The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1870-01-18
THE STATE BoNDs.-Tbe New York

The STATE BoNDs.-Tbe New York
Herald, of January IA, says:
In Southern, securities, the most re-
cent feature has been the speculation in
Sonth Cardinals, the action of the Legis-
lature in making the payment of the IN
terest in coin, leading to sharp advance,
which was oombated by the professional
"bears" of the street, who always operate
upon the principle that rise must be
followed by fall. Latterly, however,
this 'short" interest has been largely
closed, and new stimulant appears in
the demand for the bonds on the part of
insurance companies having agencies in
South Carolina, who, to retain which,
must, perforce, give security by the de-
posit Of bonds with the Comptroller
The law is impartial in requiring all
companies. whether belonging to the
State or not. to make such deposit of
collaterals, the amount for each life in
surance company being $50, 900. and for
each other company 100000. All the
home companies and most of the outside
companies will comply, the bonds being
not Improbable investment, rs they
carry six per cent. gold interest, while
the Legislature has, by action which
cannot, for parliamentary reasons, be re-
considered, announced itself as unaltera-
bly, opposed to granting any pecuniary
aid or assistance to any railroad scheme
at present. In the words OF the official
record, the vote had upon the question
"effectually disposes, for this session of
the General Assembly, of all legislation
for assistance to railroads." South Caro-
lima, in the matter of her State debt, has
set an example which is n bright and
shining one i'll contrast to tho prohigacy
and wanton decentralization of Tennessee
and North Carolina Before the war, her
bonds sold rs high as l25. In thp Chi
valric determination to pay tho interest
In coin, measure originating with Go
vernon Scott, she is TO have IN imitator
in the Empire State, if the suggestions
OF Governor Hoffman are carried out.
To-day, there was n sharp decline in the
new North Carolinn's, which sold down
to 22,., but then reacted and closed
strong, Mt 23ia. The Tennessees were
market heavy, the South Carolina's 8 being
offered ut 7S, at the last board. 1t will
be interesting to the North Carolina
bond-holders to learn that the people in
that State are holding local meetings at
County Court Houses. in advocacy Of
the reputation of such bonds as have
been issued by what they term 'carpet-
bag" Legislatures.
The New York Commercial Adcertise,',
of the 18th, in its money article. says:
New South Carolina skies continue
firm, under efforts to buy for covering
''short" sales and for account of tho in
surance companies. This morning 7Si !.
cents was bid, bnt the bonds were held
at 81 cents.
The secret negotiations of our Govern
ment with Spain nre purported to be
given by Washington correspondent of
the New York Hernd who asserts that.
in September Minister Sickles was di-
rected. by Secretary Fish, to tender to
the Spanish Government the "fricndly
offices" OF the United States. in the hope
of bringing about an amicable under
standing between the contending parties,
and that he at once communicated with
Slivela, the Minister of Foreign Affairs
for Spain, formally rendering the good
offices OF our Government, which was
received, on tho part of Spain, with
strong expressions of thanks. -Four
propositions, as IL basis for the settle
mont OF the difficulties between Spain
and her colonies, was then drawn up, as
follows: First, recognition of Cuban
independence; second, indemnifcation
to Spain, to be paid from the customs
revenue of the island; third, abolition of
slavery; fourth. cessation of hostilities,
pending tho settlement on the above
terms. After good deal of delay,
during which time the Republican
emente had occurred, rendering the po-
litical condition Of Spain decidedly
alarming, the late Secretary Rawlins
induced the Government to instruct
Sickles to inform the Spanish Govern
ment that unless Spain should consent
to sell Cuba to tho United States within
ten days. we would be constrained to
acknowledge the independent republic
of Cuba. Silvela replied to the PROPOSE
ton, and offered substitute to the
original proposition. which was refused,
and the ''good offices" rendered by
Minister Sickles wero withdrawn. The
correspondent concludes his revelations
with the following remark: "This effect
ually disposes of the oft-repeated asser-
tion that Spain rejected our offer of
mediation. Tho fact is, we never
offered to mediate, so to speak. We
only rendered onr good offices, and
withdrew them. of our own volition."
TIE JERSEY "BAnEs IN THE WooD"-
On New Years Day three children, sons
of Mr.. Joseph Wyhle. n resnectahla