The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-09-21
FINANCIAL AND COMMERCIAL.

MONDAY, Sept 20-0 p. M.
The convalescent feeling after the late sweeping
raid upon the stock market was moro manifest to-
day, although the recovery was not steady and
gradual, but by ITS and starts. II we may judge BY
appearances-which are oftenest the least reliable
sign In Wall street.-the "bear" speculation has cu-
minated and reverse movement been inaugurated.
The late 'bears were still worrying the market TO-
day, assailng it at each advance ana gave evidence
OF q desire to purchase. All clique movements
depend for their success upon the secrecy
with which they are conducted. Hence In
preparing for q counter movement In stocks
the "bears" are compelled to keep up
desGltory nre under cover OF which to make pur-
chases their own account as well as to induce an
increase OF the 'short" interest That the market
was being 80 manipulated to-day evidence was
plentiful. There was raid in the morning and q
general "talk' OF tight money, under which prices
went or to nearly the lowest Of last Friday. Then
the market rallied, but was once more assailed. AS
1t went down the quondam "bears," but now
''bulls" bought while they tempted the street into
s'g0ing Short" The day closed with another rally
and a buoyant market. The feature was Pacific
Mail, which suddenly advanced to II in consequence
Of "new DEAL" by which Mr.. O. K Garrison Is
to be run for the Presidency. and a change in the
administration effected at the next election. AS the
short interest in Pacific is very large IL was easy to
there was an advance from ~ to II. New York
Central opened at 204 fell to 199, and was thence
forward ferverish between 200 and 202. The meet
ing of the directors, which comes of on Wednes-
day, at Albany, stimulates buying, and the ''bears
are afraid to sell. Erie was quiet and weak Lake
Shore 10 still IN CLOUD, and will remain 80 until
there has been sufficient probation for its
late misdeeds The money market was quite
tive, but stock houses were fully supplied
at gold interest before three O'Clock. There
was no dispute about paying this rate, which
fact seems to indicate that the change in the stock
market Is the initiation Of "bulin movement
There ia o better demand every day from the South
and West for funds; that 1t is hardly probable the
money market will be less active before the middle
of winter. We are fairly launched into active
money. This natural str!ngency was aided by q
movement to make greenbacks scarce, as an OFFSET
TO the "bull" movement In gold; but the comblna-
ton In the latter market denantIy advanced the
price to 1914, which they were the better able to 40
from the apprehensions Of din1culty on the Cuban
question, the Gold Room circulating o story
late In the day that three gunboats were being
made ready at the Navy Yard to proceed to the
island in question. The gold "buls" repeated the
old threat Of advancing the market slowly and
steadily day by day, until the bears refused longer
TO buy when they would refuse to lend the gold
ner." The following were the closing prices Of
stocks at the last session Of the Stock Exchange
Cumberland, 81 bid; Western Union. 36X S8X;
Quicksilver, 1871 14l; Mariposa, Ok 10; do pre-.
ferred, II IS; Pacific MAIL 72x TAX; Boston
Water Power, 10; Adams Express b5h 66
Wells-Fargo Express. 1s 1917; American Elk.
press, s5X q 35h; United States Express,
80; Merchants Union Express, 1H bid;
New York Central, 200X 2o01a: Erie, 3ox; do
preferred, SO; Hudson River. 1904 bid; Harlem
$50 q 1915 Reading, e5X; Michigan Central. 12eX;
Lake Shore, 9eH eos; Illinois Central, 1877 1885;
Cleveland and Pittsburg 1868 bid; Chicago and
Northwestern TAX IS; do preferred, s5X q SO;
Cleveland, Columbus and Cincinnati. II 10;
Rock Island, loe3S look; Milwaukee and st. Paul.
TAX . 70; do preferred, So q s3H; Toledo and
Wabash, TAX a rs; DO preferred, soK bid; Fort
Wayne, SO SEA; Alton and Terre Haute preferred,
81 q SO; Ohio and Mississippi, Blk o SIX; Delaware
and Lackawanna, 112; New Jersey Central, 1909 a
102; Chicago and Alton, lat $50; Hannibal and St.
Joseph, lit o 1l9; do. preferred, Ill; Columbus
Chicago and Indiana Central, 29K Q 29A. The
highest and lowest prices OF the leading stocks were
% f0llOws:-