The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-09-08
FINANCIAL AND COMMERCIAL.

THURSDAY, sept 7--ePMA
the stock market steady but not very sctive q.
the ten O'Clock of the open board Erie sold
so ssX Reading 1917 l07, Michigan Southern 662s.
Cleveland and Ptsburg TAX r. Cleveland and Toledo
1854 Ohio and Mississippi certificates 2ss< Az the first
regular board there was Increased activity the most
cited stocks being Ohio and Mississippi certificates sch
gan Southern and Quicksilver. The latter closed "a
lower than at the second board yesterday Ohio and Mis-
sisspp certificates X Michigan Southern was higher,
Erie Y, Rock Island n New York Central, Reading.
and Cleveland and Pittsbarg unchanged Govern
ment six per cents steady; ten-fores were 4
lower; scventhity notes of the third series sold at 99
"; one year certificates of the new issue 9sA.
At the open board at one O'Clock the market was
fraction lower At the second regular board the market
was dull and heavy. Erie closed x lower than at the
nrst board, Reading 4, Michigan Southern 81 Rock
Island 4, Cleveland and Pttsburg y. New York Central
was y higher, Quicksilver u. Government securities
were quiet Coupon hve-twenties declined X Ten
forties advanced x year certificates OF Che now
issaek There was sale of Pacific Mail scrip 15l
Atthe open board at half past three the market was
shade lower on portion OF the list Erie sold at $50
Hudson River ILL., Michigan Southern 6e,l Reading sS)
101x, Cleveland and Pttsburg (bs, tx, Rock Island
1iox,s Northwestern preferred osK, Fort Wayne 9sX,
Ohio and Mississippi certificates s9 2sH, Cumberland
AK, Quicksilver so. r'.- eft le e9Nl sfra
lAfterwards, on the street. prices were lower t pig
committee was appointed at the first board to inquire
ntothe sucency of the signatures Of the president and
cashier of the National Bank Of this city to the
certificates of the Cleveland aud Pittsburg Railway
stock and from this doubtful originated that
there was an issue on the market. arf i
Tho supply OF money continues abundant at per
cent call, and this monetary ease enables the specu
Iaiors for rise on the Stock Exchange to carry
No
which they would otherwise find it difficult to
do; for the market is almost entirely without
outside supports The Broad party is suppo,ed TO
he very largely long OF Erie and by sustaining this il
susains the whole market But no clique, however
powerful, can make It profitable to 'bul' the market
beyond certain point in the absence OF the public
buyers So long as money continues as cheap and
abundant as at present there may be no material dis
turbance OF prices; for il is to the interest of
tho Erie party to impart much irmness as
possible to the market prevent the depreciation OF
value of the stocks it is carving But the street" is at
the time loaded up with stocks bought because the
speculative director OF Erie known to be buying
The great majority of the profess onal operators Wall
street. be il remembered, know more about the read
value OF the stocks they deal in, and have de-
sire 10 know than many balloons, and they just
as initiative those amusing animals known be;
for no sooner do they hear that ana so, in
whose money power they have confidence is buying
selling than they blndly follow his example. Apart
from the Erie clique the market is chiefly kept up by
these and they are not key to be reinforced by
Others anxious to share their burdens for owing to the
great and prosperous activity every branch OF eg
mate business, there less disposition among business
men TO speculate the Stock Exchange than there
been for long time past Moreover IL is well under
stood that the present prices arthciay sustained
and that tho large holders merely awaiting market
on which they can SELL leaving others to 'pocket the
oases."s III -.sr p. ils. t..s t...e.a
IL will DO seen by the following comparison OF the |
closing cos OF leading stocks the first session OF the
Stock Exchange the LIST inst and to-day that with
che exception of Ene hcre has been noticeable I'm
provemaD during the past week. and quotations being
lower Ibis afternoon than they this morning the