New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-08-12
5 FROM 2lo O'CLOCK TO CLOSE OF BUSINESS
O'CLOCK.
Western Union
FRIDAY, Aug. 11-P. VI.

Dizziness approaching to s.agnatOr as the prn-
cipal feature OF to-day sock market get the sDe-
cal fayoritcs have been well and perhaps better
sustained than an active market would nave
been possible. Michigan Central again leads the
vi, of specniafion both in amount of transac ions
and breadth OF fluctuations. Opening 1T 42is, II
quietly dropped 10 417s. and then suddenly adj
yauced to 12H;, subsequently declining to and clos
ing at 1928. The necessity Of preventing any
further decline in this stock seems to be at last
rccorni2ed b. the ciiques in other stocks hence
il is that the largest attention is directed to 1t Tor
tho moment, while indications are not wanting Of
ottempts 70 steal out of Lake Shore at about o..
The sales to-day were al at 1913 and 81, the
lat IT being the opening and closing price.
4 morning journal supplements orr recent Compare
son of the liabilities Of the Lake Shore and Mich-
gan Cennal Railroads by publishing the earnings
DER mile Of each company rs to'lows: The Lake
Shore earned S12 PA per mile Of road. against
Ss SCI for the Michigan Contra. The net earnings
of the Lake Shore were $3.50 per mile OF road,
against 90 547 on the Michigan Central. Assuming,
therefor, that the Lake Shore has an excess OF
priolities to take Of, amounting to S6ooo per
mile its yearly inerest-charge Oh this excess, S459,
ia easily provided out OF the excess OF net
earrings which amounts to S772 per mile"
The foregoing figures ore approximately correct as
per the respective reports of the companies But
concerning net earnings THE TRIRCNE has hereto
fore expressed its dstrust of the manner OF making
up the reports of the Lake Shore, because Of the
fact that in 1875, it reduced the amour. ct its sup
niles and materials on hand from 81 7S5, $40 10
SI45I,254 while the recent report of The Michigan
Central carries with it the conviction that 1t tells
the whole truth with attempt at concealmert
The following important item affecting the rates
for transportation after the closing of inland nayi-
cation. il copied from Tie Chicago Tribune of Aug o.
to wit:
NJ bancroft the Receiver OF the Chicago and Lafe
Huron Railroad states het all obstacles 20 the compile
sioc have been reno ed ana that the work will be
pressed forward as fast as money ana men can 10 IT.
poyed in preparing the track for The ron which will DC
delivered p1 Epth The ro1 Sy T Dee Pc
from another source that the money TO compete ,no
road Is furnished by the Grand Trunk Ralwy whifn
Huron Road Ths move true vi 5iye me , Srsnt IL
on the same footing any Of the other trunk lines lead
ing East especially as regards the making OF fae
from Chicago to Eastern cities
81. Paul Preferred was carefully rurscd all day,
and OH small amount of transactions sustained at
69l after selling at $685. while the Common, after
seIlinb AT $685., closed at 36l2. In Northwestern
Common nothing was done until after 2:30 o'clock.
when 300 shares were reported at 3S49387s, the
nrevious quotation having been 3Sl2a $3.50. The
Preferred at the same time advanced from 62SS to
g. Rock Island, after q decline to 1O5la. developed
wonderful trading interest at 1854. at which price
all the transactions after about IL O'clock were
made. Ohio and Mississippi opened heavy at 12'4,
bnt ito declining tendency was quickly
checked by boldly bidding ID, at which
price it remained sll day. with final
sales at 1919 The eoalcarrying stocks were
again heavy. Nsv-Jerey Central performed its
usual gyrations in the early trade. selling up to
but It subsequently yielded 70 61Ss Delaware.
Lackawsnna and Western ut first presented quite
firm front ct a5a4So5ia but sale Of 200 shares
on sellers option, at go days, Of from 92@So2t'
t,ousht out sufficient cash stock 10 mark 1t down TO