The New York herald., 1871-06-09
asa, Tor Europe, took out only $4,000.


Currency balances. .................. 2,IZ79l4
The Hansa, ior Europe, took out only $4,000.
GOVERNMENTS STEADY.
The government list was dull, dealings being in.
terypled by the suspension OF the afternoon calls TO
make way for the workmen engaged upon the
alterations at the Stock Exchange. The market was
steady throughout the day, and closed with the fol-
lowing street qu0tatlons:-Unied States currency
SKIES, 1853 ll5gs do. do 1881, registered, ia
1l414; do do, coupon, 1l7,S 117h; do. fve-twen-
ties, registered May and November, 112 1l2k; do.
do, 1862, coupon, do, liz 112ti; do. do, 1864
do. do, IL 1925; do. do, 1866, do. do, 112 q
l121s; do. do, registered, January and July, 110Z
Ill; do do. 1865, coupon, do, lax 1143s; do
do. 1867, do. do. 1lfA 1l41S; DO. do 1858, do
do, 114& l4h; do. ten-forties, registered. 1o9K
109H; do. do., coupon, 1c9N 10.
THE NEW LOAN.
The additional subscriptions to the new loan TO-
day 500, 600, making the total subscriptions
and conversions to date $66,711,s $50.
THE LAKE SHORE EXTRA DIVIDEND.
The directors of the Lake Shore and Michigan
Southern Railway Company held special meeting
this afternoon the oce OF the Union Trust Com
pany, TO consider the question OF Increasing the
capital stock from present figure, $35 00o 00O to
the full amount authorized by the articles OF
consolldation-viz $50,o0 900. The proceedings
were conducted with closed doors, but 1t
is intimated that division OF opinion existed
the percentage or cash to be called up return for
the award OF the additional stock to the present
stockholders. The matter was finally compromised
by the unanimous adoption Of the following resolu
tions leaving the stockholders to settle the matter
by their vOtes:-
Resolved That 1t be recommended to the stock
holders Of this company to authorize the issue OF
the 600 OF the capital stock OF this company
remaining unissued.
Resolved, That meeting of the stockholders OF
thus company be called TO be holden at the city Of
July next at eleven O'Clock in the forenoon, to vote
upon the question OF such an authorization.
Resolved, That the secretary do forthwith give
the notice OF such meeting and Of the object thereof
in the newspapers, to be published In each OF the
cities OF New York, Buffalo, Erie, Cleveland and
Chicago required by the third article OF the con-
sOlidatiOn agreement OF June ~. 1869.
,n Sr TO ene e
authorizing such issue the stock transfer books be
closed on the Goth day OF June inst. and that the
same remain closed until the further order OF the
board.
The directors further voted q semiannual divi.
dend OF four per cent free Of government tax pay
able August 1, the transfer books closing June 20.
THE WESTERN UNION TELEGRAPH COMPANY.
At the semi-annual session OF the board OF
directors OF the Western Union telegraph Company
a report was submitted by the President, Of which
the following is synopsis
Tho net profits flom July 1, 1889, to July /, 1870,
were 227,o45 The net profits for the year ending
June l. 1871. were S2,547,s54. For the six months
ending June l. 1871 the net profits $l,2l6 459.
The resources OF the treasury have been applied 10
r OF as capo wh mas been sn
company had $4,000 miles OF wire; IN 1870,
10000 miles; In 1861 3.o61 Offices; In 1s7o 4,2oO
oiices In 1867 the company transmitted 100000 or
messages In 1870, S,0ooo00, exclusive OF press
sges; the gross receipts in 1867 were So 900; in
1870, So, 352 750: construction OF lines cost In
1867 S4I5,0Oo in 1868 $355000 in 1859 $673,0OO in
1857 Was 81 8. and the average expense for eacn
message 81 03 In 1870 the average OF tolls on mes
sages was 93c. ana the average expense or each
message 64c.
STOCKS WEAK AND FEvERIsH.
The stock market weak and underwent two
distinct violent fluctuations. In the forenoon heavy
sales were made OF Rock Island by leading broker,
which carried the prce down from l2is4 to l20a<.
Nothing bel ng known OF the results OF the stock.
holders and directors meetings at Chicago
the street was inclined to act on the
belief that no news was bad news, espe-
cialy as the unloading OF the operator referred
to created suspicion that the clique had quarreed
and broken up. The list generally sympatnized
with this decline but. OF course. to o mucn less
extent, and showed signs OF strong recovery un,i
the donothing action OF the Lake Shore directors
was made public The disappointed holders OF the
stock began selling, and the price or Lake
shore ran down to 1i3S, carrying with It the
rest OF the market, as Rock Island had done In tho
forenoon. The public are, as usual, greatly
"mixedn as to the effect which the action OF the
directors OF Lake Shore will have upon the stock.
With earnings in 1870 which amounted to only nine
per cent upon the present capital the prospect OF
an eight per cent dividend upon nearly one
and half times the present capital
is not very brilliant one. Doubtless
the capacity. of the road to earn
larger dividend would be insured by additional
faculties In the way OF double track and more
rolling stock but such extra equipment would
require heavy outlay Of cash. with which the com.
pany Is almost unprovided. Tue means could be fur
nlshed by sclnng the proposed new stock to tho
stockholders at o per centagc. Doubtless this per
centaQe Will be tho question ut issue wnen
the meeting OF the stockholders takes
place. Meanwhile, looking at the stock from
the standpoint OF "the street," and therefore, In
speculative light 1t Ia hardly probable that the IN
side controlling parties did not proytle themselves