The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-10-17
FINANCIAL AND CONNER CiAL.

TuEDAs Got Ie-of NJ
THIS day Of great excitement IN Wall street
Tho transactions In railway shares early the morning
at fractional advance upon the prices current at
Sho close OF business last evening" at the INST session
Of the open board was pressure 10 SELL under
which prices declined throughout HE list Erie
sold at san, Reading ll5% -, Michigan
Southern seH, Northwestern 44-preferred TAX,
Fort Wayne l09x New York Central llo1s III.
At the regular board there was further development Of
me sbear raid assist which the false rumors Of yes
tsrday we're conGdentialy circulated IL is now well
known that persons deliberately fabricated stories
nkely to affect tho stock market unav orably for the
simple reason that they their customers both,
heavily 'shor and as the course of prices strongly
against them they wished to turn II the opposite
direction II is needless 70 say however. that the pro
mitigation OF false reports legitimate speculation
and that those to such base method OF
trieving their osses likely reap harm than
good from H. Some Of these persons succeeded in In
spring distrust in the minds Of others, and
We are not certain that influential bank off,
did NOT assist them giving support
the false reports which put aoat from interested
motives II is known that simultaneously with the ut
Of these fabrcatons the parties to them tried to
borrow all the money they could even al hvc per cent
whh the view Of locking it up and 10 producing
N impression that money tightening. Money
en- the contrary, is easy, 1t per cent "eh
Me supply OF the demand and II is iiKey 10
somain for months to One important TACT TO-
mains tho result OF this 'bear raid-naneiy tnA'
has been Sufficient failure to infiet more loss than
profit upon the raiders At this board Now YORK Central
closed az lower than at the same time yesterday Ere
lx-preferred q, Hudson u, Reading 2, Michigan Con-
mal tx, Michigan Southern 2ss, cleveland ana
Prtsburg az, Cleveland and Toledo az Rock
Inland TX, Northwestern Iz-preferred ~, Fort
wsype IL, Toledo, Wabash and Western 81 Alton
and rerre Haute l-preferred ~, Ohio and Mississippi
certificates r. Atlantic and Pacific Az Canton 31 Cum
serand Y. Msriposa preferred X, Western Union TeIe
usph I. Government securities steady, except
coupon 1ve-twen,ies Of 1852, which declined y.
Al the one O'Clock board the market had frmer tone
~ was still hammered by the bears and unsettled by
sales 10 realize New York Central sold at H. Erie
s2h, Hudson l2oh (s. 81, Reading ll52s. Michigan
Southern sek Illinois Central 1871 Cleveland and Pitts
burg DIX, Rock Island 10sk, Northwestern t4X-pre-
ssrred lax, Fort Wayne 1lo4, Cleveland and Toledo
ils% H. 81, Ohio and Mississippi certificates a3t d. 81,
Quioksilver SAX, Mariposa 1Sh-prefeTed 2Sas.
Al tho past board there marked change
N tho temper of the market Those who had before
ysnt an ear mysterious whisperings made for effect
Degan to see that their utterance was concocted
mars and the bears who attempted to "cover'
Ehsir shorts" found that they could not
- SO without materially advancing prices.
Now York Central closed ~ higher than At the first
board, Erie *, Michigan Southern IS Illinois Central
M Cleveland and Pittsburg y, Cleveland and Toledo
N, Rock Island ~, Northwestern E-preferrod J. Fort
Wayne 4 Toledo, Wabash and Western 2; Alton and
Fsrre Haute Y, Quicksilver rs, Western Union Tele-
graph 4. Cumberland y lower Afterwards the
narket became buoyant, and under the demand from
buyers for rise and buyers to shor" contracts
PRICES experienced considerable further advance.
The greatest improvement Northwestern COM
mon, which sold up TO 46a the movement being very
eady one based upon tho largely increased earnings OF
Tho road.
A. the three O'Clock open board New York Central
sold ~ 1lsE, Erie s3x, Quicksilver N's, Hudson l2s,
Reading 116h Michigan Central 116, Michigan South
en- 005s Cleveland and Pittsburg 92H, Rock Island
1884, Cleveland and Toledo 121,S, Northwestern l5f
preferred 1854 Fort Wayne liOx, Ohio and Mississippi
certificates 33A d. 81 Cumberland 6sk, Western Union
Telegraph SAX, Marposa preferred 29ss The whole
market closed strong and at halfpss five the suboined
quotations current -Ney York Central l1s l1a,
Esie s3h y, Hudson 1851 X, Reading lloh, Michi
gan Southern 9oH y, Illinois Genital 12sk u, Ccve
land and Pittsburg 90 u, Rock Island 1o9k ~,
Northwestern 46x l-preferred 76x e. Fort
Wayne 1l0H Ill, Ohio and Mississippi certificates
81. ~ Canton IS, Cumberland 5Sl, Quicksilver J<1s
So, hariposa 49,. x-preferred 2ska'.. large
ffesh short" interest has been created which cannot
but assist The upward tendency of prices and the present
and following week will probably glider spccu.
sion than have yet seen, although the Of the
narket yesterday and to-day has shown how much
posed feverish fluctuations The Of rail.
way shares since the commencement Of the year lie ndi
INV he of