The New York herald., 1864-10-07
FINANCIAL AND COMMERCIA

THURSDAY Oct 6-P
Tue stock market without animation at the open
log the ng and the extreme advance
OF last evening sustained but as the can pro-
gressed the bidding became active and closed oaoSa
compared with the yesterdays second board
Erie the drsr hoard 3s, New YORK Centfa
~, Hudson River 2, Reading s. Michigan Southern Ak,
Michigan Central 2 Wayne g. Illinois Central 5h
Cleveland aud Ptsburg 10, Chicago and Northwestern
2k, preferred s Chicago ard Rock Island Az Buring
son and Quincy y Milwaukee and Prairie du CHEN 8.
In the miscellaneous list Ohio and Mississippi certih
Gates advanced az, Cumberland Coal X, Quicksilver ~
Canton Company ".
Government securities showed improvement, but the
transactions small. Coupon 6ve-twenties sold At
Io6H, coupon skies Of 1891 1866 coupon tenores s5K
%, ore year certificates e4S a.
State and railroad bonds were In moderate
quest bank shares were neglected.
After the board there increase1 activity, under
which quotations advanced Fort Wayne, Illinois Cen.
tra and Chicago and Northwestern excepted which de-
cned. AT the open board, O'Clock, the advance
was partially lost.
At regular board the market lost Its buoy
anoy under the effect OF sales and desire to realize
but, compared with the quotations the first board
the Improvement In all but OF the Western stocks
very marked. Erie advanced 2,. New York Central
Ix, Hudson River A. Reading ~ Mchgon Southern e,
Cumberland Coal 81. Illinois Central declined ", Rock
Island az, Fort Wayne la, Cev sland aud Pittsburg ~
Government gold bearing securities were firm o. a
fractional advance Coupon fvetweuties sold at lo6X
q 1867.
Al the open board, At ha-past three the market
generally better but quotations Afterwards slightly IA
vored buyers,
The gold market showed considerable speculative &C.
tvity, with upward tendency The opeppg quotation
1924, followed By steady advance TO 1857 Then
reaction TO 1914 took place After this it 1875
then sank to 1851 from which 1t advanced rapidly to
1es, drop OF one per cent succeeded and
At q quarter to five p. NJ. the selling price
ls6K. The rumor that General Grant was In
Washington and the large additions to the volume OF the
currency during the month Of sepem ber operated n IA
OF this advance the inference being that if General
Grant away from his army there probability
OF immediate movements leading TO the capture OF Rich
mond while the larg paper issues strengthen the dspo
stiou, chronic Wall street. discount the future
The 'sbuls" have been the WHOLE jublant to-day,
AM grotesque musical party composed OF blind dders
old women and young children, mounted wheels,
amused the denizens OF Exchange place by playing
funerai direes In front OF establishment supposed
90 be largely the t'bear"' interest Tho principal
chariot used for tho huge old bone box
belonging TO 'bore iabratory,'' and ngurativey de-
signed by the wags who It. TO receive the
OF the bears who however, 'ddn't it," Wall street
enjoys its joke practical otherwise, and aoaa-
uoneo scu ana railway shares 10 lock on sarcasm in
bore box.
Opinions 10 favor OF somewhat spasmodc. but
The whole rising, market during the next three
days. As the fall Of the previous week was extremely
heavy strong reaction was natural consequence, 10
sho absence OF further decline gold. The bulls have
therefore, taken courage and tho market and
their operations for have been assisted by many
sbe bears, who rushed their sales
options TIE stock market has sympathzsd very
lively with gold the heavy fall in the premium be-
gan and the general temper Of the
only necessary to consult the quotations for
cie Formerly the markets entirely independ
ent OF each other.
impossible 10 ignore the effect or the paper issues
OF the country in permanently sustaining gold higher
premium than il ought 20 have been allowed to
reach and hence the necessity for redcing the
OF the large volume in circulation anountn, IN the
aggregate TO more than nine hundred millions CT this
immense aggregate s5s 576 400 September 80 in
the form Of Treasury On the 3si OF Ausus,
and during the month OF August the Issues were
BI,s $50, rearly ten millions, the prota-
bilHy is that their currency issues have bee,
Increasing in the proportion since that time
or new banks are beng RAPIDLY organized all over
he country The circulation the State banks that
portion = The corrry affected by currency was il
July 1885, Si52 SO 400 ond there considerable
misunderstanding hi hecs appcud the follow.
ur details apd cOnpafison:-