The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-11-07

Most of the New York papers, of Saturday,
offer some explanation, in their money arti-
cles, OF the 'break" in South Carolina bonds.
1t will be noticed that Governor Scott promises
that the January interest shall be punctually
paid:
What the Tribune Says.
In State bonds there has been pretty fair
trade. The chief activity, however, was In
South Carollnas, new January and July bonds,
which declined from 81 yesterday TO S2l to-
The late depression In these bonds Is due par
TALLY to the large sales or bonds hypothecated
on loan, and which the borrower was unable
to lift.
What the Herald Says.
The Southern list was generally dull and
Quiet. The new South Carolinas were excep.
tionally active and weak, a sudden pressure
of sales at the morning board carrying the
price of the July issues down to 32l. Subse-
quently the price recovered TO 354. The sales
referred to were for the account OF parties who
had pledged the bonds as colaterals and could
not redeem them, the owners being unable to
change the place of hypothecaton because Of
sensational rumors as to an enormous over
Issue of bonds.
What tho Times Says.
At the Stock Exchange there was serious
break in South Carolina bonds, following up
the very weak market of yesterday. The price
broke to 80 per cent. on the panic report that
an excessive issue Of bonds had been made to
meet the emergencies of the State, but later in
the day there was a recovery to 35ta353 per
cent.
What the Sun Says.
There was quite furry of excitement this
morning caused by sharp decline In the
South Carolina gold 6s State bonds, the Janu.
ary and July Issues having been the principal
point OF bear attack, and under the influence
OF heavy sales the price was forced down to
324, decline of per cent. as compared with
yesterdays transactions. A rumor of over.
issue was freely circulated In street circles,
which caused quite stampede among holders
who had hypothecated the bonds at much
higher figures, and whose margins had been
absorbed. The State officials, as also the
finance committee, are at present In this city,
and the want of harmony In the Management
of the finances of that State has been for some
time well known In business circles It is the
duty Of these gentlemen to at once apprise
the Investing public of the exact condition OF
its finances, and relieve holders of the suspi.
cion that its securities hive been improperly
employed for personal profit.
What the Standard Says.
In State bonds the feature was the "break"
IN SOutQ CarOlnaS, Inc price naVlug dropped
on pressure of sales from 36} to 32l for new,
January and July issues. At first there was a
report OF an over issue of bonds, and from
official sources It was learned that certain
parties were trying to damage the credit Of
the State. In the late dealings there was a
recovery to 35}. The April and October issues
we're quoted at the board at 3la33.
What the Daily Bulletin Says.
In Southern State securities new South Car.
olinas have been the feature. In the morning
these bonds January and JULY sold down to
32l, but afterward reacted. The transactions.
in these bonds now partake so much of
speculative character, that 1t Is impossible to
account for the fluctuations. Political affairs
in the State are, as 1t Is well known, in very
unsatisfactory condition, and it is thought this
has been made pretext for speculative move
ments. One story we heard to-day was that
Charleston parties had been forced to sell
about $500, 900, that 1t was known they would
be forced to sell, and that the price was broken
down 30 as to get the bonds cheap.
What the Evening Post Says.
In Southern State bonds the features at the