The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-05-02


Co., on behalf Of themselves and other holders Of
the bonds have sued for mandamus In the SUI
preme Court Of so7th Carolina 10
COMPEL THE STATE
authorities to levy Q tax for payment OF the ac-
crued interest on ave certain issues OF bonds,
amounting In all to So, 1000. created under laws
known respectively as Gan act to authorize loan
to redeem the obligations known "a the bills re-
cevable OF the State OF South Carolina;', IAN act
to authorize State loan to pay interest on the
public debt;n can act to authorize loan for the
relief OF the Treasurer;n IAN act to provide for
the appointment OF Land Commissioner, and to
define his power and duties,n ana IAN act to
amend an act entitled An act to provide for the
appointment Of o Land Commissioner, and to de-
fine his power and duties and for other purposes
therein mentioned n-in each Of which there Is q
section providing for the laying OF
A SPECIAL TAX
to meet the payment OF interest. as follows:-'A
tax, in addition to all other taxes, is hereby levied
upon all OF the taxable property OF the State suf
ncient to pay the interest the bonds herein au-
thorized." The following were the closing quota
tons for the Southern list Tennessee, ex coupon,
70 791s; do new. 785s 70; Virginia, ex coupon,
43 o 4S; do, registered stock, old, 81 40; do,
skies, consolidated bonds, So 53H; do, sxes de-
ferred scrip, Is o 1875 Georgia sxes 70 q SO;
do. sevens, 80 q 81; North Carolina, ex coupon,
q 80; do, to North Carolina Railroad IS 60;
do. funding, 1866, II 10; do. do, 1868. II
a 10; do, new, 16 II; do, special tax, IA a 10;
Missouri skies, 03a< o.; do. Hannibal and st.
Joseph, 9O}1 81; South Carolina skies, new, jan
uary and July, Tx 1S; do, do, April and Octo-
Der, ~ 80.
The hurry OF an excited market necessitates
prompt expression Of the wishes OF buyers ana
Sellers and hence In the dealings at the Stock Ex
change the names Of stocks are frequently con-
tracted to their initials. Thus Union Pacific is
almost invariably called U. P. and Pacific Mail P.
M, while the sesquipedalian Columbus, Chicago
and Indiana Central is shrunken into c., G. and
G. The initials in turn suggest new names, SO that
p. NJ. becomes perpetual Misery c., G. and l. G.,
.'Conee, Cakes and Ice Cream,n B., H. and E.,
"Bacon, Ham and Eggs DC. The London brokers
make practical use Of this disposition to miscall
stocks and have
REGULAR VOCABULARY
OF nicknames for the active features OF the specu-
lative list. The members OF our board will be In
terested in the following article from recent num-
Der Of the London Iavestors Guardian
Long names are inconvenient in Stock Exchange
dealings and similarties between names are con-
fusing. Securities with long names are conse-
quently generally spoken Of by some abbrevation
or nickname" and where two or more stocks
have names with only some small difference be-
tween them some feature or association In one OF
them often ms b wca ey
are net little ingenious. For example, Turkish
SIX per cents Of 1865 are known as .Mlttons," the
Turkish bonds OF 1863 are known as "Cohens,"
having been brought out by the firm OF
french % per eens Te known as
In several cases railway stocks are known by the
q on their
Northern. "Leeds'' Tor Lancashire and Yorkshire,
'Berwicks" for Northeastern and ''Brums or
"Birminghamn for London and Northwestern.
United States fve-twenty bonds were commonly
called greens" from the fact OF the first issue Of
Ra o sns &c
name OF "Smelts,, and British Indian Extension
are called .'singapores;" The latest addition to
been given to Newfoundland Telegraph shares.
STOCKS DULL AND LOWER.
The stock market was exceedingly dull, the
spasm OF tight money checking both speculation
and legitimate business. At the early session OF
the Board temporary spell Of weakness was oc-
casioned by the oflcial announcement OF the fail
ure Of the firm OF Otis D. Swan Go. with liza
bilites OF only $4,000, but the market soon re-
covered ana became steady. remaining SO until
the closing stringency in money, when the feeling
became discouraged again and prices declined
Western Union Telegraph was exceptionally firm,
and, after sympathetic decline at the morning
Board to s4H, advanced to S5K, closing SAX, or
just about as it opened. The greatest decline was
in Union Pacific, Pacific MAIL Wabash and G. G.
and O., which fell or about one per cent. other
wise the market was down hardly more than one.
half per cent
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest
prices Of the principal stocks during the day
Highest. LOlrest.
New York Central. ..100T 1907
Erie. ACKNOWLEDGEMENTS. 64S 646
Lake Shore. ACKNOWLEDGEMENTS. 92H 9ln
Wabash. ACKNOWLEDGEMENTS. 10 69h
Northwestern. .................. 500 sou
Northwestern preferred. S5h S5h