New-York tribune., 1876-07-22
SALES FROM Dig O'CLOCK TO CLO
Q'FrpCE.
FEIpAY. July PIP. N.


"V-ben tie cat is away the mice will play Is an
,ld adage. the truth of which illustrated in to-
5ay,. stock market In the absence of the recent
"buIl" leaders. some of the smaller fry attempted
In the early trading TO copy their tactics and gave
n the market a good send-Of by rallying prices ds
10 . per cent from the opening only to be mortified
bv as quick drop. However, they were enabled
TO come out at the end of the day winners, through
the o!p0rune circulation Of one of MI Charles Bar
retts papers which was published in The BofoH Jour
rcIof Ju 49, which being devoted to the bulling Of
Chicago. Milwaukee and ST. Paul stocks, had
marked effect in frightening the shorts in these
stocks into covering thus causing an advance OF d
pcr cent for the Common, and 4 per cent for the
Preferred stock which in turn was not without It's
effect mon +he rest Of the list. Whatever may be
tbe ability of Mr Barrett a. railroad expert, which
his effort, AT exposing the condition of the Eastern
Railroad Of Massachusetts,, and Of the Michigan Cen
tra Railroad prove 70 be Of mean order, his artl-
Gle of las, Winter upon the Lake shore Railroad,
when the stock was selling at about 81, and
this one now upon St. Paul clearly show that when
the occasion requires he is fully competent 10 re-
strain his powers of analysis, The article upon st.
Paul simply copies the figures Of the COEpanys an
nual report, which any one may obtain upon apph-
cation to the COmpaDys office, and makes no pre-
tense Of analyzing those figures. For instance be
amounted to S1.O3J.5J9, after the payment of in
terest on funded debt, but is so conveniently
blind as not 10 discover that the fuel
and supplies" on hand D,c. 81, 1875,
amounted 10 only 1896, ,913, against T7O1, ,432 on
hand Dee 81. lS74-a decrease for the year 1919 Of
Si6sJ1 or nearly oue-laf Of the surplus earnings
reported 10 be remaining after the payment Of in
terest. He SAYS: The report shows that charges
have not been made TO construction account which
belonged 10 operating expenses, ana that operating
expenses have been sufficiently large u maintain
and improve the property especially the tracks, on
which the amounts expended were as follows;
n.....-.,....-.... cont. 1873. Is7l' 1873.
A reduction OF A 40 per cent from 1875 and of
1880 per cent frcm 1874, IN this iteu when it Is
remembered that the Company during the two
years Of 1874 and 1879 has charged 10 construction
account the sum Of III 1217.O43, and has increased
the length Of iJs road only exactly one nile, and
also that this alleged expenditure produces for the
first SIX months Of 1876 more than S5OoGOo less OF
gross receipt, than for the corresponding slN months
Of 1874, hardly bears ont the inference which Mr.
Barrett would have us draw. Perhaps il was due TO
this article that a Wiiliam-st. broker yesterday
received his order by telegram 10 buy The
Preferred stock for accoaut Of an active
specUlatoT who chances 20 be rusticating ia the
h''shDoIhoou oI Boston. The Common Stock to-oay
opened al o91a and advanced TO 40, while the Pre-
TERED aIIer selling at 7O5s 90 7I7s The North
west stocks sympathized in The movement TO the
extent oi o Per cent rise for each kind although the
trao-As 's usual vas extremely Light. Lake shore
opened al o3'saJ3l2, quickly sold at . 4. and a.
quickly backto J55sa53ai, when it remained dull
until started into life by tle movement Of the
grausers, when il sold up 10 5iIt. CLOSING at 81.
Michigan Central improved 20 4G34 aid.l thereto
BY sharp demand for the delivery Of stock The
bears in this stock seem to be 30 per-
sisteHt that they constantly oyerlo the thing
and corner themselves. Tie coal carriers were
trife better bat presented no features of interest
The information comes from PHILADELPHIA thar tine
coal combination viii be maintained for the balance
OF tins year. Western Union was dull and steady
al 'O'21 1J34; the only feature Of the trading
seemed 10 be disposition 10 sustain the price at the
opening. Pacific Mail, which opened at 237., was
carefully watched and guarded all day by a promi-
heht specu.AOr who usually distributes his fayors
around tle entire list, and under his nursing was
galvanized 10 2ilI. The market closed strong at
about The best prices Of the day. with tie short in
tefe' nearly all closed up the effect Of which viii be
10 place the entire load Of any further advance upon
the shoulders Of those interested in high prices The
AdFaAces IL prices from yesterdays closing quota