The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-06-12

IS, Manhattan. 1852; Merchants III; me-
ckanics' 1873; Union, 1881; America 100; clty,
255, Phenix, 99 Gallatin National III; state
OF New York, Ill; Commerce, ZIG; Mechahics
Banking Association 100; American EXCHANGE
100; Bank OF North America, 10l Hanover lo7h;
Irving 100; Grocers, lol; Market, 100; Nassau,
lOl; Shoe aud Leather, 100; Continental, SO; st.
Nicholas 10; Commonwealth, Sc; Importers and
Traders 1856; Park 1853; Fourth National, 1l3;
Ninth National, 1o4; oriental. les; Gold Exchange,
ll2; German American, 102
SOUTHERN SECURITIES.
More business than has been recorded for several
days was done in this line, but without material
change prices. Tennessess old, sold at 20; South
Carolina skies, new, January and July at 15x do,
new, August and october, at Is; Virginia skies,
deferred, 10Y; North Carolina SKIES, DID, %; Mis-
souri, sixes 941s; do. skies, Hannibal and St.
Joseph ISSUE 90; do. SKIES Asylum University,
s3s; Tennessee skies, DID, 70; do. skies, new, IS;
Georgia sevens new, 90; North Carolinas 10
North Carolina Railroad Company, coupon,
so; do. do, ex coupon, 40; do, new,
1871; do, special tax, IL; South Carolina
SKIES, January and July, 1914; do. Fund act, 1865,
16; Arkansas sevens, Little Rock and Fort Smith
ISSUE Is; do. sevens, Memphis and Little Rock, IS;
do. sevens, Little Rock, p. B. and New Orleans,
do. sevens, Mississippi, Ohio and Red River, Is; do.
sevens Arkansas Central Railroad, Is. In refer
ence to the Southern bonds generally 1t is q mis-
fortune that
THE DETECTION OF TWO OR THREE STATES
should exercise an adverse influence upon all. In
dividual as well as STATE credit is thus affected.
The merchant or banker who comes to New York
to negotiate an individual or corporate loan dnds
himself met on every side by the question, Does
your State pay the interest on her debts II nay,
he encounters. no matter what may be the value oil
his security obstacles that are well nlgA insur-
mountable; II yea, he realizes promptly how in.
rnately the credit OF his State Is Identified with
has own, and he derives commensurate advantage
Hence 1t would seem TO be matter of the utmos
Importance that every Southern community, with
out awaiting the action OF she law to enforce tn,
payment OF its obligations should, as matter 0
public interest, take such steps wiz most quickly
, satisfy their bondholders throughout the country
of determination to wipe out every State liability
no matter how or by whom 1t has been contracted
| Reputation In any shape or with any limitations
Is destruction OF State faith for that faith has In
\ volved an outlay OF millions OF dollars by persons
| wholly innocent OF collision in the infamous mean.
| whereby many OF the Southern State debts were
contracted.
/ GOLD l171s A l17h.
Gold was weaker to-day. declining from l17h t.
| I171s and closing at ll7H. Possibly it was the
result Of the report yesterday BY the Sub-Treasure
UIdl he Hdu oisOuTsed 81 llduOu III 8Olu In reueHlp
ton OF dve-twenty bonds; but the actual report o
the day shows that OF gold payments there wa,
made only $SO7 ,9ol, the former sum representing
only certain checks that had been satisfied a
| Washington and sent to New York to be enteret
the books OF this office. Possibly twas an error
II not, 1t was piece of diplomatic f,esse utterl,
unworthy Of the Treasury Department. II it wa
intended to "bear'' the gold market the purpos,
was accomplished, but acts'of this character ar,
not calculated to enhance the faith in figures
which should be attached to every numeral thai
comes from the head OF the Department. Is the
Treasury of the United States so weak that it mus
needs bolster itself by trick
The fluctuations OF geld as recorded at the Elk
| change to-day were q CclIowa.-