The New York herald., 1872-12-31
Chic 4 Alt income.

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THE SOUTHERN STATE BONDS DULL.
The Southern list was dull, with . rather hrmer
tone. the Tennessees recovering n and new South
Carolinas about as much. The Virginia consols
were heavy and neglected. The Missouris were
of Y y per cent. The following were the closing
quotations Tennessee, OK coupon. 70 . 80; do,
new, aso; Virginia, ex coupon, IS q so; do,
registered stock Old, SO q ~; do skies, consoll-
dated bonds, IS So; do. skies. deferred scrip,
1914 16; Georgia skies. 10 70; do. sevens So
90; North Carolina, ex coupon, 3Sk q "a; do. to
North Carolina Railroad, 50 . 90; do. funding.
1865, rs 28; do. do, 1858, "a 20; do. new, 10
. 81; do, special tax, IL 15 Missouri slxes 95k
q 06 Hannibal and Sc. Joseph, 92 q %; Loulsi-
ana skies, 81 S.; do, new, so a IS; do levee
sixes 80 90; do. do. eights, 65 70; do. do de-.
1876, e5 q 20; Alabama nves, 81 90; do. eights.
SO q 81; South Carolina skies, so a So; do, new.
January and July, 22K %; DO. do. April and Oc-
t0ber, 26 26h; Arkansas skies, funded, 80 ~.
GOVERNMENTS BUOYANT.
The government list was strong and buoyant.
with further advance In the CTS to 117h, at which
they closed, az per cent above their par in gold.
The currency skies advanced to 113,S. It will be
curious to watch the course OF the market after to-
morrow and see II these prices will be sustained
when the holders OF bonds who bought to avoid
taxes begin to sell out. The following were the
closing prices:-United States currency skies, 1134
1l31s; do. do, 1881, registered, 114h l14K; do.
do. coupon, l1s 1885,; do, flve-twenties, regis
tered, May and November, 112A 11s; do. do,
1852, coupon do, 112A 11s; do do, 1884, do do,
l12A 113; do. do, 1856, do. do, 11s1< 1l3h; do
Nn n~lct Tam vnUA Y,r1u A.
do do, 1885, coupon, do 1le1 a1l6K; do. do, 1857
do. do, 117H 1l7ss do. do 1858, do. do, 117,S
117x; do. ten-forties, registered, 1OoA no; do.
do, coupon, 1o9x no; do. nves OF 1881, regis
tered, 1llx 112z; do. do, coupon. 111s< l12k.
STOCKS DULL AND LOWER
The stock market opened steady and dull, but
during the session OF the first board became weak
under the several influences OF the spasmodic
activity in money in London incident to the semi
monthly settlements at the Stock Exchange in that
city and the announcement that Secretary Bout
well had resigned the portfolio Of the Treasury
office. In the case OF Mr.. Boutwell, the depression
was the usual result Of changes in important Cabi
net positions, tho effect In this instance being In
tensined by the apprehension that his departure
from Washington implied modification of the
Treasury policy which has been so prominent q
feature OF the present administration. After these
matters came the
RECURRENT STRINGENCY
in the money market the climax OF its severity, in
the vicinity OF half-past two O'Clock, precipitatng
sudden downward turn in prices throughout the
market Pacific Mail, as has happened 80 often,
being the Jonah OF the trouble, and falling from
75A to 1917. the others going or u per cent.
Gradually 1t began to dawn upon the memory Of
many Of the foreign brokers that 1t might be
settling day in London, and that the monetary
activity there this afternoon was only temporary
affair, while close upon the heels of London news
item confrmatory OF this Interpretation came
rumors that the strongest candidate for the sue
censorship to Secretary Boutwell, was Ex-Governor
and ex-senator Edwin D. Morgan, at present in
the banking business In Exchange place, and long
Identified with
"THE WILLIAM STREET PARITY
in his views Of the finances In general and OF
monetary and Wall street topics In particular, his
efforts in inducing Mr.. Boutwell, to let loose ten
millions Of money in October and thereby break mp
the Smith-Gould combination OF ''bears" and lock-
ers-up OF greenbacks being part Of the recent his
tory OF Wall street. 1t Is, indeed, possible that
intmation OF such a'change In the Treasury Secre-
taryship has been at the bottom Of the wonderful
harmony of the leading speculative combinations
in their views OF the future Of the stock market
related by us in the HERALD yesterday, the very
Smith and Gould who were defeated last October in
their
RAIDS ON THE MONEY MARKET
by the interposition OF Mr.. Morgan with Senator
Conkling and President Grant and his efforts in
securing the disbursement Of the ten millions OF
government money being now on the 'bull" side
of speculation, the latter OF them out-Heroding
Herod as leader Of the "bulls" In the movement
Tor higher prices. With the prospect thus pre-
sented to the excited Imagination OF the street
there was sudden rally in the market, New York
Central taking the lead and rising to 99X-the
highest point OF the season-numerous sales OF the
same stock being made at 100, "buyer ten days"
The recovery elsewhere was as sudden, but not as
extensive, and the general list at the close, while
showing an Improvement Of \ 4 per cent upon
the lowest prices of the day, was still below
THE OPENING STANDARD.
The early adjournment OF the board prevented
full exercise OF the influence Of the closing buoy
ancy in our bonds on the London market, the news
of which did not reach the street until after three
O'Clock At the same time the gossip about ex-
Senator Morgan was rendered less enec-
tive toward the close BY Washington
report that Mr., Boutwels successor would be the
Assistant Secretary, Judge Richardson-a man OF
Mr.. Boutwells own pattern in every respect-and
likely to be his successor in view Of General Grants
committa to the principles OF civil service reform,
which as President he has SO often advocated and
endorsed as the essential policy directing political
promotion and preferment.
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest
prices OF the principal stocks during the days
Highest. L0tCest.
New York Central. ............ 99M 98n
Erie. ACKNOWLEDGEMENTS. 62S 6ln
Lake Shore. ore.................... 90 95H
Wabash. h........................ IS TAX
Northwestern. Neutrality-suspicious.. 82x S2H.
Northwestern preferred........ 69z S8X
Rock Island. nd....................111S 110A
ST. Paul. 63A