The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-10-28
FINANCE AND COMMERCE.
OFFICE OF TIIE EVENING rELEaRArH,
L--L.- n..A.h..-

Friday, october y.
Yesterday afternoon, after we went TO press,
the Stock Market, particularly in Reading, took
violent surge upwards, and large purchases
were Iaade of the stock at 65@65d, atwhich latter
price the market closed.
We have fairly posted the readers of this article
as to this movement, long before it was deyel-
oped, as the facts on which the present rise is
inaugurated were in our possession two months
ago. In the meanwhile the parties who have
engineered the rise have been quietly absorbing,
by purchase the cash certificates and when the
stock was at the dullest, were buyers. The ex-
| tent of this movement has been fairly foresha-
dowed in these columns; and if any reader OF
The TEIEoRAPH has sold stock in defiance OF
plain warning, we are absolved from all resPon-
sibility. In game so gigantic considerable time
must necessarily elapse before the development
and between this and January we expect to see
Reading touch very high figures, simply from
the enormous earnings of the road, which will
now come to the shareholders.
At the Fifth Avenue Board last evening" the
transactions in Reading were very large. Some
10000 shares, a telegraphic despatch to the
Girard House informed us, we're bought by the
old house of Prime, Ward & Co. If this should
u
is the recognized agency for the large English
house which is SO heavily interested in the for
tunes of the Reading road. The stock closed in
New York at G53 bid at 10 o'clock p. NJ. The
price here, later in the evening, was &C. rise Of
per cent since tue carly morning sales This is
something in the old style Of Reading in the
rapid advance, under public orders, which pour
into the market periodically, confounding all
sober calculations.
The market in the Board this morning, in
Reading, is rampant with free purchases at 81.
The Stock Market is active this morning, and
prices are better. Government bonds continue
firm, with sales Of 6s Of 1851 at l054(9l l06i and
new 5-2Os AT 1904 1905 are quoted at lO59lO6
In Railroad shares there is more doing. Read
| ing, as we have noticed for several days past,
continues excited and strong, with large sales to
notice at 6Gi i067, an advance of ID Pennsylvania
Railroad sold at 69I; Northern Central at 81
Norristown Railroad at co. Minehill at 59i Cata
wissa preferred at 38Q3si, which is an advance
and Philadelphia and Erie at 3l4, an advance o.
J. 45t was bid for Little Schuylkill Railroad
3OI for North Pennsylvania; 50 for Elmira pre-
ferred and Ga for Philadelphia and Baltimore
new City Gs are selling at l02@l02t, an advance
of4.
City Passenger Railroad shares are unchanged
Spruce and Pine sold at 81; 10 was bid for Arcl
Street; 20 for Green and Coates and 20 for GrarC
College 70 was asked for Second and Third 81
for Tenth and Eleventh and So for Chesnut and
Walnut.
There is more doing in Coal Oil shares, anc
prices are steady, with sales of Maple Shade al
l7(als, an advance of 2; Noble and DeamsnteI
at lOBi McCIiRtock at g. Perry at a. AcElheny
at Ga; aud Egbert at q.
Bank shares are firmly held, but there is little
or nothing doing in the way of sales. l6S was
bid for North America 291 for Mcchanics' 81
for Kenslngtoni 2Si for Manufacturers and
Mechanics; 55 for city 4S for Commonwealth !
| and 46 for Union,
Canal Shares are more active, aud prices have
advanced, with sales Of Schuylkill Navigation
common at 20, an advance of Schuylkin NaVi-
cation preferred at S9@39b, an advance of II and
wyoming Canal at U.s. l5s was bid for Susque-
hanna Canal; 9Sl for Morris Canal common
and 76 for Lehigh Navigation.
The Money Market continues easy. Loans o.
call are freely offered at e@7 per cent. per annuu
Best paper is scarce, and quoted at S@lO per cen