The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-11-16


Was general decline 10 I4o5S follosed. however BY
recovery 70 i40s< is0H Al tho close After the adj
journmenl Of tbs board Cable despatch representing
nve-twentes Ct 7oss Lonlon an advance OF y upon
The previous quotation received, and relapse TO
l4o took place this prics being Afterwards bid There
vas good borrowing demand Tor coin, but the supply
vas in OF H. and loans we're made II a 7 per
cent for carrying. The cross cearings amoustod 10
S6i 200 600 gold balances to sloi7552, and the
currency bs anees TO 81, 526544 The foreign bankers
continued " be buyers anticipation OF tie enec OF
Congressional relation TO the nuances and
The reconstruction question The professional specua-
to rapidly changing from me bear the oali side
Of the Market and is upward tendency 10 assised to
some extent BY demand, speculative and otherwise,
from importers and mercantile community generally,
among whom there strong desire that the premium
should advancs. order THAT prices Of merchandise
may DO simiIarly affected. Tiers has been much
depression In trade for long time past that business
anxious FOR relief through return OF uoyancy
the markets. and therefore, the most part
advocates Of currency innaton or At least suspension
a further contraction. Thai powerful party in Con-
grsss will favor the issue Of At least hundred millions
more national bans notes for distribution the South
sn States Is already known, and Is ioregonc con-
dasaen in minds convesant with the state or pubic
opinion, and cogaizsnt of tho present Of the
the authorizing Secretary Of The Treasury TO
tract the volume ., United States notes Al the rate Of
four millions month will be repealed Tho prevailing
sentiment Of the country against the further
contraction Of the circulating medium, and after the
sxcssEve- contrsctsn OF The past year this Is BY
means surprising The danger with which
threatened now h that OF running 70 the opposite
srsms Of irjudieioas imitation. t
Speculation on the stock exchange grows apace. and
thsrs has bean large business transacted advancing
prices to-day the strongest and excited OF the rail-
way shares being Erie and Northwestern common, the
price OF the nrst mentioned having risen to 7s1, and
shas Of she latter S3x. Considering THAI tine pre-
fsrsd stock Of the Northwestern company u selling
sboas IS, the pros Of the commaa u fas above liz
value, but ~ the object OF the clique in II
prdbabiy V force the s.shorts" to s'corner rather
shsa y gss the street 10 90 s.ong" Of IL ordinary
rules fall 70 apply. There 10 largo amount
Erie being bought speculation BY shrswd parties
IN consequences Of tho proposed arrangements between
and the New York Central and Psnnsyivana Central for
consolidation Of earnings, and very bullsh feeling
prevails with regard 70 Il Just now In the street. Tho
whsIs markss however, has strong upward tendency.
IND Of the largest bull movements In the history or
10 street Is talked Of very generally. But Wall street
pinioas must be taken with several grains Of
ulowancs Is -.n~. Afte tt
There was moderately brisk demand for money
TON the stock Exchange but tho supply was abundant
seven per cent ana first GLASS houses were able 70
brow, in most Instances, q six per cent The drain
4 currency nom Inc West l. sun ieIt and the now
outward a yst hardly exoseds IL The banks are
accounting she best grade Of commercial paper a
Svsn per cent but inferior signatures out u favor
Az the commencement Of business there vas good
tmaad for all the leading railway sOarss .. prices
ending upward from those currsnt q the close last
~sang but at the early OF the open board there
tss . decline Of KAA from the highest point pre-
tously touched New York Central soid q lax;
IRE. 7Sx 7sx; Reading o.; Michigan Southern, SIX
hs7 Cleveland ana Ptsburs. sSsS ssk; Cleveland and
'ssdo. lol, Rock Island, se7S o.; Northwestern.
hE ssH; 10. preferred. osx: Fort Wayne. ssK;
Western Union Telegraph, sax . SAX; Ohio ana Missis-
lppi certificates, 2Sk.
Al the first regular board the market was firm and
hsrs was large and wolf distributed business
sctsd New York Central and Erie being the most active
railway sharsa Pacic Nail neglected., thsrs
being only single Ransaction n the stock. North.
,sstsm common WAS quiet at SIX s1x. New
tork Central closed y higher than u the same
tns yesterday; Erie n Hudson River y, Reading y.
1shigan Southern ~, Illinois Central u. Cleveland
'ssd Pi,sburg L Cleveland and Toledo r. Rock Island
a Northwestern az. do. preferred \, Fort Wayne q,
ohio and Mississippi certificates Y, Atlantic Mall !.
y0vormmenb
swsatss Of 1881 closed lower issue Of 1864 " new
Issue q 1865 n new Of 1857 ~ sevsn-thirtiss,
shivd SERIES X The State stocks were dull, andvlr-
nia sizes tnsw declined ~ Ths express shares were
nm, excsps Msrchans' Union, which declined r.
Adams advanced TX, and Wells, Fargo Co. l.
AZ the open board u O'Clock the market was 1rm
epe railway shares and Northwestern advanced TO 52k.
A. The second regular board the speculative feeling was
animated and Northwestern advanced 70 50 and Erie 70
ysx There vas increased activity and bucyancy in
clsgsaId and Pttsoarg. which advanced 70 SAX.
to closed higher than q, tho nrss regular board,
Rsading X, Cleveland and Pitts,arg ~ Northwestern
TX. do preferred u. Fcr Wayne V. Pacific Mai was
X lover; Western Union Telegraph n. Governments
scursss we're inactive but nominaIy steady al the pre-
tious dsclIns rsnnessse sizes tusw) declined y Tho
express shares heavy, and United States showed
lsclins or TX, American 4 adams TX.
Al the open board a. half pas. three the market
arong and excited especially for Erie and Northwestern
ssmmon New York Ceptrst sold al i14t; Erie, 1873 q
1k; Reading, 97h; Michigan Southern, SIX; Clsvs-
tsl and rit,sburg, ss Rock Island. eoJt ss7; North
Western, SAX 5SA do preferred osk coH;
tacinc Mail l34A 49,, wssern Union Telegraph, ak
! ak. During the res. az tbs afternoon the market
xuaned oyant and excited, and there was particu
My active demand FOR Era AZ tho Close - six o'clock
- suboinsd quotations were carrsnss-nsw York Con-
srA ll4K il4x; Erie, 7sx 1875. Hudson River 10
y NIX; Reading. s7k scski Michigan southern. SIN
Anx; Cleveland and fiitsburg, San SAX; Rock
land, soH "; Fort Wayne. ~ ssk; North western,
~ a., da preferred. os4 s6,s; Pse,6s Mail is4k
p S4k: Ohio and Miss ssppl certificates, 2sk a2ox;
v(sssn Cnios Telegraph, sljs slx. eN
he foreign exchange market du, bet nrm n the
16sutng quotations s--Bankes' bills on England o.
snhy days, 100 1921; Al three dayA loex . 1924:
Commercial bills, losk 100; biIis on Paris q sixv
'Ats, SIX . 6l8h, a. TIRES days, s.l5k a6l4k.
hs D. Paul and Oh cage Railway Company has been
strsanizsd By The substitution OF ave directors
Or Of whom are directors Of thu Chicago and NORTH
~ussrs Railway Company, for iss same number Of the
"a dirscsors Msssrs W. X. Ogden. l. Hoibrook, " 3
Ahss n r. Young ana JOHN Harrington are tho names
sfshs former -