The New York herald., 1871-07-11

realization which was doubtless caught from the
Stock Exchange generally, for while the lower ruling
OF gold was assigned the reason OF lower prices
In bonds such influence ought TO have been over
come by the further advance Of the London
quotations, which show a degree Of buoyancy
In the foreign market rather notterlng to
people on This side OF the Atlantic. The follow
Ing the closing street prices this evening,
the market leaving Oh steady:-United states
currency skies, ll4h a 1l4<; do. 1881, regis.
tered, 115 a 115x; do. do, coupon, 115 115h;
do fve-twenties registered, May and November,
1l3s Il3N; do do, 1882, coupon, do, 114S
l147s; do. do 1854, do. do 1881 ll3ss; do. do.
1863 do do, 11SA ll37s; DO. do, registered, jan
uary and July. 1929 l12i; do. DO, 1885, coupon. do,
1l27i 1l2ss; do do 1857, do. do, 1l2>s 112's; do
do, ls6S do. do ll2s ll21s do ten-forties, regis
tered, 1ll}s 112; do. do, coupon, 112H ll2h.
STOCKS WEAK AND LOWER.
The stock market was weak, In sympathy with O
further decline in Ohio and Mississippi, which fell
to AZ. The causes of the decline in this stock were
carefully given to the public by the HERALD last
week, ana need no further explanation. The rest or
the market endeavored to cut loose from ONO ana
Mississippi but there were m ore sellers than buyers
at the morning prices, and almost the entire list
gave way before the close OF business, the fnal
prices on the dewalk after the adjournment OF the
Stock Exchange being In most instances the lowest
of the day
TIE OLD. OLD sToRY-A NEW ISSUE OF ROCK
ISLAND.
The following letter was read at the morning ses-
sion of the Board:-
CHICAGO, ROCK ISLAND AND PACIFIC R. R. Co.,
OFFICE SnM W Msk4n yonk July 49, is
To TIE PRESIDENT OF THE NEW YORK STOCK Ex'
DEAR SiR-In accordance with the rules Of tho
New York stock Exchange you are hereby notified
that after thirty days this company Will issue twenty
Thousand co O00 shares of additional capital STOCK.
The proceeds OF such additional shares are re.
quired TO furnish. additional equipment to enable
this company to operate the Chicago and South
western Railway, now nearly completed, and to ex.
tend the Washington branch of TINS company's road
to he oma osna OF 1o%
JOHN +. TRACY, President
In other words, the Rock Island Company intend
increasing their canital stock by the addition OF
$4,000 600 to the present amount, and hereby hangs
query. The authorized capital OF the company is
limited to $1s o0o and the new constitution OF
Illinois forbus any more "watcrng." But the ex.
,snr capital is $1,000 OOo 1t had been $leoOO,ooo
lust previous to October 1870. when, as may be re-
membered, a stock dividend Of one share to
sixteen was declared, the stockholders having
the privilege VI taking the new stock at
par. How, therefore, can the company issue
two millions when under their charter they may
issue only million to complete their authorized
capital? IL IS not stated in what way the new stock
Ia to be DISPOSED OF, though the lntlulatlon ID
shrewdly mace that "a place" has been already
made-another gleam OF light, by the way, on the
recent disastrous bursting Of the Rock Island "cor-
neru The stock has been lending 'rat" for
some time past, and did not Iall any I'M
portant amount to-day after the above let
ter was read. The scarcity Of the stock
Is readily expainable by the necessities OF The
"rng'' TO make deliveries, and the strength Of the
market was due, doubtless, to the orders OF tho
'.rng, to purchase for covering speculative sales
made upon foreknowledge OF the new issue. Had
not the clique been buying the stock after the letter
was read it would probably have tumoed to go LOO.
HIGHEST AND LOWEST PRICES.
The Following table shows the highest and lowest
.,x,.o, or ,,,o c,nal stocta dnr,nu the day.-