The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-11-22
FINANCIAL AND COMMERCIAL.

WBDSusDAy, Nov. H-62. NJ
me etook market IVES unsettled to-day, and Il ci@ed
heavy at decline In consequence OF apprehensons Of
scarcity Of money owing 70 the banks having advanced
sheir rate for call loans per An artificial
sotivy has been produced BY the bears locking In tho
aggregate large amount Of currency OF crcuIat
but this cannot b maintained while money remains
Sbesp and abundant In Boston and other cties
a. the sec, Of per will be to attract
capital 70 this centre from all quarters and before the
week the supply will probably DO OF the
demand six per cent But even today there were
no complaints Of scarcity At seven, and there were
numbor Of transactions at Ave and to first class
arms The whole support or the bears lies In arousing
apprehensons or monetary stringency, and hence all
shsir efforts are turned In this direction with what
prospect Of success have Just Indicated That the
leading bulls again cooperating with the bears TO
deprees prices seems probable because IL would DO i'm
possible for the bears OF opposition TO force
thsm down. The object Of the bulls may be 10
allow the bears sufficient rope to hang them-
selves but tho latter Wow the case In different
tight They say the large holders Of stocks are
ceiling out and that the decline natural settling down
70 legitimate level We differ With them by regarding
q % an ARTIFICIAL seteisg down speculative level tho
ouils having s moro control OF tho market than the
Ssax II Unnecessary to speculate as to whether bot
ten touched how fast the recovery may take
saaca stocks ara doubtless better purchase than sale
Rov those who u&ena TO hold Thorn for forty eight
hours, and rapid upward movement win in all proba.
bty follow this depression but whilo the present feel
ing Of uncertainty prevails few will run counter To IT,
and not until there II sudden and buoyant OF two
or three or tho speculative shares will the street awaken
70 consciousness that the "bulIi' element Is still
supreme.
At the open board ct ten o'ci,ck the market
stesdy. Erie sold at 7SK, New York Central 1iOk X,
Northwestern SIX. ditto preferred 1877. At the fret
regular board there was material change In either
prioez the speculative temper. New York Central
closed az higher than the yesterday North
western preferred x, Erie " lower, Reading v,
Michigan Southern " Cleveland and Toledo Y, Rock
Island u, Northwestern X, Toledo wabash and Western
1, Ohio and Niasisssipp Certificates " Quicksilver u.
Western Union Telegraph x. Pacific Mail COZ, OK dvi.
Aend the stock selling at 1872 1870. The latter 10
equivalent to an advance TO 2l2, dividends included.
0overnm emit securities dull but steady Tcnfores
advanced N Five-twenties OF the new issue Of
aS6s, "; North Carolina Sizes. new, advanced u
Al the one o'clock sessions the market was dull and
barely steady. Erie sold at rs Tx. Northwestern
SIX, ditto preferred SIX Al the half past two board
there was pressure SELL and the volume Of business
was larger than usual At declining prces New York
Central closed lower than at the FIRST regular board
Erie 1K, Reading l, Mch an Central l, Cleveland and
1OloQO 1>ss ROCK lNhUu NottuWestotu 7s-PtoVttou
X Fort Wayne I, Alton and Terre Haute 2k Ohio and
Mississippi certificates Y. Atlantic NAL az, Quicksilver
I, western-Un on Telegraph I. Government securities
Nere heavy Coupon nvcs OF 1881 showed decline Of
~ avetwenties Of 1895 " issue v, ten-fort es Y.
0evsnhlrty Of the nrst reres ". third series r.
subsequently, In the lower hall Of the Stock Exchange.
end At tho open board hapast three the market
Nnued heavy Al the latter Eric sold At 7eK Tx,
Reading 49, Cleveisnd and Pittsburg s5H, New York
Central l0sk 1851, Fort Wayne lo4X a los Cleveland
And Toledo III 1924 Rock Island 1884 loA, North.
western 60x 8i-prcferred TAX 72x; Cumberland
~ Atlantic Mall d. 81 lOs. Western Union telegraph
eeK. There further depression afterwards and a.
nix o'clock the following quotations current Erie
y6K 75k. New York Central lo7H lo1k, Reading
lI1X ia Michigan Southern 81 aslx, Illinois l11K
1Is, Rock Island 1os lo3x, Northwestern so soy
preferred Tx a. Fort Wayne io3A 1884, Ohio ana
hssissipp certificates TAX 20. Compound interest
notes quoted thus:--Junc. 1884. 1l5A ilSk;
July. 1iAk ll6K; August, llAx li4K.
Tho decline which has taken place In railroad shares
during the las, fortnight shown by the following
garrison Of the closing prices at the nrst regular board
ahn uuharun sutonad dataa