The New York herald., 1870-05-17

closing strong at ll4. The of the market Is
shown In the table,
ia M;,.......... iias s:soP M......... M.... ii4x
liA3 A. M........ Il41x 3P.M............ ll4k
?. ....."...... ll4s 4:45 P. M.......... ll41s
1880 r. M......... Il4al $50 p. M. ..Il42 a 1la5s
Holders OF gold paid two to i've per cent 10 have
their balances carried. The operations OF the Gold
Exchange were as follows:-
uoiu Dhdiices. So2,9IZ
currency Daiances... e97,72l
MONEY EASY
The prominent feature Of the beginning Of the
weekly business was The ease IN the money market
Borrowers on prime colla,erals were freely accom-
m0dated at three to four per cent and the usual
miscellaneous stock collaterais at four TO Ave. A
number OF bank officers were on the street to-day
endeavorng to place large amounts at four per cent
Accommodation at bank is freely had by good Gus.
toners, while In the open market prime commercial
paper is current at six TO SIX and half per cent.
FOREIGN EXCHANGE
was firm on the basis OF 109x for prime bankers
sixty day, and 1lo,4 for sight sterling bills.
GOVERNMENTS STEADY AND DULL.
The government market was dull and steady the
lower ruling OF gold In the early part or the day
seeming to have little influence while the later adj
vance simply strengthened prices, which closed on
1l216 1l2a do skies, 1884, registered, III li7}l;
do. do, coupon, 117H 117l; do. fve.twenties
registered, May and November, lll1s u NIX; do.
do, 1852 coupon do, 1l2S 112la; do. do, 1864.
do. do, 111x NIX; do. do, 1886, do do, 111A
112; do. DO, 1865, DO, January and July, 1141
max; do. do, 1867, do do, 1l44 1141s; do. do.
1868, do. do, 114h 1141; do. ten-forties, regis.
tered, lo7 1o1js; do. do coupon. 1os 10sA.
SOUTHERN SECURITIES DULL AND STRONG.
The agent Of the State Of South Carolina IN this
city gives notice that in accordance with instructions
received from the Commissioners OF the Sinking
Fund OF that State he win receive proposals for the
sale OF 100000 OF South Carolina bonds or stock,
this action being the first step toward the gradual
extinction OF the State debt which in all is about
50. 100000. The bonds in the market at the stock
Exchange to-day were firm at improved prices The
Tennessees were lower and the Old North Carolinas
strong. The following were the closing prices OF the
Southern list:-Tennessec, ex COUPON 6OJs q COZ;
do, new 66h 66X; do, 1ve per cent, IS A.; vir.
gfna, ex coupon so 69Is; do, new, 6sX 69s; do,
registered stock, 55 SO; do, registered 1885, 90
81; do do, 1867, 81 o 60; Georgia sixes. s7a SO;
do. sevens, 96 q 90; do sevens, interest payable
In Georgia, 81 92; North Carolina, ex coupon, 40
4sK; do, new, 24x 25 Missouri skies, "a q
e4h; do. Hannibal and st. Joseph, 9s,l a e3X;
Louisiana skies, rs q 70; do sevens, 7s q 80; do.
eghts, 9l a 92; Alabama eights, 1o1 a 1o2; do
nves 7Aa 49, do. skies, sterling 90 s6; South Caro-
lima sixes e3 s4 DO, new. So s39; do registered
stock, e6 90; City OF Memphis skies, 81 50; City
OF Atlanta eights, 50 s6; City OF Savannah sevens
ss 90; City OF New Orleans consols, 70 II; do.
do. railroad issue, 73 a. Mobile and Ohio ster-
ling, ~ 80; do. eights, II 7S; Mississippi Central
Railroad first mortgage "A 10; do. second do, 60
49, Memphis and Charleston 1rst mortgage, IS 9O
do. second do, IS so; do stock, 43 As; Green
vile and Columbia noaro~d, s'se~~.tnad. II q
Macon and Brunswick, guaranteed by Georgia, SO
q s3; Arkansas sevens, 70 a76.
