New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-02-07
THURSDAY, Feb. CT. NJ.

With reference to the new Syndicate, everything
up TO the close tonight, seems TO be III inc mosI
favorable and atterng condition, and tho prospects
of success are fattering as ever SuDscilpuohs
come in rapidly and there good reasons for sup
posing that those on the other side will exceed the
$500 600 offered. Full information IL, however,
near at hand Secretary Boutwell, has, to-day, issued
a call for the redemption of one hundred millions OF
5-2Os at the expiration of the usual 30 days, TINS
step being taken before the books of subscription
have finally closed the action will go far toward
removing any uncertainty that might have existed
as 10 the final negotiation of the five per cents III
is quite likely the lately developed opposition
TO the undertaking had some foreknowledge of
what was coming, from the fact that whereas yes
terday it was over-confdent to-day it has been less
disposed to interfere in behalf of itsown projects
London sends favorable news with better feeling
in United States bonds at the close, money ruling
easy The Bank Of England did not change its rate
of discount and it still remains at 81 per cent-the
point to which it was reduced last Thursday. The
bank gained in sterling bullion during tho week,
f3790O0. With all these favorable circumstances,
there is a general and well-grounded belief among
eminent bankers here that the close of tomorrow
will witness the triumph of the Syndicate and a
complete and detailed success of their undertaking.
There was a firm feeling in the stock market to-
day, outside of Erie and Western Union Telegraph,
and a general advance in prices took place, the
market receiving further impetus from the intma-
tion and the late announcement, Of the redemption
of an additional hundred million 1903. Western
Union was irregular in its course and the prico
1uctuated frequently in an upward and downward
direction The earliest sales at 93t up to 81,
but at the First Board the price made rapid
descent TO Of. There were large sales OF
the stock at this time and speculation
failed TO recover its vantage IN the
later business The friends Of the stock, however,
succeeded in ralying the price to 9S5, but another
decline to 9s took place. the final transactions being
at 92ta929. Erie, after advancing from 66s to 67s,
tumbled to 65I in sympathy with weakness in the
stock at the London Change. There was more
steadiness in the late dealings and the price rallied
to CO.. Pacific Mail once more exhibited an exuber-
ance of spirit, and the stock was easily
moved up from ~ TO 70, with ap-
parently little opposition. There was an
advance in Hannibal and st. Joseph Common from
IS to 5Ol and in c. c. and l. c. from 40s to 42h both
of these attracting attention than usual New
York Central, Lake Shore, and Missouri Pacific adj
vanced to per cent and the remainder OF the list
to per cent the dealings not being particularly
active. The general market wound up firm on the
Treasury announcement alluded to above. Harlem
was steadier at 1190ll9!, Hannibal and st. Joseph
selling at CO.. Michigan Central at 1l0Gl10., Morris
and Essex at 81. and Boston, Hartford and Erie at
sIl1g! Coal stocks were slightly higher IN CONSOLE
dation. and lower in Central which declined from
As 10 AZ, Expresses were steady. The following
were the opening highest lowest and closing prices
of stock TODAY: