The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-01-26
FINANCIAL AND COMMERCIAL
WEDNESDAY,, Jan. 2s-sP. NJ.

WEDNESDAY, jan xo-oF II. NJ
The stock marko opened with increased activity an,
che speculative feeling in favor Of a rise which showed
ITSELF yesterday experienced further development The
closing quotations at the first board were advance
those at yesterdays second folows:-On Erie u,
Now York Central "a, Hudson River 37S, Reading ],
Michigan Southern u, Cleveland and Pittsburg ~,
Rock Island u, Fort Wayne u, Quicksilver l. Cumber-
land y, Ohio and Mississippi certificates u. Michigan
Central declined u, Northwestern y, Mariposa X. The
summons OF the latter company 10 10 stockholders 70
meet TO day and subscribe their names In kvor OF an AZ
sssmen Of five dollars per share to raise money for pay
ing the incurred and current Expenses of working the
mine responded to by any Of those concerned
and riots Of the workmen employed by the company
whose is in arear and other evil consequences OF an
embarrassed treasury threatened the future OF the
company may be considered entirely uncertain and pre-
carious Government securities frmer Coupon
hve-.wentics OF the issue advanced IA X; ten
forties sold at looh u, skies of 1881 109H.
AT the open board at one O'Clock the improvement
conbared and ut the second board the market was
buoyant comparison Of the closing sales with those
OF tho first board showed advance in Erie Of az New
York Central 2s4, Hudson River 3&, Reading Ih Mchi
gan Central "a, Michigan Southern IN Illinois Central
2A Northwestern y, Rock Island M Fort Wayne ~,
Ohio and Mississippi certificates r. Cumberland Coal III
quicksilver Mariposa l. Government securities were
stronger in sympathy with the general market Coupon
nvotwcntos advanced u, new issue n. Ten-forties
sizes Of 1881 and certificates were steady. A
Alter the CALL and at the second open board at half
past three, the market reacted and decline Of x az
per cent took place. This the natural effect OF the
quick recovery weak market after period Of great
depression The chief activity OF the last two days has
been caused by the 'shorts' coverings but now that
prices are SO lows good argument in favor Of specua
ton for rise is furnished The large outstanding short
interest," however, while assisting the upward turn to
some extent will cause the bears TO strenuous efforts
to keep the market down, in which of course
they win DO less resolutey opposed by
the opposite party. AS tho latter however, are
not backed by the outside public the effect Of their efforts
will DO uncertain, and therefore an irregular market
influenced to great extent by the OF goldman
be looked for The general public will best consult s
own interest by carefully avoiding the Stock Exchange
alike with new petroleum companies for BIO the bulls or
bears for the moment in the ascendant the market viii
provo equally rcacherous Wall street reservoir for
receiving the loose cash Of the community and by the
publc's losses the army of stockholders thrive
The President of the Chicago and Northwestern Rail
way Company has addressed letter to its stockholders
with reference to the bill in equity filed by the holder Of
Three shares Of the old Galena stock mpeaching the
legality Of the consolidation between the Gaena and
Northwestern roads He states that the holders OF
Of the shares OF the Gacna stock signed the
agreement OF consolidation and that OF the remaining
4i2 shares about 900 voted for It, with the Others
the stockholders meeting, and that Of the residue
nave omitted to exchange their stock from no reason
Known to the board except delays Of legal formaies,
ABSENCE or disability He further says board are
AdVed by their counsel that there doubt Of the
egaiity and validity OF the consolidation.
The stock Of this road has been largely oversod that
he bears have failed TO fully realize their expectations
Nth regard to II; but the contest ia not yet over
The gold market has been active and irregular all day.
md there has been sharp demand for cash gold The
eport OF the rebel gunboat expedition down the James
iver with the view, 1t Is supposed, Of attacking our
works City Point tended alternately to advance and
epr che premium slightly but with the int diligence
II it, rcpusc by Of batteries the mar kc closed
aeady Tho following were the quotations.