The New York herald., 1872-12-28

sf,s H. 81. s sss,sI = e ps;s 81
Chic Nv II si.......S CEDAR Hinn istm. &
SOUTHERN SECURITIES QUIET.
The Southern State bonds were quiet and dull
with for what little was doing, an irregular move
ment In prices. The Tennessees were pressed for
sale at further decline aud Virginia consols were
weak. The new South Carolina July bonds fell on
to % and optinued TO be offered ut that price dur
ing the last Board. The Missouri skies were nrmer
and North Carolina Railroad skies sold at CO.
Funded sixesof Arkansas sold ct 40. The follow
ing were tho
CLOSING PRICES.
Tennessee ex-coupon, 7s14 TON; do, new, 7sA
79H Virginia ex-coupon, 45 q so; do, registered
stock, Old, 81 q AZ; do. sixes consolidated bonds
55H q 561E; do. sixes deferred scrip, 15A l6;
Georgia skies 70 a 80; do. sevens, 81 Q 90; North
Carolina ex coupon, 33 35; do. to North Carolina
Railroad, SO a 62; do., funding. 1866, rs 28; do
do, lses "a 2S; do, new, 10 2Oh; do,
special tax, 10 Q IA; Missouri skies, 95 q
a51s; Hannibal and st. Joseph, % 90;
Louisiana skies, SO 56; do. new so IS; do. levee
skies, 90 6oi do. do. eghts, IS . 10; do. do. do
1875, 65 70; Alabama fives, 66 90; do. eights 80
81; South Carolina sixes SO q 58; do new, Janu-
airy and July, 22h %; do. do, April and October
rs 25}s; Arkansas sixes funded, 40 a 49,
GOVERNMENTS STRONG.
The strength OF the government bond market
was surprising contrast to the condition Of the
money market and reveals the inherent frmness
OF these securities 1t is quite probable OF course
that good deal OF the buying inst now is for cor
poratlons and capitalists who wish to avoid State
and local taxation In the year 1878 by converting
their money into governments, which will enable
them to make affldavit that ON the 3lst Of Decem-
ber, 1872, their wealth consisted of these non-tax
able securities; but there is also quiet absorp-
tion OF them for investment particularly the issues
not subject to early redemption. Thus the cur
rency skies were In steady demand and rose to
lls1l, exclusive OF the January interest. at which
rate they pay less than . per cent interest, the
SECRET OF THEIR POPULARITY
being their duration an investment, the gov
ernment having no power to redeem them under
about twenty-five years. We wish the members OF
Congress would remember this little fact and in
struct Mr.. Boutwell, as to the proper way OF re-
funding the DEBT. The following were the closing
quotations United States currency sixes 113. u
1l3}S do do, 1881, registered, 114k 1l41k; do.
do., coupon, 117A 1ls; do. fve-twenties, regis
tered May and November, 1124 113; do do,
1862, coupon, do. 1928 49, do. do, 1864, do. do,
1l2a< 113; do. do, 1865, CO. do. 112zS 11316 do.
do, 1867, registered January and July, 113 1l3;
do. do 1865, coupon, do, 1l6 1l6A do do, 1867
do. do, III 1l7h; do. do, 1868, do. do, III
1l7h; do. ten-orties, registered, 1O9al l1O; do.
do, coupon, 1O9A 1lO; do aves OF 1851, regis
tered, 1ll2< l12h4; do. do, coupon. 1111< 1924.
DIVIDENDS COUPONS &C.
The coupons OF the first mortgage bonds OF the
Union Pacific Railroad will be paid in gold on and
after January at the company's odlce, in Boston.
and at the banking house of Morton, Bliss 4 CO.,
In New York.
The interest maturing January l, 1873, on the
coupon bonds Of the Norfolk and Petersburg,
southstde and Virginia and Tennessee Railroads,
payable at New York. will be paid Qess the State
OF Virginia taxl at the banking house OF Messrs.
Duncan, Sherman 4 Co., New York.
STOCKS DULL AND IRREGULAR
The stock market was dull with an irregular
movement In prices and an absence OF speculative
animation. The clique houses, as far as can be
traced, are free sellers Of some lines and heavy
buyers OF others. Some OF the stringency In
money has been attributed TO the locking
up OF currency by clique operators, who anticipate
q rising market with 'the January thawn in the
money market, thor enorts In this direction being
guided by policy OF buying on time at an ad.
vance Of y l per cent upon current quotations.
the use OF the money in the meantime being valu-
able to them for Its depressing power upon the
market and its help In enabling them to make an
extensive series Of
TINE CONTRACTS.
The STOCK sales, II Will be noticed, show an un.
usually large proportion OF these time TRANSACTIONS
New York Central being taken readily at 100 on
buyers options OF ten days. The more erratic
feature to-day was Pacific Mail, which luctuated
between 73 and "a. The gradual appearance OF the
conservative elements Of the speculative class OF
dealers was illustrated in the further rise In Gen.
tral to 99a and quick rise In Northwestern pre-
ferred to ss. An advance to 37k in c.,
9. h l. c., despite large sales by the Penn
sylvania Central party, is attributed to buying
movement in anticipation OF It's connection with
the nearly completed Chesapeake and Ohio Rail.
road, with which it will form almost ohe-half OF
new trunk line between Chicago and the Atlantic
seaboard. Erie was quietly strong and advanced
to 61 Ohios were rigidly steady. The rest of
THE LIST SUCCUMBED
to the pressure Of the money market and declined
about u per cent but was not allowed an oppor.
tunity OF experiencing the effect Of the relaxation
in money subsequent to three O'Clock, as the
Board adjourned at that hour out OF Difference to
the current dulness Of the market. The Board
viii adjourn at the same hour every day during the
remainder OF holiday week, such being the fruit
OF persistent effort to have the governors grant
"the boys" . double holiday al New Years, for
which an hour day until January has been con.
sidered an ample equivalent.
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest
prices OF the principal stocks during the day.
Highest. LoBest.
New York Central. ............. 09h 9Sx
Erie. .......................... 6l sos
Lake shore. re..................... e5M 95
Wabash. OBSERVATION-DISCLOSURES. Is IAN
Northwestern .................. 81 Sl1a
Northwestern preferred........ 8S SIX
Rock Island. ..1l1h ll0z
81. Paul ....................... san 53H
ST. PaU preferred. ............. Tx Tx
Ohio and Mississippi. .......... 4Std 48M
Union Pactnc. ..,.,............. 31I 36X