The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-06-12

THE STOCK MARKET.

The stock market was feverish and excited in the
earlier dealings OF the week, Monday opening with
heavy "breakn all around, and pane beng prevent
Ell only by the the Short interest and by the
purchases OF the ciques who, II the cannot get the
market any higher, are unwilling to see II decline
before they have fully marketed their stocks. The
cqucs notice with much chagrin that the outside
public demand tor stocks at present prices Is
entirely over. The public are more educated
and intelligent than they used to be with
reference to stock speculation They are
beginning TO act with Prudence and
caution. few years ago the ciques mad little df-
fculty In taking hold OF nigh market aud bringing
the public in 10 buy as the market advanced. But
all this Is changed. 'Buy stocks when they are low
and sell them when they are high is precept
more practically observed than 1t used to be- TINS
explains the almost utter stagnation into which the
market has been plunged.
GOVERNMENT BONDS.
The government bond market enjoyed rather
more than its share or the dulness that was gene.
rally prevalent on the Stock chang. II now
goes on record that at one session OF the govern
ment department the past week not u singc trans.
action occurred, and the presiding officer went
through the call almost without interruption, and
then only when the bidding or asking prices
changed by difference OF an eighth per cent. The
market has, however, very firm undertone, and
lative movement Is inconsidcrable The following
were the closing sidewalk quotations on saturday
evening:-United States currency SKIES 115T 1l56;
do. DO, 1884, registered, ia 114ii; do do, coupon
1l77s 1l7h; do. fve-twentes, registered, May and
November, liz 1927; do do, 1862 coupon, do,
liz l12a do. do, 1864. do d. liz 1I2A; do do,
1865. DO do liz ll24; do. do, registered January
and July l10js Ill; do do, 1861 coupon, do 114x
114,s; do do, 1867, do. do. 1I4I a ll4.; do.
do, 1861 do do 1144 max; do. teIfortles regis
tered, 1925 1879; do. do, coupon, 1C97s q no.
THE SOUTHERN STATE BONDS.
In the Southern list there was moderate bust.
ness which was generally in sellers favor, tie
transactions occurring rather through fresh inquiry
Tor bonds than through any desie to realize on the
part OF holders The steady reduction Of the debt of
Tennessee by the exchange Of the railway stock and
mortgages IN the Treasury for outstanding bouds or
the State has advanced quotations a steady aver
age OF about 7ih. The recurring promptness Of
South Carolina in meeting her July interest rs well
as IN Offering TO redeem some OF the principal OF her
debt has Kept the new July bsnds-the issues more
indicative OF the marget-at range OF 63X O o.. !
The North Carolnas have been quiet.
THE BANK STATEMENT.
The weekly statement OF the associated banks Is |
showing loss OF over million and |
hall dollars in legal reserve, which amount Is fully
taken away from the surplus reserve owing to q |
further but limited increase In liabilities. The |
banks do not appear TO have been apprehenslve, |
however, OF any Ill results to follow this loss OF re.
sources, for they have expanded over two millions
In itep OF loans. The loss IN specie Is smaller
than was anticipated taking into consideration the
TACT that the government sold only one million OF
gold against customs receipts OF S2,679, 1856. and
specie export OF sl.52O ,56s for the week. The dis
crepancy Is dincult 10 explain unless on the theory
that the clgues on the Stock Exchange have In some
manner a1ected The specie item so TO prevent the
II effects upon speculation Of q heavy decrease.