New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-10-04
FRIDAY, October 81. N.

FRIDAY, OCtODcr o-f W.
The present movement in the Stock market has
seldom been exceeded in intensity at any speculative
period and no Stock movement Las ever extended
its notifications wide spread throughout the com
muniiy. The abundance OF money, which j! 10 Diff
cult TO use probably in legitimate business, has
forced capitalists TO look elsewhere for employment,
Of their funds, and the Stock market has naturally
become the outlet for the surplus financial vgor Of
the country. All classes Of the community who
have money have come in 10 swell the advancing
tide Of speculation, and the elasticity which the
market exhibits after each slgh, reaction gives opcr
aiors great confidence TO hold steady for the next
rise OF to come in again after realizing profits The
movement in railway shares and bonds ia mainly
based the vastly improved condition Of the prop
eny they represent. Many Of the roads have bad
large amounts Of debts and other ombsrrassmenis
wiped ont under Gales and other reorgsLatons, and
the ttocks and bonds represent the fair value Of
the property value upon which dividends can be
earned and all Of them show largely increased profits
in working and a prospect Of dividends. Under
this improved condition and the large supply
of unemployed capital the majority OF shares and
bonds are comparatively 40 higher than they
were two years ago. Those Of the poorer class have
passed through their struggle for existence, no
longer IN eztremis paying 20 TO 30 per cent annam
for carrying their floating debts and have converted
large amounts Of funded debt into stock and income
bonds. To-day the market opened firm, with An nd
vancing tendency toward the close, the best class of
Stocks and Bonds improving +. al Y cent, closing in
demand. Encouragement Is undoubtedly impaired
by the late action Of the loyal Governors, well rs
security felt in the lately displayed yigor Of the Gov
ernmeIi, as noticed in immense naval preparations.
and the continual forwarding Of troops. The i'm
proved demand for the Federal Issues the test Of
this growing confidence impartng healthy tone to
the late ri,e. Governments were strong, tho 1881
Loan at l0il the advanced bid Of % was made for
IS Of II and "a; Couponsof 1874 92idi. Demand
Notes were of v cent at 1891. State Securi.
ties were in demand particularly those of the Border
States caused by improving military news from that
quarter. Tennessee Go advanced 9 cent $50 5i; |
Missouri &c, y cent TO 81 a52; California Re, y
cent, llOi9llOi; 1891 offered for Minnesota 81.
Gold with transactions Of some $50, 900, was unus-
ually steady at yesterdays prices-l22i al22l. Pa
cifc Mail improved v cent, l22 ORR. Railway
Shares were firm, with an increasing do |
mand the most marked advance being q |
rice of II y cent in Erie, old, at 52952I
and in Hudson River, CGi aGGt; y cent In Read |
ing, 73i a74 9 2 cent in Cleveland, Columbus and |
Cincinnati at l3l. Toledo opened at 70i, but under
strong purchases advanced to 7Oi with that bid at
tho close. The only exception was In Cleveland
and Pittsburgh, which fell of / y cent To 3li as.
Chicago Burlington and Quincy has takea its old
position OF solid investment stock, being quoted at
1901 l0l. Bonds were also stropg-advlnces oc.
curing in Michigan Central (od), l099llO; tho new,
ll3all6; Illinois Central v cent, 1881 1885, |
Chicago and North-Western LIST, 80aS2; IstAssented,
63i col; 3D. 3ja3Ji. Immediately after The ad.
journment, stocks in more demand, tho bidding
being quite spirited at further advance Of v cent.
At the Second Board, there was a very excited and
buoyant market, which continued up to lae hour
in the street, when there was slight reaction Of
v cent. Old Eric was tho most buoylnt stock,
selling az high as So against 50 in the morning The
Preferred was s.. Michigan Southern Old was also
very active, a sale Of 2 900 shares being made at
40--an advance Of i! v cent from yesterday Cen.
trail sold at 1913; Michigan Central, 81, &c.
After the Second Board there wac still large OK
element, with a further advance in some Of the
fancies. Purchases Of 1900 Central were made at
los, and 1000 Old Harlem at %. d231 Toledo was
72a72I, with largo purchases. Illinois Central
bond scrip sold at 60. If this scrip is worth CO. the
regular stock of the Company il worth par, % the
former il only entitled to equal cash dividends, while
tho regular stock 10 entitled TO dividends representing
the bonds Cancelled with the proceeds of land sales
The scrip alluded to was Issued Tor such dividend