The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-07-23
NEW YORK HERALD WEDNESDAY JULY g. 1ss-TRPLE SHEET

1893 at e. Old North Carolina SKIES at g. new
South Carolina sixes Of January and July at lax.
The remainder of theAist was quiet ct che following
otations:-Tennesseee ex coupon, cox slk;
do, new, COX q 81; virgfhias. ex coupon, a. a;
do. skies. consolidated bonds, 63x 81; do. skies,
deferred scrip. 1ox Tx; Georgia skies, n q rs;
do. sevens, 81 90; North Carolina, ex coupon, q
%; do, funding 1886, 10 IS; do. do, 1885, Is
II; do. new, Is II; do, special tax, Is q IA;
Missouri sixes ssh ssk; do, Hannibal and
st. Joseph 92h %; Louisiana skies, 40 q 81;
do, new, 43 a As; Alabama nves, As q so; do,
Fights, 70 so; South Carolina skies, new. January
and July, lax Is; do, April and October, 20 Q rs;
Arkansas skies, funded, IS q 40.
THE STOCK MARKET.
The stock market opened quietly, with less ap-
parent inclination on the part OF operators to
speculate than heretofore. This was doubtless due
to the feverish influences created by "Erie," to-
gether with the expectation that the morning
would develop fresh tactics on the part OF those
Germans who are accredited with the manage
ment of the attempted squeeze" As 1t turned
out, however, no signs Of coup d'etGt manifested
themselves and Erie drifted along very much on
its old current without exciting unusual attention.
As an evidence Of Its weakness. II de-
clined from 6lx regular to SO seller
three and from 62N to 60,s cash. In the early part
OF the day there was an exceptional difference In
favor Of the cash stock OF about IN per cent the
average price then being per cent. but later the
stock was loaned as low as y u per cent for use
until tomorrow This sudden falling away was
due to the potent fact that thousands Of shares
had been sent into New York by express from
surrounding localities to be loaned out where they
could do the most good and to the further truth
that most OF the shorts who desired to cover had
done SO and were out Of the market
RUMoRs
were current that the volume Of shares on hand
and at the service Of the street had been increased
by the arrival Of one OF the European steamers At
any rate, there was comparatively little exhibition
OF activity among either bulls bears. and 1t Is not
among the impossbilities that Erie will be per-
mitted to retire gracefully from the scene.
1t has not added to its popularity in the
recent movement, while those who managed il
are already beginning to suffer somewhat from the
discrimination which the prudent merchant will
always make between the truly conservative
banker who minds his own legitimate business and
the mere Spectator, who, abandoning for the
nonce his business Of selling exchange, jumps
wildly into an operation" that promises to turn
an honest penny, and leaves the public in doubt,
when his affairs are wound up, whether the capital
against which he draws has not become suddenly
suppostitlous. A bad example has been set in this
departure from the domain OF fixed business,
and it is to be hoped that 1t will not be repeated
The price OF Erie opened at GIN regular. 1t then
sold at 81 61x cash, with gradually diminishing
strength to 59z, seller B. At the close the figures
were &c. seller 8, and SIX.
GOOD BUSINESS
was done in Western Union, which was firm during
most OF the day. with prices among the larger
fractions OF 90 and several sales at 81 Ok. The
close was strong at 901. Pacific Mail again played
the coquette with the market, opening at 3SyX,
advancing TO 391s, receding again and finally going
as low as 36X with a late rally to 37x. Another
meeting OF the directors was held to-day, at which
the question OF q new mortgage was resuscitated,
but without definite result. 1t said that there Is
difference Of opinion among the members of the
Board. This would, in part account for the eccen-
trio fluctuations OF the stock for the last few days.
New York Central remains strong at lO4 o 1O4,S.
Lake Shore was held up firmly in the early part OIL
the day, going as high as o47S, but eventually it
succumbed to depressing and reactionary influences
which seemed to affect more or less the entire
range OF stocks. Panama opened at III, much
being expected Of it to-day, but fell or to 1867
and later to 115X. The speculation In North
western was renewed with attendant symptoms OF
future activity. The price was somewhat forced
down in the eagerness Of business, but 1t Is now
known that the stock has been generally dstrib-
uted during the past nve DAYS, ana dealings are
based upon the confident expectation, not OF a
''sharp." but Of certain, gradual and healthy ad-
vance that will give every one chance, at least
until the bottom drops out Of the general market,
which is not likely to occur for the present. Rock
Island sold down from Liz to 11Os.. Union Pacific
declined from 2ok to 2s1<, closing at 2sH. Wabash
in sympathy with the prevailing depression, went
OF from TAX to 71Z, but closed strong at 70. At
lantic and Pacific preferred sold at 26H. G., c. and
@. opened at S3%, declined to 321s and closed at
32H. Hannibal and st. Joseph was little ''on"
selling at 405s 4Oh q 40A St. Paul nuctuated
only about n per cent. Ohio and Mississippi ex-
hibited its strength between the figures Of 4Oh
Al, closing at the first named price. The market
generally showed recovery at the close.
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest
nrices OF the nrincipal stocks to-day:-