New-York tribune., 1876-10-06
IHING BOARD
OFFICIAL REPORT OF AMERICAN MISING
SALES after uc call
Califnrnia
THURSDAY, Oct. 5-P. NJ

THURSDAY Oct 5-P. NJ.
Seldom if ever has stock market been more sue.
cessfully manipulated than that Of to-day For the
time being real values lost their influence, and
simple grit decided the contest between :" "bul' and
bear" and that by large majority in favor of the
former. The victory full aud complete. There
was no resistance 10 the dash and spirit of The charge
upon the coal shares that carried their prices up
3a4 per cent within the first half hour after the OPEN
ing of the days fight Both great "bears" and little
"cubs' surrendered, gladly accepting Of a cover on
the terms which the bulls" chose 10 dictate. This
condition Of affairs in the coal stocks soon
extended to tho general market. The
"bears" being perfectly dcmoralized and The
bulls couespondngly elatcd, sent such
stocks as Lake Shore Michigan Central Central and
Hudson, and Rock Island flying up the scale until
an advance ranging from 2 to 3l2 per cent had been
recorded. The trading. which amounts TO the
large business Of 3l5 900 shares, was entirely con-
fined to the speculators Of the street. There was
not the slightest indication of a new element at
work in the market on the buying side, while there
were some sales by investors who had been waiting
for a rally. The pronuEco Of the new speculative
reformers as published in tOlays papers, seemed TO
have no influence upon the market. and quite
likely would have had different effect
from that intended if not backed by such
a display Of courage as has been before described.
The demands of these "recormersp are highly
proper and only in accord with what has heretofore
been advocated in this column, to the extent OF
urging the Stock Exchange to suspend from It's list
the securities of all corporations which refuse to
publish at regular and stated periods statements or
their earnings and expenses. But one may well
doubt the sincerity of the movement when discover
ing among the movers in the proposed reform the
., lid ., r.o.f zion, ~
directors and officers in steamship lines that did not
make even an ineligible annual report. or Of rail-
roads that positively refused to furnish the usual
weekly or monthly report Of earning, when they be-
gan to decline in the Autumn of 1879, and, still
worse. the names of those who now hold positions
in corporations that yet refuse to comply with the
request Of the Stock Exchange These gentlemen
further demand that the railroad war shall cease
and that a business shall be done at rates which
will return dividends upon the stocks of Michigan
Central and Lake Shore companies overlooking en-
tircly the point that the demand Is one fog usury
that both of these roads are capitalized for fully
double tcr real cost, and that the properties to-day
in exactly the same position ;s scYen-.cnths OF
the real estate in this city-mOrt gagged for a yaua-
tion upon which the interest cannot De earned. The
day has been of unusual excitement and results
in n large advance upon the majority ef stocks as
follows: Hannibal and 81. Joseph and Ohio and
Mississippi, each ls; Wabash and Northwest pre-
fer;ed. each ll Western Union n Y. and New-iiayen
and Chicago and Alton preferred each y American
Express aud Erie, each 81 U. 5. Express = Rock
Island, Harlem, and Consolidation Coal, each /
Hannibal aad 1t. Joseph preferred III Lake Shore.
l2i; Delaware Lackawanna and Western, 2 c..
Co. C. and In, 2li Michigan Central, 26 Central
and Hudson, 3ls Morris and Essex, 3l2, and New
Jersey Central, SIS. Dcclincs-North-West 4;
ST. Paul preferred. 12 and st. Paul, lis per cent.
The following table shows the