New-York tribune., 1876-06-05
SALES FROM 2 O'CLOCK TO CLOSE OF BUSINESS !
O'CLOCK.
North. West Pref
Erie Hallway
SATURDAY, Juno 3-r. ".


There is but little to be said Of the commercial sit.
uation for the week ending with to-day. The Turk
ish revolution which occurred on Monday last gave
a decided check 10 the grain speculation. which had
made no little progress upon the idea OF possible II
not probable European war, since when there has
been marked decline both III the volume OF basi
moss and IN prices Pork and otLer hog products
have been in continuous state OF semi-panic. ana
have sold at lower prices than for number
of years before of other branches OF trade
il is only necessary say that this Is their dun sea-
SON and that they have done full justice To the stu
alton. Financial circles simply reflect the general
stagnation of the mercantile interest i'll plethora
Of losnable capital, an increase Of bank reserves
ouietness OF both domestic and foreign exchanges,
and by growing distrust IN the values of corporate
.eeurities-particuary shares-that have heretofore
been regarded as sound and safe investments. The
mat few wears have been 80 prolific in the sud-
dan deyelopment of rottenness in corpora
,ions. managed by cmincntly respectable gentle
men that less is now taken for granted
than heretofore and official reports are subjected 10
a more rigid scrutiny TO discoveri tho dividcnds
which are declared and paid really earned or de-
rived from assets and covered up by such convenient
accounts as construction" and eQuirmoht"
Hence when report is ambiguous in the arrange
ment of any of its figures or accounts, suspicion Ia
naturally aroused of the existence OF an Intent 70
hids some important fact; and the semi-olcisl ss-
surance formerly so potent that 1T Is all rghh"
is no longer regarded Is necessarily sat.sfac-
tnrv recent case in point Is that OF the
Lake Shore Company, which In January lass
dsclared n dividend of 2 per cent out OF the
earnings of 1873, The sum required to pay this
dividend was only $9s9.33O yet when the official
r.rort for 1873 was issued early in May, although
,ha acconpts were so arranged as to show that
i, oo2 40. had been earned, still the report also
sbowed that the supplies on hand had been I'd. Z
drced from S. 7S5, ,620 as OF Dec. 81, 1874 TO
:, l54 25i ON Dec 81 lS75-a reduction Of 81 $751;
36s. or nearly $1,000 more than the sum reqnircd
N nav the declared dividend. THIS may be all
right. but it is clear that had the supplies on
handn been maintained ut the standard OK
former years there would have been no funds
applicable to the payment OF dividend.
The speculation on the Stock Exchange has been
variable and dull but under the closing UP of short
accounts by quite number OF prominent operators.
and "bull movement in ST. Pauls and Western
Union. tho market generally shows AL advance for
the week ranging from L TO Al per cent. The Sc.
Paul stocks havo been particularly strong. and ad-
van,ed 3 Der cent for tho Common and y for tho
pr.feued This movement has been successfully
eupineered by theiparties TO the "bulp movement
of last April who left in when their c0nfrcres
unloaded upon them and the public. and the levez
now used IVES the privatsly given "pontr that the
last week In May was going to show IN immspss
! insreass over 1870. which proves 70 b tue