The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-02-08
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ATLANTIC AND GREAT WESTERN RAILWAY.
The London Economist, OF January lS contains
the following:-
Messrs Bischo nsheim Goldschmidt invite sub
scriptions Tor an issue OF Leased Lines Rental
51s, S0 Re AZ amount sns Of
which forms part Of e., 2oo0 specially secured by
the rental 9, se snS aa Ga
mango and Allegheny lallroad, now under agree
ment of lease to the Atlantic and Great Western
Railroad Company. The bonds, to bearer In sums
OF f2Oo each. repaya at par, at the holders
option, in gold in New York. or in sterling in
London in thirty years tunless previously paid on,
by an accumulative sinking fund OF per cent per
annum. The interest IS payable hali-yeEy on lst
January and Isl Jniy' IN London IN sterling at IS;
due lst July next The sinking fund will be applied
by halfyearly drawings on LIST May and lsl Novem-
Ist July and LIST January following each drawing.
The iirst drawing will take place on LIST May next.
MONEY ACTIVE.
The money market was active, and might, in
deed, be called stringent, the pinch for iunds to
carry over stock accounts being severer than ex-
perienced since the early part of January. The
rate on call ranged from per cent as an excep-
tiona extreme the easier side to as high as lie
and interest in the period OF greatest scarcity The
average rate was probably 1-32 Among the gov
eminent dealers the quotation was 7, coin.
Mercantile paper was quiet, and prime names were
quoted q 10 per cent discount Foreign exchange
was weak and tribe lower for actual business, but
n0minalS unchanged.
SOUTHERN SECURITIES HEAVY.
The Southern State bonds were heavy and mostly
lower. The Tennessees went OF to 81T and new
South Carolinas sold again at % The following
were the closing prices :-Tennesse ex coupon, slh
a 50; do. new, SIX 50; Virginia ex coupon, 4s
90; do. skies, consolidated bonds, 55% So; do.
"A II al a
so; do. sevens, 50 q 81; North Carolina ex coupon
SO 341S; do. to North Carolina Railroad, SO 81;
do new II 20; do. special tax, II q IA; Missouri
sixes "a OAK; do Hannibal and st. Joseph. 90a91;
Louisiana skies, 80 o Sc; do eights 80 90; Ala
bama hves So a 81; do Fights, SO ass; South Caro-
lima skies. 40 SO; do new, January and July, ~
22H; do. do, April and october. "a 20; Arkan-
sas skies, funded, 40 80.
GOVERNMENTS LOWER.
The government list was lower, with the early
weakness and lower ruling of the gold premium,
and in the subsequent business of the DAY. faded
to rise with the advance therein, because o.
the depression following the apprehension or
failure in the negotiation of the new
loan. The decline, however, was only u
x per cent, the market leaving. Off firm as fol-
lows:-United STATES currency sixes lis 115H;
do skies, 1884, registered, NIX 117H; do. do,
do coupon, 11SH 11Vs; do. 1ve-twenty regis
tered, May and November, lax lis; DO. do,
1862 do, 1144 lis; do do, 1864, do. do, 114s4
49, do. do 1885, do do, 115h 1851 do do, 1857,
registered, January and July, 114h 11a7+; do do,
1865 coupon, do, lax 114's; do. do, 1867, do.
do 1867 1l6aS; do. do, 1868, do. do, 1l6A
11ek do ten-forty registered, 1llA liz; do do,
coupon, 114l 114sl; do nves OF 1881. registered,
1l3 113h; do. do, do, coupon, 113A ll3H.
sTOCKS FEvERIsH AND LOWER.
Tho otock mark of atrOnO and fairly active in
the earlier hours Of the day, and the steadness Of
prices was only temporarily Disconnected by the
excessive activity in the money market; but the
moral distemper occasioned by the apprehension
that the Syndicate had failed to place the whole
of the new five per cents induced weakness
and q pressure to sell, under which prices
gave way irregularly, and In some cases
stubbornly, until the quotations ruling at the
close were not far from the lowest OF the day. The
exceptions to this course OF the general market
were Hannibal and st. Joseph, Pacific Mail and 9.
c. and I. q. Hannibal and st. Joseph advanced to
SIX under auspices which are not well defined to
THE VIEW OF THE STREET,
unless as they collateral with the interests Of
the Wabash party and the extension of the latter
road in search of ans-Mssssppi trafhc. Pacific
Mail which sold at 1917, is believed to be under the
patronage Of pool who were ''short" OF
1t just just a year ago at IS IS, and
have been recently "bulling" it at 95 TO-
The lighter fancy G. G. and l. c. has been or is to
be absolved or dissolved from its subsection to the
Pennsylvania Central Railroad and, as already in
mated in the HERALD, is to form part OF the
Western extension OF the newly opened Trunk line
the Chesapeake and Ohio Railroad. Erie was bet.
ter most of the day, at fraction above 81, but
closed at q decline to nearly the level Of the Lon
don market. Boston, Hartford and Erie, after an
early decline to SIX, advanced to 9E and closed at
ca o.. The other
CHANGES IN THE MAKET
| were not of important extent, and were COM
| passed within average decline Of about 4 per
| cent, save and except for Western Union, which
was neglected and lower to the extent OF about one
| per cent. The "bears," in hammering the market
late in the day, appeared to act upon the convic-
| ton that the failure Of the new loan had been as
complete as II not single dollar OF 1t had been sub
scrbed for, the subscriptions for possibly two hun
| dred or two hundred and fifty millions OF dollars
being only bagatelle, and positive discredt to
| the country and o detriment to its finances. The
earnings OF the Ohio and Mississippi Railway Com
| pany lor the month Of January were, in 1873,
$277 775 and in 1872 $27So24 an increase Of ISL.
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest
prices Of the principal stocks during the day.
| Highest. LO,cest.
-