The New York herald., 1872-12-20
GOVERNMENTS DULL

GOVERNMENTS DULL.
The government bond market was directly SYM
pathetic with the course Of the gold market and at
the early boards was lower, with the e7s ''onn to
ll6. The decline brought in buyers, ana prices
recovered y ", the market becoming dull
again and leaving on steady at the follow
ing quotations: limited States currency SKIES,
1l2h 112a<; do skies. 1881, registered 113x ia;
DO. do, coupon, l17A q 117K; do. hve-twenties,
registered, May and November, 112H 112H; do.
do, 1862, coupon, do, 112H 112K; do. do, 1854,
DO. do., 112A l12k; do. do, 1896, do. do, 112k
1l3; do. do, 1867 registered, January and July,
ll1A 112H; do. do, 1885, coupon, do, 115 115k
do. do. 1857, do. do, 116x . 116x; do. do, 1868,
do. do 116 11eX; do. ten-forties, registered,
10eK 1o9h; do. do, coupon, 1O9H lo9x; do.
nves Of 1881, registered, HOY INK; do. do,
coupon, Ill q 111I.
STOCKS MORE ACTIVE AND FIRM.
The inconsistent relations OF the stock and money
markets were again noteworthy feature Of the
day in Wall street. the larger business and firmer
feeling in the one being In striking contrast to the
excessive strtngoncy ~i0 the . not Am
probable that the sharp rise Erie had much to do
with imparting strength to the general list but the
argument from this standpoint is offset by the
downward career OF Pacific Mail, which lost as
much as. If not more than Erie gained, and from
its more recent leadership OF the market, ought to
OF sEre ia given at length In an adjoin-
ing column and viii be interesting reading
to the thousands OF Erie stockholders at home and
abroad. The price Of the stock opened at 53k as
against 52zs the previous evening and advanced to
SIX during the course Of the day. leaving or
eventually at pretty nearly the highest figures Of
the day. The
VALUE OF THE BENEFITS
derived from the restitution made by Jay Gould Is
estimated to be in cash about six millions Of dollars
which, distributed to the capital OF $50, 600 900,
would be about per cent. AS the rise In the
stock has been only about per cent within the
past few days the advance is either dispropor-
toned to the cause the estimate Of the value OF
the property restored Tor to be restored) is too
great 1t is said that Jay Gould has prepared
to take advantage OF his own virtue
by laying in q large instalment Of Erie shares
against the rise to follow to-day's developments.
SO far Wall street has taken the matter quite
calmly, as will'be seen in the modest rise in the
stock, but we are yet to learn what London and
England will DO tomorrow when the news is laid
before the British public in the morning papers,
Nothing new has transpired as to the
DIVIDEND ON ERIE PREFERRED
stock, II we except decision In the United States
Court just made. that the preferred stock in the
matter OF dividends, is anterior to all bonds and
obligations except the common stock. The specu-
lation in Pacific Mail has assumed new features
and the decline to-day from s2,< to 76' is attributed
to lack of harmony In the recently organized
"bull" clique. western Union Telegraph advanced
20 SIX, closing at sOX. The general market was
firm and at one time X per cent higher, but
fell Off again and lost portion Of the Improvement
later in the day, the newer features In the rise
being Ohios and 30. O. and l. O." The directors
OF the Rome, Watertown and Ogdensburg Railroad
have declared stock dividend OF five per cent,
payable February Is, the transfers closing on the
evening OF December 81. The Stock Exchange
governors have ordered the expulsion from the
board OF r. R. Butler, lately charged by his partner
Mr.. W. B. Clerke, with wrongful appropriation Of
the securities OF the nrm. M
HIGHEST AND LOWEST PRICES.