The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-10
FINANCIAL AND COMMERCIAL.
FRIDAY, Oct. 0P. N.

The cold market has been steady to-day, atnough
pe operations for fall were large. The nuctua''oiS
we're from 1854 to 1904, with the closing uaiHs0
lions prior the adjournment OF the board a. three
O'Clock at 1so following which the latest quo'ason
ON the street was lS9 l391. There was an active
borrowing demand for coin and loans were made at
X, 6-s2 s.1e 9-e4 7-ea $50, 1-ei and ls2 per cent
per diem in favor OF the lender, as well as "nat."
and in few instances after the clearngs were made
st Q per cent per annum for carrying. The gross
clearings amounted 10 $l28, 1000, the gold bal
snces TO IS 059, ss4 and the currency balances to
Il gu o5a these amounts being about double the
usual AVERAGE. The b-Treasury d,sblrsed $6,59s
N coin during the day in payment OF interest on the
public deot. The advance in the rates Of exchange
on Europe was without effect upon the course Of the
premium, which Is kept down partly by Treasury
sales and the persistent efforts Of the BEARS who are
at present arguing that II the Pennsylvania elections
on Tuesday next result In favor Of the republicans
this wiz be OF further depression In the gold
market; but appearances seem to indicate that this
event has been already discounted the extent OF the
sshortn interest, both mercantile and speculative,
being enormous, while the frmness OF the foreign
exchange market favors sympathetic movement
In gold. The price varied az intervals as follows-
1o.1s 1 1asss l 5s" p NJ NJ i is' 1so
Money continues In good supply to first class STOCK
and trust companies ask seven for small and mode
rate amounts on mixed coateras. Towards the
close an improved demand for loans was reported
In some quarters, but there are 40 signs as yet OF
any impending change IN the condition Of monetary
Affairs Of this centre either from natural or artificial
causes. There ls considerable movement OF cur
rency westward but Chicago journal OF Wednes-
day says that a more active demand Tor money ID
felt in that city from all departments Of trade. This
IN fOri
counts having been deferred until after quarter day.
The amount Of currency there is reported
10 be fully equal to the demand for the
movement OF grain, however; and although
small remittances are being made to the
country some Of the country banks are sending Or
Gers to their Chicago correspondents to have funds
RENTED to New York for their account. The gen.
eral trade OF the country continues moderately &C.
tive at fairly remuneraive prices; but 1t Is without
speculative features except among the grain ope-
rators and purchases are for the most part confined
70 supplying immediate wants. The dry goods
suction sales in this city to-day were not very
largely attended, but the bidding was more spirited
Than usual for week past and prices ruled steady.
Lots were seldom passed and equally seldom dupli-
Gated.
On the Stock Exchange speculation was rather
tame during the day. and Pacific Mall, after selling
ct 12S declined TO 1885, recovering 127 late In the
afternoon. however. 1t is reported that the Pacific
Mail Company win advertise its advanced scale Of
rates OF fare and freight tomorrow. New York
Central remains steady, Notwithstanding the com.
pany's contest with the Pennsylvania Central for
the trac to competing points in the West and Erie
in equally SO, although 1t has reduced Its rates
through Western freight to very low point IN |
order to compete with the New York Central The /
residue Of the five millions OF stock OF the Atlantic
and Pacific Telegraph Company is offered for sale by
Mcssrs. Henry Cews Co., and 1t Is announced that
the company's lines will be completed TO Chicago |
early next week. These already connect with all
the Eastern States and Will ehortly be In communca
sion with all the commercial centres OF the country
The proceeds Of the stock are to DO expended upon
The further extension OF the lines and additional
wires to meet the demands Of business The public
wishes success to this and kindred new companies
In Geographic enterprise whose wires are
rapidly forming q network East, West, North and
South. With the spread OF facilities for Geographic
communication teiegraphic business win increase,
and as 1t does so the charges for ransacting It win
decrease and SO the public convenience and pocket
will be equally served while the profits OF telegraph
companies win swell with the growth OF their bust
ness, little pront on much being more satisfactory
for oil parties than much on little.
The market for government securities has been
dull oil day, but II was steady during the forenoon
and firm afterwards at an advance OF e u per |
cent in some instances. The new nve-twentIes OF |
1865 were reported to be In demand for shipment,
but the home investment demand Is mainly for |
the bonds OF 1897. There Is no pressure to sell
either from speculative outside sources; but dis
position IL shown by dealers to restrict operations
pending the Pennsylvania election, upon the result
Of which tile immediate future Of the market will
be to some extent dependent should IL be In favor
Of the republicans, as Is generally expected. United
States stocks wiz doubtless receive upward Inn
petus thereIrom. At the close at FIVE O'Clock the
quotations were as subjoined:--Unlted statos 6's
Pacific Railroad 90 100; do. do, 1851 registered
zl22l ll3; do. do, coupon, 1l3st ia; d. 52o's
registered. lo5 1o5T; do. do coupon, 1862 1923
1l2si; do do. do, 1864, llols ilox; do. do. do.
1seS, 10Y nos; do. do. DO, 1856, new, l0sx o
1oss; do. do do, 1867, 1883 1oss1; do DO, 1861
1905 lo9i4 d. 1oi0's, registered, lo3H lo31 do.
DO, coupon, los q 1861
At the commencement OF business the stock mar
kct duh and barely steady and at the early
sion OF the open board Pacific Mail declined to 1907,
while Eric sid at 4s1s, and Milwaukee and ST. Paul
preferred et par for the FIRST time at the first regu.
lar board the volume OF business was light and he
speculative feeling rather tame On the call Reading
closed Z lower than at the same time yesterday,
Cleveland and rittsburg a. Cleveland and Toledo 4,
Fort wayne 4, ohio iS, Pacific Mail ~, Quicksilver
u, Tennessee sixos. new issue, X, and North Caro-
lima sixes x, whilc New York Central was Y higher,
Rock Island :, fwaukee Ia, preferred 2, Ma riposa
preferred 4. Missouri Z. Government securl.
ties were dul but steady at yesterdays decline.
Mr.. William I. Taylor was elected member OF the
board. After The call Pacific Mail declined 70 1885,
but az the opca board at O'clock II was steady at
,25'l, while tue market generally was stronger Erie
selling q % :, Rock Island at 1854 end Marlposa
prefer : IA which there has been considerable
activity OF late, at 1917. at the second
SECULAR board the market was rrm, ana on the cali
New York Central closed u higher than at the irst
board, Michigan southern x, Cleveland ana Toledo
y, Rock Island ~, Fort Wayne Z, Canton u, and
Narpose preferred 4, while Milwaukee and ST. Paul
preferred was u lower. Quicksilver u, Tennessee