The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-10-27
FINANCIAL AND COMMERCIAL,

Il. m.
The stock market exhibited most decided tendency
towards improvement at the opening Oh business TINS
morning and at the first session Of the public board
,r,cas were higher than at close OF business last
evenng Al the first regular board Il steady, with
the exception OF Erie which strong closing at two
per cent advance upon yesterdays second board quo
tation Prairie du Chen u, ohio and Mississippi cern-
Gates n, New York Central u. The latter was vigor-
ousy hammered by the brokers representing the party
buying with obtaining control Of the road, and
who OF course want TO get the cash stock as low as they
well known gentleman who Is allied in interest
with those who control the Hudson and Harlem roads
has left for Europe with the view Of securing proxies
there and this together with other signs foreshadows
spirited contest and probably change OF MANAGEMENT
in the future Reading closed 4 lower. Government,
securities were depressed consequence Of report by
the Africa that Ave-twentes had declined 67H 6s
the London Stock Exchange. Coupon Of 1881 de-
clined y, five twenties y, now issue r.
After the call Erie rose TO 90. notwithstanding the
quotation Of SIX 5SG for the stock In London, and 1t
generally believed that the speculative director OF
the Erie road had become buyer The English railway
party visited fhe room while the board was in session.
and afterwards made call at the Gold Room and Sub
Treasury. 1t was at the same time rumored on the
street that they were buyers OF Erie IN their personal
1t is all but certain that unless the Atlantic
and Great Western Company make satisfac-
tory arrangement with the Erie road they VIII
build extension OF their TO New York. which they
say they do in eighteen months from the time OF
commencing operations But now that the speculative
director the turning point from ''bear' to bn
the prospect Of arrangement with the Great Western
Company brghtens and it is more than probable that
they will have occasion construct the threatened
highway from Salamanca.
At the open board at O'Clock the market was
strong and general advance took place.
AT the second regular board II firm, and New York
Central closed q higher than at the first board
Erie Ok Hudson a. Michigan Southern x Cleveland
and Pittsburg 37t, Northwestern preferred u, Rock
leland a. Fort Wayne y, Ohio and Missouri certificates
a. Government securities were steady.
AT the half-past three open board the market was
buoyant. New York Central closed the call 81 Il
Erie 9214, Hudson River 1864 Reading liz, Michigan
Southern 72 Cleveland and Pittsburg 81 Rock Island
1878, Northwestern preferred CAS-, Prairie du Ihon
62h, Mariposa IL u.
Afterwards, the street. the market continued in the
ascendant Eric sold at %, New York Contra! oy9l 9s,
Michigan Southern 1874, Cleveland and pttsburs 81,
Northwestern preferred ga The latter parcu
iarly strong in anticipation OF the forthcoming re
port Of the company for the last two years. II
is stated by those who have had the proof
sheets OF the report, which VIII be published
Monday or Tuesday next, and which las been looked
forward considerable interest; that it represents
the company to have hundred and twenty ave
miles Of FIRST class road and only about twelve millions
OF bonded debt The floating debt has been pad OF out
Of the earnings OF the road The latter aggregated
during the month of September last S9i6 0o0 and the
estimated earnings for the present month OF October
100000 The total of the road from last July
July, 1866 nine millions, which Is equivalent to
nine per cent upon the entire capital stock. The
pany requires two millions of rolling stock to meet
the increased traic Of the road including y locomo-
tives and thousand But it is represented thai
the company dcfray the cost of these entirely out OF
its earnings during the next twelve eighteen months
by passing the dvi lend its stock.
The demand for money to-day freely met at
per cent on CALL lenders having become confident
Of the future OF monetary AFFAIRS in consequence Of the
oGical announcement that more funding Of the
rency will take place, unless Congress, after its next
meeting, should approve such course which II may
possibly do in order the effect OF tho
three hundred millions of additional national bank
currency which 1t is likely TO authorize Commercial
paper is in moderate supply and averag, demand at
10 for the best grade
The disbursements account Of tho temporary loan
yesterday aggregated $500 00o $500 600 of which
FOR Clearing House certificate To-day about s7o0o co
were discussed upon the temporary loan.
The gold market opened at li5 and dropped to 144',
after which II rallied to l45h a l35A Loans could
only be made by paying per cent interest
the currency received
Foreign exchange dull at 100 1921 for bankers
sterling at sixty days The lrmness OF cotton here and
abroad induces shipments and dcprcsscs the exchange
market Southern bankers bills quoted at 1os& a.
Petroleum stocks generally firm at the first
board. Bennchor Run sold Mt S13 SIS, Bergen Coal
and OIL 35c Buchanan Farm &c. Bradley 81 TO- Cherry
Run 25c, First National 69c., Ham McClintock d. 81 ST.
Mckinley 10 81 So So Manhattan &c, OIL Creek 81 So
The European avices by the Africa favorable,
anticipated they would be. The slight decline in
United Setcs securities England obviously owing
the spirited correspondence between Mr. Adams and Lord
Russell on the subject of claims FOR damages by the
rebel privatccrs fitted ont in England But IL Is quite
clear that nothing serious IL likely to result from the
opinions upon International law inierchangcd and that
mutual interests viii lead TO mutual concessions which
will obviatc all difficulties.
The stockholders Of the Third Avenue Railroad Com
pany viii elect OF directors elect the old
board the latter being likely, tire sth Of Novcm
Der
The business at the sub-Treasury to day was fol-
lows
Total receipts no
Payments. ivu, -rI
Balance. .os, pS
FOR customs. %oof,ov
ON account of government loan ............ 5000
The following Is the amount Of American stocks and