The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-10-27


Hudsoh...... ...................tta 10
Michigan Central ..............l57 92K
Michigan enthern. ............ .llsA 92H
Illinois tentra. ................13S 1926 Y
Cleveland and Pittsburs. ...... 1872 92.
Northwesleru preferred ...... OF sou
kock lsland... ..................l4ess lOy5s
SoFt"aS ne...... -l52A ios5s
To-day the most active and buoyant Of the railway
shares have been Erie and Northwestern and there has
secn very strong demand for both, under which the
former to S47 and the latter 10 57 At the same
time there we'll distributed business in all the
leading stacks, attended with than ordinary ex-
etemont The bulls saneuine; because real values
ana the condition OF the money market are equally
favorable the success their ventures and likely
10 remain Tor indefinite period 10 come. Loans
were made freely TO day at four per cent ON
miscellanens uties FIRST class stock houses and
at3a3k few Of the leading dealers in governmsnts
but there number Of exceptions 10 highly specu-
tatiye and weak houses at per cent. Owing to the
supply o. tic best grade OF commercial paper which
dtscouno1 So per cent being extremely light, the
banks large lenders have to rely almost en-
trely upoa the Stock Exchange for The employment OF
their funds aud the increased activity OF business
thereon az is them the desired opportunity There is
NO probabui,y, however, OF any other than an easy
money ma ,"i at this centre during the remainder Of
The year, e least The Western exper en-
ring ncr0s Cd monetary ease, and Chicago is the only
PITY that ias 10 report superabundance OF currency
although ev"u ihcie II is admitted that the supply Is
equal 10 tho demand. The Cincinnati GGsee Of yester
day remarkst:-
AT this tlme there Is superabundance Of money, with
ayery nasae ate demand for discouniH and inquiry
Of oonsegE0 for cali loans Bankers anxious,
however invcsi in long paper, and rates of interest
maintained a 10 per cent. On CALL money is oh.
ainable cas colaterals a. per cent There is
dealers pro 70 keep their balances In New York where
= M hi ofa M disu0.
son 70 se except Ia Customers. Tho buying
per TO 500 rem,nm, and selling 1-loth premium In
one case @e card Of currency being shipped to New
York m resent condition Of The market, as in that OF
money, - tasy.
The bank, here report that there IS no porcertibe
drain either Westward Southwark AID hat the rroba
bilties favorable to prolonged The second 30
ver cent Of The Clearing House certificates maured yes
teay. an tho banks of this city hold twen, Eve OF
rue forty I've millions of these they have ready
81 replenisiing their Golfers should the demands
d the Stock Exchange require II, while in the
event OF The necessity arising, the Secretary Of the
Treasury is empowered by act OF Congress to
make spccia issue OF fifty millions Of
sreenbacks TO meet the emergency 1t NAV be
well to remark that all the Atlantic cities equally
we'll suppl with currency, and that sns statement OF
the condition Of the Boston banks for the week ending
october ~ showed Increase of $780,, 900 In deposits
leaving asgrcrae Of sAs2asla a. their disposal,
and for the whole of which they confess themselves
unable TO lind borrowers.
At the opAn board a. ten O'Clock there was
very active demand for Erie a. s2< SO and
Northwestern at 81 ". The preferred stock sold
Is 500 v, aud Michigan Southern at s2sG
", the chief interest Of the market being
confined 70 these. At thehIst regular board there
large business transacted AZ advancing prices North
western sold at SIX u, and Eric al IS u, the latter
showing very strong undcrone, with disposition
n q ID Net
York Central closed " higher than the came time
yesterday, Erie IL, Cleveland and Toledo 1ss, Rock
Island ~ Northwestern 2,k-proforrcd y, Cleveland
and PittsbIrc X, Toledo Wabash and Western IN At
antic Mail IL, Cumberland u, Maripoea mining sS-pre
rerred 2I Erie preferred was Il lower Fort Wayne x,
Western Union Telegraph x. Chicago and Northwest
ern convertible bonds were X higher. North Carolina
axes lower Government securities neglec
ted. Coupon Eve twenes OF 1862 X iowor, sevon
thirty notes OF the FIRST series a. At the one O'Clock
sessions the market was very firm, with further im.
prcvcment In prices a portion OF the list,
Erie selling up tc s4.. Az the halfpast
two board there material change either prices
the speculative temper New YoTS Central closed :,
higher than at the FIRST board Erie a. Rock Island *
Pacific Mail = Quicksilver "a Cumberland x, Mariposa
L-preferrcd ". Michigan Southern Y lower,
Cleveland and Ptsbcrg ~ Northwestern preferred ~
roledo Wabash and Western " Ohio and Mississippi
-
solitary transaction in governments namely, i've
twentes Of 1856, at Ill
At the last open board tho market steady in tone
but with decline or 4s 49, upon sposton OF the list
New York Central closed at lI9y., Erie $3.50,
Reading ll6, Michigan Southern o., Cleveland and
7itisburg 92H Cleveland and Toledo 100, Rock
sslaud loeK, Northwestern 5Cys--preferTcd so, Ohio
snd Mississippi certificates 3sS Quicksilver 551s.
Subsequently the marke: became snSic nrrnor. The
speculative interest Htn beng mainly Erie,
Northwestern and Michigan Southern AZ half past FIVE
the following quotations enrrcnt:-0hio Misss-
sppi certificates 33H *, Cumberland 81 4, Quick
silver 55% u. Msrirosa preferred aIss ~ New York
central 1l9H 100. Erie s3Ts S. Michigan Southern
s2h sS, Cleveland and Piitsburg g91< y, Rock Island
l0stk 4, Northwestern 5Iss-proierrcd SO sok Fort
Wayne 1o9x ~ Compound interest notes were quoted
thus by the buyers lsGi, 1l6& l17 July, lleA
AZ; August, ll5K 1ie; October, 1l4E lis; Doccm-
her. I13sl ia; May, 1866 IlI7S ia August no..
"a September, ITO a October. l094 no..
Tho gold market rather heavy and without ANNA
bon. Tho opening price las followed by decline
Sf n and advance u lss's from which point there
svss a steady recession 20 IsT5s, succeeded by a
reaction To I4S After this i gradually druopcd
10 lat the closing quotation There wa = moderately
brisk borrowing demand and loans nadc LIZA
sic early in the day bui tho subsequently fell on
., I-32 while after the ciosc Of delivery hours two per
cent was paid for having com carrcu.
There largo business transacted ip foreign cx
cssuge although the supply OF bills in the marke, Is
very limited. Rates consequently, showed mn upward
teudepcy and this frmness operates OF necessity against
tho decline OF the gold premium. Bankers bills on
rugand Il sixty days quoted At tho close at 1921
siOe d three days, 1i0a1l0ss commercial los loo
ranca long date. 81 1sc o. 1sjsc: short sight, 81
zaTo &C. isKo Continental bills were ncminaliy as
nnder-ou Berlin 72& e, on Bremen 7sI 'pSi
an Frankfort HA ~, on Amsterdam toR anls on
hamburg seH ssx, on Antwerp ZOE IL. The latest
quotations Cor A~crcan securities and consois IN Lon