The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-12-01


Temporarily advanced to 1854, rcceding to 1867 be-
lore the termination OF business at 1--WE O'Clock. The
Fold gamblers ever ready TO take hold OF any pre-
tence for change In the market ana they kept tue
pace quite variable to-day. The volume or business
IN gold was small aud the demand by borrowers
eeble. Loans were made nat for borrowing and Ut
two to five per ceat for carrying. The gross clear
ngs at the Gold Exchange Rank were s40 e5S, 600,
the gold balances $l,56s,s59 and the currency
balances g., The range ia price Is shown
follows:-
itguest price,. I1oA
Lowest price. 1917
Closing pIlce. l3os
The government gold was awarded in one lot at
1856 65-l0o ,a
The money market was abundantly supplied
throughout the day. The banks were doing more at
six per cent call loans to best houses Between
stock houses the rate WAS i've and six. Among pri-
vate bankers I've and six the rates On prime
ana mixed collaterals. Exceptional cases at four
per cent embraced loans OF balances left from
Saturday undisturDed. Toward the c'ose OF banking
hours little more demand was reported, but there
Il idle money enough to meet II without a
change Of rates. The beginning Of new
month stimulates inquiry while the settlement
Of books for the year viii also have an
effect IN rendering money more active Foreign
from 1929 to 10o1s, although very large ransac
ton took place at 100 5-16. Commercial paper was
without any new feature.
Tie day in the stock market was, on the whole, a
duh one. The tone OF the market was firm and adj
vancing until one o'clock, after which 1t variable.
Prices at the beginning OF business were In general
q shade In advance OF those at the close on
Saturday night. The transactions Of the Grst
open board were buOyant. Those OF the regu-
lar board were steady at the advance The
feature Of the day was New York Central which sold
as high as 1919. Tie reports concerning the Erie
litigation, the OF flight Of OF the con-
spirators with the funds OF the institution the de-
cline In gold and the better demand for money unset
tied the market in the afternoon, ana prices declined
Erie fell from 39A to 36x, and despite the fact that
the dealings In 1t were very limited and that It Ia
virtually excluded from the street 1t exerted
mysterious influence upon the rest VI the list and
wcaScned prices ST Paul preferred strong in the
morning on account Of . report that fourteen per
cent Of new common stock would be issued to stock
holders instead Of o dividend. The common stock
weakened correspondingly. The express stocks
with the exception OF Merchants Union, were
strong. The Erie nuddie has led to good result
The dangers surrounding transactions In 1t have In.
duced the two boards to adopt measures for the pro
lection OF lis members against loss or injury from
the secret over!ssue OF stock by ang corporation
whose securities dealt In at their sessions. The
following resolutions were adopted BY the regular
and open boards Of brokers to-day
Whereas companies whose stocks are actively
dealt In ut this board have made secret issues or
SOCK without giving to the pubic Information as to
TIE amount or purpose VI Suca issues, thereby
dangering the interests Of those vino purchase or
loan upon such STOCKS; and whereas this board
recognizes its duty to put every cheek and guar,i
around It's business which can conduce to the SAFETY
Of the public and their menbers as agents; there
FORE
Resolved, That on and after January 81, 1862 this
board will not call or deal In any active speculative
not kept IN some responsible baak, trust company
or other agency and wnic snail not give
of the number OF shares SO entrusted 10 be regis
Tered AID snail not give ut least thirty days notice
dent Of this board Of amy attended Increase or tue
number OF shares, eitder direct OF Through ssuc
OF convertible bonds, ald which shall not at the
same TINE give notice OF the Oh which such
issue OF stock or bonds IL ABOUT to be made.
fer with the companies whose stocks are now
acti, ely dealt III, aid whose shares are not already
registered, respectively requesting them to accsdc 10
the terms OF the foregoing resolution.
The gov eminent market was dull ana in the main
weak. Prices opened firm, but declined with god,
and ut the close at i've O'Clock the following quota
tons prevailed the street:-Jnited States sixcs
1851 registered, 114ts llS; do coupon, 1884, lis
1l5I; 5-2o's registered. 1868 a 1o7; do coupon,
1852, 11lA IlI1s; do do. 1864, 107A 107is; do.
do 1885. 1918 lo7,4; do. do. new, 1896, llos.
lioIs; do. do 1857, 1los lio1; do do, 1885, HOY
11oX l0-4os, registered, 1857 q 1o35s; do. coupon
1855 a 1861.
A fair amount Of business was done In stocks on
the street before ten O'Clock. New York Central
sold ut 1925, St. Paul at II and st. Paul preferred ut
SO. Toledo was held at 102 with 1914 bid Prices
ut the open board were Observation-Disclosures, 80
q 4oa<; Wells, Fargo Co.'s Express, 20h q %;
American, 4s 4Sh; Adams, SO Q oil; United States
81 4s,s; Merchants Union, 10 1sM; Quicksilver
"a 24A: Canton, 81 5lis; Marposa, 81 OK; do.
preferred, 22K 22a; Pacinc Mail, 1ls;
Western Union Telegraph, sojs 81; New
YORK Central, LEX q 1924; Erie. sss =
3y;s; do preferred, o.; Hudson River. lao 1873;
Reading, oo1t s99s; Chicago and Alton. N0 $50: |
do preferred, lao bid; Alton and Terre Hautc 80 |
bid; do. preferred, 81 bid; Wabash, t9k; do. pre-
ferred, % 7oh; Milwaukee and st. Paul, 7oI q |
7O,s; do. preferred 81 q soIs; Fort WAYNE, 1l2Sa
li2,s; Ohio ana Mississippi, Sly S1x; Michigan |
Southern, sok so,s; Pittsburg, sS,s 80; Toledo,
1904 lol; Rock Island 1857 1851; Northwestern,
SSk sSs.; do. preferred, ssk ssh; Boston, Hart
ford and Erie ~ a FIX. In the interval before two
O'Clock New York Central sold Of 1924, Erie
at SoH, Pacific Mail at lisK, Rock Island At los,
Northwestern at IS, Hudson River &C 1872 Reading at
oS,s Aud Michigan Southern Ut 10. The feeling az
the second regular board was unsettled, with o
paratlvely broad margin between bidding and ask
lug prices. business ut the last open board was
very dull and Included sales Of the principal stocks
rs folows:-Paciac Mail, llS; Western Union 36,s;
Adams Express, 90; New York Central, i2sts; Erie,
IS; Hudson River. 13U; Reading, s5ss; ST. Paui 10;
st. Paul preferred. So; Fort Wayne, Ill; Chic and
s1H; Michigan southern, 81; Ptlsburu.
s.; Toeio, 100; Rock island loiIs; Mort western,
SAL Northwestern preferred, s7,s,
AT hal-pasl Ave O'Clock tie street quotations were
as folsows.-New YORK Central, 1sess 1zyis; Rock
Island ic7Js los; Hudson River, 100 n 1901: MchI.
gan Southern So 500; Reading, pss4 90, 81 Paul
preferred, So. bid Northwestern, SO s5ti; North