The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-10-18

WNDNr14DAL
sno stock market opened with ouoyaas tone 'his
oraine which VAS however ost lasor 10 INC my auo
towards tho close OF business il became heavy. Some
Of ma vsak ho,a,a az yay shares been induced
% raIze nv The araumeuts Of the new 'bear' party
which has bean formed; bat there ~ little probability
thai the decline viii make much further progresS while
Aanick reaction from the depression may be regarded
.. ,navabe tbe main strength Of the market well
s,tho natural tendency OF prices being on tho .hul'
uda TIE bears have endeagcred 10 create an i'm
o,sssiop maj money il likely 10 become active;
A,t Ia ~ obvious thai monetary affairs
.re such r. TO abundant supply
ct currency al this centre for The remainder Of the
year although the advance 70 per
without any degree checking operations for rise
me Stock Exchange Loans made freely a. q
per cent ana in exceptional caaes, government Sc
asites at "a por cont while the best grade Of
r,erclai paper of which there IL very limited suppy
srartne, is discounted at per cent. On the asth
ansrant The remaining fifty pes cent Of the Clearing
HOUSE certificates WIN mature ana the hanks viii then
"a likely study their interest by Withdrawing
sher equivalent IN currency from the Treasury than 10
allow 10 to remsin without interest, n los vaults
The Southern exchanges sli htly aaaius: ua bnt
shs western exchanges turning in favor The
cincirnati Gazette OF Monday remarked -
Thare is active demand FOR currency from the coun
Try, and there also indications Of necessity for ship
nents nj currency New York for The purpose 81
shange The latter Is now against this city, though IL ia
ssli In favor Of The Northwest Exchange ruled very
arm Saturday at par 10 Doc. premium buping--the
Asftar the prevailing rate--snd ITO premium selling
Owing the ghtness of tho cotton crop and the fact
nat tho South s already well supplied with currency.
mo drain southwark fan VIII be too uncomfortable
10 materially influence money market here while II
b unreasonable expect ;hst the return fow from
Ghe West VIII nearly If not fully offset il.
A the open board AT ton O'Clock Now York Centrs,
g..
sun 49,, For Wayne 7594, Erie s3l, Hudson River
1881 AZ The hTsi regular the market was steady
IN tone, but prices slightly lower. New York Cen
fsal closed 2f higher than at tho time yesterday
xrio "a, Reading H. Hudson River 2 Michigan Southern
n, Northwestern a-preserred u, Fort Wayne X, Rock
hhna X, Marlposa preferred Ia. Bank shares we're
urn and Continental sold l05 Fourth National ITO.
Government securities firm, but duh, under the
ssctaton Of 6saa For veweniies The London Stock
Exchange, supposed 10 be coupon the foriniphtiv
sstting day failing The 10th OF the month. Coupon
Avewenties of the old Issue - higher; the issue
Of 1868 steady
At the o'clock sessions the market was without
animation, and prices generally lower At The half
past two board il irm, but prices lower than
Nose current as the morning New York Central
showed decline OF Is, Hudson River i, Reading a.
N,chigan Southern ", Northwestern if-preferred *,
look Island as Fort Wayne p, Marposa preferred a.
Quheksiver was Il higher Government securities
stronger. Coupon nve-twentes OF 1862 advanced H.
At the three o'clock open board The market ham
Desed by the '.besrs'' and depressed by the sales
Of weak parties 10 realize, but material
assnne took place. New York Central sold
- lasx, Erie s2x, Reading l1S Michigan Southern
sex, Rock leland los, Northwestern Az Fort Wayne
NO u. subsequently in Tho long or the Stock
IxchaDge there further ksmmering, and brokers
saving the ioudcst voices employed TO offer
single hundred shares, seller three days. Eoigbth
os1ow the regular price The market, however,
very ,hny represented aud the disposition the part
- the leading balls appears favorable TO allowing the
bears 70 get little further into The net before "wist
ang" them, when unusually sharp rally may
- looked FOR. II IS very evident FROM all
- conditions arsc.isg the stock market that
0e rise has by eliminated, and those
Wh0 have the Nsnerity to sell 'shcrt' must be
Dr0pared for squeeze when they least expect IT,
Ne market closed steady a, the decline tho quotations
GuuTent al hairpast 1--WE bc.ng under:--New York
Usatnl 1l7s< lis, Erie slys s2js. Residing IlsA
M. Michigan Southern s9h =, Northwestern a.. a
eK--prcierred 74s -, Rock Island los 4, Fort
wayne 1855. Z, Ohio and Nlssissirpi certificates
0s&
The gold market mas been bsrcly steedy. although
ADULTS entertained by the quotations for
1vetwenties In London being OK. dividend, while the
eepUt that the Treasury selling gold no longer
ssveo credit The opening pncc las, followed BY
oscline TO 14st and subsequent IN provoment 10 1857
After this there relapse Iss the closing quota
nsn Loans made lSc 1884 per per diem
- favor OF the lender and without Interest We Under
Sand That coin sreajy commands premgm OF per
cant egsi tender notes csnacs and II the Csns
sAns are short sighed enough 10 send any considers
Usrton OF their gold the uuira States the Bank Of
nnntreal viii experience run' for srecic
oaptton Of these notes, aud suspension of specie
enss viii be the result H. Canada has an tnsuh.
sns specie basis for tho Of paper money which
y 70 be ssusd under the nrw legal tender as, in
adopting which she committed grave mistake ard
soofesssd bcrsslf TO be in SEMI bankrupt condition.
me Canadian government viii cling ike parasite
sAs Bank Of Monsrcsl, which lsier viii be
DsopaIdiycd consequence AMI fsl The Bsns Of
Upper Canada msy prove have been bu, the pre-.
sussor Of still important collapse In this wsy,
end with such fsancial policy the present one,
Chnada may be reduced TO condition 81 utter nsolv-
sscy. and fuay some desperate. ministry may sbsndcu
- ship Of stale. and send deputalon Washington
% ask for annexation TO this republic In that
ne wil be Hospitality admitted, bat viii piy
- sebs@
The foreign exchange market quiet snd steady at
yesterday rates, and in the absence Of
Osd the prospect IL favorable increased nrnness
sndsr the demand from importers the commercial In.
astAsiness o. this couaisy EUROPE bo.ag heavy,
while the general expectation that tins cotton
crop vii AL eonsidersby below million
hsies "a sdysTas. d~cus hc draw
ing rates some Is Expressed c., tho manncr
81 collecting The cotton tar IN No should mpede
sbe free u2nnn.ssion q toe staple u market ~
sesdisss Inst every sncJl8 bs collected the
way most convener, tho.e pawn: az sane a.
some vexstcus regulations relative The collection -
sSe cotton tar appear p - n force en- vpln toe
oesresary Of the Treasury 70 thsm. fsr
soesible once, aud fssiltne me removal -
FROM The panalicn g certain ceutral po.us ehsfs eve
action can be sold and tho coleccd simuuauroasr
Bs;ls on continental cites ncripsy under On