The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-10-25
FINANCIAL AND COMMERCIAL.


TUESDAY, Oct. MsPM
The stock market was strong at the early session OF
The omen hoard and Eric sold at SIX New York Central
osk Reading ll5s( Michigan Southern tan, Cleveland
and Pittsburg 7s Rock Islaud 1929 Northwestern 3os
Northwestern preferred C4aa, Fort Wayne 9sk Praire
du CHEN co., Cumberland e. At tho regular board
pric receded under sales to realize New York Central
closed ,. higher than At the second board yes
terday Erie y, Reading x, Michigan South
ern az, Illinois Central u, Cleveland and
Pittsburg IN, Northwestern preferred y, Rock
Island ~ Fort Wayne x, Prairie du Chen 3,
Cumberland ~ Ohio and Mississippi certificates were
unchanged. There sae Of 200 Harlem Railroad at
n, and another 200 ct 7S-s FIRST appearance tho
Inst for many months. Government securities were
stronger Coupon nve-twonties advanced Y; seven
thirty notes OF the third series k.
report was current that Mr.. Cornelius Vanderbilt
had been thrown from his wagon and injured and this led
to considerable sales Of New York Central and Hud-
son River, under the impression that II he died
his stocks might b thrown upon the market
when, however, was asesrtained that the
Commod0re's injuries were very slight, the ex-
element sbatsd This recalled 70 him similar state
Of feetng which once prevailed some years ago. when
the stock or the Nicaragua Transit Company was actively
dealt In The Commodore was sick, and his decease
would have greatly disturbed It's market vaue 30 the
shrswdest and most interested speculatoEs made
paint TO waylay tho Commodores doctor daily and put
such question as "How's the Commodore's pulse
this mornings' Those are some Of the ludcrous mel
dents that occasionally underlie stockjobbing. ..
The market weakened after the call and then became
strong again At open board o'clock steady
At the second regular board weakened under renewed
operations OF the bears New York Central closed "
lower than the first board. Erie ~ Hudson River Ia
Reading " Michigan Southern u, Cleveland and Pitts
burg Northwestern "a preferred u, Rock Island Y,
Fort Wayne " Ohio and Mississippi certificates u
Prairie du Chen was unchanged Government sccuri-
Ties arm Coupon skies Of 1881, tcn-forties and
new nve-twcnties advanced u.
After the call the market Was hammered by the bears
who at the same time circulated false report that
had arrived reporting advance OF the Bank
Of England rate Of discount TO eight per and
cline In Erie to 5o1k; also that the Atlantic and Great
Western Railway Company had leased tho lines extend
ing from Cory, Pa, at its junction with the Great
Western, to New York, via the Sunbury and Eric. the
Catawissa the Lehgh Valley and the Morris and Essex
railways. But upon inquiry from the Great West rn
Company, found this report TO be without founda-
tion. The Morris and Essex aud Cattwssa companies
have we understand, offered TO lease their
spective lines; but 1t is very improbable
that tho Atlantic and Great West IN Company
will avail itself Of this opportunity The speculative
dfeCtcr OF TINS ETC Is employing every eHOrt 70
ijurc the property OF his company and depress its
stock 10 the Market In the hope Of being enablcdto
buy back lower figures the which he sold
weeks ago. preparatory to running the price up again.
At the open board at halfpGst three New York Central
closed at &c. Erie s5s, Hudson River (scler 81 105X,
Reading l14T, Michigan Southern 70H. Cleveland and
Pittsburg Tx, Cleveland and Toledo 1O2' Rock Island
LOT, Northwestern 30k, preferred ASK, Fort Wayne
S7k Prairie du Chen co, Ohio and Mississippi ccrtia-
Gates 2T.4 Cumberland A. Afterwards on the street,
<hc market steady and at hso r. NJ Erie quoted
at s5jx, New York Central 80 a98H.
Tho money market generally reported easy at Z
per cent call till after two o'clock, when some
Of che bears resumed their efforts TO produce
stringency, and, although in need OF loans,
set out on a tour Of inquiry for money. This
had some effect in inducing weak holders Of stocks TO
soil out and lower prices followed during the Of the
afternoon Tho banks report subsistence Of the drain
westward but the fact that exchange New York at
New Orleans and Mobile Is nj discount OF per
keeps up the flow Of currency in that direction The
necessities OF the South WILL however, be likely to
neuraize great part tho effect OF tho large shipments
Of cotton which are taking place at Southern
ports, and which the direct cause OF the
drain OF legal tenders southwark Some Of the banks
also report return Of deposits suddenly and suspi-
coasly withdrawn during the time the money market
disbursements at tho sub.Treasury account Of tho
tcmponry loan continue, but the entire Withdrawals
since the pressure sct form but small portion
Of the amount Of such deposits held Al the and Of Sep
,smbsr $50 $50 Of the Ave per cent deposits being
thea recorded In the debt statement aud 900 Of
the six per cent deposits Tho notices OF withdrawal
maturing to-day aggregated only $2so,o00. There Is
good supply OF commercial paper Offering, and the best
grade passes nj . per CENT
The gold market nrm, tho opening price being
1904 from which there advance TO 14eK, and
subsequent relapse Of y, the closing quotation being
ilsk.
Foreign exchange dull, and good bankers bills as
sixty days for sterling were quoted at 100 net
Petroleum stocks steady and moderately active nj
the st board Phole Greek 1Sc higher than at the
Same timo yesterday, Buchanan Farm &C. Al the second
continued steady with the exception Of United States
which declined Soc, closing at $40 80 Fec Simple
closed 49, Webster 81 ls Mount Vernon eoc, Ben-
nehod Run 1857 SIS, Buchanan Farm Soc, Bradley
81 TO- Cherry Run 25c Empire City <3c Excelsior 75c,
Germania 33c, Knickcrbockcr 1oc, Manhattan 2Sc.,
First National Tic. Oceanic CO.,, OIL Creek 81 -.
TLerc ID considerable division Of opinion among the
Mississippi and Missouri bondholders respecting tho pro
posed arrangement for selling the road 10 the Rock
Island Company and scheme Is foot TO sell the
road rival company-thc Northwcstern-nstead, ON
said be favorable than those offered by tho
Rock Island schema The SECOND mortgage construction
bonds sold to-day st 35 or per cent hisher than the
price allotted the recent meeting Of Mississippi and
Missouri bcndhoders many Of whom are interested In
the Rock Island Company.
The follow IS OF the plans proposed under the
title OF Amendment No e.
For tho distribution o. tho proceeds OF the sale Of tbs
Mississippi and Missouri Railroad TO the Rock Island
Railroad Company for $500 In the event Of tho lat
ter being accepted.
One million dollars First Division at 100 81 ,ooo 600;
e2llO 900 First Division Income 100 42l4 GOO 900
Second First Division NJ 10 $500 500 600 Eirst Or
xaioosa al 10 s4i25O0; 3,6i2,000 First Land Grant
Western Division o. 23iT 500 900 Second mort
rage all co. ear 000 $50 600 Income ON third
GLASS at o. ti,s COO; 5000 Income oskaoosa . 10