The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-17


lowing were the closing quotations:-Tennessee,
ex coupon, rs 7s%; do, new, 70 80; vir-
ginia, ex coupon, As a SO; do, registered stock,
old, 80 a AZ; do. skies, consolidated bonds, 55A
55z; do do. deferred scrip, Is Is; Georgia skies,
II a 80; do. sevens, 81 90; North Carolina, ex
coupon, SO a 331s; do. to North Carolina Railroad,
So 60; do, funding, 1866, 25 2S do. do 1868, "a
81; do, new, Is %; do, special tax. 10 IL;
Missouri sixes 92A a 93k; do. Hannibal and ST. Jo-
seph, so 81; Louisiana skies, so So; do, new. so
54 do. levee skies, SO SIS; do. do. Fights, SO 70;
do. do. Fights. 1875, SO a 20; Alabama Fights,
IS So; South Carolina skies. 40 a so; do, new,
January and july % 22H; do. do, April and
October, % a 251s; Arkansas skies, funded 35 AZ.
GOVERNMENTS BUOYANT.
The government list was bucyant at further
advance in prices, the most conspicuous improve
ment being in the '67's, which rose to 115A 1851.
The increased strength Of the market would be re-
ferred to the higher price of gold did not the cur
rency bonds also share in the advance. This in
fuence was not. therefore, the exclusive one at
work. but was helped by the demand tor bonds
both on private account and for foreign export
The demand from domestic buyers is steadily on
the increase with the relaxation in the money
market, Illustrating the amount OF capital which at
this season is seeking investment fact further
confirmed by the demand for railroad bonds
already adverted to in the preceding portion OF
this article. With the currency skies at ll4A and
the 67s at 1854 it is quite evident that this capt.
tai is
CONTENT WITH FIVE PER CENT
interest. The activity in government aud railroad
bonds is in striking contrast to the duiness in
railway and other stocks. The following were
the closing prices:-United States currency skies.
1l41S 114h; DO no., 1881, registered, 1857 115h;
do do, coupon, 1865 1854; DO hve-twentles reg
istered, May and November, 113,4 1877; do. do.
1862 coupon, do. ia ll4h; do do 1854.
do do, 1l4h 114H; do. do, 1865, do. d., 1857
1157S do do, 1857, registered, January and July,
1l4h a lis; do. do, 1865, coupon, do, ia a
114h do do 1867, do do, 1854 1851; do. do,
1885, de. do, 115 q 1851; do. ten-fortles, regis
tered. 10Y Ill; do. do, coupon, Ill q nix;
do nves of 1881, registered lex interest), 110H
11OZ; do do, coupon, l11A 112A.
STOCKS DULL AND STEADY.
The stock market was dull in its general fea-
tures the Indifference OF the speculative element
being quite disappointing to the theorists who
predicted an active movement upon the advent OF
an easy money market. Certainly the latter con-
dtion has been fulfilled to all intents and purposes
so far as the street is concerned, anything below
I per cent being o matter OF concern with the
brokers, and not with the professional class of
operators, whose accounts. always carry the full
rate OF interest, whatever may be the rate on the
sidewalk or at the Board The market, while
steady in the average results of the days changes,
was irregular in It's details, Western Union, Union
Pacific and New York Central being firm and
higher, while Pacific Mail was CORRESPONDENCE
weak. Indeed,
THE MONOTONY
of the day was relieved at a late hour by sudden
active decline in this last stock, which broke to
697s, the lowest point reached since the "switch-
back' movement from 1881. The 'bulls" and
"bearsn had indeed desperate contest over
Pacific Mail in the last fifteen minutes Of business.
During this time about twelve thousand shares
changed hands at 69X 70, the reaching Of
which quotation was the signal for the execu-
ton OF large number Of orders to buy, as well as
to SELL the latter being what technically known
as ''stop ORDERS" The activity was attributed to
q new deal among the Pacific Mail operators in
connection with the prospects OF the
ST. DOMINGO
movement, the President OF the SANTANA Bay Com
pany being also the President of Pacific Mail.
One rumor had it that the price was to be de-
pressed several per cent to enable the Stock
well party to take fresh departure, and
another represented that the contemplated
St. Domingo extension or complication OF
the operations of Pacific Mail had Disguised the
more conservative class Of stockholders who sold
out OF the concern in consequence. Erie fell of
with the downward course OF the London market,
but recovered y per cent later in the afternoon.
Central seemed directly Influenced by the closing
ease of the money market as 1t advanced to 1925
subsequent thereto. The continued recovery in
Union Pacific was
FURTHER SURPRISE
to those who had specialized for a decline on the
expectation Of depression to follow the action OF
Congress in seeking to withhold the money earned
for government transportation service, the sales
advancing to 81 which is about the point from
which the decline on this account started In the
rest of the list the changes were within an average
limit of u per cent. The shares OF the reorganzed
Mariposa Company advanced to 25 and Michigan
Central recovered to 10S.
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest
prices OF the principal stocks during the days
Highest. LO,cest
New York Central. ............ 1925 101H
Erie ...........................6 81 59X
Lake Shore. .................... 92z 929s
Wabash Observation-Disclosures, 1885, 70
NOrthw eStern... mo IranSactlOnS.)
Northwestern preferred. ...... 80 50