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

STOCK PRODUCE AND COTTON EXCHANGE NOTES
WESTERN UNION REvIvAL-HEAvY OPERATIONS
ARRIVAL OF JAMES MHENRY-RAILRoAD IN
TEREsTs.
Wall-st was not disturbed yesterday by
ANYTHING that partoOk OF sensational nature. The
stock market opened firm and prices advanced to p per
cent but after the First Board speculation changed and
prices declined to 70 cent the entire list West
ern Union mado the widest fluctuations selling at i4o
75i a7s475i Wabash came next advancing from az
to 42s, declining TO 40i, and recovering to iOt
In tho final dealings the market was weak and closed at
about the lowest point o. the day large short interest
created through the day. Meantime, 1t is consid
cred certain that, for the first time in weeks
o decided bull campaign has been naugurnted,
and that two-thirds OF tho heavy opera
lions for have suddenly been transferred
90 the bull side. Many yssterdy we're supposed to
have been for realizing, and with view or turning from
the short to tho long side Enc was not made
the subject of although the object OF the
arrival Of James McHenry by the Scotia was matter Of
conjecture 20 all who Interested in the stock or the
Company The regular meeting Of the Board Of Directors
was held Mr. Barlow said that no action would be
taken Mr. Dunans reply TO President WGtsons state
meut that the experts who are to make an exami-
nation OF the books OF the Company started from Liver
pool last Saturday.
There was discussion in relation TO tho proposed
Improvement Of the Buffalo NewYork and Erie Railroad
and Its extension 70 the Suspension Bridge. The action
OF the Pennsyvant Legislature in ordering us Comt-
tee on Railroads investigate the susquehanna strlKe
was considered and counsel ordered 10 be present
and represent the Erie Company.
Western Union continues TO lead the market up and
down. The unusual interest and the heavy operations
In probably largely due to the revival Of the belief
in gu impending stock aud cash dividend denial of tho
story that Commodore Vanderbilt has been schlnS
out and an impression that the negotiations for the con
troll of the Atlantic and Pacific Telegraph Company are
likely TO succeed These last it Is said, will be resumed
Immediately on President Orton's return. The
story OF Commodore Vanderbilt having as
posed OF his interest in the western Union was
current in the last week. and generally DeeVed
but u the quarters 1t now everywhere secuted
The officers and stockholders of the Company express
the utmost confidence 10 per cent stock dividend as
soon "a the Atlantic and Pacific negotiations are
concluded If they should fail IS division OF even
OF the surplus stock, say 20 per cent among
stockholders, and Is per cent cash DIVIDEND
besides The gross receipts OF the company ior
the year ending June 80, 1873, were reported al
S65955 leaving net earnings OF over ;25O0O say about
per cent on outstanding stock 1t ia claimed by
the friends OF the Company thai since That cate inc
earnings have steadily increased while the operating
expenses have been reduced.
The Chancellor of New-Jersey has ordered W. g. sne-
dem Receiver OF the NewJersey Southern Railroad to
restore the road at to George b. Upton and Bena
min williamson, Trustees. who held the road as morts"
cees The Trustees intend that the road shall be run on
all its branches aud will probably make an Arrangements
with Mr.. SnedeD to control H.
The Board OF Managers Of the Produce Exchange heid
specia meeting consider, among other matters the
operatons OF one members According TO the de
tails of the complaint, Sgmund APPEL Tor seVefai
months a member OF the Exchange, absconded. having
ycttmzed several firms to the amount OF $4,000 or so
ono He became member OF the Exchange In August
He bought largely OF hour and grain for shipping
and had always met his liabilities honorabiy. Inc
nurchases were made seven days credit,
And beipg in good credit he had no trouble III
nbtainipg as much -four and gram as nc
desired and for week past made heavy purchases Inc
merchandise shipped aud a large amount OF m0uey
vas raised on the bills OF ladng with which he dlsap
eored taking passage OF the European steamers
II supposed Saturday. Some ten or Twelve houses
have been yictmized IN sums ranging from slO1 W
wards Tae Board OF Managers VIII take action III inc
matter at the next meeting. The Hon. william M
Eyarts in letter, returned thanks Tor MS
election as honorary member OF the EAchanso
BROKERS report the receipt OF private dispatches from
correspondents whom they trust In Washington TO the
effect that resolution viii be introduced early next
ueek-probably by Gen. Butler-legalizng the
issue of the entire $0OOOOJ reserved As the Admins
taton has already claimed the right TO issue this the
action of the Administration majority. In case tho
question should once DO fairly brought before It, IS con-
,idered 10 DO certain.