The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-09-09
FIN AsxClAL AND COMMERCIAL
suIDAr, Sept s, 1867.

suIDAr, Sept 8, 1857.
me railway share market show ed . moderate degree
Of activity and ermness Grins the pas: week, although
d slll remains without outside support. Brokers and
sher professional spectators are, however returning
and taking part 10 some extent IN The business
Of the Stock Ex bange. ana II 70 argued by tue bulls
shat With an increase in the volume OF speculation .
rse Is inevitable; for they, If the spectators sell
rocks 'shOrt" they will put the msrke, up on them-
selves by playing into the hands OF the bulls, while
they buy them, even leave them in the hands OF
lAeir present holders their tendency will bs up
ward under the greatly enlarged earnings OF the
n ways. as well az the prevailing monetary
ease How far their predictions will DO realized
remains TO be but their argument that the increased
rsspls OF the railways have tendency 20 advance the
stocks which represent thcm good aud 1t will
b unusual II brisk speculation for does not take
place. notwithstanding that the improvement! IN the
financial condition OF railway companies has bes to some
sxeat discounted The "short interest is, however,
Arge, and the bears spondinsy determined TO
resist the upward tendency OF the market Ho" Tar
they will succeed Is uncertain; for, provided the
bulls have the necessary capital, they caa turn the
s'short' account into element Of strength Latiery
che bulls have appeared 10 be dsncient IN force, ous
shey may derive assistance enough from returning
sosousiors to turn the tide in their favor temporarily
at least The bears forward to ibis Contingency,
and are "a disposed to 'hedgo sSsins, their 'short
contracts than 10 extend them. So Tar as monetary
AFFAIRS Concerned there hing to excite Apr hem
ssns OF disturbance the Stock Exchange at present.
Tie supply OF money superintendent NJ per cent
60 government securities and a ON mixed colla,cras
and demand for discounts . very limited SCALE
allho Igh FIRST class commercial paper rated at per
cent owing the pre- erenee Of the banks for employ
sUg then funds within immediate call The bank state.
neni for the week 10 likely TO DO very favora
Die 10 continued ease, the indications being that
will show increase Of about . million
and q half in legal tender notes, four millions
deposits two and half millions loans and half
E,on in specie The closing OF the Erie transfer books
preparatory to the annual election the sh Of DC ober
unsettled the stock market Saturday: bus at the
II halfpast Ave it was firm at the snh-
3oned qaotaiions:-NsS York Central, 1861. 1867:
Erie os4 sox; Reading, 1927 a 1928; Michigan
Southern, sex S2a; Rock Island, lO+il . lC41S;
Northwestern, - q 49,; do. preferred, 7o]i 7o5s
Pacific Nail 49, Ono and Mississippi certificates 271s
Q -; Western Union Telegraph, ~ 49,; Milwaukee
and 81 Paul preferred, 67h 6S
Among the miscellaneous shares those OF the express
companies the most active, while the fluctuations
unusually wide. Judge Barnards decision IN favor
Of tho Merchants Union resulted sudden rise in its
stock from l7Is Is to 22il 22, and ed 20 strong
bear movement in she stocks Of tie old companies,
which declined heavily, Adams having sold down 10
s0s. Before close OF the week however. there
recovery OF ABOUT two per cent from the lowest point
touched the market having been considerably oversod
The stock OF the Merchants Union maintained the ad
cash and regular transacaons; bar Saturday
as the regular board there saies 90 seller so,
while the cash price 22H, owins TO tho fear that
another call OF per will be made. Tue specu-
ivs interest these stocks Increasing owing to the
violent fluctuations wnich they have hiseriy ex-
perienced
There rather active market for government Sc
surtes especially in the early OF the week, and tho
sisng tenisncy Of god impaired drmness the geld
bearing Stocks The Treasury moi, however buyer
Of thirty notes The conversions OF August seven
th les into GveIwenty bonds Sub Treasury since