The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-11-18
The following table shows the course OF the
took market during the past week and month";

Oct. TO- Os 20. Nor 2. Nor. 0. Nor. IL
Nv ys'tasair. 8 x : * s
' leading. 35n 30 35h 3jX 341
y Michigan Central. so ASK 49, so 53.
south guaranteed 3Sk So 39x 80 4OI
G faa'n0as Central. S7x oSH OK e2x O.
S 5s,,ss,; ssx So az 81 s.
Pacific Mai...... osH elk Ss 0Sk o.;
y The course Of the market was upward last week
bun yesterday and day before there was grea'
deal OF realizing Purchasers Of stocks at prices
Q "a j per cent below those now ruling naturally
feen tempted to sell on the advance; hence pause
in thu upward movement. The reasons by which
the ad vance of the past three weeks is justified
! continne to operate with undiminished force.
Every day tile power Of the government is in
creasing. its capacity to crush out the rebellion
becoming more evident, and the hopelessness of
the rebel cause more transparent. On the other
hand, the traffic on the great Northern nnes Of rail
way coDHirAues to show marked increase over last
year, andit is clear tAat when navigation closes on
the nvcrs and lakes railway traffic muss expert
ence astiI further augmentation. The trunk lines
between New York and the West will not only
have to carry all tAe food that win be
wanted fcr export to Europe, but will
also he required to carry West all the
goods needed in that region. Hitherto the Misis-
sppi river has Supplied the Northwest with all its
sugar, coffee and large number Of oaher neces.
sary articles this year these goods must be sert
from New York by rail. Meanwhile the generay
expansion Of crnait goes on, and its effect is be-
coming gra iday felt. The public have taken
something lae s3c1s0O 900 of 7.3o Treasury notes
and $I3 900 0900 OF United States notes. The con-
sumption Of the former is at the rate Of about
million day, and OF the lattey Mr.. Chase will
probably float the SCI 900 900 still in his hands as
rapidly circr instances will allow BY the Int Of
January over one hundred millions of Treasury
notes. Of one kind or another, will De' affsat To
suppose THAT this addition to the circulating
metliun will not exercise an influence upon the
price " all articles interchangeable for money is 10
question the most elementary principle of pslitioa
economy.
Among the securities which have been, most
popular among spectators during the past week
may be elLmeya ted Missours, New Yorl7 Central
Erie and Erie p refrred, Rock Island, Galena and
Tbledb! Msso8E is are being chiefly bought on the
theory ttaA in II e course Of year or two they
must rise tO feis ,old value. The issue of the war
must render Misso, ri, toal practical intcnts and
purposes kee Sta te.- Asa free State its present
debt-some &25 OK ,OtO,, first mortgage or lines
of'ralyay which IN We cost $a5 900 900 to build
will be quite small, AMI will naturally rank with
thcftats dSbtb of o. io and Illinois, People who
can afitxdto Me out OF their money for year or
two will probably eane very large pro6son
purchaser Of Nilsson ris at their present price,
New York CenA1al is lys bought, it is supposed,
for the Albany rarty. should the present large
traffic. lad 10 an inc 7sase in the February
dividend, there would 20 a fair margin for
an advsneev. Erie is marging from the slough
Of disereait into whic b. ID was plunged undesits
SIS 000a Year president, and bids fair under the
reorganization, TO resun ia place among dividend
paying pEoueriies. It is now easning dividsnd i
on the common stock, after pairing per cent !
annually IA. tho preferre shareholders. Whether
the scrip be funded or nct,sthe dividend on the
preferred stock cannot long DO desarred, ri spec
uators will probably be- desling in is befol . many
months elapss at the rates which, former ly ruled
for the unsecured bonds which il repr, SCENTS
viz: from 20 to 80 per cent. Tho oommoi stock,
which has always been fay 'ritc with spec ulatcrs
will probably again enjoy some measure popu
l1rity. A, three per cert anRual di viderd
which it is- not unreasonaj,s.to expect, would
make ID worth considerably moro than it con-
faands at present. With regard to the West
ern shares distinctions MIST BIO draw. ALL
he roads running east aId. was5 viii do
large freight business during this winter. The
roads running north and south, like the Illinois.
Central, cannot expect much traffic, and decline
n the earnings must be taIonfor granite d. The
(salena declares dividend this week; the .hcago
Burlington and Quincy will pay.one in Jan uary or
February; The Toledo will probably rcsu ne dvi.
dends in the sp.ing; the Michigan Sontt ern will
probably have something to divide next v ear AS
to the Eock Island, nothing can be said with any
degree Of certainty. Public confidence has been
so shaken in the administration OF this proparty
that the public not lkelyto invest the ir money
in it, especially it is understood that Il &c primer
pal dirootor-Mr. T. G. Durant--is, about to leave
for Europe. The price Of tt,e@toe1 has advanced
| of late, but it is suspected that the aiwansc is
chiefly iue to the purchases Of spaculatois either
| in the board or connected with the board Of di-
rectors. The road is well managed by Mr.. Tracy
| but WIZ. maneuvres may he.oR the carpet in the
| stock 10 can tell.
/ The associated bankers haid meeting on satnr-
day to receive the report Of their committee On the
merit of the government ioan, and the foil owing
4 was unanimously passed.
Resolved That t.e of The Secretarv &c the
Treasury fifty million dollars OF twsnty years per cent!
bonds II par equivalent rer cen. bouds. Tia exist.
ing option Tor NIFTY nllon dollars or $40 pof cents
Y three year bonds, which VIII expire LIST Deeember
4 proxrno being extended until LIST January next.
An opinion appeared to 90 entertained ~ soma;
bank presidents that tia bonds should be sterling
bonds payable in Europe; but on referenc s,to Me-.
Chase we have reason 70 believe that he was de-
cidedly aysTse to accepting the money on such,
conditions, as being eerogasory to the interests
and honor Of the United Statas, and the notion was
accordingly dropped Some OF the ban.;a seemed
to desire to take ths third City million,of Unaed
States 730 Treasury notes at once; busthe rnaiS.
risy thought it better that, the a.ed banks
are to be the intermediary between tho,pable and
the government for oil the loans to be negotiated
during the war, they should be supplied at once
with each class O; security.
earninra ~ the EriH Railroad CO.. L. .a~=Aa