The New York herald., 1862-09-20
FINANCIAL AND CONNER CiAL.

FRIDAY, Sept. 1916 p. nj.
Money goes begging at per cent per annum
on call. Certificates of public indebtedness sold
at 80 this morning. Mercantile paper of the high
est grade sells at a per cent. Demand notes
rose again to-day. At the first board they COM
manded ll2H1I, closing this afternoon that bid.
They are rapidly approaching the price of gold,
and are not abundant. Whether the government
is buying them up we are not informed.
Exchange dull to-day, and fuctuated be-
tween l2s and "a. Gold opened at ll7A. declined
to H. sold in the afternoon at ll61s. and closed
1867 bid. The various and conflicting rumors Of
the day have kept the spectators in gold in
fever of excitement, and the fluctuations have
been lively. decisive success would probably
cause gold to decline to Ito liz, while decided
reverse would be pretty sure to put 1t up to l20a
l25. Of all securities, the most sensitive, beyond
question: is the currency Of the country.
This has been very exciting day in Wall street.
At the opening of business this morning operators
seemed discouraged, and there was tendency to
sell stocks and buy gold, on the non-confrmation
in the morning papers, of the exciting news OF
yesterday At the close of the first board the
market was dull but steady. About one O'Clock,
however, . sudden development Of speculation
broke out Everybody seemed suddenly seized
with desire to buy stocks, and an advance of
l per cent in the leading securities was imme
diately realized. 1t was popularity supposed that
some shrewd operators had obtained early news OF
a victory in Maryland, and every one wanted to
participate in the profits of the expected rses For
some minutes the street was more excited than we
have ever seen it. Just as the second board
opened there was q luli in the excitement, and
prices were q shade easier. The board had hard
ly met when General McClellan's official tele-
gram, announcing the victory and the retreat O.
the rebels across the Potomac, was received and
read. At first this intelligence was coldy re-
ceived, as many operators really expected to hear
of rebel army, perhaps over 100000 strong,
being "bagged," to use the common phrase, and
prices did not respond. After the lapse of q few
minutes, however, it began to be believed that
the expulsion of the rebel armies from Maryland
and their pursuit into the northern desert of vir-
ginia constitute most substantial success, and
which will probably prove ultimately fatal to the
pretensions of the rebel confederacy. These views
led to renewal of speculation, and prices of all
descriptions moved upward rapidly. Erie pre-
ferred, which has lately been the most buoyant
stock on the list being classed by many operators
among bonds, and not among stocks, advanced to
II, having sold at rs in the morning; governments
were firm, and the general list was considerably
higher. Comparing the closing prices of the day
with those of yesterday, we note an advance of ~
in Erie preferred, in Reading, Michigan Gen.
trail and Toledo, x in Erie and Pacific Mail, u in
guaranteed, Il in New York Central, ss in Illinois
Central, n in coupon skies, Tennessees, Rock
Island and Burlington and Quincy, and Il in regis
tered sixes SIS Of 1874, 7.30 notes and Missouris
The market was strong at the close, the following