Michigan Central X in Pana.
ma, x in Illinois Central u in GaIena, X in
Rock Island, and "a in Burlington and Quincy.
Nothing declined to-day. Pacific Mail and the two
Michigan Southern stocks were steady. AT the
close the market was firm, with rather mere act
witty. The following were the last quotations.
United States 6's, registered 1881, "a a u; do.
6's, coupon, 1881, "a Il; do SIS, 1911 's4A q;
Indiana 5's, - so; Virginia 6's A. a As; Tonnes
see 6's, AZ "a; North Carolina $, 60 a II: Mis-.
souri, 6s, 4394 3; Pacific Mail, 9sa4 80; New
York Central, 70 q; Erie, 3224 SO; do. pre-.
ferred, 5S1s "a; Hudson River 40 40; Harlem,
l2la l3; do. preferred, 1921 SO; Reading, S5%
80; Michigan Central, 501a q; Michigan
Southern and Northern Indiana 1874 49, do qua
rantced, 80 tt 4; Panama, 1851 a II9; Illinois
Central, 62a4 g. Gaena and Chicago, 70 a u.
Cleveland and Toledo, 367a 81; Chicago and
Rock Island, 531 "a; Chicago, Burlington and
Quincy, 65H a G594; Delaware, Lackawana and
Western, 20; Milwaukee and Prairie du Chen.
20 q; Illinois Central bonds, rs, IS u: Della.
ware and Hudson Canal, S21s So; PENNSYLVANIA
Coal, IA ais.
. The importation Of dry goods for the week end
ing to-day foots up 1851 ,565, against 81 1861
same week last year and 81 $40 ,9s2 same week of
1859. OF the importation of last week trce-fourt
are woollen goods, partly, we apprehend, clothing
for the army. OF woollens, worsteds and blankets
there was inspected $4,000 worth. 1t is under.
stood that the wooden manufacturers of New Eng
land, foreseeing the demand for blankets which
would arise this winter for the army, combined to.
gether some time since, and refused to sell eXcept
at an exorbtant profit This nefarious scheme
whose authors in some countries would have been
hanged by an outraged people-has been properly
defeated byjudicious purchases of foreign blankets
made by the agents Of the War Department. It is
to BIO hoped that no narrow-mnded prejudice or
fear of offending the graspng manufacturers of any
section will prevent the government from buying
blankets for the troops where they can be had best
and cheapest.
The stock of the Milwaukee and Prairie du Chen
Railroad {the old Milwaukee and Missis ;ippi) ia
attracting some attention at present. The earn
ings of the road for October amounted to SIT $40
against sl63 ,6l5 same month last year-increase
sli ,263. For the ten months ending 3lst October
ult. the receipts were $780, s2 against 1904 O36
for the whole year ls60--increase (withont count.
ing the months of November and December, ls6D.
$3.50, SAG. Under the new reorganization this road
had but SAL 055 interest money TO pay last July: in
January, 1862 SIT $50 interest on the mortgage will
be due, and the company is already discounting its
coupons. The first preferred stock, amounting to
81 ,lOo0 900, is entitled to per cent after payment
Of expenses and interest; the second preferred
amounting to another like sum, is entitled to ne
cent on the same conditions. Since the reorrani.
cation, large sums have been spent on the road
Over 500 tons OF and rerolled iron have been
laid on the track; the pile bridge across the lake
at Madison has been filed in with stone and earth
new eating house has been built at Madison.
several new water stations erected; much fencing
and ditching done; several locomotives rebuilt and
new cars purchased; various payments have been
made for unsettled right Of way the Milwaukee
station enlarged and new side track laid Not.
Nithstanding these outlays, unless unforeseen
occurrence should divert the net earnngs there ia
lille doubt of dividend on the second preferred
STOCK. IL might probably be shown to have been
earned already; but by the conditions of the recr.
gannttion dividends can only be declared yearly,
on pa me't Of the interest an ths n,nrt,aoa