The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-11-18
FINANCIAL AND CONNER cIAL.
WEDNESDAY, Nov. l7-8 r. NJ.

To-day being tnc eve OF Thanksgiving was a SEMI
holiday in Wall street. The Stock Exchange
adjourned aI three O'Clock and there was o general
suspension Of business at that time, although
Email group continued to deal In stocks on the side
walk for nearly an hour after tho closing OF the
Long Room. Most of the principal opera tors, how
ever. had gone up town or OUT VI town, aud there
was little or no animation. The features to-day
were the Vanderbilt stocks, which, owing othe fact
that the CONSOLIDATED certificates now being
ISSUED IN exchange for the original shares OF New
York Central and OF HUDSON River, were the subject
OF action by the Governing Committee OF the stock
Exchange TO arrange their call a the sessions OF the
board. After some deberation the committee
agreed 10 the folowlng:-
Resolved, That the stock OF the New York Central
Railroad Company, with the old certificates at.
tacbeo, ana the stock OF the Hudson River Railroad
Company be called as ut present, ana that the new
consolidated stock OF the company styled the New
York Central and Hudson River Railroad Company
be also called; and. further that the scrip be called
rs "the New York Central ana HUDSON River Rail.
ns sHa oa cali U
stock OF the New York Central Railroad Company
ahd OF Tue Hudson River Railroad COMPANY me
livery oil old stock and scrip, as at present or by
delivering the new consolidated stock, with the
proper scrip and cash attached as folows:-F0r 100
shares New York Central may be delivered 100 shares
consolidated stock, lol peg cent ia Scrip and $40 IN
Dash; Tor 100 HUDSON River, 100 shares consolidated
stock and SO per cent III scrip.
The terms OF the resolution not being Immediately
known 70 the public there was considerable coniu.
sion when al the second call the four different Sc
Cuiltles mentioned III the resolution were sepa-
rately quoted. The redundancy OF the words enter
ing into ana comprising the title OF each was,
OF course, the secret or the misunderstanding.
1t was not until great deal of ttte tdte explana-
tion took place shat the matter fully understood.
After December there viii, OF course, be but one
n oh WI liz IN
scrip Win doubtless ind ts place IN the call OF rail-
way Oonds and mortgages, where the debt certif-
Gates OF New York Central are now enumerated
The effect of this action upon New York Central was
directly visible. In the forenoon and before the
decision OF the committee the increasing exchanges
OF the old stock for the new frightened many or the
bears into covering, for the reason that the stock
was growing comparatively scarce. Under these
circumstances the price rose to 1867. After the
decision OF the committee, however, that delivery
OF one hundred shares OF the new stock, accom-
panied by one hundred and seven shares OF
scrip, equivalent to a delivery of one hundred
shares OF the old Stock the fears Of the shorts
quoted and the price fell to 1884, The same infu-
ences were at work in Hudson River, which sold as
high as l64M. The general railway list huctuated
moro or less with these changes. Rock Island
which was weak and heavy. declined to lo2is, but
the changes were less marked in the others. Pacific
Mail was fevcrish in the earlier portion OF the day
and sold as low as 531, but became steady, II not
strong, after the result OF the annual election was
known. There was but one ticket In the field
as follows which received the vote OF III, 1o6
shares:Allan McLaue, William Dennistoun, James
NJ Brown, Howard Potter Abel A. Low, Francis
SKiddy, Jonathan Thorne, William II. Webb and
Sidney Mason. There was an absence OF any direct
speculative movement after the election, and the
street seemed to DO awaiting further developments
The Stock Exchange has adjourned to Friday at
hafpast eleven O'Clock.
The money market was easter, and the majority Of
the loans were made at six per cent. with cxcep
tons on stocks at seven and governments at ive
the market followed the course usual on Satur
day, when there is q relaxation in rates to OBJ
tain the two days interest over the holiday In
commercial paper there were no now features.
Prime double name acceptances were quoted ten to
fifteen per cent discount. Foreign exchange was
nrm. Rates were unchanged, despite an active de-
mand Tor bills. The range Of quotations fol-
lows:-stering, sixty days, commercial, 1855 a
1885,; good TO prime bankers. 100 lools; short
sight. 1925 lo9a4; Paris, sixty days 5.2l4 5.le)s;
short sight. 5.15 5l3}t; Antwerp. 5.2l4 5.lsls;
Switzerland, 52lla 5.l7is; Hamburg, 35k 80;
Amsterdam, 4o,4 4os{; Frankfort 4Oi4 4o34; Bre
men, 7ass 70; Prussian thaleIs, 701s a Tx.
The government market was nrmer under the pur-
chases OF the Sub-Treasury, which amounted to
three millions inclusive Of the regular one million
for the sinking fund. There was more steadiness in
the Foreign market to-day, and the German bankers
were buying some small lots.
Tue gold market was steady on moderate amount
OF bu,iieas. For loans oil cash gold six 10 seven per
cent was paid for carrying The price al the dner
ent hours was as follows:-