The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-02-12

weak, and alter few sales az 81, were ohered
at 500. The changes otherwise were not
OF Importance and quotations closed as ioi-
iows;-Tennessee, OK coupon, 80 a soh; 90
new so s0<; Virginia, ex coupon, 47a 5o do regis
tered stock, Old 81 a 40; do. SKIES, consolidated
bonds, 55A 55%; do do. SKIES deferred SCRIP ~ d
10; Georgia SKIES rs SO; DO. sevens, ~ W.
North Carolina, eX coupon, 81 a 3i1s; DO 10 Horth
Carolina Railroad, 60 ~; DO. funding, 1866, 20 a
2S; do. do, 1865 % a &c; do. new, 10 Zo' no.
special tax, 10 14 Missouri SKIES, 9fA
95, do Hannibal and st. Joseph, 81 90;
Louisiana skies so q 80; DO. new, 45 so; 90.
leyee SKIES so co; do. do. Fights, 60 10; do do.
eights, 1875, co n IS; Alabama fves, 81 62; do.
Fights, SO a 81; South Carolina skies, 40 n SO; do.
new, January and July, % 22k; do. do, April
and October, 245a 20; Arkansas skies, funded 40
o So
GOVERNMENTS FIRM.
With the exception Of q slight yielding in the CTS,
which were fraction lower, the government list
was arm. There was also manifestation OF its
previous disposition to take its tone from the
ruling OF the gola premium, sympathy with which
was disturbed by the agitation OF the introduction
OF the latest instalment OF the new five per cents.
better demand'for the latter led to closer and
less nominal quotation, the range OF which was still
considerably below the level Of
PAR IN GOLD.
The following were the closing quotations.
United States currency SKIES ll5 1862 do skies,
1884, registered l171S MY; do. do. do, coupon,
1857 llS3s; do. ive-twenties, registered, May and
November, 1864 ll5A DO. do, 1862 coupon, do,
1854 ll5ts; do. do 1864, do. do, ll54 ll5A; do.
do, 1865 do. do, 1861 1155; do. dO 1867, regis
tered, January and July, 1l4a 1l4A; do do, 1865
coupon, do, 1l4& l141s do. do, 1867, do. do,
ICY 1862; DO DO, 1865 do. do, 1903 1l61a;
do tan fnrta ,ln IN
coupon, 1l4a 1l4ai; do. fives of 1881 registered
ll3A 1871 do. DO. do, coupon, 1l3E q Il3A.
STOCKS ACTIVE AND LOWER.
The stock market, after an early display Of
strength which barely Outlasted the first session
OF the Board, underwent a further and more active
decline in prices, its appearance at times suggest
ing very strongly the advent OF "a bear market"
1t is minated that the views OF most OF the pro-
fessiona spectators have undergone n radical
change within the past few days as a consequence
of the untmely and unexpected scarcity Of money,
and that "bear' campaign of two or three weeks
will not only be more in harmony with the
natural tendency OF the stock market under
such circumstances, but will pave the way for
more active speculation when
THE "sPRTNG RISE"
comes. AS matters now stand, with money scarce
and likely to remain for several weeks more,
and with the prices OfstOcks too high to tempt the
public appetite the situation holds forth but faint
hope Of successful operations on the "bull' side
until these unfavOrable conditions are in some
way considerably modified Hence the cliques and
professional spectators, with unanmity not sur
prlsng, are gradually beginning to cross the fence
and place themselves in a position to take ad-
vantage OF a fall in prices, the realization OF which
expected contingency will be a more satisfactory
preliminary to
FRESH DEPARTURE
on the upward turn and ensure more suspicious
beginning Of 1.-The Spring rise.' At least such is
the argument of the operators who are now look
ing for decline, and it goes far to explain the
which the market manifested for drifting
down the stream OF prices. The 'lockng-up" !
operations which were revealed TO slight extent |
TO day are only part OF the programme for helping !
the censummaton OF the speculation. The force !
Of the adverse current thus Indicated as setting in
upon the stock market was signaly Illustrated in
the case of Erie, which declined a per cent in face
Of the action OF the directors declaring
DIVIDEND
Of 81 per cent on the preferred and z on the COM
mon shares, both OF which dividends, as shown by |
the books of the treasurer and auditor, had been |
airy earned. Meantime the reader will remember
hat the HERALD anticipated this action OF the COM
,any as early as last Sunday morning. The proceed
operations OF the road will be found at length an
column, together with Geographic an
louncements of the successful negotiation in Lon
Ion of the new convertible Erie loan for ten million
Of dollars. After the decline in Erie the more inn
porant decline was in Western Union Telegraph
10 S7%, if we take no cogniZance OF
TUMBLE
to 81 in the lately introduced Atlantic and Pacific
stock which, If conjecture be true, has been
"wasnedn enough to make it the cleanest thing on
the entire stock list If the boys had all 'tumbledr
before this calamity then no harm has been done,
but it is to be feared that not few OF them were
more or less 'long' Of this ambitiously named
stranger The safe arrival of the Henry Chauncey
advanced Pacific Mail to 10 in the morning but |
failed to save /, from declining with the genera |
few exceptions. the lowest Of the day, and the low
est in many instances for several weeks In the !
case OF New York Central, which went OF to I03sS !
IL was said that the put" alleged to have been |
given the John Morrssey pool by Commodore Van
derbilt, would soon expire, and hence the unload.
ing OF the stock
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest
prices of the principal stocks during the day.
highest. LOtCesf. !
New York Central. .l04% 1889 !
Ere OBSERVATION-DISCLOSURES. b6M Co., |
Lake SnOre... ................... wa nb3s |
wabash OBSERVATION-DISCLOSURES. 731 52la !
Northwestern ACKNOWLEDGEMENTS 50 SO
nfarr a1