The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-10-19
FINANCIAL AND COMMERc GAL.
FRIDAY, Oct. 1915 P. N

FINANCIAL AND COMMERCIAL
>~~~~>>~~~>>~>c~~~~~>~oo~~
FRIDAY, Oct. 1916 P. N.
The money market is dull the supply is large
Mt per cent, and many borrowers obtain all they
want ats. First class paper ranges from to
per cent, but there is very little of it in market,
and parties who used to be buyers have now turned
their attention to Treasury notes.
Foreign exchange was unusually dull to-day
Bankers asked 1919 for bills London, and 5.35
for bills on Paris but at these rates there was no
demand Every one has a few bills for sale, and
the prospect is therefore, that rates will decline
The import of dry goods for the week-$5sl ,l72'
against 81 ,G35, 1867 same week last year, ana
$l,0ll $40 same week of iS59-docs not presage an
upward exchange market, especially as the bulk
of the foreign goods which are imported are selling
ut prices which net the importer loss
Stocks were generally better to-day, as
was natural after the panic OF yesterday.
On second thoughts, operators do not
seem to perceive so much gunpowler in Mr..
Stewards letter they did yesterday, and it is not
thought likely that the European sovereigns will
want to go to war with US while we are feeding
their people. Holders of governments re-
fused to sell, this morning at yesterdays prices
the registered stock was held at 50 and the coupon
at 95. Sales of the registered were made in the
afternoon at %. Missouris rose "a, with large
sales, and North Carolinas H. All the railway
shares were better at the first board New York
Central rose "a, Erie u. Hudson a, Galena l,
Michigan Central q Michigan Southern l. guaran.
teed ~, Toledo "a. and Rock Island II. The
most active stocks Of the day are Toledo Erie and
Michigan Southern, which appear to be more popu-
lar with spectators than higher priced securities
Is having larger margin for an advance in the
event of general upward movement. Galena is
very firm at rise of one per cent over yesterdays
price, We learn that the parties who have taken
the new issue Of bonds in renewal Of the maturing
Grst mortgage have lodged security with one of
our city banks for the fulfment of their contract.
The Erie earnings for September show falling OF
in consequence Of the foolish fight with the Central
which was settled week ten days since. But
for this, and freshet which occurred in the early
part of the month, a handsome increase would
have been shown. The export demand for bread
stuffs will test the advantages Of the long dock
pretty thoroughly this winter If it fulfls the ex
pectations Of its friends the property will be in a
very different position by next spring. The Mich-
gan Southern is doing very large business, and so
is the Toledo; parties interested in the latter talk
confidently Of o resumption of dividends before
drives the rebels out of the State. If he should
give battle to General Price, and defeat him tho
roughly, it would be safe to look for large adj
vance in these securities. After the board to-day
stocks improved. For Erie s21a was bid and Sc
for Toledo. At the second board everything was
from "a q per cent better, and the market closed
firm, the following being the last quotations.
United States e's registered 1884, SO 90; do. 6's
do "a
Virginia 6's, 46 o At; Tennessee G's, 431I a x;
North Carolina 6's, SO a co; Missouri SIS, As n
Pacific Mail, % 4; New York Central, 1874 a -;
Erie, 3211s q; do. preferred 511s a 5e11s; Hud
son River, 374 X; Harlem, 10 Il; do prefer
red, 50 u; Reading 1914 "a; Michigan Central
50H 81; Michigan Southern and Northern Indi-
ana, 1917 10; do. guaranteed, 80 II; Panama,
lis III; Illinois Central, 67M a a; Galena and
Chicago, 714 II; Cleveland and Toledo, 3GsG
q; Chicago and Rock Island, 5l1s n; Chicago,
Burlington and Quincy, 631l Ga; Delaware, Lack
awana and Western, "A u; Milwaukee and Prairie
du Chen, l71a a. s1S; Illinois Central bonds, rs,
89I "a; Delaware and Hudson, IS Sc; Pennsyl-
wanna Goal. 7s a "a
1t was announced to-day that the bank com.
mittee which was directed to negotiate with the
Secretary OF the Treasury respecting the per
cent government bonds had been informed that
parties " Europe are willing to take these bonds
($l00 ,000 D00) at rate which would make the
money cost only 6T per cent to government
There was, OF course, no truth in the story 1t is
expected that nothing viii be done with the third
FIFTY millions till lst November. The banks paid
into the Sub-Treasury this morning 81 100, 900 on
account Of the first loan, making altogether 50 per
cent of the s35 100000 paid up. Mr.. Cisco REIN.
bursed them 100000 which makes about As per
cent of their subscription that has been returned
to them. About $500, 900 was sent of in coin to-
day to Cincinnati and st. Louis under crcum.
stances which lead to the suspicion that it is for
the use of the expedition which is to descend the
Mississippi The popular subscription continues
lively. AT the Sub-Treasury to-day the business
was:-
Tossi receipts. 4s7 30
Treasury notes, including redeemed az per
cent notes .....................-.... 587 $50
Payments. ..."................2 ,n5, OPS 81
o@iSnce ,iZ4 DAY rs
The exchanges at the Bank Clearing House this
morning were $ls, ,996 03, and the balances
$l,796 sol AZ.
The Pennsylvania Railroad Company have de-
clared their usual semi-aHnual dividend of 8 per
cent clear of State tax, payable to stockholders
on and after November Is, 1861.
The earnings Of the Erie Railroad for the
month of
September, 1891. were. s519 $40 II
September, 1860. Sss,34i SO
Decrease s7s, 7e2 10
This decrease is partly due to the freshet which
interrupted business, and partly to the quarrel
with the New York Central road, which is now
arranged.
The following sales Of stocks were made at auc-
ton to-day by Adrian II. Muller, by order of