The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-10-19
FINANCIAL AND COMMERCIAL.
THURSDAY, Oct 1876 P.


THURSDAY Oct 1876 p NJ
Tho stock market has exhibited very buoyant tone
to-day and the bears yesterday entirely discon-
oerted in consequence Some OF them have been en-
dsayoring 10 coyer their shorts but fast as they
tried TO do 30 prices advanced upon hem and the result
Of their operations thus rar in the week Is heavy loss
Not only have those OF their number who previ.
ousy "bulls" lost their cash stock but they find them
selves called upon 10 borrow stock to make their
deliveries on short account TO be forced to
buy which at current prices would infict upon
them serious loss. The prospect is at the same
time favorable to further loss in proportion the rise of
prices The upward tendency Of railway shares is OF the
decided character, and the evidently far
from eliminated The chief interest OF the market Is
just centred in the Northwestern shares which
nearly four per cent during the day. under heavy
actions based mainly upon the greatly increased
ngs OF the road which attracting the attention Of
investors TO It. In the other leading shares
wolldslrbuted business at advancing prices, New York
Central selling up to 1901 Many who became bears in
tho early part Of the week have bulls again. the
strength OF speculation for a rise having been
proven by the recent "bear raid inspired fresh
confidence 1t among those who were before wavering
The attempt to create impression that the money
market tightening has utterly failed fate which
ultimately awaits everything false. The report too that
tradictcd although it is admitted that OF the hold
ars OF the bonds 1867 and 1858 have been shown an
inexcusable piece Of favortsm in the payment of the
principal Of the same gold In advance of their matu
rity, while equal privilege has not been
extended TO the other holders Of these secu-
rites Tho supply OF money available for
on the Stock Exchange is in excess OF
the demand, and loans made freely to-day at
four per to first class houses and speculative
firms, with exceptions at 81 to few dealers in
securities all the conditions affecting the
money market being favorable to prolonged ease
At the ton O'Clock open board the market showed
OF sharp recovery from the depression even
ing Erie sold at $685. Northwestern 44Ts-preferred
74&, Michigan Southern 9014, New York Central 11sk
At the first regular board the improving tendency Of
prices was further developed in strong demand for all
the leading railway shares-New York Central closed
higher than at the same time yesterday Erie preferred
4, Michigan Southern =, Quicksilver u Erie Z
lower, Hudson River ], Reading ~ Illinois Central ~
Cleveland and Pttsburg x, Rock Island a. North
western h-preferred y, Fort Wayne l, Chicago
and Alton Y, Ohio and Mississippi certificates
u, Mariposa preferred Il. Government securities
we're firm Coupon SKIES Of 1881 showed
advance Of y, hve-twentes OF 1882 u, seven-thirty
notes OF the first series Il. The other stocks
steady. North Carolina skies 4 lower At the
Northwestern to Az, while Erie sold at SO. New
York Central at 120k and Michigan Southern at 9OX.
AT the haf-past two board Northwestern closed per
cent higher than at the first regular board preferred ~
Ptlsburg Y, Rock Island &, Fort Wayne x, Alton and
Tsrre HNute ~, Cumberland x. Al the three O'Clock
open board there very strong market attended by
q further advance, Northwestern leading the upward
movement. New York Central sold at l2ok ID. 81 Erie
ss,S, Hudson 127X, Reading ll5x, Michigan Southern
cox, Illinois Central 120k.- Cleveland and Pttsburg
S2k, Cleveland and Toledo OK. d. 49, Northwestern
%7x-prcfered 75k d. 81, Fort Wayne 10oT, Cumber-
land 5sh, Quicksilver 5oX, harposa preferred 20,
Western Union Telegraph HK After the call North
western sold up to 4s, in the midst Of great ex-
element The stock OF the latter road
amounts to $l3 l60o27 at It's par value and the pre-
ferred to $12 7le The road 679 miles long, in
GLIDING the branches, and s earnings from the LIST of
June last TO the end OF the rst week OF the present
month s. 1856 06s 1856 larger than those for
the corresponding period last year. The market con-
nued strong TO the close Of business at hapas
nve tho following quotations current :-New York
Central 12o% ~ Erie ss>S 81 "a, Hudson l27X l2s
Michigan Southern cox y, Illinois Central 1877 "
Rock Island 1857 ~. North Western AK 4s, Pre-
fsrred 75,S y. Fort Wayne ITO y. Ohio and Missis
sipp Certificates S3S Y, Quicksilver 6oh a y, Mari.
posa preferred 2oah.
Tho gold market nrm but free from excitement
Tho opening price was lAs,z, followed by decline OF y
and steady advance 70 1851. From this point Il 70.
lapsed ol4s, the quotation four p. ~ There was
very light borrowing demand for con and loans were
made at 132 e4 per cent In favor of the lender and
Stat
Mining shares were strong and excited, the demand
being mainly for Colorado gold stocks Tho transactions
In Corydon, At the first board aggregated $500 shares
at 81 10 ~ 49, advance Of 40c per share upon the
closing price at the second board yesterday The
OF the Nye Gold Mining Company also actively in
demand ~ &c. a CSC Davidson Copper was quoted at
81 Al the second board the excitement in Corydon
increased, and the sales aggregated 1900 shsrcs
stock selling up to 81 S. advance of Acc upon the
highest price touched at the nrst board. Some
attributed the sudden advance to q "short" in
forest, but the majority assigned it 10 the
unexpected developments at tho m,ne the stock being
generally favortc with buyers who avoid the sfancyn
shares. Tho mining speculation Is absorbing more at
tention than 1t has done for years past aud petroleum
stocks have fallen into utter neglect
Tho foreign exchange market continues very firm and
moderately active Bankers bills England at sixty
days are quoted al 1885, al, at three days 100 a Y,
commercial 10T AK