New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-09-28
NETWORK DAILY TRIBUNE MONDAY

tohave supersttious dread OF carrying STOCKS over
the Sabbath. That this desire did not make serious
break in prices is taken by many as proof concla-
sive of the inherent strength of the mar
ket OF Central and Hudson some 1900 shares
were registered at 1Ot to 1O1s, with final sale of
100 shares at 1913 the quotation closing at lOl5 bid
and 1Olf asked. An effort was again made to give
prominence to c., @. and l. C. by the actual or ap
parent sale Of numerous small lots. The large hold
ers are evidently impressed with the belief that by
giving the shares an appearance of life small opera
tors may, on account of the moderate capital re-
qured, be tempted to take hand and assist to make
it in reality what 1t is only apparently, lively
speculative. The quotations fuctuated between III
and III, with 10! as the closing figures. OF Della
ware, Lackawanna, and Western some 1900 shares
changed hands with all the quotations at 11O3 The
fluctuations in Erie were encompassed within
range of per cent with the closing price at 37s bid
The market for Hannibal and ST. Joseph seems to be
in about the position as for several days past
and subject 10 the same influences. Only 400 shares
were sold at q! and 27i. The friends of Harlem,
who occasionally have dreams of large scrip
dividend, are just now under the influence
of one of these visions of the night,
and are holding their shares firmly,
only 1900 equal to $50 of full stock having been per-
mitted to see the light to-day at 12S to 1884, sim
stlon to sell below 129. AS heretofore Lake Shore
was the great bone of contention the sales register
ing 10000 shares OF nearly onethird of the entire
business of the day in speculative stocks. 1t opened
at rs and marched triumphantly on from that point
to the end. when it closed at 79s an advance of IL
since yesterday the highest point of the day and for
many days. The improved quotation was doubtless
greatly assisted by the very cause which
prevented material rise in other specu-
latives, namely desire to close up ac-
counts for the week. this being the stock in which
there was the largest short interest and the bears In
which made desperate effort to settle running con-
tracts and return TO their homes with nothing on
their minds absorbing than moderate losses to
prevent proper devotion TO the duties of the NOR
row. The recent of this stock illustrates the
danger of making large short sales OF any favorite
speculative upon the conviction of its want of IN
trinsic merit. 1t will do fQE few moderate dealers
to sell short under such circumstances, but when
forty hungry bears start out upon pre-
cisely the same theory, they are sure to
oversell the market and prevent the
decline in prices that would have been inevitable If
they had let it alone. Northwestern ranks fifth in
the list of stocks most heavily dealt ill., having
scored an aggregate to-day of 1900 shares with
variation of only per cent In the quotations, and
final sale at $751; the precise fgues OF last night
Ohio and Mississippi, next In Importance receives
new impetus from the recent extremely gallant and
otherwise favorable statement put forth bv its chief
officers 1t has long been regarded by in
telligent operators stock whose hopes
of a dividend were long since blighted, but
from to-day it seems destined to start forth anew
under dictatorship of unsurpassed responsibility,
and management IN which economy and lntelil-
gence seem to be happily combined. Not that we
inNa
ment the intention being merely to indicate salts
faction at finding that those who ought to be most
familiar with its concerns have hopes of it, In
Pacific Mail that wonderfully elastic security, which
stands only second to Lake Shore as cause OF
strife between bull and bear, there was another
day of much buying and selling, the operators for
a decline experiencing the same difficulty in getting
in their shorts and terminating their week S ankle
ties as was noticed in regard to the Lake Shore Rail
road and with like result They wanted 10 go
home and enjoy peaceful Sabbath and must first
secure enough stocks to settle all outstanding con-
tracts To do this they must of necessity
sustain market that might otherwise have
drooped and even advance the quotation
to higher figures In this way some 5000 shares
changed hands, the dealings commencing with
sale at 49, and proceeding without scarcely break
to the end. when a sale at 5O4 terminated the days
strife What will become of this stock and that OF
tbe Lake Shore Company when the business reopens
on money without the benefit of the recent large
short interest will beinterestng to know. Should the
hears then persist in putting out more shorts, we
should expect to see them encounter another such
defeat as that which has crowned the week Just
closed On the other hand should they stay severely
out the presumption is in favor OF decline IN these
two specialties whatever the immediate future may
have in store for the other prominent speculatlyes
Panama kept the even tenor OF its way and closed
without change at 1854 bid and il6 asked. In CHI
capo and st. Paul the transactions comprehended
some 5000 shares with variation III the quotations
of but a small fraction throughout the day ana a
closing price which was but per cent below that of
last night As stock that has received rather bad
name from the attacks of the Changers its move
ment at the Board so far as that may be taken as
criterion of opinion is matter of much interest to
its shareholders We should take the public verdict
70 he that the interests of the Company are not ma
teriaIy affected by the late judicial decision. To-
ledo and Wabash was also quite steady, some 1l,OOO
shares having been registered with no greater de-
Election from the opening pnce than : per cent,
closing at last with loss OF only t
COMPARED with the same time yesterday
Immediately upon the opening OF the Board
il was apparent that there were many who wished
70 realise profits on Union Pacific. This for time
caused hesitation in the price but the recession was
ioconsiderabe, and all the stock was taken with
willingness that indicated great strength. AT first
there were rumors that large holder was selling
but the speedy recovery of the fraction lost in the
earlier dealings was sufficient refutatlon OF the
rumor and when prices advanced to 37g, gain over
last nights quotation of d there were new buyers
ready to take all that could be obtained at ST.
There is nothing to say of this stock other than
the bulls seem to be confident from the indications
of to-day, of further advance in the price. The
holders of Western Union Telegraph showed no lack
of faith in their fayOrite having taken all the