The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-11-08
FINANCE AND COMMERCE
OFFICE OF THE EVENING TsLpeRAPH.
Thursday, November 8. 1866.

The stock Market was rather more active ths
morning, put prices were without any material
change. Government bonds we're nrmlv held.
S-zOs sold at 1l04@ll03; l0O8 was bid for lO-lO
ll45 for IS of 1881; and 1075 for August 7.90s:
City loans were in fair demand, the new issue
sQln % az IOztC9lOzs, slight decline; and old do.
Railroad shares were the most active on the
list. Reading sold largely at from b7s 615s), no
change; Camden ana Amboy at 1870, no change;
Catawissa preferred az 28$, no change; Psnnsvl
vanla Railroad at 55s 056. no changes M,nehiu
at $50; and Lehigh Valley at sc 4, no change.
City Passenger Railroad shares were duh
Thirteenth and Fifteenth sold at 20h no change
80 was bid for Second and Third; 81 for Spruce
and Pine; and 15t Tor Hestonville. -
Bank shares we in demand. Farmers and
Mechanics sold ~ 1870; 234 was bid for North
America; 44 for Philadelphia; and 60 for Com
mercial.
In Canal shares there was nothing doing:
~ was bid for Schuylkill Navigation common:
1863 for preferred do; 504 for Lehigh Navigation;
and 15 for Susquehanna Canal.
Quotations of Gold-105 A. NJ, 1463; IL A. Nj.
l468; IL M, l46a; P. NJ, l404.
The New York Tribune this morning says;-
Money Is in more demand, and there ID nothing
to be had under per cent. TIE banks, which
nave beer extending themselves for long time,
nave recently adopted more conservative
policy, and not q moment too soon. Since Sep
TEMPER they have lost 10 per cent. OF their
legal-tenders; the amount stands S74 900, 600
Noven Der 3, against S92, ,622 900 September l.
The circulation and loans are increased and
they are in anything but u comfortable condi-
mon, so tar as ease to borrowers is concerned.
The fact Is, prices of commodities have out
grown the supply of currency and the disposi-
ton and ability of banks to make advances
The next stepis liquidation, that most obnoxious
proceeding to senterprislng merchants who
over-trade upon borrowed money, and specu-
lators who are ready to buy anything on the
MARKET so that it can be brought within the
range of their capital, for margin, for turn
As there is no good reason, or any necessity for
Congress coming TO the relief Of Spectators by
creating more bank capital, borrowers viii do
well TO take in sail and get themselves snug be-
fore values are still further reduced by con
traction of currency and q reduction OF bank
facilities takes place Commercial paper ls
harder to sell, and buyers are able to make
better terms"
The Cincinnati Gazette OF Monday says:-
'An increased demand for money was expe-
rlenced by most of the banks to-day, and the
discount market is working closer. There is
still q considerable amount of outside paper
Offering, but the banks are, in most cases, con-
nerst are r@ at solo for 81
paper, and IL fB cent. for good commercial bills
Exchange is heavy, the supply being conside-
rably in excess of the demand, and rates are
irregular. The bankers are still, In mos. cases,
allowing depositors par, but some decline to
receive 1t at better than Soc. 10 $1,000 of, and
Others, at the close, refused to pay more than
l,l0 discount. The sales were chiefly at 60c. %
! $1,000 premium, but checks for round sums were,
! in several instances, down at par.n
The CHICAGO Tribune OF Monday says:-
"The Money Market, though in the aggregate
quite active, is gradually working easier, and
currency shows signs of accumulation. There
is comparatively little mercantile paper offer
ing. and few renewals are be ng asked for. The
demand on pork account s LIGHT, as very few OF
the packers have commenced eating. On grain
account the demand is large; hut the discount
houses are considerate, and closely scrutiuize
all such Offering, as they have no desire to
encourage speculation at the present inflated
values. Prime paper is readily taken at the
current bank rate, 10 per cent. Outside sigma
lures are negotiated in the open market at 12G0
l6 per cent pkr annum, according to the nature
OF the securities offered and the standing Of the
applicants. Call loans on Government are nomi-
nal at per cent. Mortgage loans range from
61l0 per cent?
PHlLADELPHLA STOCK EXCHANGE SLLRa Eil.rliN