The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-01-10

the positive announcement at noon that the Lake
shore directors had declared dividend OF per cent
did not rescue the market from Its torpid condition
with the declaration Of the dividend the Lake Shore
Company issued Auditors report for the hast six
months which we do not hesitate 10 say is the most
remarkable document for its inconsistent and mpos-
siblo statement that emanated from official
The statement says that the loss gross earnings from
freight was $s73OOo, caused by dminuton volume
OF 66lO0 cent and by less price business done
of is 65l00 per Now the total gross earnings nom
freight in the corresponding months OF 1874 were
S., 6969O9 and 1t requires slate and pencil 10 dis
cover that these percentages produce much larger
than that stated the loss freights for the
past six months Where is the little jokerf win
some "expert" explain.
INVESTMENT SECURITIES
On Thursday there was a complete change
in the tactics employed, and might have
fairly believed that the entire Of money
discussed for January dividends and interest had
been turned loose upon the Exchange active
the apparent demand for investment stocks New York
Central took the lead advance to 1861 followed
by Harlem, Delaware, Lackawanna and Western, Rock
Island and all the other good securities, Illinois
Central. which, for reason neglected by in
vestors Concerning this stock by OF parenthess
there to be growing impression that its Invest
ment in its New Orleans line is likely to prove unsats-
factory and unremuncrave People do say that freight
will float down the Mississippi River much cheaper than
1t be hauled by a locomotive At oil events the
stock been but little sought after since the discovery
that portion Of its past dividends had been paid Of
land sales instead OF from earnings There is,
however, but little stock floating in the street,
which has a tendency to keep its nominal quotations
quite steady. The movement referred to among the
fnx.ac koI ma. for
upon the specuatives Michigan Central stn acting as
demorallzer by still further declining 81 after hav-
ing rallied to so. But on Friday, the movement in in
vestments being continued, and Western Union com
ing forward with advance 1884, the whole list re-
sponded and the market ended hrm, with generally
prevailing impression that the Centennial Exhibition
had opened and in the full blast OF success The
last ''bear" home, regretting that he had not
covered his stocks before the Exchange closed and in
great doubt about being able TO do SO at any price on
the morrow
SATURDAYS MARKET
is OF SO recent date not to require another descrp
ton Suffice 1t say that the "bears" one and all,
surrendered just the moment that the bulls"
about do so from sheer exhaustion after the past
six weeks strain and anxiety, and thanking their
stars for the lucky fright Of their antagon-
lists, did not hesitate to sell rapidly as
possible The effects OF this realization
seen later in the day in the sharp decline ofMr
Goulds favorite "pets," Union Pacific and Pacific
Mail followed by the whole list It is not probable that
the different cques all of their stocks that
the market will continue to respond to speculative
influences but is quite evident that certain of the
large operators regarded the decline of Saturday after
noon with complscency that sensation to
them An examination of the best figures made yes
erday the speculative shares shows that they did
reach the prices OF the October rise; yet since
that time the most superhuman efforts have been
made to put the market up. The HERALD has fire.
quently made the point that
THE RISE AND FANCY STOCKS
in Wall street longer indication Of the cond
ton Of the legitimate business of the country For
merly there were few merchants who, finding them
selves possessed Of surplus beyond the requirements
of their business did times enter the speculative
ring and take at least "a flyer" Now however, the
number is small, indeed, who have the necessary
plus to engage speculation and these do propose
contribute to the support Of the members OF the
Stock Exchange While there is so little nducement
for capital upon enterprises 1t is natural
that the best Of securities should continue float
away from Wall street; but it is just natural land the
necessities OF holders hasten the movement) that
securities tainted with doubt shall steadily accumulate
in the market Hence 1t is that the purchase Of
block of stock by "a poo affects the market
price so nsignihcantly
HIGHEST LOWEST PRICES OF THE WEEK.
The following table shows the extreme fluctuations
for the week the leading shares