The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-10-10
FINANCIAL AND COMMERCIAL.
MONDAY, Oct. 90 p. N.

Ths stock market manifested improving tendency
this morning and as the day advanced the dspot 10
renew operations for increased New York Central
being the leading fyorte At the first board the latter
closed az higher than at the time Saturday,
Erie X Reading y, Cleveland and Ptsblrg Ia, North
western u, preferred e, Fort Wayne 2's, Prairie du
CHEN TX, Ohio and Mississippi certificates ~,
Cumberland u, Quicksilver u. There was
sale OF Panama Railroad Fock Of 2i0
State stocks were firm Governments securities were
quiet Coupon nvetwenties OF the new issue advanced
". Coupon ten-forties y lower.
After the call Erie advanced 10 81, upon the Chinas
advices reporting the stock at 60x COX IN London on
the both ult Gold bearing securities also became
stronger under the quotation Of 20 y for nvetwenties
on the same date.
The board suspended general business for short
time to consider a complaint relative to the trans
Ter system OF the Cleveland and Pittsburg Rail
way Company. 1t stated that letter Of in
quiry upon the subject had been addressed to It's
president about fortnight ago. but that no answer
mad been returned, and made to strike the
stock from the list. After sharp discussion the
subject was tabled II contended that the company
ought 70 have transfer agent In this city, and not
leave Its business to the Of bank The matter VIII
probably be SO adjusted an objections by
the president signing the certificates and the bank ON
GERS countorsigning them
At the open board at o'clock the market was active
and buoyan the second regular board the improve
ment was sustained Michigan Southern and New YORK
Central being the strongest on the list Inc former
closed SIX higher than the first board and the latter
az Erie 2 Hudson River 1z Reading l. Illinois Central
~, Cleveland and Pttsburg u, Northwestern q, pre-
ferred x, Rock Island ~, Prairie du Chen IL. Tho
largo increase in the earnings OF the ONO ana
Mississippi Railroad-those from January to August
t. NJ thnoa fprf
corresponding period years. attracting attention
10 the certificates in view OF the probability Of their
ultimate conversion into a dividcndpayng stock Fort
Wayne and Quicksilver steady. Government gold
bearing securities were in little better demand and old
I'VE twentes were strong at advance Of r. Seven
and tenths notes Of the third series wcre however,
heavy at 9s-a discount of two per cent
Al the open board half past three the market was
fraction lower except for New York Central which I'd
vanced to 1885. Erie closed at ol1S,
Hudson River 1o8T Michigan Southern Tx,
Reading ll7z, Prairie du Chen 90 Cleveland
and rittsburg 1884, Rock Island JfiB, Nortn
western o. 81 3lA, preferred 81, Fort wayne W. oo
and Mississippi certificates 70. ~ SoS Cumberland ~
Central Coal 59A, Quicksilver o.
Afterwards the street, the market was snaae
lower on portion OF the iisL
Petroleum stocks steady at the first board, with
the exception Of United staes which 81 SO lower
than at the same time on Saturday; McCln-
took. which was Acc higher, and Buchanan
Farm Sc At the second board the market
was irregular Pholc Creek closed at 81 o5 BennehoT
Run sla Buchanan Farm &c., Empire city 45c., Ex-
cesior so Germania &c., First National &c. Oil Creek
81 co. Bynd Farm 81, United States $40.
The gold market underwent further weakening con-
soquent upon tho Of the advance Of Axe per pound
In cotton at Liverpool and the great activity and ad
vance In American securities abroad. The avidty with
which the Erie bonds offered for subscription at rs
were taken up would seem to foreshadow increased
demand for railway and national stocks in England
The sudden rise in the price Of American cotton in the
Liverpool market is however. not likely to smulat, Its
export from this SIDE as the advance abroad has been
already ncutrazed by the rise Of 10c 12c per pound
which has taken place here day The opening quota
/ on 148s, from which there advance OF u
and then gradual decline 145H at which the market
closed. The supply Of coin abundant, and loans
were made fat
Foreign exchange was dull but steady at Fridays
rates There is just now q partial lu In the import
rade owing the wants Of tho fall trade having been
great extent supplied but the spring orders which
been abroad generally represented to be
unusually heavy, and hence there is every prospect In
new Of the probable exports, Of Arm market for
hange for some time to The advance In the |
sank England OIL uibCount, BLOW
emand for money operates in this direction, and has
lready strengthened the rate for short sight bills
The demand for money active in the discount line
nd moderately from the Stock Exchange, which lat
or is met per cent call, with few excep
ions Of government securities at six. The supply Of
aptal is fully equal 70 the demand, although
he statement OF the associated banks for the
week, II exclude the First National Bank,
which not included in last weeks return,
hows an increase Of more than four millions In loans,
Nth an OF only about quarter Of million in
deposits But the First National formerly made It's
learances through other bank belonging to the
Hearing House, ts affairs or less represented
. that medium We therefore find less dsproportion
rhen We accept the figures Of the full statement,
ghich show an increase Of 50, 2,os7 In loans
nd sl,67s, ITO In deposits. There is loss OF
,l73,0ss In the specie line, and OF ss46,07s
the legal tender notes. There Is every reason TO look
or an easier market this week than last, consider
BILE number Of loans were suddenly called in BY the
anks for the purpose Of putting them out again at the
dvanced rate OF per cent Under this condition
monetary affairs, in the present highly speculative
Of the street. there 70 look for renewed
excitement and higher prices the Stock Exchange
cfore any considerable break The market is,
however, likely 10 be less spasmodic in It's
movements while attention Of the operators will DO
mainly confined to the active clique stocks.
The following figures compare the last weekly state
nent Of the New York associated banks with the
urns Of the previous week.
Sept 30. Oct T.
loans .............. s22f s18, $40 SOS $40, TIT
Deposits. .......... 1s3 s3O7l6 lSs, 5O4 4s6
specie. .............. 13,643, 1S2 134701A
legal tenders .......... 5T685674 1851, 752 |
Circulation. ............. 1oe45,oo7 10e70,307 |
The deviaons from the returns Of the previous week
ire follows:-
Increase IN loans 10, o6o W.
Increase in deposiS.. 4,63O03I
decrease IN specie .................... lI4cdI |
Increase In legal tenders ................. 8230S9
Increase In circulation. ................. 3228
In comparing the returns with those OF las, week. II s