The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-11-15
FINANCIAL AND COMMERCIAL.
THURSDAY. Nov. ll--sP.


prospect Of Important reforms In the management Of
some Of the leading railways Erie and New York Cen.
l among them together with the indications that Con.
gress will adopt policy OF currency non contraction
Of positive imitation, tend 10 stimulate the demand
for railway shares and the upward movements which
had IL inception about week ago made further pro-
gess to-day The proposed consolidation Of tho
ings Of the Erie, the New York Central and Penn
givania Central, ana the fact that the New York
Central will pass into me hands OF Mr. Van
Aerbilt and his friends u tho ensuing election,
impartng great strength stocks OF the two
former companies and especially Ere for which high
hgures are predicted based the contemplated changes
IN the Vanderbilt interest The transfer books OF me
New York Central Company closed on saturday last ana
the election wil take place early next month Inc e.
stsmeat In Pacific Mail has sutsided TO great extent,
and the closed at hrce O'Clock his
afternoon there having been posiponemen' from the
oh inst There is still large short Interest 10 inc
stock market but the bears beginning TO snn tho
battle afsr on and tesming prudence he better part
n yalor they are 'cover1ng" thor contracts.
The gold market opened ll0x, and soon Afterwards
Asclined to 1897. following which u showed strong
upward tendency Influenced 70 extent BY lower
suotatons for avstxenlies abroad. and steadily I'D
vAnced TO 1907, the cosing quotation being 1lox
1907. There . brisk borrowing demand for coin
from the bears and ioans made ., per cont
SIS ooe the gold balances 10 ST. oo2sso aud tho
currency balances sl.S4l $40 Tue foreign BANKERS
have been among the largest buyers during
the last few days, In view Of the still unsettled
aspect OF pcliics affairs Ia Continental Europe and
the possibilities " Congressional legislation during the
ensuing session. It s obvious that Congress can do
nothing calculated to produce decline in 20 d. and It
may do much that viii advance The premium. Hence
parties indebted Europe anxious DO The safe
SIDE and they are buying, while the spectators
Aong likewise In anticipation OF higher asurea does
not that the full enec, Of Mr. Tnaddeus Stevens
s,ter the redemption OF the gold bearing debt In
legal tender has yet been fol, eIhar at homo
ab.oad, and It viii improbsbly loom up conspicu-
eusy In the proceedings OF Congress The steamer
hermann took out only 81, 600 In specie.
According TO the Custom Ho returns Of this port
the receipts Of specie and bullion from California
erst ten months d the present year amounted to
e24 1877 20 while the imports from ports
Ing the same time were 1852 oo4--makng . total
pply since tho LIST Of January OF SIT 029 12A The
exports OF specie and bullion foreign ports during
time aggregated 1924 showing the exports
70 have been sic OILS IN OF the receips Tho
receipts The port In October S. 6s2 $50
making total Of Sl0Ls75,476 he LIST OF January
The receipts In January 50 4T25ss, in February
ell4ee4ls, in March $llo774ls, in April ss,372,7 I'll
/. h Nav So sac. 7Go. N June s7725.l35, July
80, 5o5,43, in August 2.o2s 900 and in September
t1l7l2,l6L The receipts for the hrst ten
months Of 1868 exceeded those OF tho
year nearly thirteen millions the total
having been sil4,655, 329 whs tho corresponding
mon his of 1865 tho receipts fell Than eight mil
Mons and quarter short OF those OF the present year,
the total hav ng been $sS, 4eod7l.
Money was in lighter demand than yesterday and
lenders had dficaly 10 employing their funds at
per cent Loans were, therefore, made Ia o
Zee instances 1rst class houses per cent
regard the CT coliasra provided they were
good. On government securities the rate six per
cent aimoss without exception There is a httlo
,oss dstrust OF mercantile credits At tho banks,
and tho latter disposed TO accommo lac
their customers with discounts OF the best grade
Of paper per cont but outside OF The banks
has sill TO submit 70 per cent The prospect 10
favorable to easy market during tins
ssmainder Of he year. allowing for the drain southwark
20 tho cot crop.
Al the commencement Of business the stock uarkc.
Grm Sigh, advance upon the closing prices OF
last evening" the early session OF tn, open board
New York Central sold at lisH max; Ere Tx 70;
Hudson River, 1881; Reading, 97S 97ss; Cleveland
and Pitisburg s2k; Michigan Southern SOY Rex
Island o6k o6I.: Northwestern, 4o]s; do preferred,
sa1 Fort Wayne, 97I 975s; Pacific Mall. 1851.
AZ nrst regular board the market strong ami
rather animated, especially for New York Central,
I hignex than .. the same ume yesterday, Erie NJ
Reading a. Michigan Southern y. Cleveland and
Toledo 1. Rock Island u. Northwestern ], do. pre-
fsrrsd x, Fort Wayne y. Ohio and Mississippi
hGcates NJ Canton IL. Western Union Telegraph
4 Hudson River X lover, Cleveland and Pitts
burg 4, Pacific hail y. Government securities we're
Arm aud modera ely active. SKIES OF 1891 closed u
higher coupan ve-swcntes Of 1862 ~ issue OF 1864 y,
OF Is6s u, issue of 1865 i, seveI.thirtics,
third series T. Tie State stocks sympahzed with the
general improvsment and Tennessee skies advanced
issue y, Missouri skies u. Tho express shares
stronS and Adams advanced 2H, United States AZ,
Esrchapts' Unieo.la, weils-Farso y.
Al the one o'clock open board the market continued
strons and prieec generally higher Eric sold
70 q 75I EeaeiSg, e7z: Michigan Southern, soA;
Rock Tland COX; North ~-stern. 4oL 1885, do pre-
fsre, 6atz Fort Wayne. es: Western Union Telegraph.
ga s2ss; Paciss Mail, l371l; Toledo, WABASH and
: Western, 40
Al tho second regular board tn market very nr
Michigan Southern active ard advanced
V 81 and NORTH vesisrn common sold at so
Trsre was no transaction 10 P4ciac Mail.
Nor York Central cloaed !. lower than at the first
reg'ar b,ard Rock Isacd y, Western Union Telegraph
Y Erie was u higher Reading Il, Michigan Southern
~. Cleveland and fissourg v, Northwestern =, do.
prefs. red u Ohio and Mississippi certificates r. At
ixniio Mall 4. Canton Y sCovernmsnt securities we're
quiet Gsi ssoids. Among Tho express shares Adalns
advanced q. and Unitod Sasos declined ~ Merchants
Onion x.
Al tie open board II hsf-psst three there
ssrsi caslsc sxcspt In PssbHrg, which advanced S.
New Yorl Central ssld At il<% Hris 70 7SJ1: Read.
ina, s7x; LAnton, a.; Michigan Southern, SIX g.;
Cleveland and Pstsbsrg, So sax; Rock Island. eos;
Northwssefs, 5ot do prefcrrsd. etS; Western Uu,on
Telegraph. sssS Dunns the " afternoon there
wrs sxclsc demand fsr moss~i the leading railway
shares, and prices adssncad shs-py, especially for
Northwestern cannon ans prcferrss and Fro At the
cicss str O'Clock, ths market suoyant q, tho fol-
loving quo,sAons:-Nev York csnssl. 1iS1 liAk;
Erie, f3k T3s1; ,zudsou RSer i2t6 10; Rsading.
- ee4; Michsar southern. ,sl% a.; cisssaOd and
fiilsbssg ssk a $50; Rock Irsiaud. s6I 81; Fort