The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-05-21
SOUTHERN SECURITIES

Del E E.st "a S SSl h Mn e 8
SOUTHERN ssCURIrIEs
Southern bonds were dull and transactions light.
Virginia SKIES and Alabama skies fell on. The other
securities were steady The quotations were as fol-
lows:-Tennessee, ex coupon, ah 81; DO, new,
Sly q SIX; virginia, ex coupon, 4s At; do skies.
consolidated bonds, IS q 63h; do skies, deferred
scrip 1lh 12,S; Georgia skies, 80 81; do. sevens
90 %; North Carolina, ex coupon, 2sH 80; do,
funding, 1885, IT 20; do, funding. 1865, II q 20;
do new, 16 II; do. special tax, IS Is; Missouri
SKIES, ssX q o.; do, Hannibal and st. Joseph
9Oss . s1k; Louisiana skies, 10 q A.; South Caro-
lima skies, Is SO; do new January and July, 10 q
II; do. new. April and october. rs a %; Arkansas
skies, funded, So 40 ~
GOVERNMENT BONDS. lt ast f@H
There is q good demand for governments. es.
pecially from German bankers; but the slightly
lower ruling Of gold allowed a small concession
In some Of the issues to-day; 1875 continued ex-
ceptionaly firm, however, at 12l. The following
were the closing prices:-United States currency
sixes 115X I16; do. SKIES 1881, registered, 1lSh
11sK; do. do. do. coupon. 12X 122h; nve'
twenties, registered, May and November, l16x o
ll6; do. do. 1862 coupon do, 116 116A; do. do,
1854, do do, 11e 1loK; do. do, 1885. do, do,
l17x a 1ls; do. do., 1857 registered, January and
July, l1sh 11sk; do do, 1885, coupon. do, 11sA
u
1868, do, do, 11sx 1lsX; do. ten-fortes regis
tered, 1l2x 112h; do, do, coupon, lax HAY;
do fves OF 1884, registered, lax IFS; do. do. do,
coupon, Hay 1l6.
STOCKS DULL AND STEADY. tae .a
The general tone Of the market has been dull and
firm, ana transactions. save in Pacific Mall Erie
and Western Union were comparatively light.
The opening was weak the first sale OF Pacific
Mail being at As, that stock going or to 46z but,
recovering, the price lowered around 45k q 46
until the close Of the day, when it sold at 46h
Erie was active as sequence of the favorable ad-
vices from London, opening at 62ss and steadily
improving until 1t touched 641<. The London
sPECULATORs IN ERIE
seem to have again obtained control Of the market,
their design as regards the leasing Of the Great
western Railroad to the Erie Company having been
furthered by the consequences OF the Vienna panic,
which several days ago precipitated large amount
Of the stock on the English market. Western
Union was dull, the lowest price being s5X, from
which point It advanced to s6H. New York Gen.
trail was especially strong late In the afternoon,
and turned the corner of 1O1, It's example being
Initiated by Lake Shore, which advanced to Of, the
tive stocks showing more or less sympathy with
each other. or, -4&sE
ST. PAUL ea
as steady, Notwithstanding the announcement
although done on the 18th inst, was made public
only within day or two. This action was taken
against the issue to stockholders as first choosers
OF new ten per cent equipment loan. the nature
and character Of which are set forth as follows:-
The opening Of the new road between Milwaukee
and Chicago and extension OF other lines Of the
company having developed large additional
trafic have made it necessary for the company to
procure an increased amount OF equipment and to
lay steel rails on the main lines also to procure
deDOt grounds improve
To provide the necessary funds therefor and also
for the building OF bridge across the Mis-,
Directors have resolved to issue $2,500,0 900
Of bonds, to be styled equipment and Bridge
bends" which are to be first lien on the bridge
and q second lien on the rsilways Of the company
excepting the La Crosse and Prairie du Chen divl-
Said bonds are to be $1,000 each, drawing ten per
cent interest, payable semannuay on the LIST Of
June and 1st OF December. principal due June l.
days. notice, to pay the bond at any time after
June l. 1878. One million five hundred thousand OF
said bonds are now offered to the common and
preferred shareholders at par and interest In pro-
portion to the amount OF shares held by each, say
one bond for every hundred shares Of stock mas,
probably decline to subscribe. Payment may be
made IN one sum or in monthly instruments !;s
the bond The the
right to close this oer at any time. Bonds will be
ready for delivery June l, 1873.
There has been little more activity lately in
NORTHWESTERN PREFERRED,
the result, 1t is shrewdy suspected, OF orders to
sell the stock for account Of the German market
further consequence In turn OF the Vienna panic.
Union Pacific and c.. G. and l. G. kept side by side
IN an upward turn to a common quotation OF 81.
The rest of the market calls for little remark fur
Their than that the average Improvement Of the
day, outside OF the features already mentioned,
about u per cent. The fact has, doubtless, been
observed and commented upon that Wall street is
at the present moment
WITHOUT A LEADER
other than such Jay Gould is credited be, for
there is scarcely movement up or down now.
adays for which, there being no reasonable ex-
panaton he is not supposed to be directly or indi-
rectly responsible. In fact, this individual ap-
pears to be the "bugaboon OF the bulls and bears,
alternately. To illustrate: The market being now
at slack water, the gossips have it that Jay Gould
Is "short" Of Western Union and long OF other
stocks among which are prominently mentioned
st. Paul and Pacific Mail; that he is keeping these
stocks down to the end, that by sympathy he may
likewise depress Western Union and thus be en-
abled to close his contracts in that stock without
ma 7