New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-01-05

This comparison would be st more marked il ID wer0
made with the corresponding day at the close OF
1879 thus excluding the marked advance OF the opening
days Of 1874.
Proposals for the full amount Of tooO OF first mort
gage bonds were received In the Presidents ONCE before
2 D. H. on Saturday, and tenders were then
constantly arriving. The largest amount bId
for up to that hour III one tender was sloc""'
sNo bid below par considered. Mr. VanderDht
anticipated that the aggregate OF all the tenders
would approach $5,0oO,000. The bonds are ior
$1,000 5000, and slo,OOO-the first class coupon.
the second and third registered. All the leading
bankers have made offers, and many Of the bonds
are bid for on foreign account. Mr.. Vanderbilt
saws that this will suffice to pay for the completion
OF the laying of the four tracks with steel rails for The
entire length OF the line. There are now ll5O miles OK
these rails Land. The President explained that 6a per
cent OF the receipts covers the WhOle OF ths
working expenses of the railway, AID supposlnR the
latter rose TO 90 per there would still be ample
margin 10 provide the interest Of the bonds and pay
of the loan ia two years.
The Committee OF Depostors Of the Ocean National
Bank are to make final report at the First Dstrce
courtroom tomorrow at2 p Id.
The SUBCOMMITTEE Of the Committee on National
Finance appointed time ago by the Produce Ex'
change have prepared q report which they expect 70
present to-day.
The bulls are already circulating all sorts of stores Of
combinations consolidation OF roads, pooling OF Central
and The Ike. Thus the old North West and Ct Paul
story ia revived, apparently by authority.
CONSOLIDATION REPORTS.
From tn, Ne,e York Er,nno Erprsss.
The advance in some OF these stocks was duo
TO projected railway combinations on gigantic scale.
II Is reported that negotiations are now pending lor The
consolidation of the Northwest and 81 Paul Rail-
ways under the style of the Chicago, Milwaukee
posed basis is follows The Preferred
| stock of the new company TO consist of $50.
o0O'o for the purpose OF absorbing the pre-
erred capital Of the Northwest and ST Paul roads
and the Common stock be fixed at $350oO0O OF WHEN
SIS Is TO be used TO retire the present North west
Common stock and for 20 cent stock di
dend to represent accumulated earnings useu III con-
structOn: and e5OOC 10 be allotted TO the 81 faul
Common shareholders tor their present STOCK anu
A 50 OOO for q 10 per cent dividend 10 represent
earninos nut into new work IL Is estimated mat
the earnings of the consolidated company would reach
SO 0 oO gross and 600 net the hrst year winch.
sfter ALLOWING 62O0c0 interest ON the combined
mortgages would E.0o00 for 10 per cent dlyi-
dend on both classes Of stock, and surplus OF $eo0
II ia also calculated that expenses would be greatly re-
duced and net earnings increased In the future
bv this consolidation. 30 that dividends cOul1
ny increased beyond 10 per cent. II this arrange,
mcnt IA carried out Paul and Northwest Preferred
are likely TO 20 DIP 10 the vicinity Of par and Northwest
Common and St. Paul Common advance largely oIs
present figures. The Northwest Common especially
would receive an impetus as 1t would get 20 per cent
dividend The earnings Of all the Western roads show
handsome gain for December, and this, TOO, IL snu-
ating large purchases for speculation and investment.
Everything indicates great speculation and buoys
spcy on the Stock Exchange In the early future.