The New York herald., 1873-07-09

st. LOUIS, Alton and 7. IL. o4.5S5 slO2,75o
st. Louis. Ait. n T. H. branches 35,545 s45.526
st. Louis. Kansas City and Mo. 2l3,764 199,9os
Toledo, Wabash and Western. 462S6s 64l,191
Total ..................-..$7 7,oss5l5 ss,65o.l2o
The net increase for the past six months
n"s peeh..'.. ....$4 ZzS009
GOVERNMENT BONDS
In consequence OF the stronger character OF the
market as reelected by the prices OF gold and ex-
change, government bonds were to-day subjected
10 active demand, especially from foreign capt.
talists. Prices advsLced, and at the close Of
the day were reported as follows.-United
States currency skies, 114h 114x; do. SKIES.
1881, registered, 1l7x l17h; do. do. do,
coupon, 119k 1l9k; do fve-twenties, registered,
May and November, 1l6k III; do. do, 1862,
coupon, do. III 117k; do. do, 1854, do. do,
III o ll7k; do. do, 1856. do do, 11sK llsZ; do.
do., 1861, registered January and July, l15A q
11e; do. do, 1885, coupon, do, 117K MY; do.
do. 1867 do. do, 11s 11sh; do. do, 1868, do
do., ll7h us; do. ten-forues, registered ia a
nay; do. do, coupon, 1l4K 114x; do hves OF
1881, registered, coupon, 114K 114A.
SOUTHERN SECURITIES
were dun New South Carolina skies. January and
July sold at 15x, Missouri State skies at 93x, new
Tennessee skies at so and old Tennessee skies at
SoK. The latest bids are annexed Missouri
skies, s2A; Tennessee SKIES, old, SOY; do. new,
7sh; Virginia skies, old, 4s; do new, so; do.
skies, consols, Sax; North Carolina skies, old, 81;
do, new. 49, do, special tax, 124; South Carolina
skies, 80; do, January and July, Is; do. funding
act 1885, II; Louisiana skies, new, AZ; Arkansas
sevens. Little Rock and Fort Smith Railroad ISSUE
20; do Memphis and Little Rock Railroad, 20; do,
Little Rock, p B. and New Orleans Railroad, 20;
do, Mississippi, Ohio and R River Railroad, 20;
do, Arkansas Central Railroad, 20.
THE STOCK MARKET.
n is q long time since the Stock Exchange has
been the scene OF such lively business as was
transacted to-day, and II the signs are to be
trusted we have entered upon the Summer cam
patgn," so long and 80 anxiously anticipated. Out
side orders, on the one hand are giving substan-
tial encouragement, while the tone OF the market
itself, as illustrated by the Improvement in
spirits have again entered tho arena and are
putting at work influences calculated to
give new and brighter color to the
situation. Nor are these influences entirely arti-
ncial in character. Stocks are in sympathy with
the natural growth Of the country A rail-
road may be loaded with debt yet each year
witnesses its wealth enhanced, its usefulness en-
larged and its dnal purpose nearer successful cul-
minatton than before.
A SPECULATIVE VALUE
attaches to almost every security that is quoted
a value that ebbs and nows according to the freak
OF the hour; but at the bottom there is
usually something substantial and In the
end, when some fortuitous combination of
events develops real strength, thousands are
astonished that they did not discover and
make use OF the fact in time. The movement in
New York Central, in Rock Island, In Lake Shore,
in Wabash and the past history Of q number of
stocks once powerful yet now holding but mini
mum of the confidence Of the community exem-
pfy the thought and show that 1t is prudent to be
prepared at any moment for renewed activity
generated from reserved forces, adaptive opportu-
mites and enterprisng generalship.
THE VOLUME OF BUSINESS TO-DAY
was large, with more than usual strength along the
line, prices advancing during the morning from
u to per cent although followed by some decline.
Erie was exceptionally weak, owing, perhaps, to
the non-declaration OF o dividend, uncertainty
incident to the election or new directors and the
London quotation. The stock opened at e2k and
suffered pounding down to 6oX, with final recov-
cry to 61h.
NORTHWEST COMMON
invited more than usual interest, and gave token
of an activity that has not attached to the stock
for several months In fact at late hour
too late to produce any effect on the market
1t was whispered that very large block OF the
stock had changed hands and gone under control
OF the friends Of the road, and that very few days
would probably witness Northwestern back again
in its old place among the lively speculative securi
ties OF the market. The opening figure to-day was
| II, from which there was gradual recession to
| 69k. In view OF favorable information concern.
ing the income and condition Of the road its
| friends predict for IL brighter future.
Western Union sold at SAX, improved at the first
board to s5h, but later succumbed to the general
depressing influence, and closed at s4x. Pacific
Nail adv ncpdt IN woa
tanned at the higher prices, though showing de-
cline at the emo to a61, 81 a7H. st. Paul rose from
SIX to 52H, losing y per cent at the close. New
York Central opened at 1884, advanced to 104 Y,
but receded ana closed at 1881. Lake Shore
began work at s6x, went down for moment to s5,<,
but recovered and closed at GO Union Pacific sold
at 2eI 2e%, as7 q 27n: Toledo and wabash at
69x 70 d fon q 70k 7oi6 70h. Rock Island de.
veloped considerable activity, the fluctuations
being between 1loh and 1l17s, with final decline
TO 1lOH; Hannibal and Sc. Joseph sold between
ss1 and 40h; Ohio and Mississippi was steady be-
tween 39k 39l: c., G. ]. c. rose from 2Sz to
29h: Harlem showed rise OF per cent from 12e1z,
the opening price. Delaware, Lackawanna and
western sod at 9s 9Sk.
HIGHEST AND LOWEST PRICES
The following table shows the highest and lowest
prices of the principal stocks to-day
Highest. Lo,cest
New York Central. 1o4I 103ss
Erie.. ACKNOWLEDGEMENTS. 62k coz
Lake shore. 96x 50
wabash. ACKNOWLEDGEMENTS. 70H 69X
Northwestern. II 69n
Northwestern preIerred........ SIX S1x
Rock Island. 111k 110h
st. Paul.. ul......................... 52x 51X
st. Paul preferred. .............. 70 72x
Ohio and MISSISSIPPI. ........... 39X 39k
Union Pacific c................... 2713 26X
c.. C. and !. I.C................... &. 29H 2sX
western Union Teegraph...... 851 SAX
Pacific Mail. il...................... 37I S6X
THE ERIE RAILROAD.
The annual election OF directors OF the Erie Rail-
road for 1873 took place to-day and elected much