The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-02-15
RAILROAD EARNINGS
The earnings OF the Milwaukee and st. faui Rail-
road for tine first week In February were in

increase. 9o,3oo
The earnings OF she company since the beginning
OF 1872 show an increase OF over $4,000. as COM
pared with the corresponding period Of last year.
STOCKS DULL AND LOWER.
The stock market was steady and very dull, with
q firm tone. most OF the day. but became weak and
rapidly declined In the last hour OF business, tho
dealings toward the closing OF the stock Exchange
being at q range OF fully one per cent below the
midday prices for the several leading special
ties such as Union Pacific, Pacific Mall,
Western Union and Ohio and Mississippi.
while elsewhere the decline ranged from
three -eighths to three quarters per cent. The
attention OF the street was stl largely concerned
with the career of Hannibal and st. Joseph, which
fuctuated between the extremes OF AN ana AZ.
great deal OF stock was bought In for the acc0u mt
OF brokers who failed TO make their deliveries IN the
ola certificates, which for this use were worth at
one time as high as 0ne-halr per cent, or $50 for
every hundred shares. the brokers OF the ring"
who have issued the additional five millions Of capt.
tai made their tenders OF the new stock
to-day, and in each case took along notary
and witness Of the proceeding, who re-
corded and subscribed to the facts Of the
tender OF the stock. Meantime the Stock Exchange
insists upon the old certificates as being the only
'good deliveries" its action in that respect being
another special meeting this afternoon, thoroughly
discussed the question and decided that as the
transfer signatures of the Messrs. Duncan Sherman
& co. registration OF the stock to all lntents
and purposes, as required by the rules OF the
Board, the new stock Will not be a good delivery
for thirty days from February 13, after
which interval the registration at the Tenth
National Bank will be recognized. While some par
ties shrewdly suspect that all the present COM
motion has been excited for the purpose OF enabling
the 'ring their ''short' Sales others think
that the new certificates which made their appear
ance to-day really portions of extra issue or
five millions of common stock. In any event, for
thirty days to come it would be well II every owner
of the common stock should insist on Alis broker
calling his certificates from the market and
refusing to lend them. This course might
result In the severe punishment Of
those who, without the knowledge Of the stock
holders and without notice OF their Intentions the
public, have secretly Increased the capital OF cor
poration from four to nine millions Between the
good faith OF the Governing Committee in their
efforts to suppress the practice OF secret stock
watering and the knowledge now Of stockholders
OF their power. the present opportunity ought to be
taken advantage OF to teach the ''ring'' costly
lesson. 1t Is pity that some such daring
spirit as Commodore Vanderbilt is not interested
In the matter, so as to make "corner" on the
"rlng" which, as punishment OF rascality. would
be more striking piece OF poetic justice than even
the famous Harlem ''cOrner'' on the Aldermanic
legislative rings OF 1s63-'64. There smart
recovery in Harlem, with sales at 113ss. The St.
Paul stocks were firm and Reading utterly neg
lected.
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest