The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-02-06

Since JAM SCI $40 1853 $40, All $23,O2S,lSl
THE GOVERNMENT PURCHASE OF BONDS.
The Treasury inaugurated the February pro-
gramme to-day with an offer to purchase million
Of fve-twenties. The tenders, as usual of late,
were less than the amount advertised for, the total
being 1862 $50 at 1921 11374 The price OF gold
was taken to be 1885, which limit confined the
acceptances to $685. ESQ at 1921 1887.
THE NEW LOAN.
The American agents of the Syndicate report
that the national banks subscribed largely to-day
70 the new five per cents and in excess OF their
subscriptions yesterday. The progress OF the loan
In Europe reported simply as satisfactory"
but yet details in the way figures are given
The limitation of the time during which the books
will remain open is the reason assigned for the
Withholding OF specific information to the extent
OF the subscriptions from day to day, as obvious
injustice might be done to parties who were the
first to send in their applications. 1t is the
CUSTOM IN EUROPE
where these large negotiations are an everyday
matter, to keep secret the progress of subscrip-
tons until the books are closed 1t is true that
last year, when the Syndicate were engaged in a
similar transaction, they reported their progress
from time to time, but on that occasion they kept
the books open for no fixed PERIOD but reserved the
right to close them at any moment Their silence
figures In the present instance Is no indication Of
the failure Of the undertaking, which is just as
likely to be startling success. Still the point OF
reticence on the part Of the Syndicate is skilfuy
used for speculative purposes in the Wall street
markets. Four O'Clock Friday afternoon, or at
furthest ten O'Clock Saturday morning will solve
the mystery.
THE FOREIGN MARKET.
The London market for the day has shown I'M
favorable quotations for United States securities
Rll OF which have declined q q per cent, the lat
ter extreme being reached in the case OF the new
ives, which went of to 9O24 against 91tS the pre-
vious day. On the other hand, consOls have been
urn at a slight improvement. The open street rate
Tor money on consos was reported to be down to
BIZ per cent. Eric shares were actively weak, and
declined from 53h to So, but closed at a rally to
b2ss, equivalent to &c in our currency. French
rentes were buoyant and higher in Paris.
MONEY ACTIVE.
The money market was active, but as compared
with Tuesday, a shade easier. The rate on call
ran as high 1872 and interest early IN the day,
but dropped quite suddenly to a per cent in the
afternoon, only to harden again to q coin be-
fore the close OF dealings on the sidewalk Mcr-
camille paper Is slower OF sale, but the quotation
for prime names remains q 9per cent. Boston
buyers who take good deal OF the paper made
here, have advanced their terms Il per cent above
the average. Foreign exchange was quiet and
dull on the basis of 1902. for prime bankers sixty
day sterling and 110A for sight bills
SOUTHERN SECURITIES BETTER.
The Southern State bonds underwent q reaction
for the Tennessees, which recovered to S2a. The
Missours advanced to "a and New South CayOlinas
sold at %. The sudden decline Tuesday in the
Tennessees Is attributed TO the decision OF the
state Courts compelling the State author
tiles 10 accept in payment OF dues to
the State the new OF the Bank OF
Tennessee, which have been pronounced legal and
OF the same validity the old The following
were the closing quotations Tennessee, ex cou-
pon s2h So; do. new, so a s21s; Virginia, ex cou-
pon a. a5O; do, registered stock, Old, 81 AZ; do.
SKIES consolidated bonds, 55ts Sc; do. SKIES, de-
ferred scrip, IA Az; Georgia skies, rs 50; do
sevcns, SO o2 North Carolina, ex coupon, SO IS;
do to Nertn Carolina Railroad SO 81 do, funding,
1866, 20 u; do. do., 1868, % %; do, new, IL
10; do, special tax, IL Is; Missouri SKIES go. a
S4 do, Hannibal and St. Joseph, 90 81;
Louisiana skies, SO a Sc; do, new, As a SO; do
levee skies, SO 81; do. do Fights, so q 65 do. do
Fights, 1875 60 a IS; Alabama fves, 81 a CT; do.
eights, 81 a 81; South Carolina srxes, 40 a so; do.
new, January and July, 2 22ts do. do, April and
October, "a a 20; Arkansas skies, funded, IS a As.
THE RAILROAD BONDS.
The railroad bonds were less active but steady,
n not frn. The Union PaciQcs we're exceptionally
heavy and lower Central Pacifcs advanced to
IO4 receded to 103,s and closed 1885 1882. The
new Northwestern consolidated bonds sold at Ola.
The following were the bids at the call as amended
by prices in subsequent dealings:-
New York Cen 6's. 1883 vs. Del Lack West "a IN. ga
New Yark Cen a A m ex