The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-09-13
FINANCIAL AND CONNER GAL.

TUESDAY, Sept 12-6P.M
,s stock market was steady and without any special
al the ten O'Clock session Of the open board this
morning AT the first regular board rather dull
the most animated stock the list being Michigan
southerns New York Central closed u higher than at
the second board yesterday, Erie a Reading b. Miohi-
gan Southern r. Cleveland and Pittsburg a. Rock Island
NJ Ohio and Mississippi certificates were unchanged
Fort Wayne was u lower Government securities were
firm Coupon hve-twenes of the old issue improved
4 Coupon ten orties declined Is One year certincaes
OF the new issue sold at 9S There was sale Oh rhenx
Bank stock at o. Pacific at 1856 American Exchange at
ia Fourth National 95 II Is noticeable that bank stocks
almost without exception show decline since the dis
covery of the Jenkins defacaton and the Ketchum
erpae
AT the open board at o'clock the market was firm
AT the second regular board portion of the list
fraction higher Erie and Michigan Southern being the
strongest The former closed i per cent higher
than at the first board and the latter u,
New York Central ~ Rock Island ", Fort
Wayne n, Quicksilver y. Reading was u lower, Cleve
land 4 Pttsburg H. Government securities were
inactive seventhiry notes Of the third series sold al
cox There was a noteworthy sale Of a hundred thou-
sand Of gold at 1875 seller thirty days without IN
terest
Al the open board at hacpast three the market was
steady. with the exception OF Erie which declined ~
elosipg at ss New York Central closed at saA, Hud
con River Ill Reading lo7N, Michigan Southern 0S}s
,rhere was Afterwards an offer made to take any part
OF the capital stock of this road at 90 by
broker supposed to represent one Of the managers
of the company who recently ''bearng'' 1t, and
who is now just indusriously bulllng" IT, Cleveland
and Pttsburg sold at 72% Cleveland and Toledo t'a)
lO7 Rock Island 103 Northwesterns 3 2s, preferred
62X, Canton Company 40, Cumberland ASA, Central
Coal 90 s.ts sr ss Afterwards the market weak
ened and Eric sold down to S7I This stock continues
10 puzzle the crowd the curbstone and the move
ents the speculative director sagely canvassed
II was supposed early in the day that the purchases of
prominent operator account of the Broad street
party; but when he began to sell after the ad-
vance this impression removed Meanwhile,
however, the "street had bought largely, and there
was considerable disappointment manifested when Erie
was found to be no longer the ascendant The proba
bity at present that Erie will be lower before it is
much higher the indications being that the great "bu
who was have led the sma fry to riches last week
s longer buyer Whether hc is or not ought, how
over, TO be very mmateral circumstance in guiding
speculation for those who put their trust in cliques
hardly stand on any better footing than those who
repose similar confidence in primes ". general mar
ket Is just undoubtedly arm; bi taking into con-
sideraon the fact that it without outside support and
frequent reactions to be expected market IKE
this supported entirely by the agency Of speculation +
inherently weak one, for to give 1t strength
steady demand for investment would be necessary.
But at the tmo 1t must be remembered that n
knowledge of real value OF shares is useless in Wall
street operations and that to act upon axcd principles is
a. likely to be runous otherwise In the face Of specu
iatios which is cratic and guido to either the
merits dement's Of the property dealt in.
Tho gold market was weak and a decline from 147s,
tho opcuing price, to l43Z took place This was fol-
lowed by an advance Of ~ the closing quotations being
14sX.
The foreign exchange market wss irner today, and
che demand for bills to be transmitted by the Boston
steamer was somewhat active Bankers sterling at sixty
days cold 109A early in The day. and soon advanced TO
10o while of tho leading drawers declined selling
under lO9H
Money was in moderate demand At a 8 per cent, and
the discount line was steady at eN and 0 10 per
cent for the two highest grades of commercial paper
petroleum stocks were rather dull but steady at the
rs board and Pthoe Crock closed LOG lower tran at
ire ssme time yesterday Webster &c. Germana was IN
changed Buchanan Farm 10 higher, United States
900 At the second board Germania sold at &C., Kncker
booker l5c, OIL Creek So %, Rynd Farm Soc, United
States $27.
'pThe adjourned meeting OF bank officers TO
cons;der tho plan OF redemption for the notes
a. country national bank notes took place at
ono r. M to-day, at the Clearing House. The
presidents OF the city banks we're present. with Mr.
Jones' Of the Chemical Bank, In the chair, and the
manager OF the Clearing House secretary After some
discussion objection taken to its being made Clear
ing House NATTER and accordingly 1t was unanimously
sxreed 70 mako committee Of bank officers The ad
icurnnaeut Of the meeting without action was then
moved and very spirited discussion took place but the
nbtou was lost resolution was then offered to tho
sut thai Yves the opinion Of the meeting that sys
tar Of national hank note redemption In conformity
VA Isv should be adopted and this was carried by
vokA twenty nine TO twelve After further Discussion
AZ 1stsIIs the meeting adjourned I'll Tuesday next.
k6 BUSINESS at the Sub Treasury to-day was as fol-
ioxs.z
$1,000 n, c,s,om. ACKNOWLEDGEMENTS. 1884 cO0'