The New York herald., 1863-09-24
FINANCIAL AND COMMERCE.


There is 40 change in the money market. Lead
ins houses are freely supplied with money at per
cent, and spectators pay 7 without hesitation.
For balances left in the hands Of brokers by their
customers a per cent is allowed. Speculation
is not active. and there is not much inquiry for
money. Commercial paper is quoted 51s 6H for
the best names. Debt certificates are u of one
per cent lower.
Gold opened at 1873 this morning. rose to 1854
fell oi to 1871 on the more favorable news from
Rosecrans, sold at 1874. 70. Il. ss in the after
noon. and closed at 1879 at fve +. M. Exchange
was i5i "A, with very moderate inquiry. The
recent advance in gold has stimulated the export
OF breadstufs, which has increased the supply OF
bills. We should be shipping si'l larger quantities
if the supply at this point were larger. The mer-
camille public. rule, disbe'ieve all the stories
about foreign complications. and seem pretty gen.
orally satisfied that no temporary reverses or re.
pulses will avail to check for any length Of time,
the steady progress Of the Union arms.
The stock market was lower again this morning,
mainly. as it seemed, ON pretty general notion
that there would be no extra dividend on the New
York Central. A week ago everybody was salts
iied there would be dividend. and wanted to buy
Central at lH. To-day everybody was convinced
there would be no dividend, and wanted to sell il
at lbs 1876. Practically the real question would
seem to be not whether there will be i dividend
or moi, but whether the company has or has not
the means of declaring an extra dividend of IA
per cent, il it be deemed by the managers wise to
do SO. On this point there seems to be no differ.
ence of opinion among well informed persons, and,
under these circumstances, the fluctuations in the
stock may safely be left 10 correct themselves
This morning at ten o'clock the price was 1871; at
enc P. n. l3S, and at the close of business 1854
At the FIRST board the market was generally lower
Erie fell of u and Erie preferred "a. The
quotations per China show no decline in London.
Michigan Central fell of 4, Southern old a, Pitts.
burg q. Rock Island 4, Prairie du Chen 2, Fort
Wayne !, Chicago and Alton ~ Hudson River
jumped up 4 per cent, with considerable ex.
citement. Guaranteed Southern was also better.
Illinois Central, Reading and Terre Haute were
steady. Pacific Mail was without change. There
was q sudden decline Of per cent in Quicksilver,
without any known cause-probably one Of the
violent fluctuations to which that mercural stock
is subject. Bonds were steady and without change.
Governments firm. At the close of the call the
market was decidedly heavy, and lower quotations
were made on the general list. The feeling at
the one J.. NJ call was one of dulness; but at the
decline there was good inquiry for New
York Central and Erie. After the call better
tone prevailed, and rally of Il "A per
cent took place. At the second board e
market was all "A % better. The hrmcst stock
on the list was Hudson River, which sold at l47
against lao last evening. Rumor states that the
old clique in this stock are preparing new twist
for the shorts, large bear interest having been
created on the theory Of a consolidation between
| the Harlem and New York Central. The prospect
of an extra dividend likewise stimulates the mar.
ket 1t is said that the surpus--about equal to 80
per cent on the stockwill be divided in the shape
of scrip before the lst November, on which day
the third mortgage bondholders become entitled ia
convert their bonds into stock. After the call the
market was quite strong Erie was l07 New
York Central 1857 1856, and so on throughout
| the list. At the four p. NJ. board the market was
| inactive. There great desire to do busi
| ness either way. This being the Day Of Atone
ment, many prominent members Of the publ
board weie absent. The following were III
claa nfati off fIa dox