The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-07-28
GOVERNMENTS STRONG.


The government list was srong despite the lower
ruling OF the gold market. the smaller fluctuations
IN which have OF late been devoid of influence on
the prices Of the former The tenfOrties advanced
a per cent IN London occasoning similar i'm
provement here The following were the closing
street prices after very dull day:-Unod states
currency skies, 1884 ia; do 1881, registered 1l6
116i; do. do coupon, 116 1l6id; do. hve-twenties
registered, May and November 1872 1884; do
do, 1862, coupon, do, ia l4'l; do do, 1864,
do do, 113S 1l3A; do. do, 1885, do. do, 1l3eI
1885 DO. do.. registered, January and July, 1l2}s
1l3; do. do. 1866, coupon, do, 1927 1l29s; do.
do, 1861, do. do, 1873 113; do. do, 1865, do.
do 1925 ll3; do. ten-iorles, registered, ll21a a
112a4; do. do, coupon. 1874 113&.
THE LAKE SHORE MEETISG-SToCKS DULL AND
HEAVY.
The street has been chiefly absorbed to-day with
the proceedings OF the meeting of The Lake Shore
stockholders at Cleveland but the news received has
been quite meagre-On Il par, perhaps with the re-
suit The dispatches SO far entirely OF private
nature and state simply that the stockholders by
large majority authorized the increase OF the capital
stock to its full complement of s5o,oouOoo. and then,
by special resolution committed the future OF the
issue of SIS 100000 stock to the executive COM
mtlee, with power to fix the time for It's creation
and the rate at which 1t may be disposed OF. An
impression prevails that the new stock Will be
issued to the present stockholders for con-
sideration oil 81 per cent Of It's par value, which
would lurnisnt company with s5,ooo,ooo cash for
the doube-,racR and complete equipment Of the
line-at least 1t Is generally understood that the
new stock Will not be an out and out gift So far
speculation Is concerned the street Is as much at
ever. The paralelism OF the Lake Shore divi-
dend to the famous New York Central dividend
exists by an inverse process In the latter case the
II, pc sprn OF
night, and the stockholders and Legislature subse-
quently ratified and authorized It. The Lake shore
dividend IL first suggested by the directors and then
authorized by the stockholders. after which its
actual declaration is left to o number OF men who
may repeat the meeting In concave OF New York
Central and spring the dividend on the street at
any moment. The Lake Shore tactics have
more bungled look than The strategy
adopted III New York Central, all OF which suggests
doubt as to whether Commodore Vanderbilt has
been active In the movement as represented.
Perhaps, AFTER all, the venerable Commodore has
been only letting his pupils try their hands at the
game which he made SO famous. In any view, the
Lake Shore movement has lacked the briliancy and
Napoeonic skill displayed in the New York Central
The street, while waiting for the result Of the
meeting, was indifferent about the market until
toward noon, when vague report OF everything
"al right" at Cleveland occasoncd a little hurry
in Lake Shore and temporarily advanced II to l0ssS,
the rest OF the list Frightening up an eighth
or quarter per cent pretty much all.
over. But the real result being at length known,
feeling of disappont set In ana Lake shore ratified
down 10 1913, unsettng the general market, until
rally to 1875 brought everything to II standsril
once more. Erie went OF to 25;. on the decision
OF Judge BlatchIord denying the injunction to re.
STRAIN the new issue Of stock The Hannibal and
st. Joseph stocks were weak ard lower, despite the
bid of prominent operator Offering one per cent to
call any part Oh lVoV shaes az W III ln'ry
days. Consolidation Coal Vert of 60 95s,. Late in
the day the market relapsed into utter dulness
The Lake Shore meeting was the last contingency
on which hopes were based OF revival or activity
and this affair gone by, the market has put on It's
nghtcap for long nap.
HIGHEST AND LOWEST PRICES.