The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-11-19
FINANCIAL AND COMMERCIAL

The stock market has developed increased strength
and animation to-day. At the early session of the
omen board Northwestern common active and sold
4i<as4s Reading ia Erie 81 a. Hudson River los a
Cleveland aud Pittsburg 90, Michigan Southern 1874
Rock Island los, Northwestern preferred 65i, Cumber
land A. Marposa 1874 AT the first regular board there
was brisk demaud for stocks generally, and Mariposa
and Northwestern common particularly. The sales Of
the latter the call aggregated $685. shares the stock
losing higher than the second board yesterday This
activity based upon the large earnings of the road
coupled with the favorable character Of tho
of the company The earnings are at which would
justify the payment of per the entire capt.
tai stock indicated by the figures of the report but
Notwithstanding it is semofcialy rumored that the
dividend the preferred stock will be passed.
order that the surplus earnings may be applied to
the purchase Of rolling stock. This will bring tho
common stock moro on par with the preferred,
and this effect is being anticipated, per cent
having been offered to-day for the privilege Of OK
changing the preferred for the stock before the
list of January next. Mariposa closed II higher with
sales OF 900 shares; Cleveland and Pttsburg (sales
$500 shares) Northwestern preferred q ales ,200)
Rock Island y lsales 4o0l Fort Wayne y (saies
14S0), Cumberland a Canton (saes 1,700).
Erie. Michigan Southern and Prairie du Chen
were unchanged Government securities continued
90 improve. Coupon Gve-twentes of the old issue
were q hRner, second issue slxcS Vi 1901 Ten
fortes q seven-thirty of the third issue u.
At the open board at o'clock the market firm
New York Central closed at o. Erie 90 Hudson River
1881 Reading 11416, Michigan Southern 1915, Clcve-
land Pittsburg 93S, Northwestern 35M preferred
65 X, Rock Island 1881, Fort Wayne 104h Mariposa
I41s Ohio and Mississippi certificates 1884, Cumberland
Az
AT the three o'clock session Of the open board
Northwestern common closed at a5%, preferred
65A, Eric e1K, Michigan Southern 76H, Eric
s1H, Fort Wayne 1911, Cleveland and Pitts
burg 93A, Reading ia, Hudson River 1887, Mariposa
A3S, schuylkiIl ga, Canton ASK.
Afterwards on the street, the market was steady At
Ave p NJ. Michigan Southern quoted at 76h Il,
Mariposa l42l Cleveland and Pittsburg s3l Northwest
ern 36H.
The supply OF money increasing, and large amounts
were loaned day six per cent The return flow ofcr
rency from the Interior and particularly the West conn
ucs and exchange at Chicago selling high q pre-
MUM The present indications favor greater ease than
we have atterly experienced during the remainder of
the year. excepting just at the close when accounts
being balanced. This will mpart strong impulse to
speculation for the especially as 1t is under
stood that the Secretary Of the Treasury Will make
very conservative report to Congress- recommending
nothing calculated interrupt the general prosperity Of
the country derangc the Of the money
market That the "bull' operators are not slow to
profit BY monetary apparent in the action OF
che stock market to-day, and will probably be still
30 during the remainder Of the month
The report which telegraphed to one OF tho after
neon papers relative to further funding Of interest
bearing notes is without foundation in fact Mr. McCul.
loch will not interfere with the currency beyond
meeting the five per cent notes which mature OH the
list Of December to the amount Of about eighteen mil
Hons pending the consideration of the financial qaosion
pound interest notes. of temporary deposit
and PLAIN legal tenders be Withdrawn from tho bal
in the Treasury ind stb-Treasurics This will
tribute TO the ease Of money market by converting
inert into active currency.
The discount line firm First class paper submits In
the majority or instances to per cent, the Trans
actions at being mainly between bankers and their
customers. The second grade is quoted at 10 a H.
Gold dull but steady. The market opened at
1857, advanced " and closed at the opening price The
export Of specie by to.day's steamers aggregated
$43o 099 making 81 0lO ASS for the week. The deposits
OF gold coin in exchange for certificates made at the
DubTreasury amounted at three p NJ to 81, 800
which $3.50 900 paid in the 10Th ins $4Is 900
IN the 10TH $643 900 the 18th and S6Si 400 to-day
Is the certificates presented for payment the sub
Treasury received for customs duties they
loed, after the OF the Bank Of England notes,
which reissued, aud heron lies a great pro-
lection against forgery
Foreign exchange was duh but steady al 1881 100
Tor bankers sixty days bills.
Petroleum stocks dull At the first board Pitholc
Creek closed 33c lower than at the same time yesicrda
sdrAe at SIS 40 BennchoG Run was zoe higher sell
ing at SIT; Nev York and Newark l7c selling ut IT,
Pithoe consolidated closed at So 20, West Virginia
Coal and Oil l5c, Bradley ST. Manhattan Soc Mckinley
81 Is. Mining-Benton soc, Aztec Copper 81 Smith
end Parmlce s4.
At the last monthly meeting OF the directors OF the
New York Central Railroad Company the resignation OF
Hon. j. v. L. Pruyn treasurer was csvcd and
accepted and Mr. Edwin u. Worcester cleo ed in
stead and Mr. Robert L. Banks, the present secretary
was elected 80 rotary and assistant treasurer
The Board of Public Works of Virginia having called
ng Of the stockholders Of tho Orange and Acxan
dria Railroad Company for the purpose or elccting
president and three directors for the ensuing year they
accordingly assembled the 18TH inst at Alex
andrla Va, for tho purpose OF organization
committee OF r0de was appointed TO examine
proxies but they found such Of proxies to
anime that they reported they could no. be ready TO
decide upon them AS requested In the mean
time the proxy OF r. !. Barrcda, now in London,
and formerly Peruvian Minister to tins government was
presented by his friend aud attorney George d. fowe.
or the firm of Fowle Co, Of New York Great Efforts
dent OF road and his friends to induce Mr. Fowle 70
his heavy vote in their favor having been pretty
we'll asccrtained that his own and Mr. Barlcda's vote
would elect whomsocver received It. Finding Mr. Fowc
nn in his decision TO effect change in the old manage
mont Of the road amsiory OF the Committee on Proxies
decided by the mos, remarkable exercise Of arbitrary
lowcr ovcs Individual rights to reject Mr. Barrcdas voe
ppoo tho grun6 81 his proxy being general In It's
character. upsr tnw decision being made known Mr.
hcKengic ono OF the committee, immed ately an.
bounced hs determination TO retire from the meeting
and declined 70 take further part in its proceedings.
The friends Of Andrew Jam cson the opposing candi-
date for the presidency finding that they controlled
considerable majority Of the stock, assembled the
evening" and organized the meeting by the appointment
OF Robert II. Miller, Of Alexandra, a. chairman, and
Reuben Johnston, OF Alexandria, secretary. Msrs.