The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-11-01
FINANCIAL AND CONNER clAL.


European news exerted rather depressing effect upon
the stock market to-day; but, Notwithstanding, the
volume of business very large while the advancing
tendency of prices well maintained Al the first
session of the open board Erie closed at s2h,
New York Central 09K, Northwestern 3l1, pre-
ferred OH, Fort Wayne l06, Michigan Southern
o4k, Cleveland and Pittsburg s2H. At the first
regular board there were conflicting opinions
evident regarding the effect Of the death or Lord
Palmcrson upon the affairs of this country, and dispo
stion was shown to hammer tho New York roads which
they resisted with great frmness The rumor Of an
ranyement between the Atlantic and Great Western and
the Morris Essex and other roads leading TO Cory
Pa was revived and of tho latter stock which
was quoted ut so less than fortnight ago. made at
par Government securities we're heavy under the quo
tation OF 03 81 for ve-twenties in London II must
however, DO remembered that this was cx-Novcmber
coupon. Coupon lvetwenties declined u, new issue r.
Seventhry notes steady New York Central closed
\ higher than at the second board yesterday. Fort
Wayne q, Prairie du Chen i, Northwestern common
On Tho latter IN strong demand in anticipation OF
the two years report to be published tomorrow, winch
is known to be favorable. Erie closed u lower Reading
u, Michigan Southern q, Cleveland and Pittsburg u,
North westcrn preferred u, Rock Island n Ohio ana
Mississippi certificates u. Quicksilver was unchanged
Atlantic Mail sold at l54 1885,. After the call there
was brisk demand for ali the leading stocks and North
western rose TO 341s.
Al the omen board at one O'Clock the market was
fraction lower and there was large amount OF cash
stock sold At the second regular board was urn ana
active the extreme Western roads Dcng inc ieading
favores Prairie du Chen closed 2 higher than at the
first board Northwestern a. Ohio and Mississippi GER
tilcates n Quicksilver IL New York Central was
~ lower Erie a. Hudson River ~ Readng x, Michi-
gan Southern u, Illinois Central Cleveland and Pitts
p~pl- T.1ov En~t
Wayne l. Government gold bearing bonds continued
heavy and coupon avctwcrlties Of both issues
experienced further decline Of 1S. AT the open
board at alfpast three there fractional advance
upou a port OF the list the remainder being steady.
New York Central sold at COX, Eric TX, Reading ll5
Michigan Southern 1871 Rock Island 100, Northwestern
34M Fort Wayne 1855 Illinois Central 1877, Cleveland
and Pittsburg s2H Afterwards on tho street, the mar
ket was firm.
There was a good demand for money from the Stock
Exchange but, owing to the increasing supply at this
centre, consequent upon the return flow from the
West and East the market developed considcra-
Bile ease. The rate, however, Is strictly seven
per cent, unless in exceptional case where q
balance was lent be recnt by the borrower at
the legal rate There was dstrust shown by lenders
An consequence Of the disturbance Of monetary affairs In
England by the report that peremptory demand in
relation to Mexico had addressed by Mr. Seward to
the French government, as it generally dis
creditcd and the depression Of securities owing
20 this cause, as also to the death OF
the Premier, was regarded only temporary. This
correct view of the was strengthened late In the
afternoon by the by the Damascus quoting nm i'm
provement London tho 20h inst Of y per cent in
fve-twentics x in Eric, Il u in Illinois Central and
"a u from the lowest point touched in consols also
announcing that the bullion in the Bank Of England had
increased f54 600 which last shows that the tide has
turned In Of the bank The for discounts
In The London money market has scbsdcd and transac
tons at five ana six per cent outside Of the Old Lady
OF Theadnccde street. were numerous and this 20 mis-
70 probable reduction of tho bank rate before long
The discount line continues active but the demand
better responded by buyers The best grade of com
mercal paper is quoted at 7 0, but about as many
transactions take place at higher figures rs at these
Tne gold market showed greater hrmness under the
Transatlantic advccs The opening price was l4o, fol-
lowed by a decline TO 1451s and advance to l46s
I48h, at which 1t stood at the close Of business
The foreign exchange market sympathized slightly
with tho affecting gold The demand, however, did
not pcceptbly improve Bankers bills at sixty days on
London were quoted at 10SZ q. Some OF the lending
drawers, however, ask 100.
Petroleum stocks irregular at tho first board, Pit
hole Greek being the most active ut decline OF 60c
board United States Soc lower, Dennehoff Run
15c At the second public board Buchanan Farm closed
at soc Bradley 81 Is, Cherry Run 25c Excelsior &c.,
Empire City SOC, Gcrmana Ale, Pithoie Creek $40 90
Webster 10. 20) 81 20.
has hitherto been tho custom Of the stock brokers to
receive in payment each other for stocks delivered
certified checks upon all the city banks indiscrimnaely;
but owing the number OF banks not belonging TO
the Clearing House Association which have recently
sprung iato existence under the national system has
been found desirable for the sake Of convenience and
facility In the transaction of the business OF the Clearing
House banks, which nearly all tho brokers keep their
accounts refuse all certified checks not drawn upon
SUCH and regulation that effect has Just been adopted
by the Stock Exchange The effect WILL Of course, be TO
conne tho business OF tho Stock Exchange 10 The nifty
eight associated banks which named as follows In
tho order Of their seniority OF membership
Blk NJ X, NATL Bkg Ass Natl Bank North America,
Manhattan Company, Hanover National Bank,
Merchants National bank, Irving National Bank
Mechanics National Bank, Metropolitan National Bk
Union National Bank, National Citizens Bank,
Bank oil America, Nassau Bank
Phcnix National Bank, Market National Bank,