The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-09-07
FINANCIAL AND COMMERCIAL,
WEDNESDAY. Sent. a-apM

NANCIAL AMI SOMWGnOtAA.
-~~~~~~-~~~---~-~->~
WEDNESDAY, Sept e-ePM
The stock market depressed and the speculative
feeling very tame At the ten O'Clock session Of the
omen board this morning Erie closed at the call at s7Z
Reading 1868, Michigan Southern e5k, Cleveland and
Pittsburg 7lx, Rock Island 109K, Fort Wayne o7,s,
Ohio and Mississippi certificates 2sk At the first regu-
lar board. however, there effort made to rally
prices, and general Improvement took place. New
York Central closed higher than at the second board
yesterday, Cleveland and Pttsburg u, Rock Island X,
Ohio and Mississippi certificates u, Cumberland y.
Hudson River Northwestern and Quicksilver un-
changed Erie was per cent lower, Reading u, Prairie
du Chen u. Government securities were steady.
There sale of Merchants Bank stock at 100 and
Central National at 1857.
At the open board, at O'Clock, the market was
steady. with the exception Of Erie, which was u
lower At the second regular board there
fractional advance in portion Of the list Reading
closed X higher than at the first board, Michigan
Southern v, Cleveland and Pittsburg ~ Northwestern
u, Ohio and Mississippi certificates n, New York
Central was unchanged Erie y lower Rock Island
1, Quicksilver u. Government securities continued
steady. but dull.
Al tho open board at hafpast three the market was
inactive Coupon vetwentes Of the new issue sold at
1861 Erie 6sx, Reading 1915 Michigan Southern
66T. Cleveland and Pitsburg TX, Northwestern pre-
ferred e3x, Ohio and Mississippi certificates 20,
Quicksilver 5OK Afterwards on the street the market
lower.
The petroleum stock market showed increased activity
at the FIRST board and prices were the whole steady
Watson closed higher than at the first board yester
day. Excelsior was &c. lower United States zoe. At
the second board the market inclined to heaviness
Webster closed at 81 49, Excelsior 81 81, Tack 44c.,
Buchanan Farm Tic, United States $27 IS.
The gold market showed great rmness, and there was
active demand for coin for immediate delivery upon
which the price bid up from 144x at the opening
to las The closing quotation was l44T. The shipment
of specie by the Persia amounted to $4,000.
Foreign exchange dull and bankers sterling at
sixty days sold at 1924
The money market continues easy at a 8 per cent,
but there fewer transactions at the former rate,
owing mainly to the increased demand for money. The
discount line employs considerable amount Of capital
and grade of commercial paper passes at seven
per cent and the secured at Sa 10
Although there is no possibility of monetary
strngency, according to present indications, it
is reasonable to presume that the supply OF
loanabe funds this point will undergo some dimnu-
ton within short time in consequence OF remittances
westward to move the crops and the general redsriou
ton which follows government disbursements But this
will not be likely to interfere materially with the move
and purposes OF the bull party in stocks The de-
cline in the market value of the latter to-
day is due to natural causes. The floating crowd
of professional operators which follows the
lead of the Broad street clique has been
on the "bu' side of the market since the Kechum and
Graham failure and is practically what is called
loaded up with them Most Of these stocks held at
profit and il Is that there should be disposition
to sell among holders There parties 1t is
rumored who have been sshort" from the time of the
panic OF August and these said to be in high glec
oyer prospective fall in the market; but 1t is well
10 remind them Of the Importance OF not counting
thur chickens before they Matched The 'bears"
areus INSCRIPTIONS in serving their own ends as the
sbuIs and unmtgated fasehoods are as freely pro-
mulAted by the party as the other Deception is
gamepayed by both and such are the dcmorazing In
fuens of speculation that most spectators lie nvoun-
tary.\ Some of those even, whose business it is to
speak To truth concerning matters with which they are
acquainted yield the influence of cliques, and prost
tute thef opinions.
Acase some interest stock brokers has just been
overwhelmingly that of Jaudon & Co. vs.. Grey The
plaintiffs aed for five hundred dollarsthe loss beyond
Eve hundru dollars margin one hundred shares OF
Erie purchaed for defendant on 2ls March, 1904 at
l25k The Plaintiffs sent a demand for more margin
and notice of In default to defendants place oil ousi
ness but he VIZ out of at the time He, however,
returned Apt &C. when the stock was selling at H.
but meanwhile be stock had been sold out at l0S the
rase was submitted to the jury after the Court made the
following charge and verdict was returned Tor the
plaintiffs for the full amount claimed
Firs-If the jury believe that the defendant bought
the for investment and not for speculation ana the
plaintiffs sold the same without proper notice, then
the defendant must from plaintiffs his margin Oh
$500
scond-rhe notice served at defendants place Of bust
ness during his absence is sufficient notice. ana de-
PENDANT is bound by IT, though not personally served
Third-If the Jury believe that the defendant Dought
the stock speculation and with the understanding nat
he must keep his margin good, and defendant faiied
10 do SO when the stock declined then plaintiffs were au
thorzed sell out his stock the public Doard anu tue
plaintiffs should recover full amount claimed
The old La Crosse and Milwaukee suit is to come ur
again before the United States Circuit Court at milwaukee,
next week. and capitalist wanted to advance thu
money pay the part due interest ON the second ns
page bonds to prevent the road from being sold, me
amount to be paid is $3.50 600 There will Thea remain
niuetyHv miles Of branch road we'll equipped, suo)ec
70 the following indebtedness:-
Mortgage bonds. 400 nor
Balance due on the land grant mortgage..I' zooooo'
Total ACKNOWLEDGEMENTS.
Tho last mentioned claim the Minnesota Company
assumed on the face Of their mortgage, a'd VIII oe
Obliged TO pay, 1t being the original company
The New York exports exclusive OF spece) Tor the
week ending September s. and since the beginning OF
the year, compare as follows
For the week -. s2,ss1, 1888 o. ?sssos s2s2s ESQ
Prov reported =. ll9,o47, 1874 14eoe7eSe oSo
Since January si2l a27 SIS, 1854 oe4 slos, acc
The New York imports compare as follows
Or, Goods. 81 l ,sss,a.s sl,s ss, sassa
General merdse... 1,s4s4so l,ss7,ssa l"S,oo