New-York tribune., 1868-06-27

large dealers who have Geen unable as yet to pur-
chase any large amounts at quotations, and are
anxious to supply themselves so that tEey
NAV be enabled to supply the demand foy
investment after the July dividends are paid
State bonds were lower free sales to realize profits
Tennessee. ex coupons, sold at ut; new IS at 76s
North Carolina, ex coupon, T1s; new bonds at 75I.
Virginia per cents were steady at 5Ss for the ex
coupon bonds, and So for the new issue The short
interest in both classes of these bonds continues to
be very large, and they are in active borrowing
demand Should the shorts be forced into the mar.
ket as buyers to cover their contracts. sharp adj
vance will be shown in the price Railway bonds
continue firm with small offerings. Pacific Mail was
dull at 1O201O2l and declined to 1905 at the close.
Express stocks were heavy, and declined. Adams
sold at ST. Wells Fargo, 25; American.
al; United States, As; Merchants Union, 25
The Railway share market presents no new feature.
New York Central and Erie continued duh. Reading
was active and advanced to 10fs, at which prices
there were heavy sales to realize. Michigan Southern
was in demand, selling at 922--ths advance was
caused by purchases to short contracts; hold
ers of the stock are unwilling TO sell atquotations;
the resumption of cash dividends at an early date
will place the stock out of the speculative lst ana IL
will rank with Michigan Central and Chicago,
Burlington and Quincy as an investment. Inc
majority of the stock has been absorbed Dy
investors and but small amounts are offered at the
advance. The Northwestern shares continue
active with continued desire TO buy by parties who
are satisfied by the large earnings Of the road as to
its ability to pay regular cash dividends in the future
The Preferred stock has been heavily sold short by
operators who have expected that an injunction
yould break the prices of the stock and thus enable
them TO cover without loss. Should the Courts
decide that the scrip dividend is illegal, and
issue a permanent injunction its payment,
il will not relieve the bears they will be forced
into the market as purchasers to cover their CON
tracts the value Of the stocks will be enhanced by
the non-payment of the dividend fairly earned, butt
used in construction and the early resumption OF
cash dividends now assured it is presumed will not
be enjoined either in New-York or Chicago. Ihel
operators for that account basing their vlows upon
the prices of railway property in 1862 are as yet una
bic TO see any value in this class of property but the
real holders are men who have been in the active
management of railways for the last 20 years,
and are well posted as TO the development
and growth Of the West, and are now
10 reap the reward for their investments and develop
the resources Of tho country Fort Wayne was active
advancing to ll2s. At the Second Board State Bonds
were lower. Express shares improved fraction
Erie was strong and advanced / per cent from the
lowest quotations of the day. and large transactions
after tho call At the close the market was firm
with an active demand TO buy. Erie sold at 7Of
New-York Central 1885, Government bonds closed
a.. of nta Of