THE STOCK MARKET DULL.
Tne stock market was extremaly dull but IN the
main strong The dealings in Ohio and Mississippi,
the Vanderbilt securities and Reading, constituted
the bill Of the days business The Improvement In
prices led on with an advance In Ohio and Missls-
sippi arising out Of q covering movement on the
part OF the shorts, who are reputed to have sold
from ten to forty thousand shares In the decline last
week. while buoyant feeling was communi.
Gated by the advertisement OF the company
Offering to pay the interest as usual
on the preferred stock. Pittsburg rose
to 107k on all increase OF $s3l3 in the earnings OF
the road for the nrst week In May. Reading, which
is to take its place the list side by side with ILL.,
nois Central and the other ten per cent dividend.
paying stocks, to 1047s, and New YORK Central
TO 102 The market dull, but very strong the
prices prevailing at the close Of street business the
proposal In the Tax bill to repeal taxation gross
receipts being regarded by the 'busn the signal
for fresh upward turn In railway values particu
larry. Indeed, the effect OF the news would have
been more decided had not the advance IN prices
brought out sales OF ong" stock held by parties who
kept II through the "break OF Thursday, and were
now content to get out ''eyen.n The fresh buyers
hua ad wit nf no
"shortr interest The covering movement In Ohio
and Mississippi s an instance OF the danger OF spec-
lative sales In time OF easy money. The bulls -
under such circumstances, have all the advantage.
As to relative endurance, it will be found that
"bullr is more tenacious than ''bear"-the physi-
ology OF the two animals to the contrary notwith.
| standing. The recent heavlness In Pacific Mail Is
due to report that the directors at their meeting
next Wednesday, will be under the necessity OF pre-
senting the public with an unfavorable exhibit Of the
| company's affairs Doubtless the 'ringn are again
"short" OF the stock The following were the clos.
! ing prices at the last session Of the Stock Ex-
| change:-Canton, 7oA a TN; Consolidation Coal,
%; Western Union, 33a a 3sH; Quicksilver, 81; 90.
! preferred, II; Mariposa, III sk; do. preferred,
| Tx bid; Pacific Mail, aeX SsZ; Boston Water
| Power, TX 1Sk; Adams Express sc 66,f; Wells
! Fargo Express, 15k 10; American Express, AZ a
| AN; United States Express, As 45K; Mer-
chants Union Express sh bid; New York
Central consolidated. !1olA 1ol,f; do. scrip, 81
q ok; Harlem, 144 o las; do. preferred, las bid;
Erie, 2Sx 2azi; do preferred, Al so; Reading,
| Io4X 1o4I; Michigan Central, 12sk a 1875; Lake
Shore, 09K a ss5l; Illinois Central 141K a 1421l;
Cleveland ana Pttsburg. losX loe,<; Chicago and
Northwestern, soX Q 81; do. PREFERRED 00k so1I;
Cleveland, Columbus and Cincinnati, 70 80; Rock
Island, 12lx a l2lh; Milwaukee and 81. Paul. co..
a oeK; do. preferred, SIX SIX; Toledo and ws-
bash, Sc 66k; Fort Wayne, OAK 94%;
| Alton and Terre Haute, 80; Ohio and Mis-.
| slssippl, 3sk q ssh; do preferred. 75k 76K
Delaware and Lackawanna, ITO Ill; New Jersey
Central, lo94a 1oss; Chicago and Alton. lib 1145
do. preferred, ll5; Morris and Essex, o2>1 92x;
Hannibal and st. Joseph, 1llk q 11s; do. pre-
ferred, 1lo1s lloX; Iron Mountain, 46a@ bid; Du-
buque and Sioux City, loa o los; Boston, Hartford
and Eric, ~ 5x; Columbus Chicago and In
diana Central. lsX 1SX.