The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-10-23

. Aacre.sa tn, increase IN the specie is due the
redemption Of parcels the skies Of 1867 and 1858 by
the Treasury In com, circumstance which last week
give color TO false report that tho Treasury SELL
nents undor:-
Loans. $27e 443 2ls s27e, 1886, 700
:ssss;.os s ss!ssss sesls - -
Deposits z6 sSs sSa 22S os3, sSS
Legal tendcra. oos lSO, AZ Jo,oIos4So
wefe:-
Week ending October Is. .$770 $50 908 1883
Week ending October 2o... s24, 72l,93S 27,l04,sll
The practical ease Of the money market was demon
sraed by the offerings Of loans at four per cent which
vere made freely during the afternoon. This was the
general rate but there number Of exceptions at
ave although few of the leading dealers in govern
mont securities able to borrow at az. As
Che 18th instant the remaining nfty per cent Of the
Ceasng House certificates mature there probable
~ that further bank expansion will follow. The banks
WIN hesitate extend their loans in order to make
up for the loss Of interest the twenty i've millions Of
certificates held in this city, and this they have every
fActy for doing. their Of legal tender notes
being about twenty millions In Of that re-
SrKed BY law. With this present abundance Of money
n 70 understood that few Of the banks will cash
sAsir certificates but continue 10 Thorn legal
demand for money sufficiently active TO furnish in
aucsment the currency win be Withdrawn. Meanwhile
Che criterion OF the easy condition Of monetary
aAs here be found in the existing indifference Of
&c banks with regard to these deposs II is almost
noodles 10 remark that compound interest notes form
% part the currency and that therefore the
conversion OF these into bonds have practical effect
upon the money market
1e abundant facilities thus afforded 70 speculation for
rssc the Stock Exchange together with the large
earnings Of the leading railways, highly calculated
% stimulate the upward movement CT railway shares
point which would appear rash 10 denote Tho higher
~ market rises the quicker It to rise ana tho
0ore buoyant the speculative feeling becomes Even
che speculative Of the spring OF 1894 bids fair
- ecpsed in 1885, aud with real values in their favor Il
= hard to say how high prices may be carried before the
year The outside public Is largely enlisted in
s1eck operations the orders from the Western
zion OF the country known 10 DO unusually heavy,
while the number of buyers Is increasing daily.
A. the ten O'Clock open board Northwestern Wa
astive Al 53k H-preforred at 75x Michigan South
sn a, co. and Rsie at s2A. At the FIRST regular board
The exhbiteda waverng tono, and prices with
she exception ef the Northwestern shares frIc
don lower New York Central closed x higher thar at
she tmo Saturday, Reading Y, Rock Island Il,
Northwestern IL Fort Wayne u, Toledo, Wabash nad
Western X, Quicksilver y, Erie y, Michigan Southern
Z, Illinois Central u, Cleveland aud P1ttsburg y,
Cleveland and Toledo 1. Northwestern preferred y,
Alton and Terre Haute u, OHIO and Mississippi csrta-
Gates u. Narposa preferred u, Western Union Teie-
graph y Government securities were moderately &C.
tve but rather heavy. Coupon fve-twenties Of 1862
and 1895 showed decline Of X, seven-thrty nsss Of
she arst series Il, second series u. Tennessee sxes
were u higher Missouri sxes y. Al the call and 1t
Che O'Clock sessonof tho regular and open boards
Ne market was strong and prices were higher,
especially for Northwestern, tho common stock ris.
eng TO 6<k, and the preferred to 7sK. Al the
Aaf past board very buoyant speculative feeling
Drsvaised and Northwestern TO 66k and the pro
srsd stock 70 1ex. Erie closed higher thaa ri the
erst board, Reading x, Michigan Southern N, csve
sAnd and Pussurs X, Rock Island y, Northwestern
lk-Srsfsrrsd ~. Fort wayne X. Ohio and Mississippi
ssruSc~sss u, Quicksilver X. NsriposA preferred y.
New York Central Y iowcr. Cumberland n, Western
Onion Telegraph TX. Governments were Inactive, hut
sssady
A. the three O'Clock open board tie market was cuu
Afterwards the advance well sustained asd streos
AsmanA for Michigan Southern carried the prlco up "a
nv rhsss Wa at the same time moderate Co.
xsis In anticipate, Of . fresh movement Tho .'shorr
hssesst In the stock being largo rhs chief sterest
shs nskst however, oosSnsd the NORTH western
sharsa, the future OF which 10 looked
forward 70 - Q disastrous one for the bears.
ne mskst finally closed nrm, and the quota
Mons = half-pas; i've subjosued -
$500. a.s ~ .e oos, ns1o'ns
49, ~ - 80. - :" .e,sAoa anu
~. ..'.1 49, .ss' No''nse est
:, 49,. - foa. wayne io,s
-, o.~ s1..Sls ~ 49, - oumoe' ,
- ~ F,-.t =, ~ pe'o'' ~
"a -. go, 80, ~,
- 80 - 49,. TO-. 80. 60. - :
ss.s< -. 49, ,s.s 49,.