New-York tribune., 1873-02-12
II 81, so. Atlantic Pacific Atlantic ,s, Pacific
TUESDAY, Feb. 11-P. N.
Nv -
Atlantic A PAc. |


r,o ,.,.ro, r,oxo,,e,t in the Wall-st. markets
wos not na,t;cnlarlv important during the early
part of the day, but before the close 'ne qu.',os0
bod hoon usrrnod nv an activity that extended to
+ho ,vDd mn 1sben stocks were weak gold urn, ana
H. IA c.o+os bonds strong. The stock speculation
mo-. O;ot rather than otherwise during the hours
for, the opeuing TO 1890, after which decline set
=, which bv o'clock had developed into perfect
stampede as stocks were one after another thrown
overboard with q fury and thoughueesness
strongly suggestive of panicky periods for
some time the market has been under
the control of coterie of clques who have
been endeavoring to so manipulate monetary mat
tors as to induce short sales which might eyentu-
ally benefit them in marketing their holdings for
this purpose money has been made worth bonus OF
thirty-second for some time. and these were the
going rates to-day 1t is possible in view of this
persistent strngency, that many holders OF stocks
were nnable TO face the music" and compelled to
sell out their shares. Or it may have been that the
market was sold down this afternoon SO severely IN
order to provoke new short lines. with the
object above mentioned The market opened strong
and made considerable improvement during the fore
noon, the entire active list moving up fraction.
Erie started off at &C. and reached CO. on the current
report that the directors meeting to-day had au-
thOrized the payment of dividend OF 3! per cent Oh
the preferred shares of the Company and !! on the
common. This was later substantiated The state
ment of the Company is pronounced favorable, and
is in brief as follows:
The gross earnings of the Ene Railway for the 10,
year ending Dec. 81, 1872, were
The working expenses for the same s,o cooos.
Interest fsrtSt on the funded and floating
debt .......................... ls14,o43
Rental of leased lines, &c......... 12292-sl66c7Tn
Nat rosrl,s for the s. o2oss5
Less dividend on preferred STOCK pald 10 July
'
1eav,ro surplus usof.................... Of s1727593
The dividends above announced viii be paid on
the 10th of March, and the stock books of the Com
panv will he closed for transfers from p. m, March
l. until the morning of March 16. 1t is reported that
the recent loan of S1OOOOOO has been entirely alb
sorbed in the London market. Despite these favor
able circumstances the price obstnately refused to
stay at the quotation reached and in the afternoon
declined to Co., The decline in this stock extended
quickly 30 the rest of the list, which had no such
outside support as Erie, and on the principle that
if Erie, surrounded by such assurances should
weaken there was no reason why the others should
not participate. Consequently, raid was made on
Western Union which broke down the price to S7s,
Central going off to 1889, OhiOs to 46s, and Rock
Island to 12s. Lake Shore withstood the attack as
long as possible but was finally compelled to sue
cumb, and fell back from ga. to 96s. But IN the
meantime the holders of Atlantic and Pacific Pre-
ferred began to feel little queer and as speedy
result the price went down from SGs to 3Ot, subse
quent rally Of per cent following. Its
tender, Missouri Pacific, went OFT per cent
| to 55B. The general market became weak and was
greatly affected by the sudden selling movement
deyeloped. and although there was reaction in few
of the leading shares, yet the market closed with
downward tendency. more complete history will
be found in the subioned table of opening highest,
| lo,rnst and clnsinn nrices made to-daY: