The New York herald., 1870-09-20
FINANCIAL and COMMERCIAL.
WALL STREET,
MONDAY, Sept. 1915 r. M. !

SAvlB1tVAlAA AAlv~
WALL STREET, |
MONDAY, Sept. l9-0 +. M. j
The week opened ON an easy money market and
the supply on call was maintained 10 the close OF
banking hours at the general rates OF slx per cent
on stock collaterals and nve per cent on govern
ments The larger government houses had balances
left with them at four per cent While on the other
hand some lenders procured seven per cent where
they were content receive inferior cOaterals with
narrow margins. but the really quotable rates were
i've to SIX per cent Commercial paper was quoted
seven to nine per cent discount. Foreign exchange
was lrmer IN the absence OF further sales of Cana
dian bills, but duh, the demand being light.
STOCKS AcTIvE-THE "BEARs'' ATTACK THE .Bur.Ls.r ~
The couIeur de rose aspect of the Stock Exchange
and the quiet serenity OF the upward movement
which has been the feature OF the market since the
'bulls," deriving courage from easy money, began
TO bestir themselves gave place to stormy and ex
cited scene to-day under a sudden and sharp raid
Of number Of leading "bears," whose plans had
been wholly unsupported and were, therefore, oil
the more surprise TO the market The feeling dis
played on the occasion was perhaps Its most novel
feature Recrimnaton was freely INDUCED In anu
tannts employed that were equally humorous and
sarcastic. Thus when the 'bears' were selling Ohio
and Mississippl they proclaimed the wOrlhlessness
OF Sunday school stocks" in a manner that
forced q grin even from the "buls" themselves
such was the jocuar reference contained In the
designation. Our readers VIII doubtless remember
the "pcnic'' OF last summer ana the misfortune
which befell the shares referred to on the day the
festival occurred. Whatever the real meaning OF
the attack to-day 1t was well supported, and com.
prfsed some Of the "consututionalr "bears," who
are always grumblng at a rising market It's, be-
sides, an agreeable diversion the monotony OF the
street. and promises to make the immediate future
OF the stock market replete with actlyity-a cond-
tion OF things which will not be distasteful to
the brokers, who have endured plentiful
dearth OF commissions. The ''hammeringn was
done In no mean manner, but with
blocks OF five hundred and thousand
shares at time 1t is only proper to add that the
decline produced by these enormous sales reached
an average barely OF one per cent, and was almost
wholly confined 10 the features which received the
brunt OF the attack. the general list, while lower
being comparatively steady. Hence the ever scept.
cal street began to doubt the elncerity OF the
"bears," particularly as the latter were known to
have been very recently hand In glove with their
now proclaimed enemies. However, the freauenters
OF Wall street have the privilege OF taking their
choice OF either theory and paying their money
again, as they always do. Ii the proiessed ..bearsr
are not breaking the market with view to
buying and placing themselves IN the same
boat with thc "bullo cliques, who have
taken time by the Iorclock and pledged their stocks
Tor extensive time loans the campaign In Wall
street bids fair to be an exciting one. The division
OF the leaders into opposing parties VIII naturally
enlist the sympathles ard margins OF the outside
operators more quickly than duh and ploddng
market, where the movements and plans arc all on
one side. The Montagues OF Broad street In throw.
Ing down the gauntlet 10 the Capulets OF Exchange
place will enlist corps Of partsans and
provoke host OF enemies whose conflict
will yield golden victories 10 the brokers.
The following were the closing prices at the last
session Of the Stock EXchange:-Canton Company,
81 bid; Cumberland Iron, 40; Western Union, a4x
34H; Quicksilver, AZ 51z; Mariposa, 8 o 81;
do. preferred, l01s 1014; Adams Express, 65X a
e6%; Wells-Fargo Express, 40 a 46; American Rx-
press, 42ss bid; United States Express 37H a
SsA; Pacific NAH, 42S 42X; New York Cen.
trail consolidated, 90 a 92A; do. scrip, s7X a
SIX; Erie 22X 23h; Harlem, 1872 bid
Reading. 96H 9824; Michigan Central llsX bid;
Lake Shore, 921a a 92X; Illinois Central 135X a
1857; Cleveland and Plttsburg, 1867 bld Chicago
and Northwestern, s21S bid; do preferred, s7,I
bid Cleveland, Columbus, Cincinnati and Indian.
apolis,- 7s% bid; New Jersey Central, LOG; Rock
Island, 1854 1l57s; Milwaukee and st. Paul. 6s,l /;
do. preferred, S0I 81: Toledo. Wabash and West
ern, 52H 52H; do. preferred, so; Fort Wayne,
94H bid; Chicago and Alton, 1l2l 49, do. prefer
red. 112H bid; OHIO and Mississippi S3I a 33y.;
Delaware Lackawanna and Western, 1O4Is 1O4zS;
Morris and Essex SO s9,a; Hannibal and St. Jo-
Seph, 112a lib; do. preferred ia bid Columbus,
Chicago and Indiana Central. 171a TX.
TIE EXTREME FLUCTUATIONS.
The effect upon prices OF the movement above re-
ferred to Will be seen IN the following table, showing
the extreme fluctuations Of the day.
Ht0hest Le,ces,.