The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-10-05
FINANCIAL AND COMMERCIAL.


THURSDAY, Dot 4-oP r.
IN. stock market opened this morning under the nhu
sncs Of great excitement aud Eric sin continued tho
centre Of traction, advancing under strong demand
y ss 1t subsequently, however, reacted TO SsK,
buI recovered To "a The movement IN the
aock lie very strongly supported, and has evi
DENLY not yet reached ITS eairn mating point
Opinions differ as TO whom 10 viii be key 10 do So but
she aary are inclined 10 believe that the successful
party a. tho election viii make point OF honor
% sbuli the stock, and that, therefore, its probable
sourso FOR s,lne little time 10 will be active
one The tendency OF speculative securities Of all
Kinds governments excepted, is, However strongly
spwari aDd the speculative spirit rs spreading
40 an extent which threatens TO place prices alb
smrdly high The lers buy daily t,lesraphed from
country IA aggregate larger than they have
beeD any time since the spring OF 1864 and the higher
prices the greater appears 70 be tn rush TO buy The
demand for raj way shares is the whole well disIb
uted but just now, after the sensation Of the day
Er.e-For Wayne most in favor, while tho Western
stocks generally are il active regu among the Western
operators.
The condition Of the money market is highly favor
able 10 this imitation and tho prevailing promises
70 be oi indefinite Tho is far
advanced for any ial further drain OF currency
westward TO move the cSpps, as the return flow has
already commenced, While the Southern demand 70
the cotton crop Will DO extremely light
anu partly gold, for the South well sup
Piled with currency, aud til years cotton product,
estIned by impartial authorities, viii BIO under
million bales. The demand for money is proportional
70 tie activity Of business, bnt stf inadequate
absorb the large amount Of FUNDS a. the dis
posal Of the banks and private lenders. Stock
houses are IN the accommodated at four
per at call, but fve per cent is paid where
the money l. key be left uncaled for considerable
sma Exc optional transactions three s,, reported
but these are, 10 nearly every case, upon government
sollaterals ibovoume Of commercial paper OF the best
grades offering triang, but 10 in rcques, at per
sent
Al the open board, at ten O'Clock, the market
buosaut and excited tho demand for Erie being parcu
arly strong The transactions aggregated V,7OO shares
81 s33a a e4h. Fort Wayne sold at los; Mch
Exr southern so94 Northwestern Al a 4e%--prc-
fcred 7sa u, Ohio ard Mississippi certificates
NN &. Al the regular board the demand for all
the leading railway shares very brisk, and the in
10 Erie well sustained. The sales aggregated
$500 shares and tue price ranged from 90 10 941t
closing so higher than at the same timc yesterday
New FORK Central closed higher Reading 49, Nichi-
gan Central Il, Michigan Southern " Illinois Central
~. cleveland and Pittsburg q, Rock Island y, North
western 3h-preferred 2 Fort Wayne 4, Alton and
Zerro Haute 4, Ohio and Mississippi certificates ~,
4,
Western Union Telegraph IA. Hudson p lower,
Toiecp, Wabash aud Western x, Pacific Nail =, Atlantic
Mail ga, Canton y. state stocks Armer. Ten
SKIES y higher, Virginia skies u.
North Carolina bonds u lower. Bank
stocks in demand, and by reference TO The list
vii he that Continental Bank shares sold at l05,
Commerce 100 Fourth National 1919. Government
ca,is neg ected, but steady in tone Coupon i've
swenhes of 1862 and 1865 showed decline OF 4.
AZ the one o'clock sessions the market reacted
sishtly and Erie declined to oIzs, after opAng at 93
<sales O. 100 chaes Subsequently il rather irresu
ky and excited, and at the halt-past two
Board Eric tsaes 600 shares) closed az lower Than At
Abc rst regular board Now York Central ~, Reading
r. Michigan Central 4, Michigan Southern VI. Illinois
Central "a Cleveland and Pttsburg Il, Northwestern
1-prefened g, Fort Wayne, ~ Toledo sud Wabash
y, Canton a. Cumberland u, Western Union Telegraph
y. OHIO and Mississippi certificates were Il higher,
Quicksilver /, Marlposa preferred ~ Atlantic Mail l.
Government securities arm. Coupon hvetweutics
Of 1852 showed advance of "a aud issues Of 1855 y,
Al the three O'Clock open board the market quiet
and steady The din renee between cash and regular
prize Of Erie up to quarter-past two, per cent
Eric tsaes $500 sold at 9oh-prci' red 81 Reading
1l7h, nichigsn Central ia, Michigan southern 20, ill.
soIs Central 1861 Cleveland Pt,sburg SAL, Chicago
and Great Eastern SEA, Cleveland aud Toledo l221,
Rock Island i01h, Northwestern 44A-prcferred s4h,
Fort Wayne losA, Ohio and Mississippi certificates
M*, Quicksilver 55A, Maripcea 1917. After
wards there WAS improved demand for all the
railway shares, Erie selling up TO o2A at
time and tile market closed strong, the quotations
pix O'Clock beng under:-Erie 9oI 9l-preferred
%, Hudson 1891, Reading III - Michigan southern
So5s 4, Cleveland and Pit,sburg s0h Cleveland and
1oedo i22S 4, Rock Island, 1915 u, Northwestern
a. h-preierred IA, Fort Wayne 1885, =, New
York Central III; u.s. Ohio and Mississippi ceriin
oates "a i, Quicksilver 55z =, Marposa l3k-prc.
Ssrrcd 500 u, Western Union Telegraph 5Sss i.
Compound interest notes quoted thus:June, 1894
NOV x; July, 10 4; August, 1855 =; October
n4laA; December, ll3is X May, 1865, Ills. ~
August; li0h y, September, lOsL no.; October
100 q.
tins igncture tho following statement Of the highest
and lowest lrices Of leading stocks in lsol and those
th mornings regular board will be found In
tsrestins