The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-11-27
FINANCIAL AND COMMERCIAL.
MospAY. Nov. 2S--6 r. N.

The Stock market has exhibited considerable anime
ton and buoyancy to-day and evident that the bull
element has resumed It's sway, many Of those who con-
trbuted the recent furry being now numbered among
she strong army Of operators for RISE Even those
who were most tmid while the squai lasted, because
they we're fearful or further tumble arc treasured and
took forward confidently much higher prices before the
wear closes Instead Of being the flock OF sheep TO which
we likcued them a tho Time they brave a.
mack or lions In Jungle and stand up like pillars TO
sustain the Market and their fortunes improve their
courage becomes stronger. There has been very
marked restoration of in the money Market and
although the general rate per cent during the
morning large amounts offered before the close Of
oussss q Ave per cent ana second class houses
enabled to borrow freely al six. This Immediately
aooeeding the publication OF apparently unfavora-
bic bank statement, is very favorable sign, as II ndi
Gates not only absence Of dstrust among bank
ags but general belief that the supply Of currency
win b. more than equal the probable demand in the inn
mediate future owing TO the return flow Of currency
from the West and other sections OF tho interior This
1nnux viii continue for the next three four months
and, therefore, there Ii an open for the bulls
sail in during the interval Tho coast being clear, the
bears the bulls who hesitate lost and ordinary
rasacity win tell man that after tho severe fall which
mas taken place nothing but rise can, under present
circumstances, succeed. We ray this Notwithstanding
pthe MARKET down. NA
The statement Of the associated banks referred
TO for the week ending Saturday last 10
pretty much az II was estimated on satur-
day although the estimate was slightly exaggerated
The deposits show decrease OF $S47T5l6. the legal
endsr notes OF &c. l07 the loans OF S54l9s5 aud
the specie OF $685. $50 The only item in which there
shown Is the circulaton-naineg, Sl2s oI6
The decrease in deposits owing, to great extent,
H.
curreuce OF bank officers also The bear side Of the
stock market. The decrease in legal tenders the
natural result OF the dlafs OF the Treasury upon
the country national banks which reacted upon the city
banks This sudden drain upon these institutions by
the government is regarded Ia VOL Informed quarters
suspicious circumstance but II viii never transpre
whether not the Treasury actuatcd by corrupt
motives IN dcrangng the money market at his centre,
time when it is universally understood that there Is
drain westward and northward for moving the crope
The Secretary OF the Treasury lays himself open %
suspicion al all events, by choosing this particular
month Toe drawing upon the country banks, knowing
char would be felt than at any other time and Il
wall street feels certain Inns been hand and glove
with Tho BEARS he cannot blame the public for wholly or
partially crcdng the In this connection, con
sequenty. 1--WE shall advise Congress, when assemblies
20 define duties OF the Secretary Of tne Treasury
in every particular, so that Limits 10 corrup-
aion rnay DO imposed. Secret gold sales
must he stopped, and drawing upon the country banks
must be conducted periodically NJ regular intervals
that an cxndiana bank manager may fall into danger
Of hay;ag his motives mistaken and the government
crsd. Impaired We believe him 70 be charlatan in
finance aud nothing he should be in his prac
,icA examples, bat financial mountebank must
expect little or No consideration from sound
thinkers. The mere fact OF his having venturod
70 sgsin cs gold secretly Is against him uS now, and
by some accepted kind OF evidence that he has
been IN league with the spectators for fa in both
gold and stocks Butt would be ilberal Us 10 assign
any such motives for his conduct
the early OF the open board the market
Arm. Erie sold ct 71ys a u, Michigan Southern STA
Il. Northwestern IL q. Al the first regu-
lar board The market steady Nov York Central
.ciossd lower than at tho same cine 90 satur-
day, Ere =, Hudson III, Northwestern e, Quick
SILVER az. Reading was TX higher, Michigan
soaihern ~ Illinois Central u. Cleveland and pittsburg
u. Cleveland and Toledo A., Rock Island Ia, North.
western preferred IN, Fort Wayne l71, Ohio and
Mississippi certificates ~, Pacific Mail ~, Western
Union Telegraph * Government securities were gen
crafty stesdy. Coupon skies or 1851 were 4
lower, nye-twcntics Of 1852 u. Al the
O'Clock sessions the market nrm, and at The
half-pss two board there further Improvements.
New York Genital closed & lower than a. the rsi rcga.
Ear board, Eric TX, Hudson ], Reading ~ Michigan
eou,hern Ia, Illinois Central ~ Cleveland and Pts
burg Cleveland and Toledo u, Rock Island ~ North
western 4, do. preferred IL, Fort Wayne Il, Toledo,
Wabash and Western u, Quicksilver =, Canton l. Gov
ernmen, hrmer. Coupon skies or 1897 were Il
securities higher OF 1895 ~ thirty notos
OF the second and third series y Subsequently
She market continued 10 show great recuperriive
power hafpast five II closed firm at the following
quotations: New York Central Ill Il Erie 13s
Michigan southern So. So, Reading 11iia ~ North
western 4s% ~ do. preferred s2ys 20, Fort Wayne
1osx y. Ohio and Mississippi certificates coz 81.
The Improvement which has taken place In the railway
share make, Friday morning Is thus shown, by
statement the prices the first board then and the