The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-10-11
FINANCIAL AND COMMERCIAL.

Sac tcp1ed reaction which tho le@nhs 'ou.is ne-
seeded bringing about a. tho end OF last week. IN tho
double purpose OF increasing the 'shot interest and
suync in at the decline. Brokers, professional opera
xors ana outside spectators are equally 1ger 10
puy and sNerss 10 selling, with the exception
- those who are already "short" ard who with
yroverha suhbornpsss, unwilling then
course be market bnt perssvere consistently til
shsy oAher break make. That tho natural tendency
Of prices was upward we long foresaw and pre-
sictionr fully verified by eveDs but the fnil
extern, the which probably yet awaits the market
q not generally anticipated The speculative temper is
Duw Of that character likely to lead and
provoke recon but meanwhile scenes as wild as those
of the nrs hree mouths OF 1864 wiz probably he
acted
The money market remains al four per cent with
exceptions At five and the demand for loans less in
proportion 10 the supply of capital than it was last
week The of drst class commercial paper
Offering for discount is nsigniic2ny light and oonse-
susntly lenders have look almost entirely 70 the
Stock Exchange for the employment OF their funds The
best names are freely taken n, a per cent, but
Inferior signatures have 10 run the gauntlet Oh the
hrokerH
A. the open board a. ton O'Clock there was active
Adding for all the leading railway shares and prices sd
vanced the cali At the 1st regular board the mar
lot was very FIRM while Michigan Southern and Illinois
Central were strong New York Central closed y higher
Than at the same time yesterday, Ere l-preterTed I,
Reading Y Michigan Southern a. Clev Gland and Pitts
burs a, cleveland and Toledo Ia, Rock Island a
Northwestern S-preferred "a, Toledo, Wabash and
Western 4, Pacific Mail y, Cumberland " Western
Union Telegraph 5. Ohio and Mississippi certificates
we're 4 lower, Aariposa preferred q. Goverumen,
securities barely steady and without any marked
Feature Coupon nye-twcnties Of 1862 md 1865
!. lower seventhrty notes of the third series "
A.
North Carolina bonds Y. North Carolina sixes were
4 higher, Missouri SKIES a.
At the O'Clock sessions the mar steady at
fractional decline At the Lalf.past board prices
wero in the ascendant New York Central closed q
higher than at the first board, Michigan Southern u,
cleveland and Toledo D. Northwestern 1s-preferred a,
Toledo, Wabash and Western y. Ohio and Mississippi
certificates y, Cumberland a. Erie u lower Hi
acis Central a. For; Wayne r. Government securities
neglected, but steady in Tone Compound interest
quoted thus the counters Of the Dealers:
Juno, 1854 III III July, 1l6ts -; October, 1f5 u;
December, ia a ~ May 1885, liz 1l21a; August,
no.. IlI1s; September, ITO q y; October, 1904
JSok.
Al the three O'Clock open board the market strong
Hew YORK Central sold I1e-, Erie sl Hudson 1908,
Reading 10y L. 81, Michigan Central 1l6s, Michigan
Beuthern 90L, Illinois Central 12sA, Cleveland and
Pittsburg ", Rock Island 1857 Northwestern AK
preferred 7Ass, Fort Wayne l0eh. Afterwards there
was undimnlshed demand for all the active railway
shares and nj hafpast i've tho following quotations
cuuent:--New York Central 1lek -, Enc - !.
y. Hudson 1901 12i. Reading 1lelS u, Michigan
Southern GOV y, Illinois Central 1913; Cleveland and
Pttsburg 81 y, Cleveland and Toledo 12ek 1877;
Rcck Island 1851 q, Northwestern 45H a-pre-
fmTed TAX rs: Fort Wayne 109a4 40, Ohio and
Mississippi certificates 3311 II, Cumberland VA,
Quicksilver 54h.
Tho gold market strong and excited and although
the supply Of coin for delivery abundant in
parsop with what has been, loans being made at l16
per per diem in favor Of the lender, tho price
sds snood before three o'clock to 1914 after opening at
lAs% and selling at l40. There . relapse from
che highest point and the closing quotation
1SeA. The advance generally attributed
- the supposed result Of the elections
~ Pennsylvania, Ohio, Indiana aud Iowa, and the IN
6srence among many that because there
Sblican there would consequently be radical majorties
AsA that these wosld render conflict between the Pres
Aent and the radical wing Of the republican party all
NE imminent. This, however, 10 based upon an
sssoncona idea The tendency Of republican majorses
- towards conservatism, for without them the
0Mxa democratic faction would be likely 20
asaain the ascendsncy. and this would cndangsr
conflict with the ultra republicans, and 1t ID needless
- say that the sympaihiss the people large
~ah neither OF these facons II is the interest OF
Che country that the balance OF political power should
- preserved and that the dangerous elements which
lurk in the radical extremes Of both parties should DO
Sept in due suhiecon and there time when
necessary national salvation
chan now The "bullsn In the gold Market there
fore, In trying to make capital out OF the eiections
HHirnicrprcing eventa There Ia little danger Of
che radical republicans becoming powerful faction
ahan present. and the ultimate result Of the elections
~~s1I. 49, 49,,
The foreign exchange market dull, and the draw.
eag nomnaly unchanged The Tentonia,
esom Hamburg landed to. day 211 500 francs.
MINING shares sctlve and 6rm and among the
COasnsdo gold stocks Corydon especially strong. At
~ first board Church Union closed loc higher than at
Ahc time yesterday Corydon &C., Fall River l5c,
kmnh rarmiee 81 SIS. AT the second board Church
pnon closed &C. higher than tho nrs, board selling
g. Corydon Sc selling at 90 10; waikiki Lead Sc sell
sng 81 40 Quartz Hill lsc lower selling at IS o6;
Smith farmlee 25c, selling At sl3 So Atlantic and
Parinc sold 81 Corydon SO TO- Ea River 81 So Gun
neil Cold 81 20 Kipr Buell. g. Is, In Crosse Gdd
%
The dry goods trade s active and prices nrm but
Enc imports are smaller scale just than they
have been OF lse The value Of the goods entered
iat this port In September SG,3is,ls against
ol0os7, b5s for tho month last year The with
Arzwsls from warehouse S3,70s,4i5, against
ol48q 600 FOR september 1893 the amount entered for
~Arebousng. s2e27+ 94 against siIe Io2 for the
esTondpg month last year Thus the total entered al
che pcr, in September 1906, valued 90 1888
aeainst Sill 1885, 5f 1895 The ofcis Of the
Vsr, for the nine msnths commencing on January 70
1884, 1898 and 1860 respectively. Under
ESrxrp CoSSrrrrIov
1884 lseS. 1870
1aannrt OF wool. fi5,;si,eto Sl7 soi32! $40 81 ssJ
DO cotton 6ie5,7so sei230s ~ ssi. SOS
Do siik.. l0.t1TS7 lies o8s IA 335 sa1
DO far s,O<e,p4 ess,2ts loe2s.1ss