The New York herald., 1869-10-19
FINANCIAL AND CONNER cIAL.


MONDAY, Get. 1875 N.
Some Hneasiness was felt at the opening Of busi-
ness to-day lest the inception OF the movement OF
currency to the South and West SHOULD precipitate
an active mcney market ana lenders were inclined
TO exact higher rates On call. During this period
there was good demand for money at six TO seven
per cent, but after two O'Clock the lenders were In
the majority and loans were made low as Ave per
cent on governments and at six quite freely on
stocks. The inexpcable portion OF The bank state
ment OF Saturday Is now cleared up. 1t seems that
N the recent remarkable advance IN gold the pre-
ci0us metal found Its way here nom al
sections OF the country the out OF town banks ana
the people generally feeling positive that they coud
never again sell 80 adyaDtageousy whatever gold
they possessed Of 1t was the drain OF currency
TO Offset this influx OF gold thar assisted the then
stEingency IN money which helped to bring about
the panic In the stock market Thus day by day we
are getting The full history of that eventfni period
Now the counter current has set in. Boston ANA
other ports OF entry are in need OF gold 10 make
customs payments and the gold is going out OF our
city again, greenbacEs coming here in exchange.
Hence the bank statement on Saturday last
showed falling or 10 specie and gain IN legal
tenders. The discount market was steady. but
prime names were not negotiable less than ten 10
twelve per cent. Tho failure OF the firm OF a. NJ.
Holman a 90. was announced az the STOCK
Exchange to-day; but no particulars transpired con-
cernlng their liabilities. 1t Is supposed that they
were heavy losers in the stock panic but fought of
their suspension until today. The Cold Exchange
to-day authorized the newly elected directors to
change the plan OF the Clearing House from that
originally suggested In tho board and committed to
their action The Stock Exchange has referred to tho
appropriate committee resolution adopted tins
forenoon favoring the organization OF gold depart
mcnt. The creditors OF the Gold Exchange Bank
al q meeting this aFernosn signed paper by which
they agree to take no legal action against the bank
during the ensuing ten days, the object OF The step
being TO enable the institution to resume, IF possible
under the direction OF the receiver. Foreign ex-
change was steady and firm the basis OF 1o91s for
prime bankers sixty day and 1O9fG for sight
sterling bills. Governments were more active
and advanced about a quarter per cent on
the leading speculative issues. The regular
dealers report brisk revival of the private invest
mcnt demand, doubtless stimulated by the prox-
imity OF the 1st OF November, when large install
ment Of interest falls DUE The following were to-
nights closing street prlces:United States currency
sixes 1919 l0S; do. sxes, 1881, registered, 1les
100; do. DO, coupon 11os& 100; do nve-twentes,
registered May and November, 1l51 1151S; do. do,
coupon, 1862, do, 120H q 12c3S; do. do, coupon,
1854, do, 11o1s 1898; do. do. coupon 1865, do,
119I 113s; do. DO, registered, January ana July,
11s l1S15; do. do, coupon, 1885, do, 1lS 1885;
DO. DO, coupon 1857, do, 11siS 11si4; 90. DO,
coupon, 1858, DO, 1l8 q l1SA; do. ten forties
registered l0S 1oSA; Go. DO, coupon, 10s3S los1s
The stock market was active ana excited on the
Vanderbilt shares, particularly for Harlem which
rose to 14215 on the apprehension that the company
win pnt In force the provisions Of their charter
authorizing the construction Of horse railroad in
Madison avenue, above Forty-second street. 1t
seems that an extension below that point VIII re-
Quire the sanction Of the corporation, which, in
view Of the agitation Of the residents OF Yorkvlne
for better travelling facilities, win not be dnlcult to
obtain. The report was again revived on
the street this afternoon that the consolidated
New York Central and Hudson River Company
Will lease the Harlem road, double the stock from
seven TO fourteen millions and pay seven or eight
per cent per annum thereupon In New York
Genital the advance was to 1917, and in Hudson
River to 1897. The buoyancy OF these stocks was
contagious and caused general movement In the
other railways, Rock Island selling OF l09 Northwest
common ut 73H Lake Shore at 925S and st. Paul at
SIX. The news of the burning Of the Lake Shore
car works at Eufalo caused subsequent decline 10
90Z, but there was a rally when 1t was reported
that not only was the loss trihing, but that
the building was fully insured. The general
list did not maintain the advance, however,
but was left behind by the Vanderbilt stocks some
of the shares, Rock Island particularly, becoming
weak and heavy Erie was subjected to tho de-
pressing effects OF the reported strike OF Its enl-
plOyes and went or to 29l, from which 1t rallied to
0OK on the explanation that the delay In the pay
ment OF operatives due to the prevailing
scarcity OF small bills. At the close of business 1t
again declined, touching 29H. Pacific Mail was
irregular and everish, rising 10 5os ana then falling
or to 575s.
The following were the closing quotations at the
last session OF the Stock Exchange:-Canton, 504 q
IS; Cumberland. 2Gs q %; western Union, SoR
s6sl; Quicksilver, 12E 13ia; Mariposa So; do.
preferred. 16js q Is; Pacific MAIL IS; Boston Water
Power, 10 q is; Adams Express, 57ls IS; Wells
Fargo Express, 70 q 22ai; American Express, 34k
q sS; United States Express, So 6S1a; New York
Central, 1s4S 1S4,s; Hudson River, 164tz 166a<;
Harlem, 1888 a 1881; Erie, 3oA q 3ok; Read
ing, 053t q 95ss; Michigan Central, 1914 bid;
Lake Shore, 911s 914; Illinois Central, 13i 1857;
Cleveland and Pittsburg, 99ls 100; Chicago and
Northwestern, Tx q 72; do preferred, 81 S41s;
Cleveland, Columbus and Cincinnati, rs IS; Rock
Island 1917 los; Milwaukee ana st. Paul, o.; do.
preferred, s11s s1A; Toledo aud Wabash, GO 6eh;
Fort Wayne, 841k a S5; Alton and Terre Haute, 81
314; do. preferred 5sh bid; Ohio and Mississippi.
n 27H; Delaware and Lackawanna, 40 HOG;
New Jersey Central, 1919 1c2; Chicago and Alton,
144h o 146; do. preferred, I43 La; Hannibal and
st. Joseph, 100 a I0g,s; do. preferred, los n llG;
Columbus Chicago and Indiana Central, 20 25.
The following shows the range Of the principal
SOCKS to-day
Hiphes. Lo,osst.
New York Central. ral.................... 1917 1S4ti
EIle. Observation-Disclosures. III 23}s
Harlem .............-.............. 1A2is 1904
Hudson River. r..,.................... 1904 loih
Reading. Observation-Disclosures. e09a 95ls
H..