The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-31

ahd the decline OF last evening was soon recovered
Prices continued TO advance under the manipulation
OF the bull cltques whose object is to unload as far
- possible at the present juncture while the shor
$terest gives certain support to the active stocks
That the bulls have hard winter before them they
arc not slow to perceive for the election Of General
Grant will tend to Q closer approx
nation Of the value Of the coin and
currency dollar, and consequently TO the
reduction Of market values as measured by paper
money The EFFORTS OF the cliques to force quota
cions against their natural tendency are attended
with great peril to themselves the more particularly
- prices are far above the range Of real values and
therefore liable to heavy break at any time, how
ever easy money may be. The general supposition
q that the payment Of the November interest will
AFFECT tho market favorably, but it must be
remembered that hitherto 1t has acted
an IN opposite direction in consequence
OF the active conversions OF coin into currency and
there is no obvious reason why the present instance
should prove exception to the rule. Erie is regard
I'd with great dsrus and the subject OF the altered
wording Of the new certificates was brought before
she regular board this morning, when it was de-
oided by large majority that tho new certificates
should be considered good delivery, while the
board voted to make formal request Of the pres-
dent for copy Of the bylaws, and committee was
appointed to make the necessary inquiries as to
their purport There Is margin at present for the
shipment Of Erie and the probability is that when
The foreign holders ascertain the financial position
OF the Erie Company and the extent Of the recent
and prospective new issues they will be sellers rather
than buyers. Government securities were strong
from the opening to the close under good invest
mont and speculative demand, and following the
Presidential election they will doubtless advance
siderably, these and Of the State stocks being
really chean ones the countrv nrices
The gold market developed diminished frmness
during the day and the fluctuations from 1Sa to
l34k, with the closing transactions prior to the adj
journment Of the board at three O'Clock at 13, fol-
lowing which the sales continued to be at this price,
There was brisk borrowing demand for coin, and
loans were made at 1-64 1882 per cent per diem,
and o 3 per cent per annum Tor borrowing as
well as without interest and at one per
cent per annum for carrying. The gross clearings
amounted TO $6se5s.oOo the gold balances to
5000 293 and the currency balances to So 247,45S.
The SubTreasury disbursed $3.50 in coin in pay
ment Of interest on the public debt during the day
and sold 100000 in coin, the bids for which
amounted to 5000, 600, while the whole amount
offered was awarded to Henry Cews Co. Mt
134 SLIGO. IL 4 understood that oil who hold large
amounts OF November coupons can have them
cashed tomorrow at the Sub-Treasury, but this ex-
erted no influence upon the course Of the premium
1t the borrowing rates. The variations In the price
during the day were as foows-
40 A. M.::......... 134,i 1:23 T. M.....".... 134
11O6 A. M......... 134is 3P. M.............. 1343s
At the commencement or business the stock mar
ket began to rally from the depression OF last eveu
Ing and at the early session OF the open board Erie
sold at 4o,i, New York Central 1855 and Rock
Island 1861. At the first regular board the market
was dull and on the call New York Central closed y
Aigher than 1t the same time yesterday, Erie N
Michigan Southern u, Cleveland and Pittsburg ~
Cleveland and Toledo " Rock Island u, North
western Il, do. preferred ~ Fort Wayne u, Mnwau-
kee r. do. preferred =. Western Union Telegraph -
nlariposs preferred III and Tennessee SKIES, new
Issue, u, while Canton II higher, North Carolina
aaxes Y and Missouri skies x. Government
securities were dull but firm. At the open board at
oue O'Clock Erie sold at 40, New York Central 1861
and Fort Wayne 112x. At the second regular board
Nsw York Central closed 4 higher than at the nrst
regular board, Hudson River u, Reading X,
Cleveland and Pittsburg e, Rock Island u, Ohio
ana Mississippi y. western Union Telegraph 4,
Mariposs preferred u, Tennessee skies, ex coupon,
X, new issue x, North Carolina SKIES, n and Mis-
souri, SKIES x, while Erie was 4 lower and
Northwestern preferred 4. Government securities
were strong &C an advance Of Ma y per cent.
At the open board Of half past three
erie advanced on the call from l0k to All, while
Reading sold at 99l, New York Central 1885,; Fort
wayne, 11s,s; Rock Island 1ooJl; Northwestern, y
and Mariposa preferred, 22x. At the close at six
o'clock the following quotations were current, the
tendency then being towards lower fgures:-Pacifo
Mail, 1914 127,s; Western Union, 36E a3ex; New
York Central, ~; Eric, AIS; Hudson River, 13s;
Readlng, soh sps; Michigan Southern, sex 81;
Rfttsburg, So ssH: Rock Island loeJs 10s; North
western, OK 9lk; do. preferred. e2es 92.; Fort
dik; Mariposa preferred, 22H q 229S.
The market for government securities closed strong
1T nve O'Clock at the following quotatons:-Regis-
tered, 1881, ia lax; coupon, 1881, lis 1l5X;
s2o'sreSistered 1oeh lo7 52os coupon, 1862 1135i
1882; do, 1894 1l1z Iii5. do, 1895, 111& il2;
d. new, 1885, 1lo7E 1lots; DO, 1861 110sl 11oN;
so4o's registered, 1o4ts 1oik; do, coupon, 1904
los,s.
The circular Of Messrs. Jay Cooke Go. thus refers
20 the days business
For the greater part the day money was very active
and indeed seemed 10 work very obstnateiy, and In
ace Of II the government market opened strong with
rood demand. The dealings have been very libe
largo amounts have changed hands and at constant
~ advancing rates. As the day wore on money was
RAGS and this was eagerly gresped a. an Indication
81 the approach Of the long iocked-for 'lct up.'
The foreign exchange market was barely steady
and the supply Of commercial bills fully equal to the
demand. At the close bankers bills on England at
sixty days were quoted at 1oek O 109yS; at three
days. 11oX 110is; commercial, 100 1921. Bank
srs' bills on Psris-5ls a6l3'l. On Berlin-Bank-
srs,, Tx TX. On Bremen-Bankers, 7SlS a 79x.
On Frsnkfort-Bankers', 4ok Al. on Amsterdam
Dankers', loX Q II. On Hamburg-Bankers', % q
sax. On Antwerp-Bankers', 6.1ei4 q 5.lh
Consols and American securities we're quoted thus
An London to-day and on the previous dates men.
St0ned:-
NOnHOi9. VA rs
Rive-twentes.. 14s To- TIA
Illinois Centra.......... 20 ". VIA
Erie. GA "'k -
The business transactions at the sub-Treasury In
this city to-day were rs follows:-
Receipts S1s.o.,i4 Paymenis..... ~, oTa 10t