New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-08-28


goods at their original cost price, This is equally
true Of nearly every railroad in the country. 1t is
safe to estimate that fully 90 per cent of all the
charges TO construction and equipment accounts
that have been made during the past ten years by
majority of our railroads, and which have fur
nished excuse for the sales of shares and
bonds were fairly chargeable to maintenance and
operating expenses. 1t is yet too early to foresee
the eventual financial result of tho collapse In the
coal securities but it cannot be doubted that its i'm
mediate effect is to inspire money lenders with
greater caution, and to more searching scru-
tiny Of the value of other rstclass" securities.
Already we hear of nervousness concerning
loans upon Panama Railroad stock, in connec-
ton with the condition of the Pacific Mail
CLIQUE.
The business of the week on the Stock Exchange
has exceeded that of any previous week for months
past, aggregating one million shares, more than
one-half of which contributed by the coal
companies, whose shares have declined III TO 22s5
per cent closing with a recovery ranging from 3ls
to 07s per cent. AS rule the various stocks have
become more plenty for lOanng purposes prices
receded. Delaware and Hudson having been "
ception and lending to-day as high as enc per cent
for until Monday while for sellers options at 90
days concession of COZ per cent was made. These
items of information are valuable to such outside
holders OF those stocks still have faith in their
intrinsic value and who therefore propose to hold
OF because one per cent day for the use of
their certificates, or even 4l35 per cent for go days.
is much better return than the best that the above
company now does in the way of dividends, and
is much additional to whatever in that line it may
do ~ the future. The heavy declines i'll the coal
shares has as yet had less than the usual effect of
such spasms upon the holders of the speculative
stocks because the losses sustained have fallen upon
investors rat than upon the street. but finally the
entire list yielded. and although the decline
subbonly resisted and prices rallied with the
reaction IN the coal shares yet the quotations at the
close show material loss for the week. The price
of Pacific Mail was unaffected by the mishap to its
steamship Colon (which il is estimated VIII cost
100000 TO repair not to speak of the SALVAGE due
TO the steamer Etua for six days tow into port,
unless The rise of 80 per cent may be attributed
to the cque's compulsory aid to its sup
port. Western Union was firmly held until
toward the close of the week, when it fcyersh,
between 7O062D70l2, finally breaking 10 0Sl2,
and ralyiug at the close to $685. upon the appear
ance of an unofficial statement that tine earnings
OF The company during the last quarter were
$500 900 over the last 1l2 per cen; dividend" AS
this matter is the subject of legal investigation
which will soon be completed, unless delayed by
technical opposition GA the part Of the company, the
public can afford to wait for It's result The sharp
rally in price just before o'clock to-day pro
nounced in the aconic slang Of the street, hsliy'
to the extreme. Comparing The closing prices TO-
day with those of last Saturday the changes are as
follows: Dccnes-C.. c. and /. C., Is; Wcls-farro'
Il Consolidated Coal. Missouri, Kansas, aud Texas,
aud Iron Mountain, each L Atlantic and Pacific
Telegraph Lake Shore, Northwest preferred, and
St. Louis, Kansas and Northern, each q North
West aud Pacific Mail, each q; Adams Express,
American Express, Hannibal and st. Joseph com
mon and preferred, Harlem, and New-lork and
New-Haven, each Central and Hudson aud Ono
Mississippi each 1ls c., G., {. and Indianapolis
and Michigan Central, each III Missouri Pacific
and Ohio and Miss ssipp preferred, each ll2; Fort
Wayne and Cleveland aud Pittsburgh each l'si
Western Union, 17s ; st. Paul preferred and Union
Pacific, each 2 L. 5. Express 2lS; Morris and Essex
2ll; ST. Paul, 2Ss Erie and Rock Island. each pa
Chicago and Alton. 4; Cbcago, Burlington aud
Quincy 6 Delaware and Hudson. Gl2; Delaware,
Lackawauna and Western, 81, and New-Jcrsey
Central 70 per cent. Advances: Atlantic aud Pa
cfc preferred, ls. and Pro- Petroleum, O. per cent.
The following table shows the
WEEKLY RANGE OF rRICLs