The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-22

- a lJOkl 2;27 ~ M...s....s. 49,
Up M............. 1901 4P. M.............. 1907
A;2o 7. M.......... la r. Mo-. 1Svx a 1903
Loans Of cash gold were made at i've to four per
cent for carrying. The Deutschland for Europe, took
put 500 900 in specie.
The money market was more active and six and
seven per cent were the prevailing rates on call
loans although the government dealers were excep-
eionaily supplied NJ nve. There il q steady outflow
OF currency to the Southern States In exchange Tor
che cotton CROP but the accumulation OF capital
etil 80 large AZ this centre that the effect is but
slightly perceptlble In the rates call. The
demand from the West is not active, although the
grain movement continues and the explanation
probably lies in the fact that western debtors are
sending wheat to their Eastern creditors the latter
complaining OF the dlficulty OF making collec.
lions. The West "a yet largely in debt TO
the East from last winter and spring. and
che crops now coming are doubtless being shipped
TO meet these Old claims. Hence the light remit
tances OF currency westward. While the rate on
call Is easy discounts dull and prime paper
not be sold except at figures which would astound
Old time merchants Some OF the best endorsed dry
goods paper went to-day at twelve per cent discount
and the range takes the wide extremes OF ten to
fifteen per cent for the very best accepuances.
Towards the close OF the day there less firmness
IN the foreign exchanges and although the nominal
quotation Tor prime bankers sixty day bills was
10e, sales took place at 109. The rise in gold and
the fal IN the nome price OF government
securities allows shipments OF the latter to
Europe and the exchange market doubtless felt
the effect Of the offerings Of bond bills. The lower
price for cotton, combined with the In gold also
enabled free exports OF the staple and also contrl.
buted to the supply of bills The government bought
one million Of bonds for the sinking fund, the
aIrtha ai,to IN gaat NJ,
sngs beng ovef five millions assisted the decline
Anaugurated by the large orerings to the govern
ment yesterday, and as consequence the whole
market was lower, but steady at the new schedule
OF prices as o consequence, In turn, OF the frmer
tone OF the gold market. Southern securities were
quiet except for the 1ennessces which were steady,
and the North CaroliDas, which were actively weak
the special tax bonds going OF to 49,
In the stock market there was during the fore
noon maintenance OF the high prices Of yesterday,
but after meridian the course OF speculation
changed, and under pressure to realize the market
broke down, the lowest prices being made after the
last call OF the board. The sales to realize were
quito perceptble the Vanderbilt stocks, New York
Central going of from 1914 to 190h and Harlem from
las TO 14S. Lake Shore again absorbed great deal
OF attention and nuctuated between 83 and OAK. The
meeting or the directors takes place tomorrow at
Cleveland and among the business to be dts
Cussed is the project Of consolidation with the
Wabash Railroad. II was also rumored that the
directors were to receive proposition from the
New York Central Company for the release OF the
Lake Shore, but on what terms is not stated. Some
color of truth given this assertion by the fact that
Commodore Vanderbilt and party OF New York
Central men left Albany yesterday special train
Tor Cleveland. Erie continues to feel the depressing
Influences OF the strike on the road. In the Western
CT Dap MAJ
laneous list Pacific Mail suddenly assumed buoyancy
and sold as high 6lX in consequence OF negotia-
lions said to be in progress with the Panama Rail.
way company for new tariff OF charges, which
viii inure to the benefit OF the steamship line.
The Lake Shore directors have contracted to sell
two millions Of bonds to meet any deficiency aris-
ing from the failure or Lockwood Co. AS the
bonds are yet to be engraved they have SOLD con-
tracts for them through the Union Trust Company,
the price obtained being eighty-fve cents on the
dollar The bonds expire In ten years and are pro-
yded for by sinking fund Of ton per cent annually.
The following were the closing prices OF stocks at
che last session OF the Board:-Canton, SO o 81;
Cumberland 2s1a 2ss4; Western Union, 36s 3eX;
Quicksilver, 12ss 1917; Mariposa s1s 80; do pre-
ferred 1917 II; Pacific Mail, $50 u 5sT; Boston
Water Power, IA o Is; Adams Express. SIX;
wels-Fargo Express. 2o,l a 2oA; American Ex-
press. 35X 361s; United States Express, 81 q
679s; Merchants Union Express, 81. q II: New
York Central, l91; Erie, 3lX 3l7s do. preferred,
b4k a s6h; Hudson River, 172h Harlem, 1454 lac;
Reading, 9os OF; Michigan Central 1885 1873 ~ Lake
Shore, 934 93h illinois Central, 134 1888;
Cleveland and Pittsburg, 99k; Chicago and North
western, 71's NJ; do. preferred, Sih q sax;
Cleveland, Columbus and Cincinnati 70 a 77K; Rock
Island, 1oeia 1868; Milwaukee and st. Paul. Cox
e9Ts; do. preferred. s2h a s2k; Toledo ana
Wabash, ee% do. preferred, 70 bid; Fort Wayne,
S4N IS; Alton ard Terre Baute, 80 a 33k; do. pre-
ferred 59a 81; Ohio aud Mississippi 271; Della
ware and Lackawanna, ITO; New Jersey Central,
101A; Chicago and Alton, 141 bid; do preferred,
141h bid; Morris and Essex, ss bid Hannibal and
ST. Joseph M 49, do. preferred Ill; Columbus,
Chicago and Indiana Central. 24h a rs.
Tho highest and lowest prices OF the leading specu-
Iatve stocks are shown in the following table,
highest. LotDest.
Few York Central. ..........,...... I94 1901