The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-11
GOVERNMENT BONDS

tered January and July, llAx ll6; DO. DO, 1900,
coupon. do, 1854 ll6K; do. do, 1867, do. do,
l1ek 1lsk; do d., 1863. do. do, I1ek; do. ten
fortles, registered, Xix u2k; do. do, coupon,
111x 112h; do. fives, 1881, coupon, Xix liz
SOUTHERN sKcURTTIIs f 4oI
Tho chief activity In this department at the
Board was shown BY sales OF Virginia skies, de-
ferred at H. North Carolina funding act OF 1885, at
II; Missouri skies az 9lX, new Tennessee skies at
81 Virginia SKIES, consolidated, at b1A, ana new
South Carolina skies, January and July, ut lax.
The following are the quotations :-Tennessee, ex
coupon, 81 aSlX; do. new, 81 SIX; Virginia, ex
coupon, ~ A; do. skies, consolidated bonds, SIX
SIX; do. skies, deferred scrip, TX 12X; Geor-
gta SKIES e5 76; %. sevens, 80 Of; North Caro-
lima, ex coupon. 81 . %; do, funding, 1886. II .
IS; do. do, 1858. 10 II; do, new, I5X II; do,
special tax, II 10; Missouri sixes OK 91X do.,
Hannibal and st. Joseph, So 90; Louisiana skies,
IS 49 do, new, 43 As: do, levee skies, So 90;
do. do, eights IS q 90; Alabama hves, II q so;
do. egnts, 10 80; South Carolina skies, So; do,
new, January and July, II Is; do. do. April and
october. 20 q %; Arkansas skies. funded, SO Q 40
THE STOCK MARKET.
1t Is almost an impOssbluty to diagnose the con-
dition Of the stock market at the present moment
it has no foundation. 1t is tremulous, uneasy and
quickly affected by rumors. 1t acts "a II calamity
were impending or expected, and rather invites
than repels encouragement. The " bears " for the
moment are in their element, yet even these are
uncertain in their work. The "bulls,n wary and
patient, confess the immediate situation, yet see
nothing to prevent
SUDDEN REACTION
to the benefit OF their holdings. In short, the
street is in that plastic humor which will take any
sharp impression, mould 1t for the moment to its
purposes, and as quickly destroy 1t for speculative
gain. The old habitues Of the Exchange say
that 1t has been long time since they have
seen similar position OF affairs, the combinations
being entirely new, and the possibilities such as to
disturb the best arithmetcal calculations. One OF
the bad features OF the hour is the disposition on
the part OF few to create panic at the expense OF
reputation. The names Of c. rl
RESPECTABLE HOUSES
are ruthlessy dragged into publicity, and banded
about the street In connection with suspension
and failure, and capital Is sought to be made out Of
commercial dellnquencles which, at other times,
are passed over as only temporary and incident to
the fluctuations OF trade. When "bear" market
IL thus forced to resort to such devices in order
to achieve its ends they are anything but healthy
symptoms. 1t Is useless to ignore the fact that
prices are descending. Suspicion more or less
rests upon the presidents and directors OF our
great corporations, because they keep known
sequence that just now, when t t.t r.-.
-.1 ri EVERYTHING IS TUMBLING,
shareholders and SPECTATORS alike. feel more than
ordinary concern with reference to the use made
OF their investments, and, doubling, get rid OF
them. The chief episode OF to-day was the rumored
suspension OF large German house, on the
strength of which Canton--a stock supposed to be
largely held by itfell of several per cent. score
OF Exaggerated statements followed. At the last,
however, it appeared that the firm alluded to was
not only amply protected by It's own securities but
could command an abundance Of credit from its
friends the street to protect 1t from any sudden
contingency that may have been forced by Its
worst Toe. These malicious reports only increase
the elasticity Of reaction. The m
ilr4nl BUSINESS OF THE DAY
was comparatively large. the sales at the Board
amounting to about 1l4,0O0, represented as fol-
lows:-Atlantc and Pacific preferred, l,4oo; T., G..
IL. c., LOO; Rock Island, 1900; Canton, 1475 !;
Northwest common, 1880; Erie, 1890; Lake Shore,
1887; st. Paul, 1900; New York Central. e,37o {;
Ohio and Mississippi, 10, TOO; Pacific MAIL q, 200;
wabash, 1900; Union Pacific, $500; western
Union, IS, 900. AS above indicated. Canton 1uc-
tuated widely the price declining from 90 to IS,
advancing to 90 reacting to 81, and closing al
SO d SO. Those who are inside OF the history OF
this stock under Its recent administration, and are
familiar with its value, profess to be gratied at
the opportunity thus offered to buy at the low
figures named, and it is understood most of the
stock onered was absorbed by European houses.
The general range OF the prices OF other shares
was about as follow western Union sold at s9x
a 500 S9K sssS S97s assH; Pacific Mail at 42,s
a Az 427S AIS a Az Lake Shore at 81 Ok
9oM; New York Central at 10394 104 1881 |;
wabash at 65}4 651l 62% 64>< So; Ohio and
Mississippi at $50 a 37tS a SIX S71s Rock Island
at 1867 q 1o7H 1861; Northwest common at oOA
a go; st. Paul common at 46X Al 46l4; st. Paul
preferred at go a 6s; Union Pacific q 25sS 257S q
25k; c., G. and l. G. at 2sh 291S 2s11 90 a2s1 (;
Harlem at 1917 129, and Delaware, Lackawanna
and western at ssHa co. Erie opened firm at
5sX, but later receded to 5s1s. The other changes
were slight.
HIGHEST AND LOWEST.
The following table shows the highest and lowest