New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-06-03
WEDNESDAY,, Jrne 2-P. VI

After the violent upward movement in stocks
which occurred yesterday, it would, even under the
most favorable circumstances have been but natural
that in to-days market there should have been hes-
tatiOn and feverishness fully great rs has been
witnessed under the present not Over-encouraglng
state of affairs. The market was also affected and
somewhat unsettled by break in Union Pacific
from 70ll to = II which followed the announcement
that the dividend declared to-day payable July /.
WAS only i2 per cent interest instead OF 3 per
cent az the street had educated itself to expect We
learn that nj the meeting of the Board Of Directors
there was diversity of opinion as to the rate TO be
paid, some being in favor Of dividing the earnings
for the past six months. which, it was stated,
amounted 10 1 per cent upon the stock; but that
after an exchange Of opinion upon the subject the
conservative element carried its point by making it
10 per cent for tho quarter ending July l, as had
been recommended by the stockholders at their last
annual meeting The Directors adopted the follow
ing resolution:
Resolred That the agreeaby to vote of the
stockholders AT the annual meeting held March TO- 1870
ia hereby authorized and directed To pay dividend OF
one and one half per the capital stock OF the Com
pany ont Of the earnings for the quarter ending June
30 SO to the holders Of the stock Of record June
inst; said dividend be payable and after July l.
1870 and that the transfer books of the Company be
closed on the day Of June and opened again on the
Gth day Of July.
New-York stockholders will be paid al the Office Of
the Union Trust Company and Boston stockholders
al the Office OF the Company in Boston. As VIII be
seen the market has tuctuated frequently and in
some cases violently but generally showing de-
cline from yesterdays closing prices. The total
transactions Of the day foot up $4,000 shares Of
stock. of which Lake Shore has had the preference
in sales of o. 500 shares at $4,000 ls0 605s@6ll
lo.gl m 81 IN
GO5sa 6O8t decline from last evening of per cent
Union Pacific, which opened at 79ls079li, sold down
TO 770775s, at which point it became known that
the expected dividend was declared for L. per cent
and the price rapidly declined to 7iLe, from which
there was rally to 76ll and then decline again to
7iIaD7J01l5s making decline of 43s per cent
from last night During these movements 1t is quite
likely that a short interest was made in the stock
which may or may not have been judicious. The
North Western stocks continue strong, the Common
gaining 81 per cent on sales Of 1900 shares at 40l2
04O7s0 4O1i 9413le 1913, and the Preferred 2 per
cent on 800 shares at 54l2055. Erie is almost life
less the dealings in it being left to those who
still long OF it or to those who seek for turns Of g.
The sales to-day are reduced to LOO shares at
1S3sQ ISl2Q177s0l S3sOlS, decline OF a per
cent st. Paul, on sales Of $500 shares at 344i0
333t 034 12G 1884, declines 10 per cent, ONO and
Mississippi, OF which OJOo shares were sou at -t~
ooa 023a. 23ls declines 50 per cent while Wabash
ON sales of 400 shares at 90S7s010090s. gains
3, per cent; 1900 shares of Rock Island at 102l2G
IO2It91O22i 1929, shows decline Of L per cent
and Central and Hudson % per cent after sales Of
3. 500 shares at 102li 9102l s01030l 1921 Western
Union. while somewhat cratic, exhibited fair
clique of strength 81 900 shares selling at 76s4077
075a, 97614 a755s a 1884 "a 1873 a 76l a 1873, a
dacIine of 3. per cent Pacific Mail loses Il
per cent. after sales of 10000 shares at 38036is9
34l4s347s0344 034as. Michigan Central, Illinois
Central. and Delaware, Lackawanna and Western.
on small transactions, show gains of 1, 4. and g
per cent, respectively while Hannibal and ST. Joe
has lost % per cent. The close of the market was
characterized by desire on the part OF those who
had been buyers during the day 10 close up their in
terest which contributed TO heavy feeling The
opening highest lowest, and closing prices OF active
stocks sold to-day will be found in the following
tahle