The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-10-28
FINANCIAL AND CONNER GAL.

The stock market onened with animation this morn
ing and AZ the early session of the open board prices
generally higher than at the close OF business as'
evening New York Central sold at 9SH, Erie 93ss
Michigan Southern a. Northwestern preferred 65,S At
the rst regular board there considerable activity.
especially in Erie the transactions in which very
large owing purchases to shorts as
well as to those Tor shipment on English &C
count and for speculative purposes The trans
fers of the stock In favor OF persons residing
have been unusually heavy during the week, and
will probably continue for some little time 70 come.
Erie closed u higher than the second board yester
day. New York Central ~ Michigan Southern u, North
western n preferred Is, Rock Island u, Fort Wayne
e, Prairie du Chen IL, Cumberland u, Quicksilver a.
Ohio and Mississippi certificates y. Hudson River was
u lower Pttsburg y. Government securities were
duh. Coupon tive twenes declined q. The rest OF the
list was steady
at o. But ii subsequently became heavy and then
Hm the prices ut the ono O'Clock board
being about the close of the
regular board At tbs second board the market dull
and developed reactionary tendency. Erie closed at
lower than at the first board, Reading q, Michigan
Southern z, Cleveland and Pittsburg ~ Northwestern
preferred r. Rock Island y. Fort Wayne H. Prairie du
Chen Il, and Quicksilver u. Government securities
were inactive Coupon nvc-twenties declined y Seven
thirty notes were steady.
At the open board at half-pas three the market
hammered the board but the number Of the latter has
sensibly diminished since Wednesday New York Con-
trail closed the call 96zS Erie 9l7, Reading Hay,
Fort Wayne 81, Michiqan Southern 72A, Cleveland and
Pttsburg SON. Northwestern preferred 651s Prairie du
Chen 04X, Canton A.
Afterwards, the street, the market became
stronger, and Erie closed at 921z New York Cen
trail 97a. Should nothing unlocked for of an adverse
character occur in of the money market
otherwise 1t highly probable that the bull cques
organized will succeed in running prices considerably
higher before any important reaction takes place, the
speculative feeling being strongly and mainly directed to
upward movement.
The improvement in the condition OF the money
gradually becoming general, and there
plants by houses in fair credit Of difficulty in
borrowing at seven per cent on call upon
good collateras In the discount line however,
siderable rregulary prevails, and buyers have wide
choice of names at O. IL per cent few signatures
only at per cent; bat the banks accommodate
their customers readily at the former rate expect
ing course considerable portion Of the
will be left undrawn.
Only about neteen millions subscribed to the
nifty million funding loan the Sub Treasury in this
city. The disbursements account of the temporary
loan to-day $4,000
was 1455S from which there advance of 4 and
subsequent decline 1855, followed by recovery
l45x and relapse to l45s at the close Of business.
Loans in few instances made fiat, but generally
sac per cent interest paid on the currency
Foreign exchange continues depressed large
amount OF bills drawn against shipments Of
Erie Railroad stock Is the market. Some
sales made at 1857 u, and the bills offered
at latter figure The bankers bills sixty days
sold at 10sk 1855.
Petroleum stocks firm at the first board. Blu
ohanan Farm closed &c. higher than at the time
yesterday. At the second public board Pithole Creek
closed at 49, Buchanan Farm e. 10Y roc, Cherry Run
Is 30) 24c, Excelsior d. 3o Use, Mckinley 81 35 At
the regular board United States Sold ex dividend
at 1928 co. Bennehoir Run s14 Bradley 81 TO- Webster
81 TO-
II is reported that there Is movement
foot among certain Of the petroleum companies TO
reduce their capital stocks from their present nominal
altitude to the amount Of the cash which has actually
been paid up The ridcuously high figures which
capitals originally placed precludcs the payment Of
dividends in the great majority of cases whereas under
the real capital system the latter would become pos
sible
The business at the subTreasury to day was as fol.
lows
Total receipts. 81, 1913, 2e3
Payments. IOS, $40
.oi aai o.S
ON account OF government loan ............. 10000
The projected Huron and Lake Ontario ship canal Is
OF the important enterprises in agitation.
1t will only be about hundred miles in length and
will be fed both ways from its centre by Lake Smcoe the
OF which will be ample at all times TO supply the
demand The President % the company Mr. Frederick
Capreo of Canada says when the canal is completed IL
will present seventy mes Of length without lockagc The
principal obstacle overcome Is ridge some seven
teen miles back of Toronto. Here is required cut Of
about ten miles, the deepest portion OF which will I've
about two hundred feet; but the average will BE- about
ninety feet according the surveys This ridge is
being bored for the purpose Of accrtanng the nature
Of the deposit and the Investigations far very
favorable. The roqu red TO construct this canal Is
estimated at forty millions OF dollars and the company
anxious grant of land from the Canadian
authorities defray tho costs They also design apply
ing TO the Legislatures of Michigan, illinois, Wisconsin
and other States which will be benefited by this
work. for similar assistance. This canal when finished
will doubt pour into Lake Ontario large portion Of
the products OF tho West and tend cheaper the high
frcgh,s that demanded by the various lines Of
railroads meeting of some Western and Canadian
men Of enterprise among whom was Mr.. r. J. Reekie,
the contractor of the Victoria bridge hold at the ST.
Nicholas Hotel this morning, In reference to this project
and the feasibility Of The undertaking fully en-
dorsed.
stock Exchange.
FEiDAY oct 27-10 30 A. n.
$4,000 US 6's 81 lOdys 200 shs Erie RI $50 81
6O0O0tl So g. 20 xNc i0316 200 do I'D call 49,,
30000U Sos o. 20cnieNc 1917 400 do......... 934
10000 4 So, 10-40c. S2ss 100 Erie RR pref. 80 s3i,
$500 TT T30 n, LIST 9sI 100 Hudson River RR 106ix
10000 do I'd series gi3s 1000 Reading RTA -. 115 4,
$500 do Sd series 97ik 100 do. I'd call ll5
1000 U 6's,lyrc,ni eS 400 DOM. 1852.
1000 Tennessee 6s.. 81 900 Nil 4 du Chen 62is
1000 Virginia 0s... II 1000 do......... GO
5000 California U.s.. 1l5 100 do......... 83ll
10000 Ohio 4 Miss Ger y 20 Mich Central RR 1i2L
1000 NY Cont rs 70 102 100 do. $50 Ill y
1910 Erie 4th mort. % 1000 Mich s n t.. 73n
10 shs Cen Nat Blk. los 200 do........ 73E
100 Canton Co... II 500 do......... lax
I00 40 AL. 200 do T37t