The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-12-19
FINANCIAL AND CONNER CIAL


The stock market opened strong al early session OF
che public board this morning and Erie sold at s3s, New
York Central 96H, Hudson River io9AS, Reading los,
Michigan Southern 763s, Cleveland and lltisourg s3h,
Cleveland and Toledo 114z Northwestern 1914, Fort
Wayne l0o At the regular board however these quo
atons were not fulIy sustained the speculative feeling
being rather tame New York Central closed 4 lower
than at tho same time saturday, Cleveland and Toledo
a. Ohio and Mississippi certificates y. Erie and Cum
berand were steady Hudson River was Il higher,
Reading allowing for tho per cent dyidend) IL,
Michigan Southern IL, Cleveland and Pittsburg y,
Northwestern Ia, preferred 4, Rock Island u,
Fort Wayne q. Government securities were
dull and vetwenties Of the old issue declined "
thirty notes OF the series r. Tho advices by the
Peruvian reporting decline OF ~ in fve-twenties
the London Stock Exchange, and about per cent in
Erie and Illinois Central, exerted slightly depressing
influence upon the market
At the open and regular boards at O'Clock Cleve.
land and Pittsburg hammered down to o. but Eric
advanced to a. the OF the railways being about
steady At the halfpast two session Of the regular
board the market was somewhat unsettled. New York
Central closed y lower than the rst board, Reading
u, Michigan Southern ~ Pi,sburg 4, Northwestern 4,
preferred 4, Cleveland and Toledo ~ Rock Island q,
Fort Wayne u, Ohio and Mississippi certificates r.
Government securities were steady and dull
At the open board at hafpast threo Cleveland ana
Pittsbdrg weak, and the rest OF the list barely
steady New York Central and Eric excepted, which
were Arm. Erie closed tho call at 9S1s, New York
Central 9s7< Hudson River 1921, Reading ex dividend
1875 Michigan Southern 75T, Pittsburg eo3l, Ceve
land and Toledo >II3L Rock Island 1o77f Northwest
361s preferred 6a.I Fort Wayne o. - 1864, Can
ton 40.
Afterwards, the street, the market was hrmer and
Cleveland and Pittsburg to elis but was soon
hammered to SPY The rest of the market excepting
Erie, which remained firm at o37S "a, SYM
pahized slightly with the break in Pitsburg Reading
closing hall-past Ave P. NJ. at 1867. 1o7,
Michigan Southern 1855 %, Northwestern 3696 4.
Pi.tsburg s9&. The recent advance in Cleveland aud
Toledo and but to less extent IN Michigan Southern
Yumored to have had It's inception In prospective
rangement between those COMPANIES and the Atlantic
and Great Western Railway Company for enabl ng the
latter tomake through broad gauge route from the
Hudson River TO Chicago. The break in Cleveland
Psburg is evidently the work Of OF the former
buyers of the stock for election purposes Who having
sold out on tho top wave during the last two three
days wish to get their stock back al lower figures and
probably at the time hope accumulate short
interest which will materially the upward
ton On the whole, IL is good stock leave severely
alone.
The regular Stock Board passed resolution on Saur
day forbddpg any OF its members doal directly in
tween the two boards becoming keener II is diica
however any good reason why the regular board
should trouble itself about tsmore democratic neighbour
why, indeed, the latter might not be rendered an
auxiliary to the regular Stock Exchange. The
board on former occasion passed similar or
dinance, which it had subsequently to rescnd;
and in like manner the regular Petroleum Board
prohibited its members from dealing at the open Pero
ieum Board, which prohibition became dead letter
In order to evade such regulation is only neccssayfor
broker to ge OF his clerks to do the business at
the open board through member Of TINT association;
and this has been The general practice formal
restrictions Of the kind have stood in the way Of ndvi
dual interests The regular board has given the cold
shoulder in the OF unmstakable the open
board and the members of the latter have make up
for the loss Of brokers' orders by specializing
among themselves. The result Of the contest for such
It may be Called will probably be to weaken the power
influence OF the open board by giving the control OF
the market the regular board bat there
why the former should continue to do good bust
meas independently of the other.
Money has been easy at seven per cent with few
exceptions at six aud the large balance in the Sub
Treasury, together with the dividend disbursements
" public companies which will shortly be made,
favor the expectations or increased which
kfe entertained in we'll informed quarters. The
statement OF the associated banks for the week
indicates considerable increase OF loanablc funds
at this centre the deposits being a. 1el In excess
OF those OF last week. the legal tenders S65 100 and
the circulation $l54l12 The specie has also Increased
81 1858 655 while the loans have decreased $.4,o5s
The banks are thus shown TO DO Ia decidedly easy
position The Western money markets are at the same
time quiet The respective totals Of the statement
pare as follows with those Of last week.