New-York tribune., 1873-01-14


nature to trust il much; nor would 1t be In keep
ing with his past life to explain his plansin advance
The great scrip dividend was declared between two
business days. and 80 sudden and unexpected 10
his nearest friends it that the stock rose oo VI
40 per cent in day. 1t may be 1t Is quite saie W
buy Central at present prices for an per cent s'oc
with promising future is not dear at lOO 10 loo p'
should the Commodore too long delay the dividend,
these hopeful gentlemen will find that they are car
rying the stock at higher prices that the pubic arc
willing to pay for it, All depends on the dividend
Let that be delayed and soon the stock VIII gra'i
tate to lower prices notwithstanding its intrinsic
value.
In Pacific Mail the sales have been even larger
than in Central but they cannot have been so reai
it being clearly the policy of its manipulators 10
give it an occasional upward start, if only to leu
Others see what facility it has for declining Ihls
is rather expensive in respect of the large amount
of commissions paid on the enormous fictitious sales
to say nothing of shares that have TO be Dougn1
in at profit to the sellers. We think we
speak within bounds in expressing the belief that,
on any day during the past week, when the sales OF
this stock aggregate $4,000 shares, at least 2oooO
shares are sold fctitiously the buyer and seller III
each case being the agent of the prime mover, some
of the brokers being innocent instruments III inc
hands of giant operator, and Others dong the WoiA
Willingly and for nominal compensation Inc
commissions on % 900 shares bought and sold IN this
way supposing the transactions to be In vloiaoho
the rules of the Board would probably be 81 per 100
shares each way OF $500 to 5000 the days trans
actions This seems like large sum, but clques
can well afford it so long the final consummatloh
is in their favor. We have no confidence In the
large reported transactions in this stock and those
who are holding the shares in the hope that some
Il, In 4urn ~ fpar
loaded dice Union Pacific stands next in point OF
activity among the speculative favorites. Under
favorable circumstances possibly it would be good
security to hold and under almost any 'clrcum-
stances it may be good property for those VINO
have the ability topay for and the patience to holu
it, Undeniaby it has great intrinsic merit, ana only
requires time and q reasonably honest management
to give it its true place in the stock list AT present.
however it is under a cloud, deep and dark anu
oyershadowng arising from the Credit Mobilier ex-
posures, and may never emerge from the surround
ing darkness until there is complete change III inc
management. Let the public but have that, ana let
the managers show that they are alive to the real
value and Importance of the concern; that they un-
derstand that every of their land is yet TO DC
occupied and that this occupation is to bring them
money at the rate of $40 per acre OF
upward: that perfect culture is to give
them abundant way, as well through
traffic. that transcontinental railway that stretches
for thousands of miles good soil and invites
the commerce of millions Of people, is grand ma
tonal enterprise that requires for its proper develop
ment broad, expansive and statesmanllke views,
and when these are brought to bear we shall have
upon our stock board a security that will live and
thrive and flourish under watering than hait
dozen New-York Centrals ever had or dozen VAN
derblts ever conceived. But there must be no taint
of Credit Mobilierism putting OF shares or bonds
or scrip "where they will do most good"
New-York Central moved to-day at 1O2l91Oll0lC2s.
Rock Island came ont of its corner and fought us
way up in true gadiatorial style to III, on report
chat resistance to the sale of GO0O0 shares, new
stock, on Wednesday, would be made IN
the form of an injunction. When inquiry
at the proper sources proved the incorrect
ness of the story the price went back again
to 11Os. Western Union was governed by no new
influences, but the price advanced TO $40. Omos
moved up to AZ, and c., c. and c. to S9t but the
latter stock lost its footing and slipped back TO Sss
ST. Paul was heavy. and Northwest and Wabash
neglected. The Credit Mobilier investigation sent
Union Pacific down to about 81 to-day. Pacific Mail
was quiet Boston, Hartford and Erie steady, and the
rest of the list as well investments and express
stocks, neglected. Michigan Central declined to lOi
The market closed little steadier The opening,
highest lowest and closing prices of stocks were as
follows