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


Friday Sept SO Pm
The STOCK market has undergone considerable depres
sen to-day, and the disposition TO put out shorts is
on the increase At the open board at ten O'Clock the
volume Of business light but prices were well main
tanned At the nst regular board the market was rather
heavy New York Central closed y lower than at the
second board yesterday, Erie r. Michigan Southern u.
Cleveland and Pttsburg u, Ohio and Mississippi cert-
Acatss ~ Reading was u higher, Rock Island v, Cum
berland X Quicksilver l. Fort Wayne was unchanged.
There was sale Of Fourth National Bank stock at o.
Bank of Commerce at 106, and Continental Bank %
Government securities strong Coupon nve-twenes
wsro 4 higher, ten-fortes u. sgls 81
Al the open board O'Clock the market continued
10 decline At the second regular board IL dull and
without any improvement In tone. New York Central
closed lower than at the first board Erie u, Michigan
Southern r. Cleveland and Pittsburg n, Rock Island u,
Fort Wayne y, Ohio and Mississippi certificates T. Cum
bertrand u. Quicksilver was x higher Government
securities were quiet Coupon Hvstwenhes declined q,
but the rest Of the list was unchanged wN M
A the open board 1t halpast three tho market was
sAsaAy New York Central sold at OK "a 81, Erie s7%,
Rsadng a. q l0ex, Michigan Southern cex, Cleveland
end PtssAux 11k, Rock Island llox, Northwestern 2s
pssessvsa slx Ohio and Mississippi certificates 2sK
Cumberland a. Quiokklver ID. 81 4eH. Nv
NE suskst for petroleum stocks arm ct che first
hoard Hthole Creek closed Csc. higher than at the
sams time yesterday, Webster lc., Watson &c., Blu
chansa Farm &c., Empire City &c., Excelsior o. The
PERCEPTIONS were, OH Creek, which declined Ice, and
United States 25c At the second board United States
maintained further fall Of &c., closing at t27 30 Oil
Creek dropped &C., closing at 50; Pthole Creek de-
clined &c., closing At 80 10 Inexhaustibe closed at
42c-an advance Of 12c. Webster 81 oo-an advance Of
SCI Excelsior 81 2S-an advance Of L., Cherry Run was
steady at SIC
The gold market has been steady and loans have
made from per cent in the currency to onesxeenth
The opening prce 144X, from which there de-
cline Of u, followed by recovery Of u. The closing
quotation 144H The steamer Costa Rica from As
pinwal brought $sss,2o7
Foreign exchange has been dull and sales Of bankers
sterling ninety days have been made through houses
as low 1O9H; but the generali rate was 109H u.
Short sight bills were quoted at 1o9X ITO.
The money market shows change, excepting in
slight dminuton in the demand for loans, which are
made freely at a 8 per cent. go
The recent arrivalin this country Of number of En-
gish capitalists and Of enterprise professedy for
the purpose Of nquing into its and the oppor
tuntes presents for the investment Of capital is sig
ncant Of strong current of abroad the pro-
gross Of the nation, coupled with desire to promptly
profit by it, The outbreak Of the checked the ten
States, but the in which waged it and the
triumphant victory which crowned IL deservedly
gave our government and people reputation
for stability and energy far beyond that which
they before enjoyed All through the terrible conflict
tho march Of industry was unbroken and although
carrying trade and commerce suffered were, some
resp9cE lever moro prosperous. The strength and
glory with which 70 emerged from the contest ngura-
lively speaking. turning swords into poughshares
and APPEARS into pruning hooks astonlshed the world
Insteadf experiencing the depression which 1t was sup
pssed sud succeedthe termination Of hostiities and
the disbanding Of the army We fnd ourselves in the
midst Of almost unexaAapled prosperity while every
branch Of industry and enterprise Is under
going further developmcnta No wonder, there
fore, that the millionaires o. the Old World see
fresh mines of wealth opening u5 n their view in the
New, and much profitable hefo for the develop
mcnt Of capital than any which is oner them at home
requires little foresight to perceive in tho railroad which
Ii to connect the Atlantic with the Pacific pesusl mar
vest OF dividends. we'll the opening avn 'e Oh the
gates II the Orient TO with the AtanA oa'es
and the world by way Of California The impetus ~ non
ppd be given to trade with China and Japan, Sins
pore and Manila and adjacent islands blythe complesion
tho Pacific Railway IL would be difficult to estimate,
hut undoubtedly Il would be very great The develop
nept of the petroleum resources Of the country would
Le all the more rapid for the introduction Of European
,apitai in exploration and wesnking, while the vast
mineral resources Of Colorado, Nevada and other Terri
ories offer extraordinary inducements for the employ
mont Of capital and labor
wo have convinced the world that the United States
d nation q capable Of outstanding and overthrowing
revolution as any in the world and that property |
hero is safe To compensate for the risks Of foreigners
making investments out Of their own country there 10
The in the United States Of better returns for
shs capa invested than generally made In Europe
With these inducements therefore, 1t not unreasona-
be 10 suppose that large amount OF Foreign capitsi
day find it's way 10 shores and It Is not unnkey
that the observations and conclusions Of the English
csptalsts referred 10 may exert material and immed
ate influence Ia this direction
The primary object Of their visit Is probably to inquire
into tho condition and prospects Of the Atlantic ana
Great western Railway, OF which Sir Samuel Morton Peto
il chairman of the London Board OF Directors; put
much wider range Of observation Is doubtless intended
wha hoy may do or what they may leave undone no
rrest CONSCIENCE to young and rapidly growing country
Hks mis- bu. 4, is interesting 70 and speculate upon
,pscsi incidents Of this kind The party viii soon DO IN
..ssnx the Atlantic and Great Western road which was
aIoss entirely constructed with English capital and
,hsreere the following extract from the report OF the
e.sssr chief to the directors in London, dated May
u, 1895, Is timely
rhss the sa,,sfacon TO report the completion Of the
main tine OF the Atlantic and Great Western Railway IN
cIudns the extension TO Cleveland, the western coa
6alds and Silver Creek branches shown on map at
taohsd 70 this report with all necessary stations sdnss
water tanks &c.
Tho total length Of the Atlantic ana "rea' western
RAILWAY no" 00"p''''' Me,
Main ne-Salamanca 10 Dayton. ................ 3so
Cleveland extension (broad gaugel. Oh
western Coal Field branch FRANKLIN 10 OIL City.... %
silver Crock local branch, ...-...."'.......'...
r>., ATS
vAc.,on uronosed and psytslly constructed.-