The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-07-20
d Exchange Bank were as fOllOws:--
II steamers took out 81
SOUTHERN SECURITIES DULL,

SOUTHERN SECURITIES DULL.
The Southern list was neglected outside Of the
Tennessees and MissOurs, which, rs for some weeks
| past, have been the only features. The former
| touched 72,s and the latter 991l The old North
| Caronas showed exceptional weakness and the
new bonds more strength-a result Of she impress
sion That the state Convention VIII recognize the
| claims oil botn, whatever treatment may be given
the special tax issues. The chief quotations at the
close weie:-Tennessce eX coupon, 72i4 721s; do
new, " Il ~; Virginia, ex coupon, Go 68x; do
new, 12la '3; Georgia skies, 81 SO; do sevens,
% 041a North Carolina eX coupon, A 45ja; do.
new, 26 q ~; 40. special tax. 20 20t;; Missouri
skies, 9Sai IA 99a do Hannibal ana 81. Joseph, e615
a 971.; Louisiana SKIES ds 50; do. evee skies, II
a 70; do eignts, 81 90 Alabama ives, 81 70; dc.
eiahts 9S a 100; south Carolina SKIES, II "a SO; do.
new. January ana July, 5sA so; do. do, April and
October, 6l o.; Arkansas skies, 81 So; 90. scvens
So q Go.
STOCKS ACTIVE, WEAK AND LOWER.
The stock markeE opened with very weak feeling
as a consequence Of The exposure made In the
HERALD this morning Of the extensive interests mad
by several Of the banks ana their directors In the
high-prced and inflated shares forming the staple
of speculation on the stock Exchange, and, indeed,
Tor a short time had every appearance OF drifting
into panic. The first sudden decline, winch threat
eDed 10 assume serious proportions, stayed and
rallied only by the desperate efforts oil Tile clquei,
who hurried their brokers into the Board,
with orders TO buy until the decentralization
should he at an end. Later in the day the action OF
Secretary Boutwell, was taken TO mean that he has
given up tue last hope OF noatng his loan, and
VIII not therefore, he at any further pains to pre-
serve the extreme ease in the money market which
he was the original auth0r OF in his ambitious anxery
t. make ponca capital before the country 10y fund
ing the debt at lower rate Of interest and TO ac-
coplish winch he has reduced his Treasury balance
low ebb OF So 900 currency and S64 600 900
gold. When last winter the cques. knowing the
intentions o Mr.. Boutwell,, were buying stocks and
inducing the public 10 sell we gave due warning.
Lately, when the cques. l0rcseeing the failure OF Mr..
boutwells funding plans, and Tearing his abandon
ment OF the money market, began selling, we again
warned the public OF the real situation OF affairs. In
fact so widespread mas become the knowledge OF
the exact position which these ciiques placed
that they appear to have given up the idea OF In
ducing the public 10 buy aud are now resortng
10 the desperate game OF working up short
interest. IN the twisting OF which they hope
10 relieve themselves OF their burden, forgettIn
thar the impccnniOns "hears''-made so by the ria.
Ing market OF last sprIng-will simply fail upon
their contracts should "curnering'' operation be
attempted. The decline IN prices to-day ranged
atoms OF the leading stocks are shown III the
table, OHIO aud Mississippi being the brilliant ex-
cepIcn TO the general downward current, and
advancing triumphantly as The rest OF the market
declned:-