The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-15

Sc, against so IS the day previous. The general
tone OF the market was decidedly firm. The fol-
lowing were the closing Observation-Disclosures,
ex coupon, so COX; do, new, 90 . COX; Vir-
ginia ex coupon, IS q 80; do, registered stock,
DID, 81 a.; do. skies, consolidated bonds, 65x O
66 do. do. deferred scrip. Is 10; Georgia sixes
10 rs; do. sevens, 81 q 90; North Carolina, ex
coupon, S3h "a; do. to North Carolina Railroad,
So 90; do, funding, 1885, 26 49, do. do, 1868, "a
81; do, new, Is 81; do, special tax, 10 o IA;
Missouri skies, 90 q 93x; do. Hannibal and st. 10
seph, s9A Oh Louisiana skies, so SO; do, new, As
so; do. ievee skies, 80 IS; do. do. eights 90 70;
do. do. Fights, 1875, 60 20; Alabama nves.
so 90; do. Fights, SO 90; South Carolina skies.
40 81; do new, January and July. % %; do.
do, April and October, % a IS; Arkansas skies,
funded, IS a A.
GOVERNMENTS FIRM.
The government list was n better in pretty
nearly all the leading issues and closed firm at the
improvement. The amount of the days business
was below the average, however, as IL the invest
ment and speculative movement had both under
gone lul. The following were the closing quota
tions:-Unted States currency skies. 113H 1131;
do no., 1884, registered, 1854 115H; do. do, cou-
pom, l15M 110; do. fve-twenttes. registered,
May and November, 112T 11aH; do. do.
1862, coupon, DO, 113k 11sa; do. do 1864.
do. do, 113,4 113A; do. d. 1885. do. Go, 114t.
114X; do do, 1867, registered, January and July,
114K 1l4'S; do. do, 1855, coupon, do, 1l3sS a
1881; do. 40, 1887, do. do, 114A lis; do. do,
1868, do. do, 114X a IFS; do. ten-ferties, regis
tered. Ill 1111; do. do, coupon. Ill nix;
do nves OF 1881, registered, 111 1924; do. do,
coupon. 111H 1l2H.
DIVIDENDS, MEETINGS. &C.
The following additional announcements appear
in our advertising COlumns:-
The Knickerbockcr Fire Insurance Company have
declared an extra" dividend of I'VE per cent in
addition to the usual semi-annual dividend Of five
per cent.
An election for directors Of the reorganized
Marlposa Land and Mining Company will be held at
the company's oflces, "a Wall street, on Monday
next
STOCKS DULL AND STRONG.
The stock market was much duller as compared
with it's record earlier in the month, but curiousy
enough, was proportionately stronger, the tone Of
dealings toward the close encouraging belief
among the 'bulls" that "the January risen might
prove something OF reality after all. It is now
lntlmatcd that the wet blanket thrown upon
the market just after New Years was q
device to induce weak holders to sell
out and to induce short interest," both of which
objects were accomplished pretty successfully, the
reaction observable in the upward tendency Of
prices the past day or two being the natural con-
sequence OF the efforts Of these smaller spectators
to rectify their position as regards the market.
THE CHIEF FEATURE
to-day was rally OF over three per cent in Erie,
which yesterday morning was (conidentially)
going down to fifty on some startling development.
As usual in such cases 1.-THE point" proved bad
one to those who got it, for the stock Immediately
advanced as soon as ''the something startling"
was known, which, as will be by the report in
another column, was the authorization of an issue
OF ten millions OF seven per cent convertible gold
bonds. These bonds cannot be disposed Of at less
than par in currency, which they Will probably
command quite readily in the London market. The
proceeds are to be devoted to improving the road
with new rails, providing q double track on the
Delaware DIVISION and adding third rail- as q
means towards gradual alteration OF the road
to the narrow gauge system. The question of pay
ing
DIVIDEND ON THE PREFERRED
stock was referred to special committee. with
power to declare one II justified by the earnings
OF the past six months. 1t is asserted by one of
the counsel Of the company that the mortgages on
the real estate restored by Jay Gould had been
assumed and would be discharged by him as part
OF his obligations under the contract Of restitu-
ton. Another point" which also went badly was
the one to go short Of Union Pacific, the price OF
which ''iell DOWN. from 34,S to 35I-a way Of fall
ing that probably caused good deal Of unhappi-
ness in the vicinity Of Wizards this afternoon
among the lobbyists who stock fyer'' on the
strength of the resolution to withhold the moneys
earned by the company in transporting the sol.
ders and mails Of the United States. There Is not
the least doubt that the Union Pacific Company got
THE BETTER OF THE BARGAIN
they drove with Uncle Sam but the latter is In for
it, and unless he can repeal the constitutional
guarantee of the nviolabllity Of contracts the rail-
road company can hold him to the bargain, no
matter what Congress may do. Toward the close
Rock Island advanced to l11H, although the six
millions Of new stock will be due upon the market
in the neutrality-suspicious. signal Illustration OF the
futility of 'points." Western Union advanced to
s4s, because the company intend reducing their
rates, with view to killing Off all competition,
after which tf successfully they will make their
monopoly closer one than ever. Pacific Mail was
better at 712s a 70. The changes elsewhere were
for the better, but were not Of important extent
Michigan Central recovered to LOG.