The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-11-21

morCnents ~ tho um0 ana SuLA5qucutiy-
January. ETA 1854. 74s gne.. Ella $50 100
Fcoruary...... l0llo,Oo5 iy.......... l4soI o9S
March. ........ 11620,354 August. 1850 100
April. ....... 1s,S6o,4l4 sptember..... l8,67l,o1s
May ........... l5s70.lsl -
Total .......... .f141 $685. s98
In the Same period Of 1896 10 total was fIl9 717377
and in 1884 ELS, 4ol. 1oi.
If, therefore, financial paac like that referred 10
failed to involve commercial rvuson, II is easy TO
that had the panic been Commercial one II might
equally have failed TO product financial crash also.
Tne argument holds good hop the other side OF
the Atlantic. and . panic ambg merchants If It took
place. would by DO likely TO involve deprss-
sion the Stock Exchange ndced the very contrary
would probably DO the case But we are assuming
very remote possibility whom e speak Of CONNER
,oial panic at tho present time In this country.
SO iong as the currency remins at any thing like its
present high level and rredeeabe In specie, there
be revuison The commerb and trade Of the ma
tioa are now resting on safebass than before,
because the volume Of currencn circulation alike with
It's being rredeemable acts safeguard both against
tight money market and forign DRAIN Tho mercan.
tile community are, generally spaklng prosperous aud
trade only dull far a. contrasts with previous
activity In solitary nsancedfailures may take place
owing ovcrradng but Their Is no real danger FORE
shsdowcd In this Most Of the k about gloomy feel
ing among commercial s y invention OF the bears
on stock Exchange. and haspo foundation In fact
Tue money market was easyAt six per cent, which
all tho banks arc now aslng, with ono or two ex-
captions at seven At the samsIme some OF the banks
have I've per loans still Outstanding, and first class
Borrowers In most cases supply themselves NJ Ave
per cent fictitious activity Nmparted in quar-
by borrowers themselves oAring to pay seven per
cont upon margins Of twor three per cent but
shis rats Ia too exceptional to Ia II would attract
captal In large amounts from boston and other cities
whore money Ia with difficulty loAed at 1ve per cent
Those who buid their hopes upodongress reducing the
volume Of the currency LILLY TO DO disappointed
II VIII most probably curai the pwer OF tho Secretary
or tho Treasury 70 reduce BY ttpg the reduction OF
icgal tender notes TO . rate no exceeding fifteen
twenty millions per annum.
At The open board ten o'clok the market hrm,
and Eric lsaiss 400 sharcs) ID at 7sx 10, North
western SIX H-do preferred TAX x. At tho nrst
reguas board prices were ashadower, bu: the specu-
lative feeling WAS confident motto say buoyant, on
portion of the list Erie and Now trk Central being tho
strongest OF the railway shares New York Central
CLOSED y higher than at the samGme yesterday Erie
lh, Reading u, Michigan Central Michigan Southern
4. Cleveland and Pi.tsburg 4, Ceyeland and Toledo
~ Rock Island n, Northwsstsrrprefsr X, Toledo,
Wabash and western n. Ohio andississipp certificates
", Pacific Mall 4. Quicksilver Canton X, Western
Union Telegraph V, Atlantic Nj ., selling A. liz
Thirty four firms and indivdual holding twenty
Thousand nine hundred shares the forty thousand
shares Of legally Issued stock OF company have
made declaration that they did os vote st tho recent
election because the stock had no(sood In their
for thirty days the books Of DO company, and
Aers,anding that the election hid on the 18th Of
Move mbsr n being contested by some q the
cid Board Of Dirscton nv say they have
thoAn ~
intercsts Of tho Atlantic Mail Coany require chat the
former board Of directors SHOULD be superseded and
they further express their approvi Of the selection or
che now board, composed Of hssnL Msigs, Harrison,
Joeyn Buttsrnsd and Others and trust that their right
20 tho ONCE OF directors may be maintained In add.
tion to those holders who did nd VOTE thousand
-four hundred and forty shares voted upon for the
board and the company hold In iu treasury four
thousand three hundred shares which cannot be voted
upon. balances Of three thousarp three hundred and
sxty shares remain Of the capital pck Of the company
which has not Jet been represented An nunction
strsining the the directors irn taking possession
OF tho property has been issued by Inc Supreme cour
and the case viii shortly DO argued Chambera
There increased frmness shovh the demand for
government securea and coupon ve-twcntics OF 1864
closed x higher, Of 1894 x, itue Of 1868 X, ten
fortes u seventhry notes OF the fist series ~ second
ssrcs ~ Among the State stocks brth Carolina sxes
now. advanced u, Missouri skies y.
Al the one O'Clock sessions the market was steady
but dull At the balfpas. two bard il was without
material change, except for New Y,rk Genital which
advanced to i1ok. New York Centl closed tx higher
than at the nrst regular board, Reading n Illinois Gen.
srai =, Northwestern preferred " F.rt Wayne H. Erie
vas lower. Michigan Southern u, Cleveland and Pits
burg y, Northwestern v. Toledo w.bash and Western
y, Ohio and Mississippi certificates X Western Onion
Telegraph u Government securities continued arm,
and coupon nvetwenties OF 1867 cioed at an advance
OF Y, issue Of 1905 y, sevenhrty mites Of tho second
series y. AT tho open board At hlf-past thrcs the
volume Of transactions was very light New York Con.
srai sold At ITO, Michigan Southern s3< Hudson 1884,
Beading ilsk, Cleveland and Pitlsurx So. For,
wayne i07, Rock Island 1o5,.. Northeastern s2<-
pe,erred .3 Afterwards The mark duh I'M
% the coss Of business and half pest ave the follow.
Eng Quotations current the market closing steady -
New York Central iiok . Y, Erie 7s1 . v, Reading
1isH y. Mich gan southern 90 ~ Illinois Central
y2o ~ Cleveland and Pittsburg sax ", Rock Island
yo5E q u. Northwestern sax I-7rcferred 7s,s "a,
Fort Wayne i0ox i07, Western Union Telegraph AK
X. Compound interest notes were quoted under BY
she desisrsJuns, 1864 ii5,s iie July ii5 X, Au-
gust iisk lis. October ii3H liza December l12k
ia, May. 1898, IIiK liz. August nok AZ, sep,em.
Der ll0a X, October 109h ITO.
Tho Pacific Mail Steamship Company has declared ts
usual quarterly dividend Of Ave per rent payable the
lat Of Deccrncsr. and also stock dividend Of % Ia per
cent payable % the "a Of January next
Ihe gold market TO have touched bottom, and
- the decline y 10 nrm. The opening price vs lnx,
followed ~ 90 advance Of y and decline 20 lso,s II
subsequently advanced 70 iN,s. and closed At four
eciock a. Aih ~ The supply OF coin continues
abundan ana loans made nar and Il - Der cent
vsr diem in favor q shs lender The foreign imports Of
gold 81 this port iron the commencement Of the wear 70
sAs cad q ocsobsr Aggregated o. sos while the 70
ssp,s from California sss s27 ga the total receipts
tssns elAoso.2n Ths erpous during Tho sane period
From this port snoastsd 10 tss Sss TAO shswsss Ieus
pasos NE W Of January q s,l,sssss1 /.