New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-01-03
ON 'CHANGE.
rur JANUARY DIVIDENDS.

uorrp,y APATHY BROKEN BY AN ADVANCE IN IHh
STOCK MARKEr-sEvENTY-FIvE MILLIONS OF IS-
TrRrsT-TwFNrY- FIVE DEFAUITISG RAILROADS.
The new wear opened with the rapid uevei-
opment Of the bull campaign IN Walist, whicn 'no
pethora OF money the distribution OF sixty or seventy
millions in coupons and DIVIDENDS o"ri"s '"o
next fortnight and the certainty OF conihne"
imitation from the necessities Of the Government
have combined to produce. The Ndn"erp"
stocks continued to lead the adv the rise pS par
ticularly marked in New-York Central and western
Union. Other leading through lines, ana hes SURE VI
a profitable business like the Delaware, Lackawanna
and Western at the East and the North West ana 81
Paul at the West, advanced steadily. New-forx
Central shows gain OF a per cent between the day be-
fore Christmas Day and the day after New Years. Lake
Shore shows about the St. Paul shows gain OF
nearly per cent; Northwest OF about the same )
Western Union OF nearly &C. T"'"'
Mail has aso profited by the rs',
and, indeed, it has been toaerably evenly disrpu~"
over the entire list Of first and secondrate stocks
There ia general inquiry Also for good railroad bonds
and an advance in prices of several of them North
Western bonds are stimulated by the reports oil pur-
chases in England.
The bulls count confidently on a lively time dnrng
January relying first upon the abundance oi money
seeking investment next upon the certainty thA 'h
SllOOOOO0 imitation cannot be withdrawh' anu
equally upon q third point TO wit, the more
the panic and consequent increase IN their net earnings
II there are any BEARS or the BEARS being found Ia
exist have any definite plan OF campaign 1t has not ye'
been heard in the busy and confident air OF Waist IL
January, 1874.
The Committee on Admissions OF the Stock Exchange
reported favorably yesterday, to the reinstatement IN
their rights members, OF Mr.. Hatch OF the hrm or
Fisk & Hatch and Mr.. Curry who had been among the
sufferers by the panic.
The January interest and dividends, the payment or
which was begun yesterday, will aggregate nearly
s75OooOOO OF this the Government will pay NOTES.-THE
gold interest various bonds, N93sO3 currency in'
terest on the Pacific Railway second mortgage bonds
and S1l 10000 redemption Of 1874 bonds though
portion Of these will be exchanged for the new Fves
The interest on State aud City bonds is large sum-
and the January coupons various railway bonds
represent many millions Of dollars. Fisk a Hatch
pay out gold on account OF the Ceptrai fachc'
the Western Pacific, and the California and Oregon Kali
ways Morton, Bliss & Co. pay sSl71lO on Union racine
bonds; Drexel, Morgan Co., $i3S.oOo; NJ h Jesup ~
Co.. $4,000, and Winslow, Lanier Il Co, Nooo,U@ on
various miscellaneous bonds. The Reading Railroad
pays 81 2500O0 interest and dividends; Lake Shore,
ss5 interestRock Island Atlantic and Great
Western $4,000; Baltimore and Ohio, $249oo0; Allan
tic and Pacific. $2lOOoO Missouri Pacific <lo'Vo ana
California Pacific 100000 These are only small part
OF the payments to be made during the present month
By large corporations.
various Institutions AT winch coupons f"'Io ~
deemed presented an animated appearance yesterday.
Clerks and cashiers kept busy from the opening 10
the close of business hours and the sums dsbnrsed weo
very large The number Of defaultiDg roads was much
smaller than had been expected and the fact that they
would default on their January interest had been Prev
ously announced With the reasons, except Ia the cases
OF few unimportant OF the seventeen companies
whose coupons are redeemed at the Farmers Loan and
Trust Company's oce.,only two failed TO provide ITO
necessary funds-the Fort WAYNE Jackson aud Saginaw
and Missouri River Fort Scott and Gulf tIhese wi"
both fund their coupons and the former bas already
made arrangements
The St. Louis and South. Eastern Railway, whose con
pons are payable by George Opdyke 4 Co.. nave 10
fauted on the interest on 100000 first mortgage bonds
This ROAD is represented in prosperous condtoo'
but Is suffering, like many Others from the temporary
scarcity OF money. Tie Company have MADE arrange
ments for paying the November interest about the md
die the present month"; and the January interest some
time IN March, after which time they expect TO meet
their engagements they fall due. The Canada son'-
ern and Chicago aud Canada Southern roads have made
arrangements for funding the coupons falling due 10
January 1874 July 1874 and January 1878, was fully
explained in the COmpanys ar,,pubshed 10 lhs
TRIBUNE a few days ago.
The entire number of railroads in default than
u.s. an interest account OF
more than s27 100000 Lists Of these have been published
in THE TRIBUNE from time to time. The following are
table taken from the advance sheets Of article care
ee by Charles W. Hassler. broker in railway bonds At
No. Z Wall-st.:
pEYAuLrs
Principal
lin ofh hands Rate