The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-10-19
FINANCE AND COMMERCE.
OrrioE oY IHH KvxuNa TELEaHAFH,
"wednesday, Oct0ber 10.

Wednesday, October 10.
The fluctuations in gold aud stocks yesterday
afternoon were very violent, the contest being
carried on with great earnes.ness on both sides.
Gold touched 2l6 several times, and rebounded
TO 2l0 as often, but the tendency during the day
was manifestly TO lower figures. The situation OF
army a'ait bltween Sherman and Hood points 70
an carly victory Of the Union arms aud the most
violent bull has grim fOrebodngs. Hence the
rapid fluctuations in price, which varies with
each rnmot from TO per cent. decided sue
cess Will knock gold below 200, and II Grant
| should follow shtrman with victory before Rich
mond, we should see Il below 1850 In short metre
Stocks were unsettled, and prices varied each
hour. In New York, Erie fell from 96 20 "a and
rose to DC in few hours, selling finally at the
| Fifth avenue at 9S, aud Reading was aa llyelv AZ
the mercnry In a Thermometer, confoundine tho
Judgment Of bulls and bears. The old operatoys
stood STILL but the outsiders kept buylne and
| selling all day long, without apparent profit m
any transaction Il is not wise to operate in such
markets, for the hourly changes defy all caicuia-
! tons aud except brokers, VINO bag commissions,
nobody is benefited. The tendency Of good
! dividend. paying stocks is upwards, and holders
have but to stand still until this bullion war is
over 70 reap large returns for their investments.
The rise in gold has put mp the price Of pctro-
lcum oil, and the more valuable of these shares
show an advance in price.
1t is stated that Mr.. McCalmont, the largo
owner, in England, of Reading stock, arrived
yesterday by the Scotia and holders look now
for some action In regard TO the January divi-
dends, as he has a voice IN the matter potential
as Dukes" The large earnings OF the year
warrant large expectations and the disposition
on the part OF the management to crafty the
stockholders is known TO be favorable. Over
81 GOO 900 has, we understand, been deposited IN
the Mint, at per cent, by the Company, reserved
TO meet the forthcoming dividend.
The Stock Market continues very dali aud uu-
settled. Government bonds arc rather better,
withsssles Of 5-20s at 1Ol3@l02, coupons of, aud
| Gs Of 1881 at 1853.
In Railroad shares there is very little doing.
Reading sold at 605, which is an advance; Nine
hill at 50; and Lehigh Valley Railroad at 77R;
G9I was bid for Pennsylvania Railroads as for
Little schuylkill; 30 for North Pennsylvania;
lSl for Catawissa common; aud Ga for Philadsl-
phia, Wilmington, and Baltimore. rsrf
New City 6s are selling at 1921.
City Passenger Railroad shares are very dab,
and we hear Of no sales. 20 was bid for Green
and Coates, and &c for Girard College; 20 was
asked for Second and Third; so for Tenth and
Eleventh 81 for Spruce and Pine; and 81 for
Chesnut and Walnut.
Coal Oil shares are quiet, and prices unsettled.
Oil Greek sold at 6 Irving Oil at II; and Dalzen
at0i.
Bank shares are firmly held, but the transac-
tions are limited. FarmeIs' and Mechanics sold
at &C.; 1863 was bid for North America; 100 for
Philadelphia, which Is an advance Of g.; 66 for
Commercial; 6S for Northern Liberties; 30 for
Mechanics; So for Western; 2s for Manufae-
turers' and Mechanics; 20 for Tradesmen's; 461
for Commonwealth; and 46 for Union.
Canal shares continue dull and rather lower;
susquehanna Canal sold at Is, which Is a decline;
351 was bid for schuylkill Navigation preferred;
81 for Morris Canal common; and 76 for Lehigh
Navigation.
The Money Market continues easy. Loans on
call are freely offered at G@7 per cent. per an
mum best paper is selling at from 9@lO per cent.
| Gold is more active this morning, and prices
have declined. Opening at 2ll; fell off and soldRt
2O71 at II o'clock; advanced aud sold az 200 at
-; and 2O91 at l25.
PHILADELPHIA STOCK EXCHANGE SALES, OCT. 10.
Reported by Ciarkson Co.. Brokers' No. III g. Third st.
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