The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-10-05

| The really valuable, spen Of these, VIM be tII
more priced, and sound securities of al sorts will
be sought after as we settle down once more into
the cain enjoyment of life and the sober business
| Of making money slowly. The vast resources OF
the country will, fairy. like, touched by the magic
hand Of labor, spring into papable life; and all
around the hum Of spindles will be heard,
while the desolated lands of the South will be
| covered, as with hive, with thousands Of hardy
Yankees, whose spades and ploughs will turn up
| the golden earth TO the sun.
Where w5sn IL. i eESSi sSSf Sss. s%' sS.aR SS%Rs
| In the meanwhile the shrewd men. WIN have
available funds, arc quietly purchasing sound
stocks; and number Of combinations nav be
! expected to show their strength in the market
after the Pennsylvania election
The new movement in Reading promises to he
! quite formidable to the bears. Tho old clique
woich took hold of 1t last spring, and carried Il
up from 60 to 50, are very large buyers. assisted
| by a strong combination Of capitalists and
brokers', commanding several millions OF rnonev
One party alone contributed 100000 10 the
pool which has been raised TO buy up the easA
stock and take il from the market. So bI
At the close of last week sixteen thousand
shares Of the cash stock were Withdrawn from the
street. and the certificates for the delivery
fales in New York are very scarce, and are paid
for by the bears, in order to fulfil their contracts,
at much higher rates than the regular sale Of
seller three days. 1t is estimated that in New
York alone this stock has been oversold TO the
tune Of fifty or sixty thousand shares on sellers
options; and as these contracts are maturing,
and the cash stock must be had at any price,
"somcbody has got TO suffer-" o oh O.
The growing importance of the Reading Com
pany is best shown by its enormous earnings,
which this year exceed by million of dollars all
of its former years of prosperity-the tonnage
ranging $4,000 tons per week against about 40, 900
in the year past. The dividend, in stock and
cash, the coming January is estimated by the
knowing ones at from II to 20 per cent. and, In
face of this prosperity, some crazy New Workers
have sold these enormous amounts short, esti-t
mating the value Of the Reading by the exploded
idea of the approaching value of the greenback
currency. In fact, the Reading road, by leasing
and controlling the lateral roads in the coal
region, is now master Of the situation in the coal
carrying business, and may make enormous
dividends upon It's annual earnings; whilst
some Of the Western roads will fall or ia
receipts largely at the close of the war. The
New York stock gamblers every once in
while make dead set at the Reading, bat 90
thoroughly is the value of the stock understood
in Philadelphia, and so prompt are our capi-
talists in coming into the market when the stock
is low, that the floating certificates disappear by
the thousand in a week or two, and the uufor-
tunate bears are badly burned in nine cases out
of ten So long as coal is consumed the Read
ing road will hold its proud supremacy over alt
other coal-cauying roads; and our Gotham
friends will learn this lesson every time they
att mpt TO sell its securities short for future
delivery at low prices. Iri.3fr
Our readers will remember that last spring we
predicted the great rise that was coming in the
Reading shares when the stock was selling at 81,
and We now put on record prophecy that before
January we shall see another enormous rise in
this stock, We shall, of course, have fluctuations,
the tide Of battle GIBBS or flows, but each reac-
tion from high rates will be less than the last,
until the vast volume of these contracts will have
eventually 90 be covered at 20 or IS per share.
Even at this figure, the earnings of the road will
warrant large cOmpensatng dividends, and the
stock will afford safe and profitable an invest
ment as any security in the market. Peunsyl- d
vania railroads and mines are even yet but In the
infant exercise of strength, and the vast resources
of the glorious old Commonwealth are bat bud
ding into splendor. ITH.1 rHh'
The Stock Market continues very heavy prices
have again declined, and there is more dispoSi
ion to sell. Government bonds are dull, with
sales of 5.2Os at lOl, coupons off, and 1861. with
coupons 6s OF 1881 sold at lO5 which is a decline.
Railroad shares have fall on off, with sales of
Reading at 57(G579; Northern Central at 81 81
PCnnsylvania railroad at 69s, which is a decline
of 4 A.; North Pennsylvania railroad scrip at 90;
Philadelphia and Erie bonds at 100; and Cita- ~
wissa railroad preferred at 80; $50 bid for
Camden and Amboy 431 for Little Schuylkil
57i for Minehill; and 30 for Philadephia and
Erie railroad. rrra a4aIed'
City 6s have declined, with sales of new at lO2,
and old at 98.
of Dalzell at st Noble and Delameter at i24;
McClntock at 81; Perry at A; Densmore at %
and McElhenny al ST.
In City Passenger Railway stocks there is little
OF nothing doing. 80 was bid for Second aud
Third Is for Arch and II for Race aud Vine.
There is no change 20 notice in Bank shares,
but we hear Of no sales. l62 was bid for NORTH
America; 6i for Farmers and Mechanics; 50
for Commercial; 70 for Kensiugtou; 4l3 for
Penn Township; and % for Manutacturers and
Mechanics. ..r ID .. r.t.,r,
Canal shares are duh, and prices are lower,
with sales of Morris Canal preferred at 1876; and
Susquehanna Canal at 10; 81 was bid for Schuyl-
kill preferred.
There is very little demand tor money, and the
lates remain about the same as last quoted. 2
Loans on call are offered at 6(97 per cent per -
annum; best paper is selling at from 9al2 per,
cent.
There is very little doing in Gold this morn
ing and the market is dull; opening at l90ii
advanced and sold at 1904 az II o'clock fell OF.
and sold at 100 at 12j and 1904 at l24. Market 81
weak. .|rr .# .f ..H fHHI n' lf hH
PHILADELPHIA STOCK EXCHANGE SALES. ocr. 3-t d
Reported by Clarkson 3 Co.. Brokers, Ne LII g. Third
BEFORE BOARDS. t.a
ISS SS sR sR story rarm.e iSo iSo = Corr raneI;
400 IN do.........c 3 40 sh Reading X. <
go sh Egbert Oh.,,,, "a 100 81 do,.,..rSn. I "
200 sh do .......... "a 400 Bh d0.......,.- -
80 sh MeClntock -. Glal l0 sh co ......... .. -
100 N do...... bio 6h N0sh do.......... II ~.
500 sh pensmOre eh $50 sh do....s.r.. 5f's a
tO0 IN BIuncr ........ Ia 100 sh sch N Pf.....
FIRST BOARD. f
gl0soO u s zoos .....iOl 200 sh Dalzel OIL hI1 s
5000 do coup on.s5 IO6A 900 sh do..... DID -.
$3.50 u SlQ-iOs. reg. 965s BY 81 do.-.....ss - - O.
SlGOCC u. ;. 6s, Bl.....lO5 30 "a Noble Del x. J.
Si6CO City Gs, over 90 rs 100 ~ do.s.s..-,nP =
$40 City IS, .lO2 d0l 81 McehntOck,... "a
$1,000 Am. Cold, 40 zO9 81 uo..s;.. Vs.