The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-06-21

l.Ul
currency oaiances.... ................. l,l4S,S12
Up to the close Of business this evening the en-
gagements OF specie for to-morrow's steamer were
quite moderate, hardly exceeding 100000.
GOVERNMENTS IRREGULAR
The government list opened quite b0lyant and
prices advanced fraction all rOund but the i'm
prOvement induced realization, and toward the
close reaction occurred In Of the more specu-
lative issues, the market closing strong, however, at
The new scale OF quotations, which, In final street
dealings. left OF as rolows:-Unted States currency
sixes ll5 1l5A; do do, 1881, registered, 1l414
HAY; do. do, coupon, 117% 117a4; do 1ve-twen-
ties. registered, May and November, ll2k a 1928;
do. do, 1852, coupon, do, 112s 112s; do. do 1854
do. do, 1121a 1l2s; do do, 1885, do. do Il2k a
ll2S; do. do, registered. January and July, 11ls
lily; do. do, 1855, coupon, do. 114sl a 1142s;
do. do. 1867, do. do, 11i2s 1l5; do. do. 1868
do. do, l15 a ll5,; do ten-forties, registered,
1l0H 110s; do. do, coupon, 1l07s ll01a.
STOCKS DULL, HEAVY AND LOWER.
With two exceptions-to which special reference
will be made presently the stock market was duh
and lower, with o heavy tone, Offering, in this
respect, a striking contrast to the brilliant move
ment in Rock Island, one of the exceptions alluded
to. The business OF the day, such as 1t was was
diversified by Two exciting incidents-a sudden fan
OF ten per cent In Consolidation Coal and
an advance Of five per cent in Rock Island.
The coal stocks have for some months
past been unusually prominent on the Stock Ex-
change Ia consequence OF the manIpulations OF a
clique organized to unite the interests OF several
rival Maryland companies and market the CONSOLE
dated Stock at high ngures-tne long strike in the
pennsylvania regions afrording a sufficient pretext
for the alleged enhanced value thereof ssCon.
solidation coar' Is already q consolidation
Of number OF small companies, but the
of IN hnv
tended. The pool having been organized the price
OF consolidation was advanced to SAX as against
20 rs last January, but for a few weeks 'sume-
thing has been going wrong. AS usual In such
some OF the pool sold out upon the Others and
the discovery Of this treachery produced ebreakn
to-day from 81 to 40I. Maryland Coal, which had
been carried up to Al dropped to SO, and the only
quotation for American Coal was 81 bid and 90
asked This decline parayzed the rest OF the mar
ket and occasioned bolt even IN Rock Island
which, starting out at l26 fell or to 1851, the
eject being operative on the general list and
rendering 1t dun and heavy, when, later In the
day, Rock Island was skyrocketed up to 1907 This
latter sharp rise Is the direct result OF q CLIQUE
operation, and perhaps can be carried indefinitely
higher as the clique are said to control have tied
up all the stock requisite to secure them against any
outside influence. At time 1t was reported that the
leader OF the Erie party, who was reputed s.shortr
OF 10000 shares, had settled at 1870. Hereupon
the price fell back to l2S, but was again advanced
to 1870, and kept for the remainder OF the day. that
price being bid for the stock deliverable in the
usual way. while large amounts were being offered
Mt l25 seller, sixty, and at 1928 seller, thirty days.
The whole movement In this stock has been very
finely managed, although doubts are freely ex.
pressed as 70 Its final success for the reason that
the OUTSIDE public are not buying It, and the clique
In sqeezing the ''shorssn are compelled to buy
enormous quantities Of "long" stock from the
outsiders, who are quietly taking their profits
rather than risk the chance OF an eventu nasco on
the part OF the clique In this way they are being
gradually saddled with all the stock In the market.
For every hundred shares OF short stock which they
force the covering Of they are compelled to buy
thousand shares OF long STOCK at what are evidently
very high rates. As the public are not buying
stocks Just now. and as the clique have frightened
the sbears" INTO doing nothing, the future OF this
speculation In Rock Island presents curious prob
lem as TO what they viii do with their
load. In Consolidation Coal when the public
stopped buying the clique had to deal with
each other. II will be remembered that care mas
been taken In this column to omit all reference to
the numerous rumors OF q scrip dividend on Rock
Island, which were freely circulated for effect
upon the market. Refusal has been given to the
publication OF these reports for the reason that they
are dsproved by the TACT that the constitution OF
Illinois. as ratified by the people last summer, for
bids the declaration OF any further railway stock or
scrip dividends, and therefore limits the possible
scrip dividend on Rock Island to 80 much as will
increase Its present to its authorized capital stock
which would be about 81 per cent.
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest
prices OF the principal stocks during the day.
Highest Lotcest.