New-York tribune., 1873-01-23
WEDNESDAY, Jan. PIP. M.

WEDNESDAY, Jan. n sP NJ
The railroad shares have developed more move
ment to-day than for several days past and during
certain hours OF the day the Exchange presented
quite % bustling appearance. At the open
ing the market was firm and prices somewhat
be ter than at the close of yesterday, and further
Improvement quickly followed, with steady up
ward turn the majority of the list the climax be-
ing reached about p. Here the interest Tagged
little and the influence for hour or two there
after was in favor of lower quotations. Fur
ther on, however, the market picked up
again, and closed strong at full prices on
the greater portion of the list Whether this
movement has for the time being eliminated, OF
whether it is but tho inception Of brilliant bnii
campaign is q subject for consideration; and opin-
ions of operators in the street differ on the matter
for the peculiar tactics displayed by the various
cliques have completely mystihed the street. III
the future brings with il more activity aud hgher
values, it will be hailed with delight by large
class of brokers who begin to be troubled WITH ap
prehensions that the occupation OF Othelo is
waning Erie was very active and ruled at oSlF@o%s
a63I the depression of the middle Of the day being
doubtless due in part to the following letter. which
is sufficiently explanatory without further remark;
IS wIIIIAN-sT., N. Y, Jan. 81, 1873.
SIR At tho request Of Mr. Watson, President OF the
Erie Railway, hand you copy Of resolution ion tus srs
bonds into the consolidated bonds l am; sir yours
truly, SAMUEL L. M BARLOW
Meeting Of Executive Committee Of Erie Railway held
2st January ls7s-Present r. H. watson Oven W. Bu'ef
Whereas, BY notice issued on behalf OF this com,
pany the 18th day OF February ISL the holders d Oa
Hew-York aud Erie Railroad Company were notified that
they might exchange the said bonds for the bonds Sc
tIa trada
pany to Farmers Loan and Trust Company caiied
Whereas, In view Of the pending negotiations Of the
bonds of this Company in Europe It s deemed TO DO IOr
ther exohan Ses Of said bonds be made therefore.
Resored, That the President give notice 70 the Farm,
ers Loan and Trust Company 10 the STOCK Excna ana
10 the agents OF the Company in London that until the
further order Of the Board all further exchanges OF ne
old mortgage bonds OF this Company Tor such ne" con-
soldated bonds shall cease.
The subsequent recovery is attributable to the
probability that the dividend on the preferred
shares will soon be declared, though yet no def
mite action has been taken. The report from Lon
don is that the negotiation for the placing of the
convertible bonds in that market is likely
to be consummated Lake Shore was strong and
sold as high as "a on the apparent ability of the
Company to continue its present rate of dividends
New-York Central wended its way along gently, and
found buyers willing to pay as high as 1867. Is the
scrip dividend any nearer cOnsummation than
heretoforei The leading lights in Rock Island
made considerable play with that specially, and
caught good many eighths at 112.G1120llSS@112t
s11S,0l12. The milknen were full of glee at their
success in Ohios the programme to-day being to put
up the price to AL. St. Pauls were strong in small
business and Wabash steady at 72.072.073. Pacific
Mail took new departure and made quick run up
from III to 73 then fell back to 72!, and finally re-
acted to 72f. Western Union dragged its slow
length along inside of 81 until the wind up of
business when it made rally to S4l. Union Pacific
was firm at 80. .GS6i, C. C. l. c. moving along just
two per cent higher. Boston, Hartford and Erie
sold at g. We understand that the Directors of this
Company will meet in secret session tomorrow
We note sales of Harlem at 9; New-Jersey Central
1903 Chicago and Alton. 113.; Delaware. Lackawanna
and Western, 81, Erie Preferred, ~ Pittsburgh, 80;
Panama, 1913; and Chicago, Burlington and Quincy,
JIG. The coal stocks were quiet and about steady.
Expresses selling at 76Q75l for United States, and
69i for American. The opening, highest lowest, and
closing prices of stocks were as follows: