The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-11-25

Tho stock market was unsettled aud rather bearsh
temper owing mainly artificial monetary strngency
produced by the operators for fall in railway shares
among which were the members Of tho Erie "pool,"
who had been large sellers the latter part Of the pre-
vous week On Saturday afternoon, however, there
was decided change for the better, Notwithstanding
that the bank statement construed somewhat
favorably the street. and Erie advanced to 7 under
large purchases BY the Eric clique The general impress
sion now is that the market has turned and that its
course will be upward work next week. but go much
depends upon the manipulation or the ciiqucs that
binary calculations based upon facts and natural
causes Of little value in estimating its immediate
future. The cliques themselves show consistency
Of action being alternately bull and bear for the sake Of
loading and unloading tho expense Of the street, and
by selecting Northwestern common and Erie for manip
uation at advancing figures and negiecting the div
dend paying stocks except Now York Central and Hud
son River they give tho market artificial APP
psarance The bulls have strong argument in their
favor in the enlarged earnings Of the railways
~ compared with those Of last year. and the
growing conviction in the public mind that
Midway property ID improving IN value and likely TO
rank high in the scale Of profitable Investments under
honest and proper management The gloomy feeling
which prevails in all departments Of trade and the
psnse with which the action Of Congress in reference
the currency awaited are, however against them; but
with the suspension Of contraction, decided improve
would al once be experienced all the country,
and the Of relief would be nowhere ksenly
Felt than In Wall street. The beavy fall Pacific Mall
sales having been made As los 11sK dividend, on
saturdsy-equal 70 l2lh with the dividend on had
tendency In conjunction With the scarcity Of money to
demoraixe the whole MARKET and under the cream
Stances II Is rather sar sug that tie decline the
srai share list wa grvAsr Northwestern common adj
vancsd In the fce Or the active demand for money and
there were iss trnnctions in the stock above ST. An
attempt was 81 one time made to move the preferred
stock upwafc, but after advancing TO 6S,s Il suddenly
rsapsed That there should be difference OF only about
eight per~eyt between the two stocks 10 striking and
aDomAisrs feature Of the market At the coss At SIX
O'Clock vast evening, somewhat buoyant speculative
feeling Prevailed and the following quotations
rent ule advance in Ere from cox, the point to which
~ declined after tho nrst regular board being equal
lk,per cent-Nsw York Central l1s< lls,s; Erie. II
.ssIh; Hudson River 124,s; Reading. o65s 90; Mch
GIN Southern. 7o1 7s<; Cleveland and Pitsours, 50
1sx; Rock Island, e5 . o5,<; Fort Wayne sok 81 (:
Northwestern 56ys 81; do preferred, 64K 50; Pacific
1ai 40 III; Ohio and Mississippi certificates 25x
ssk; Western Union Telegraph, a2's s2h.
Money was easy at per cent with transactions
o. SIX In some instances on Government securities until
shortly before two o'clock Tuesday. whom II BE-
suddenly active than at any time since the
monetary panic early IN Ostooer, ana many OF the Hock
Brokers had considerable difficulty In making up their
bank accounts Tho urngsncy continued until Friday,
although The most severe pressure felt wednss
day, when became easier; the supply At seven per
cent being about equal 10 the demand and yesterday
there was st decided change for the better the
market having apparently resumed IL sorma condition.
although the rate remained II Per cent without
exception favor Of government securities Previous
ssvsn per cent In gold had been paid 70 such ., -,
private bankers chose 70 exact II sad seven -.
in currency sad commission were freely Sossrss -
1ssss without the necessary funds being fseur.s n,
sssus was that brokers adapted thsm~ vs. y - =
ihsy could, to the altered aspect Of ~ am b. s,sr :.
some az their stocks for cash. tn incouvsu,snce =
sslsiag from this dsnssmsns Of he msssy market ),
ARTIFICIAL means rsscsd 70 By y sculassrs 70 dsprsss m
NOOK market wM not coso'aed v wall street. b.
vss felt ~ the msy4asis ceumusiv in IN,
ls~sa8a aAespy Of os'sisiss eIscesss