The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-10-30
FINANCIAL AND C,oMMERclAL
TUESDAY, Oct. 2e--oP. NJ


theopenng and the closing transactions at l42 and the
range from 14lgs 1924. The disbursements or
sEe Sub Treasury Ia anticipation Of the interest duo
the LIST or tho coming month the lye-tweaties OF
1852 1864 and 1855 increased tho floating supply and
caused loans 10 DO made without interest and al
la per cent per annum for carrying. The bears
have, consequently, no diicalty In borrowing make
their ciearngs; but those who expected the Price
decline materially in consequence OF interest pay
ments have thus far been disappointed 0wingto
hereafter referred TO- however, only about quarter OF
ahe amount TO be dissursed a. this drawn
yesterday. The advance In ths OF foreign ex.
change since the begrning OF the week 10 due mainly
20 the increased supply Of cash gold importers and
Others having previously deferred their purchases IN
view Of the high borrowing rates paid for corr
The rates Of exchange had at TIE same time
been artciay depressed BY Of tse leading draw
for OF buying bills at the decline and thus
. sharp reaction was, foresbedowed, rendered
inevitable. TINS recovery has direct tendency to
strengthen the gold market although the still
below the specie shipping point The gross clearings
amounted to so the gold balances 70 81
and tho currency balances 10 81 2s7 us.
There Is ne new feature to chronicle In tho stock
market and both balls and bears alike waiting for
something TO up Notwithstanding more ample
monetary facilities than generally looked forward
TO- the bull ciques to hesitate about adding to
caIy stocks hold up tho entire market. and
Of these are dividend paying railway shares un-
certain value-namely, Erie and Northwestern
the third being New York Central q six per cent
stock which Is selling for Il3 while United States Ave.
twon!es which yield six per cent In gold quoted at
I07 Neither Eric nor North western Is worth at The
present time anything like the price which has
been elevated By clique manipulation, and neither
vesiers nor prudent spectators would buy the
the other; but the ciques saddled with them
the principle Of lin for q penny in for
pound" they may endeavor 70 carry them
higher, b1t close in either is Impossible. The
fact that such stocks should be firmly
upheld while the sound ten per cent stocks droop
ing goes 10 the artificial character or tho market
and the denorazing effects OF clique The
Stock Exchange is entirely deserted by outside
public that matters very little whether prices 60 up
down, and gambling 10 stocks much like gam
bling thing that either bulls or
bears IS uncertain throw Of dice; but the
tary conditions affecting the market present in
favor Of the bulls.
There very little business transacted In govern
securities at the counters OF the leading dealers
during the morning. and prices fraction lower in
instances than at the close yesterday but after
noon the market became firm and there a good de-
mand for the various issues Of fvetwentes espe
caly the old sixty avss, which sold at 1929 The
eonce OF European checked some degree
the upward tendency OF prices and the wide differences
between the views Of buyers and sellers contributed
dulness but nevertheless the market closed strong and
should thore DO OF seriously disturbing char
acer from Europe prices fail improve rapidly
under the present in The demand for
vestment OF tho November interest has yet set in
owing to bonds without tho mmaursd coupons attached
NOT being recognized by the Stock Exchange except
with gold checks, for the oxact OF the missing
coupons attached large portion Of the in
serest duo the LIST proximo on nve.twcn.
ties held abroad will be renvestcd in these
bonds but the foreign bankers in nearly every in
stance will defer their purchases they are quoted
sx the November coupon, they viii be re-
CURED for shipment prior to that time. The closing
quotations were subjoined: -Registered, 1881,
111x nix; coupon, 1851 lllA 1ll7s; 52o's regis.
ssred, 1852 lo4 l04L; 5-2os, coupon, 1862 1921
1l2x; 52os, coupon, 1884, lo0L 1927 s2o's coupon
1885, 1905 1925 do. do, January and July, lot
a1o7H; Sos, coupon, 1861, l07 1o7l<; IO-4o's,
registered, 1905 1oox lo-4os. coupon, looss 1ooh;
June 7-3o's, los 1861; July 1905, los q lO5H;
December compounds, 1894. lls]: Nay do, 1885,
l1755 ll7A; August do do, 1l6Z 1853; Sepem.
bsr do o., llS ll6; October do. do, 1l51 1854.
Money was In abundant supply At per cent TO stock
houses In good credit approved collaeras and loans
81 we're therefore exceptional This greater
than expected at ths time by the banks and they
are consequently beginning to discount prime
tile paper for their customers with little freedom
s per cont but outside paper even Of the best grade
h ous Of favor, and It has to submit to high
"a II per cent among the note brokers'
The railway share market steady at the COM
mencemsnt OF business and ct the early Of the
open board New York Central sold at l13S ll3x;
Erie. TAX . 72's; Reading, sek; Michigan Southern
rs; Cleveland and Pttsburs, SIS; Rock Island, 954;
Northwestern, Az; do. preferred, 65A Fora Wayne,
81; Western Union Telegraph, 83k.
At the nrst regular board tho market extremely
duh and barely steady. New York Central closed y
lower than at the time yesterday. Erie y, Reading
X, Cleveland and Toledo \, Rock Island Il. North
western preferred x, Fort Wayne x, Pacific Mail u.
Atlantic Mail u, Western Union Telegraph y. Hud-
son River was z higher, Northwestern u. Govern
ment securities dull. Coupon nve-twentcs OF
1862 closed lower, issue OF 1865 y, Of 1867
y. Sizes Of 1881 we're y higher. Tennessee sizes,
new, advanced ~ The Express shares steady.
Al the open board ., one o'clock prices improved
sghtly, and there increased activity in Erie and
New York Central New York Central sold At 1lsK
1lsz; Erie, TAX 72zs; READING, 0sX; Michigan
Southern. 7ss<; Cleveland and P,tsburg, SIX North
western. 4sk . 4Sk: do preferred, 90.
At tho second regular board prices lower than
s O'Clock, but steady. New York Central closed 4
higher than at the FIRST regular board Erie "a Reading
X, Michigan southern 4. Cleveland and Pitisburg 4,
Northwestern y, Fort wayns y. Ohio and Mississippi
certificates * Government securities were nrmer In
tons. but thetrsnsacons unimporiant in amount
Adams Express declined to c5k, and there signs
that tho inside parties. are selling out United
Slater declined per cont Considering the
extent TO which the stocks OF the old companies have
been "watsrsd" they not selling very low. and tho
original holders stin realize handsome profit by
selling AZ the present quotations The total old capital
stock OF the Adams United staes aud American CON-
sbined was 50, zoe. ooo, and u 10 now s25ooo,c,o.
Al the last open board there fractional improve.
.snsut, but the vcame OF business very hight New
York Central sold at Ii3< Ere. T2& 10. 81; Reading
sejK; Michigan Southern, 70x TO-; Cleveland and
sburg, ak; Norihw western. asa do preferred osS
For. Wayne OF; Pacific Mali, 1s7; Western Union rce-