The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-08-20
GOVERNMENT BONDS,

were urn ana IN good demand, the ruling quota
lions being as follows limited States currency
skies. 113h 1872; do. do, 1884, registered, 117H
117a<; do. do do, coupon 1lsk l19H; do FIVE
twenties, registered, May and November, III; do.
do, 1862, coupon, do, IT, do. do, 1854, do do,
III; do. do. 1866, do do, 1881; do. do, 1857.
registered, January and July. III; do. DO, 1885,
coupon do, lit INK do. do, 1867, do. do 119h
119X; do. do, 1868, do do, 1l8X 118H; do. ten
forties registered, 1l21s; do. do, coupon. l15X;
do. nves Of 1884, registered, coupon. lax.
SOUTHERN SECURITIES
were stronger on we'll distributed bidding. with
sales at the Board as follows:-Old Tennessee
skies, s218; new do. s2k; South Carolina skies,
new, Is; Missouri skies, 90 92X. The quotations
as follows:-Tennessse skies, DID, S2%; do. do,
new, sl%; Virginia skies. old, 42al; do. do, new,
so; Virginia skies, consolidated bonds, So; do,
deferred bonds, 11H; North Carolina skies, old 81
do, North Carolina Railroad Company, 81; do,
Funding act, 1866, II; do, do 1885, 10; do, new,
16; South Carolina skies, 27k; do, January and
July, 16 do. April and October 20; Missouri skies,
s2A; do, Asylum or Union. 90; Louisiana skies,
new, AZ: do, Levee, 55; Louisiana Fights, Levee,
81; Florida skies, gold. 72H.
THE STOCK MARKET.
The stock market to-day, while moderately active
in some OF its details, showed the result OF the
strong bear influence with which it had to contend
since the opening of the week. Pacific Mail was
the exceptional feature, and around it seemed to
concentrate much OF the speculation Of the day.
On the one hand those who are "lOng" Of the stock
at any price exhibit confidence in the ultimate
ability OF the directors, when the present quarrel
shall have passed away, to give 1t permanent
value. On the other hand the large array of
"shorts" are equally assured that no amount Of
diplomatic skill can prevent eventual disastrous
results to the interests Of the company. Good re-
hovvA t.xo -
THIS FACT Is PRESSED HOME
as evidence OF what all may do when the new line
of ships is completed. AS Offset to this healthy
sign 1t Is urged that the steamers have not been
paid for, and cannot be paid for unless bonds are
issued and the finances OF the company are placed
upon basis entirely different from the present
one. What the bonds referred to- authorized as
they have been, may bring in the market is yet to
be seen. Doubtless their issue Will be the keynote
OF another phase Of this curious speculation.
Meanwhile much feeling has been engendered be-
tween the two factions now operating in the stock
and there Is q small war between the white
roses and the red, which Is probably making
more or less OF money for both. The stock may go
up or 60 down at any moment at the will or the
controlling magnates, and the outsider, If unpeas-
antly caught in either scale after the information
| that has been published, can blame no one but
himself. The meeting OF
| PANAMA DIRECTORS
| announced for to-day, at which 1t was expected
that the counter petitions for and against loan
| to the Pacific Mail Company would be presented,
| did not transact any business owing to the alb
sence OF quorum. This possibility was ioreshad-
| owed in yesterdays HERALD. 1t Is by no means
| certain that should quorum assemble hereafter
consent will be given to any further weakening OF
! the sinking fund OF the Panama Company.
THE COURSE OF SPECULATION
in Pacific Mail to-day Is best shown by its figures,
| which announced 4oh as the opening price, with a
quick advance to 40k 4oz decline to 4O7S 4Ols,
a rally to 4ON Al, and steady upward movement
thereafter to Az, after which the decline began
and extended TO 4o the closing sale. Erie receded
from 59,l 5sX to 5SX. western Union sold at 9O,s
| 9O7s q soA a soH, improved to 9o% 9OT, was
firm for awhile at this standard, but gradually
yielded to the general depressing influences, and
closed at S9T S9z. New York Central was steady
most OF the day at 104T 1O4& 1o4x, but finally
weakened to 1o43s 1O4k. Lake Shore sold at 93sS
937l eS% 9SH. Northwestern common
at 65 q 65h 64h, Wabash at 10 69zs
a 69k 6sx. Ohio and Mississippi was
steady between 3sx and 3s,I. In Union Pacific
the extremes were 27at a. c., G. ana l. G. opened
at 3O7s, advanced to Sl3s and closed at 3O%. Rock
Island declined from 1921 to 1907. Panama sold
at ia 113k. Delaware, Lackawanna and West
ern closed at 1908. Harlem was firm at la1 1sl :.
1917. St. Paul touched SO and closed at SIX. From
the foregoing quotations 1t Will be seen that while
the market tended upwards during the middle OF
the day 1t later felt the severe pressure OF the
hardening OF money to per cent and yielded to
the fear that something more than merely TEN.
/ pOrary influences were at work.
HIGHEST AND LOWEST.
| The following table shows the highest and lowest
prices OF the day.
Highest. Lo,cest
New YORK Central and Hudson
stock consolidated. los lO4,.
Erie. ACKNOWLEDGEMENTS. 69x 5sX
Lake Shore. .................... 93A 93r
Waoash ....................... I0x 6sS
Northwestern .................. 65h CAL
North western preferred ........ SO SO
Rock Island. ................... 109x 1O9L
Milwaukee and st. Paul. ....... so SIG
Milwaukee and 1t. Paul pref. Tx n
OHIO and Mississippi. ........... 3SX 3Sh
Union Pacific. .................. 27T 81
G., {. and ]. C.................. 31h 3OZ
Western Union. ................ COZ sos