The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-11-30
FINANCIAL AND CONNER GAL.
WEDNESDAY,. Nov. 2e-eP. ID.

WEDNESDAY,, Nov 60 r. n
The stock market reflects the prevailing temper Of the
public mind In view Of the meeting OF Congress on the
4th of December. A few weak holders Of stocks are
realizing and others are putting out limited line OF
shortsn But II is noticeable that most OF the strong
houses are on the bur side OF the market under the
not erroneous impression that when, after Congress
meets IL is discovered that radical
win be adopted, there will be rush to buy stocks
both to cover 'short' contracts and speculation
for a rise AT the early session Of the open
board this morning Erie sold Mt s2k, Reading 1i5X,
Michigan Southern 76k, Cleveland and Pttsburg 92s,
Rock Island lo7, Northwestern 35'<, preferred 6Sa
Mariposa l5 AT the first regular board the volume OF
business was large and well distributed but prices
generally lower than at the second board yesterday
namely, New York Central r. Erie Y, Michigan South
ern " Illinois Central u, Cleveland and Pittsburg III
Northwestern r. Rock Island u, Canton u, Ohio and
Mississippi certificates u. Fort Wayne y higher,
Marposa u, preferred Il; Cumberland x, Quicksiverh.
Government securities shade nrmer. Coupon
nvetwentes OF the old issue higher second and
third issues steady Seyenthiry notes Of the second
series advanced 4. E 4v.s.sff.taF
AT the open board At one O'Clock the market was
steady. Prairie du CHEN sold 96s 90 The clique
controlling the latter stock ia evidently keeping Il und
par order prevent shs company from issuing any OF
ID the event Of the injunction restraining them
being dissolved, the company under no circumstance
having tho privilege OF selling Of the stock ocow par
At the second regular board the marhet was dull
New York Central closed lower than at the first board
Erie n, Reading ~ Rock Island 4. Fort wayne u,
Marposa preferred ", Ohio and Mississippi certificates
u, Michigan Southern The conversions OF the guar
anteed stock Of the last mentioned company into
stock stated to have amounted TO nearly one
half of the whole The authority to 80 convert was
NJ Directors
on September 20 last and all settlements and CONVEX
sions must be made before the 18th Of next January
In settlement all claims for back dividends the
pany give forty per cent in common Stock and upon the
conversion of the stock thus settled the company give
ono share OF common stock and thirty-fvc dollars
in cash for each share Of the guaranteed delivered
up hundred shares Of the guaranteed stock
may in this way be converted into hundred and
forty shares OF stock and So 500 in currency
Cleveland and Pttshurg Illinois Central and Mariposa
were steady securities dull. Coupon
dve-twcn.es OF the old declined u, thirty
notes, second SERIES 1S. The rest of the list was
changed.
At the open board at past three the market
quiet stronger Erie closed the call at ok, New
York Central 96, Hudson River % 10y lo9 Reading b3)
1l5, Michigan Southern 1854 Rock Island l07K, North
western blo) 35 Fort Wayne 1O5ss McGregor Western
271s, Mariposa 15H, Cumberland 4aal.
Afterwards, on the street, the market was firm and
Cleveland and Pittsburg advanced to 921S
There has been only moderate inquiry for money,
and the supply continues abundant at per cent
call The balance the Sub-Treasury at three O'Clock
had increased $72 I79 which shows that it is for
flying itself against the coming drain of currency in
redemption of the 1--WE per notes due tie LIST OF
December The payments will be made in legal
tenders and national bank currency, and the
created will be filed by fresh issues Of
compound interest notes With regard to the forthcoin
ing report of the Comptroller of the Currency is semi
officially stated that issue OF ten
millions Of circulation or rather to that extent
above the authorized three hundred millions in the ap-
portionments which Is equivalent 20 the same thing and
that further issue of fty millions OF currency recon-
mended the necessities of the South; and fur
Their, that Mr. McCuocb has endorsed this recommends
ton, as also that for the removal of the Currency
Bureau to this city How far the National Currency
be amended TO meet the want Of banking faci ties
in the Southern section Of the country will depend
upon the pressure brought 10 bear in favor Of Southern
interest in coupons and the supposed requirements Of
the South than upon the direct recommendation of the
Treasury Department and instead Of only nfty millions
Of additional currency being authorized the probabi
ties that twice that amount will BIO added to the
original three hundred millions.
In the discount market the supply Of CONNER
CiaI paper continues COn~uefuplV IN eSCe-1 vi lne
limited demand Tho best grade AT short datfs passes
at per cent but second class and inferior
with difficulty negotiated at 10 49, lenders being reuc
tant to employ their funds In discounts Exchange on
New York at New Orleans and the Western cities re-
mains firm at par buying and X X premium selling
Gold duh but strong under the fresh report OF
complications tie Rio Grande, which, however
generally regarded nDinportant affecting our
political relations with Mexico, If II does
not turn out 70 be Of batch of c1nayds Tho mar
ket opened 49, and Notwithstanding large cash sales
supposed 20 be government account 1t advanced
steadily 20 1482, aud then reapsed, closing at 1881
Foreign exchange hrmer, and there very few
commercial Southern bankers bills Offering There is
o growing disposition At New Orleans to keep back
cotton expectation of higher prices for the staple
and this has effect upon the rates OF exchange.
Bankers asked 1904 for their sixty day bills,
but sales were reported at 100 e. Good
commercial bills we're in demand 1t 1851.
The Persia took out 5000 In Bank OF England
notes brit no specie The exports exclusive of spece)
show material decline for the week ending November
81 az the following comparative statement will show
1868 1864 1866
For the week. s. a5i ,634 S1.ss0.3o3 SO go
Since Jan l. $780, $50 $1ss, 800 $780, sos IT'S
The business al the Sub Treasury to-day was fol-