The New York herald., 1872-11-30
YORK HERALD SATURDAY NOVEMBER 80 SHEET

nrmsr. tho Virginia consols sold 1t So, which
continued 70 10 offered for more. and the new
south Carolina October bonds at 80. the July
issues being better, at "a FAX. The
Old North Carolinas are growing scarcer
and were held this evening at ss. The
following were the closing quotations -
Tennessee, ex coupon. 75st 70; do new. 7sA
70; Virginia, ex coupon A . 81: do. registered
stock old, 80 a.; do, skies. consolidated bonds,
SIS 65x; do, skies. deferred scrip, 15A a II;
Georgia skies, 70 80; do. seyens, 81 q 90; North
Carolina, ex coupon, SO o 3s; do. to North Carolina
Railroad, Al so; do, funding, 1885, II 80; do.
do, 1858, 25 Is; do, new, 81 80; do. special
tax, IL 16; Missouri skies, es5s 96; co., Han
nibal and st. Joseph. 91h a921f; Louisiana skies,
IS 6S; do, new, so GO; do. levee axes, SO 90;
do. do. eights 20 80; do do. eghts, 1885, 10 so;
Alabama fves, So 81; do. eights, SO IS; South
Carolina skies, so So; do. new, January and
July. "a 24S; do. do, August and october. 20
80; Arkansas skies, funded, 40 As.
GOVERNMENTS RAMPANT.
The government bond market was buoyant and
prices generally advanced despite the lower price
OF gold so that, in estimating the days improve.
ment it Is necessary to add to the actual advance
in quotations the amount OF the decline in goid
Thus the '6T's have risen to 1l6I, against 1l5s on
Wednesday, while gold has gone of from 112A
1923 to ll2H 1l2t, taking the last quotations OF
the two markets on both days. The '67's are
therefore " per cent higher than they were on
Wednesday. which fact Is more patent in the Lon
don quotations than In our own, owing to foreign
prices being based upon
A COIN STANDARD
OF value. The '62's and older bonds which are
nearer the chance of early redemption at par in
gold, follow the fluctuations OF gold more closely,
so much as to show but tritling reduction from
previous quotations. The currency skies have
risen to 1l4I. The following were the closing
prices :-United States currency skies, LA l144;
do do, 1881, registered, l16 116A; do. do, cou-
pom, 1861 1167s; do fve-twenties, registered,
May and November, 1l2x 1lS; do. do, 1852, cou-
p0n do, 1928 113: do. do, 1864, do. do, 112A
113; do de-, 1896, do. do, 113 113k do. dO 1857,
registered January and July, 1861 115H; do. do,
1865. coupon, DO, ll5ls 1l5X; do. do, 1857 l1e
116H do do, 1868, 115ss 115X; do ten-iortes
registered. 1Osas 1Osss; 10 do. coupon, 1857
10saS; do aves Of 1881, registered, 1904 10; do
do. coupon, 109s4 ITO.
STOCKS rEvERIsH AND STRONG.
The nrst response OF the stock market to the
news of the reduction of the Bank Of England rate
Of discounts contingency on which had been
based SO many hopes OF an active advance in
stocks-was quite a disappointment to the street
in the first hour or SO of business, during which
period prices slowly declined, imparting weak
appearance to the market, and greatly discourag-
ing the outside speculation for rise. This doubt
less was result OF the clique strategy, by which
stocks are now so largely controlled, and was part
OF their programme. When, however, the ciques
gave over the effort to depress and sought to buy.
the market rapidly advanced. so that In the
BACKING AND FILLING
OF these professional operators 1t was subjected to
intermittent 1ts OF strength and weakness. ac-
cording as it was led in one moment by the
BUOYANcY OF LAKE SHORE
or depressed the next by the active weakness Of
Pacific Mail. AS whole the result was the
achievement Of a standard OF higher quotations,
the advance for the general list ranging from Il to
per cent, outside Of the two features just speci
fed, and others which were the subject OF wider
fluctuations. The pool IN Lake Shore are the
Cark-Schell party and Jay Could whose interests
have been closely affiliated ever since their allt
ance in the Northwestern "corner." Lake Shore
was, in fact, sold out to a large extent by the
Clark party with view to get
MONEY TO HELP JAY GOULD
In that famous "corner.u The earnings OF Lake
Shore are likely to aggregate $17,oOO,oOO for the
current year. and as the dividend OF per cent will
be due Within the next two months the present
price to point at which 1t will stand the removal
of the dividend and continue to look very cheap for
an per cent dividend-paying stock when the
dividend IS taken of. The price to-day ranged as
high as 05-an advance OF 11S per cent. New York
Central sympathizing with thu general activity in
the "vanderbilt'' securities ran up to 957s and
Union Pacific and c. G. and l. G., which are like
wise, definitely or indefinitely, classed in
THE SAME CATEGORY,
were equally emulous OF advancement and under
went generous Improvement. The exception to
the general DRIFT and perslstently weak spot OF
the market, was Pacific MAIL which was freely
sold by the StocAwel party and lowered from SO to
S4ls, with view to exciting a speculation for the
decline. 1t is also said that the Jay Gould men,
bers OF this clique have "gone cunning" for the
"long y stock which Henry n. Smith is reputed to
be holding, to the extent OF about $4,000 shares,
and which was bought by the latter few months
ago in compromise with the Stockwel party.
who had him heavily "short " Of Pacific Mail and
could have forced him to settle at most
DISASTROUS LOSS,
| but preferred to let him cover on the condition
that he went 'long' So 900 shares, half the profits
OF future rise to go to Stockwel and all the
losses to be borne by Stockwel should Smith carry
the stock six months SO, at least the legend runs.
The present movement is said to have for Its object
the depression OF the stock to point which will
compel Smith to sell out the $1,000 shares owing to
the exhaustion of his margins, whercupon Stock
wells guarantee will expire by reason OF Smiths
failure to hold the stock six months, as agreed
upon in the terms OF their mutual contract Of
speculation. The other weak feature was Erie,
which opened at 53sl, but went or to SO, owing to
sales for account of
THE LONDON MARKET.
which, though higher than on Wednesday, was still
below the market here There were active deal
ings in Erie pending these fluctuations, and the
ubiquitous Jay Gould was also reported to be
annrnt,nr II, this stock dnnrna asinn ~ nnrnoaoIu