New-York tribune., 1870-12-14
SECOND BOARD, LIT NJ, AND "a O'CLOCK
Gals Of sLx BOds-Bank and Raiirodd-b1pTe
TUESDAY. Dec. 13-P. ".

Stocks were firm at the opening of the In
change to day at the closing prices OF yesterday
but as progressed there was more disposition 10
sell and prices weaker The market has Tor sew
eral DAYS had the benefit OF the buying OF the shors
and the temporary support of the bulls and under these
raying influences has advanced on two OF three OF the
leading stocks; but these props are not permanent
enough 10 give the market real strength. 1t has been
rcported that some OF the leading SPECTATORS whose
interests mainly In other stocks have been the geS
BUYERS Of NewYOrk Central with the intent OF carrying
the Idea that the Vanderbilt party were IN the heu
again, and thus IN strengthening leading STOCK 10
exercise favorable influence the shares which are
held so largely cques There may be some truth III
these rumors as the movement IL not lacking In shrewd
ness II is alleged, too, that the gentlemen VINO
have hitherto successfully followed the Com
modore in Central largely interested in the
Western Union movement, and that the recent dechhe
I'm New York Central partly owing 10 thelr sales III
order to give additional strength to the Telegraph stock
AT all events the only stocks which have displayed mueh
strength in the recent rally were New-iork Central
Reading Lake Shore and Western Union. The advance
in Reading was partly due to large short interest ana
Western UniOn II is well known, Is indebted 10 cIlqe
support for its strength and activity The stocks which,
according precedent should have advanced upon he
declaration of dividends being the NorhWesterns and
ST Pauls have actually declined from Ia per cent
since dividends were declared. IT, "a some people ap-
pear to think There is prevalent confidence III the
market values Of railway stocks and If we have
exaggerated the business at the STOCK EXchahRe'
IL il very strange that the response to liberal
dividends should he decline In the stocks The truth Is
that species dry rot" is going in many of our
railways the effect s injurious to some OF the besj
lines within few months we have had decline In the
Boston market oehe Hartford and Erie from 20 down to
o. with development Of mismanagement and reckless
speculation nearly equal TO the great swinde in the La
Crosse road, in 1873 We have fall, also, in the san
dusy Cleveland from 81 down TO II, and in the In
diana polls and Cincinnati from 25 down To G; while
Union Pacific after touching 49, and attracting consider
able attention here by active blowing, dropped, with
feeble legs down l6, at which point il still tOteTs
Two Of these are old roads, and one-the Indianapolis
aud Cincinnati-buta few years since selling above
par and paying dividends. These example striking
and fail to impress people with some idea of the
extent To which railway imitation has recently been
carried
In the afternoon the market duh and but fcebly
sustained. Western Union sold down to 45., and the
Northwestern stocks quite heavy. Newfork Cen
tral was dull at 9, Investment shares were dull and
Express stocks neglected. The following table shows
the highest and lowest prices the stocks therein men
toned: