The New York herald., 1862-10-09
FINANCIAL AND COMMERCIAL.
WEDNESDAY, Oct. Sc p. N.

WEDNESDAY Oct. Sc p. N.
The money market is without change; call loans
range from TO per cent, and the best CONNER
cial names sell at about the same figures. Certif-
Gates of public indebtedness advanced 1s this
morning. perhaps from sympathy with other pub
lie securities. Money is pouring into Wall street
from all quarters for employment.
Bankers bills on London sold this morning at
1917, and at the close were sold at lSs. This ad-
vance was mainly due to the advance in gold,
which opened at l24l4 this morning, sold up to
l24A and l25, and closed at l25 bid. The heavy
shipment Of specie per Scotia to-day, amount
ing to.~sl 800 900, has led spectators to look
for further upward turn in gold within
q few days. II is evident that We shall
have to ship specie largely this fall and winter in
order to pay for our imports, which, instead CT
falling off, are increasing steadily. The only argu-
ment at present against further advance in gold
is drawn from the increasing confidence in govern
ment and government securities, which results
from the punctual and cheerful payment OF the
new taxes.
The bear interest, not discouraged by its failure
of yesterday, renewed its attacks upon the stock
market to-day. For the first time for several days
the period which elapsed between the two boards
enlivened by the circulation of several c0ndds
which were expected to affect prices. We
have to report, however, firm market at
yesterdays best prices, with the exception of
q few securities which are higher. Governments
in the first place, all better this morning
The 6s rose =, the 7.30 notes and all were in
active demand at the advance. Bonds were
generally very firm Illinois Centrals rose l
per cent, and Fort Wayne thirds L. There
was a SAFE, for the first time, of Mississippi and
Missouri land grants at 54. These are calculated
to become favoTitc bond They arc issued on
the extension OF the Rock Island Railroad through
Iowa. and will, in course OF time, take rank
with the Rock Island bonds. Illinois Central rose
this morning per cent Harlem u. Harlem pre-
ferred u. aad Cumberland l. The Baltimore and
Ohio Railroad will be rcopened within day
two and the Cumberland Coal Company then cx-
poets to share the good fortune OF the other large
coal concerns. 1t has been in the habit of earning
interest and expenses, ard sometimes some
thing over, by selling its coal at 50 70
a 81 81. 1t win now get 50 per ton for the same
COAL aud the demand is so active that with all the
force that can be set TO work il cannot be supplied.
THIS is the secret Of the recent heavy purchases oi
Cumberland. There was change this morning
in the Eries, New York Central, Galena, Toledo
or Rock Island. Notwithstanding efforts made
with vigor and skill to depress them, the demand
from outside sustained prices. large number Of
timd persons, fearing depreciation of the curren
cy and al! manner of unknown evils in the future,
are investing their gains in the bonds and
stocks of sound railways. Whatever happens
this kind of property will always exist
and earn some kind of income. Very considerable
quantities of Erie preferred, New York Central,
Rock Island, Gaena. &C., have been taken for in
vestment within the past few days, probably by
persons who have made money out of the
Between the boards the market firm, and
there was good demand for Erie, Harlem, Illinois
Central &C. At the second board the bears re-
Moved their attacks upon the leading sharcs, and
a decline of nearly per cent. all round ensued,
notwithstanding the advance in gold. The market
closed up unsettled, some operators feeling in
clined to follow stocks down with their sellers op-
tion, while others seemed disposed to take ad-
vantage Of the reaction to 60 in as buyers The
following were the closing quotations OF the day.