New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-11-10
THURSDAY, Nov. 9-P. NJ.

The conflicting and contradictory reports concern
ing the result of the general elections which to-
day have varied with each half hour, seemingly
have had no effect on the share speculation
at the Stock Exchange, the market having
been equally strong and weak under the ban
ners of Democracy and Republicanism. But
what apparently has affected it has been
the appreciation by the cques of the fact that the
Centennial rush is ended, and that henceforth the
business of both railroad and Geographic companies
will be confined to the ordinary commercial traffic.
Therefore the ciques having accepted the situation
have been sellers of stocks steadying and rallyng
prices as necessity dictated, yet disposing
of all that the market would take. The
ST. Paul stocks furnish a striking example
of the power and Influence of manipulation
in the stock market II requires extraordinary
stretch of the memory to take us back to the time
when the common stock was recommended as
good purchase" in the fOrtics and the preferred
at above 20. Yet to-day the common sells al 20,
or 3, per cent below the lowest price at which
it sold during the panic Of 1873, and the
preferred at 51sl. All will bear witness that
six months ago THE TRIBUNE cautioned the
public against investing in these fancleS and also
suggested that as the company had 10 right to pay
a semi-annual dividend on its preferred stock,
the declaration of such a dividend three months
Hi'''NiN''
of a stock jobbing operation. The result seems
TO have justified the opinion. 1t is not improb-
able that the warnings which have been uttered in
this column relating to other frst-claSs' stocks
may prove equally prophetic. The transactions OF
the day aggregate TO tie respectable amount OF
1Gi. 900 shares of which Lake Shore monopolizes
nearly one-thrd. This stock opened at 5Gas, and,
after a brush to 5G5s, steadily dccned-subjert to
frequent reactions-to 517s, and closed at 5'l.
Michigan Central, in like manner, sold at 11'sa
453fG 43l. 043l2. These two railroads will soon
be subject to a new competition, which Is I"
come from the completion of the Chicago
and Port Huron Railroad, which gives TO the Grand
Trunk Railroad OF Canada an independent llne Int"
Chicago, and crosses the Michigan Central at two
important point, and the Lake Shore at ole. 1t Is
stated that this new line viii he in operation before
the closing of navigation. The operations in
North-Westems are not entitled to notice, the
stocks being 50 cliqued that it is inmate
rial what their nominal prices NAV be.
The common to-day was worked al Sis
03j2i G37ls, and the preferred at J9l2a 5e',a
59l2 1t may safely be said that the object OF these
nuctuations-which could not have occurred with
ont the aid of the chque-was to induce some out
slider to either buy or sell the stock Central aud
Hudson sold At 102s alO2 OF this stock there is no
Uncomfortable quantity awaiting a market, "a"
price now being n secondary consideration. Erie
was touched lightly at los lOli The price of This
stock presents a strange anomaly when compared
with that OF Ohio and Mississippi which to-day sold
at 9a74aS. The former has not paid the interest
on upward of $iO,O0OOO0 of its bond, since june,
1879, aud consequently has accumulated debt 10
that extent while the latter, however badly on %
may be, thus far has promptly met all its liza
bihtles The coal road stocks are almost en-
t1.ft 4'r.l..g . flI.fT
prices yield slowly TO every attempt 10 sol.
The shorts are gradually retiring and looking fnr
grceuer pasture, in stocks that are more active.
Hence an order to sell 1000 shares of 10 Unaware,
Lackawauna and Western for an investor to-day
sent It's pnce from - 90 ISIS, although It -ub>c-
quently rallied to 73l2 agd closed at 73:5. OF Pei
aware and Hudson ouly 2jO shares changed hand,
at 72a72li Central Of Ncw-Jcr,,y sold in
moderate quantities from Sob 10 3jI. OI
Rock Island there was not single
sale the quotation being 10ld lol q.
Western Umon was active al from 72.~012'- &"
71lia71os. No little disgust j. f.lt bv tie buyer,
of this stock at 7}a7l, on the sure point that t wa-
"corncrcd." Pacific Mail presented 800 feature a
2ia2psa2rs. United States Expires was heavy
and per cent lower while The other expresses were
steady. The general market clo-cl weak, With ipal
changes from the last prices Il yesterday as follows:
Dccines-Atantc aud Pacific Telegraph. y; tb,-
cago and Alton and Delaware, Lachawauua ana
Western. each Il Erie. Union Pacific, and Ia.ac
Mail each 3; Delaware and Hudson and Illinois Gem
trail each J.: Northwest and Western onion. each
. Ohio and Mississippi, a; Central and iIuap.,
Z. Hannibal and ST. Joseph, Lo6e Shore, and N"I.-
West prcfcrrcd. each Central Of Ncv-Ja-.,, l"-;
Hannibal aud -. Joseph preferred, ! D.; N"1'l'
Central, *; United states Expires, =; ~. l"HI
preferred, 2ls and ~. Paul common, 81. Advance,
-Ncvy-l ok and Ncw-ilaycu, i, and NdbJs., -,
per cent. The following table shows the
RANCE OF TIA ~rOCE MALkLI.