, 1872-11-18
Michigan Central and the Boston Fire.

From the Chicago RaiI.gay Rerie1r, Nop. Is.
IN the special dispatches from New York.
| which appeared in some Of the Chicago paper7
OF Monday last, the opinion is reported as nnj
Yersa1 that all railway stocks would decline rap
| idly, as one Of the immediate conseuueoces nP
the Boston fire. After enume1ating several es-
pecially endangered, the despatch goes On to say:
Michigan Central would, it WAS thought, be swept
from the market, h1eefourths Of the STOCK beR heId
IN Boston.
The forecast in regard to Michigan Central is
pretty good instance Of the results reached
when one goes to work to develop facts ont of
the depth Of his own consciousness. Il is A.
sumed that Michigan Central is held mainly in
Boston; while just the contrary is true. the ma
lor1ty OF that stock being held outside Of Boston
more than any other Western stock-not even
excepting Chicago, Burlington & Quincy, it is
owned IN New England at large; and that not
by few capitalists who might or might not
have held it in large a1nounts,-but IN small
amounts by persons OF moderate though inde-
pendent means, attracted to it "a q safe and 1ih.
orally paying Investment.
The quotations OF Michigan Central stock at
tne New YORK Exchange since the fire are suft-
GENTLY conclusive. On Monday, it is true that
1t feu from IL On Saturday to ITO; but it ct.
lis, at which it is now regularly reported. mr.
does it appear that there we're any considerao]s
sales at the lower fgure,-whic there cartainfv
would have been had it been freely offered. r.
tel temporary fan vas shared with Michigan Cent ral
A-~@N ~AA~ S*AAVA -.1t
as speculative. New York Central fell r. y, meH az
to 50 Erie, from 50a4 to 48; Harlem f~ ~ ~ -
to III; Northwestern, preferred, frU - ~ o117 ~
to Us; Rock Island, from 109 to l06' - "a "a
Jersey Central, from 103 to 1CD. e' Ne1
from 55a to 81; Wabash from Tx " s9i e.; eaa!' ~
Wayne from 81 to 92115 Chicaeo. J*nu,!G?.11 ~.
Quincy from 135 to 1872 Lake 81 ora nfngton L ';a
from ls6 to 132 Lake Shore i .ich;ean fs SontGs,
Ia ern f5on 81 to ss and qpion Pacie atoeRa
11qm On W. , to ssz4, and bonds tr ON IS to s65S
S ngn ene 10 peIs9G Is OF such OF Jur New Enelana
-, a. nG .calgaR Con trial, We take pieas
Of the business OF the McEia..n Gan{.a2 c91lon
and the facts (Which are o1ciS iii ha noau
y acceptable, inasmuch a., ira cornnsn| @ Te ge -
now publish stated repr ,rtz ~. ~ 1 Mot
October earnings were< '' 4ne
Increase over oet,, eo7.o3
Increaaa ovar | ~" - inches. 736333 q
A, -. &C., 71..-....... .''--.'. ,20a 53l IS
v;ona c~nP ."1 red with the earnings of anu pre-
Iine 49, tn IN the history Of the road, the main
NJ ~ .nlngs for October, ~, show an increase
Lh. -oo,ooo, and this increase Was over that for
previous month, September, ~. In onlV
), our previous instances Lave the monthly earn.
1ngs OF the road reached $500 900.
we should think, under these circumstances
relating to the ownership OF the stock and tha.
earnings OF the road, that it would ren1;ra,
something more, and something quite diffarent.
from the Boston fire to cause the stock to ha.
=. swept from the MARKET" and the nronar+v ~
the Company to be "hopeless1y ruined.'5 fan-
talnly those, if any, who bought Michigan Gen.
tral at any figure below III, or gyen At IL;
ngure (for the transactions are merely nominaI :
IRE to pc congratulated on so legitimate = 4
pronfable an Investment OF their spara ma, ~