New-York tribune., 1871-01-11
,ECOND BOARD, J.. NJ.
TUESDAY. Jan. l0-P. ".


The stock market maintains its firm look,
and in some instances has advanced fraction over quo
tations of Monday. The largest dealings upon the
regular morning call were in Pacific Mail, New-YOrk
Central and Lake Shore, all Of which were higher the
improvemen in NewYOrk Central, however being very
slight. The volume of business, judged by the printed
list would appear to be increasing; hut the Long
Room" which the true test OF the mar
ket tell another story. Inquiry among the commission
houses develops the fact that increase OF orders mas
been noticed in the shares active in speculative move
ments and further investigation Of the movements at
the Stock Exchange shows that the buying comes mainly
from professional peculator who having large inter
ests now are anxious 10 naugurate an advancing mar
ket Hence they who keep close watch upon the stock
weather see no prospects of real change for the better
in the senblance Of sunshine which Interested parties
manufacture for the market Mr. IIatchs Circular NO.
" seems 10 have had stimulating effect upon prices
by provoking opposition from the friends OF the enter
prise attacked in that document and the bears may well
fear the influence Of mo q" The trouble with this
circular IL that although In gard the watering
Of NewYork Central and Hudson River it proves moth
ing against the real value Of the waered stocks The
circular also states that the building Of $1,000 miles
Of railway, with the Increase of " commerce and
wealth." has been accomplished within "twen-
ty years." but the truth is. that in 1851
twenty years since) there were lO,9s2 miles com
pleted This may not be- important error but should
moi he made by any who intends 10 enlighten the
street Again. the circular states that "not dollar of
this amount waerng9 has gone into The roads nor has
their capacity been increased by single penny"
Now in some Of these waterngs" money has been paid
in and the roads have had the benefit Of it, in, for
ample the freight depot at 81. Johns Park and in
double track, stree. ras and increased equipment IT,
then increased facilities for handling freight have been
added If in double track and street rails and larger
equipment the roads have been improved, why should
II be said that the capacity OF the roads TO has not
been increased single pennyi" The real question is,
does the New-York Central earn sper cent mel the
watered stock, honestly and fairly! Are the accounts
eookedi Are net earnings made 10 appear larger by
charges construction account which should he taken
out Of earnings. II Mr.. Hatch demonstrate this he
will crack Commodore vanderbs nut, but il is not TO
DC done by loose gcneraites.
About midday the market yielded fraction, though i'm
subsequent transactions the figures again reached
Erie in exception weak and declined from 22t 10 2lt
with late reaction 10 o. The present upward turn meets
with little resistance from the operators for decline,
who, apparently, encourage the higher range While
business has been well distributed throughout the active
list the more important features New York Central
Lake Shore, Northwestern preferred Rock Island ST.
Paul preferred and Western Union Telegraph. The Han
niba and e. Joseph stocks also well represented.
Union Pacific securities also frmer, owing TO the
favorable condition OF the affairs OF Oakes Ames. We
note sales Of Delaware Laekawanna and Western at
0lOi2 Morris and Essex s3i, and Dubuque and Sioux
City, co. Miscellaneous and express shares firm.
The following table elbows the highest and lowest prices
OF active stocks made to-day: