New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-06-12

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in 1870 the Same road could not pay the interest q,
500, OOO, 900 of debt and dividend of 81. OO0
per annum out of the profits of carryin,
grain at 80 cents per bushei. The secret
is in the large business done, and n.
lenQth of the train, "chiety local." Another road
sway out West" which has during the pas. three
years paid out as dividends az, 100000 of its own
bonds, representing earnings that have been paid
out for construction Gust mile has been addsd
to the length of the road, is doing so well npon
the newly discovered principle that casb
dividend of 3l2 per cent is confidently ex.
pected in October next, notwithstanding
that the interest charge has been increased
$4,000 per annum, and that the gross earning,
for five months this year are about $JOO.OOO lea,
than for tho corresponding period Of 1877. Surely
such instances Of mastery management should en-
courage our New England friends not to give no thu
shop or ship, if the composition insists upon It, az he
probably win, but to call Wall Street IT, their aid
These views whether correct or not, SEEN to be
refet ted i'm the dealings NJ the Stock Exchange and
in tho apparent faith exhibited there IN pfrs
ent or higher values. The signs Of general
prosperity" have not perhaps been as marked
IN the dealings of the past in those Of
the preceding week, yet, after some slight reactions
Of two to Six per cent. the market recovered par.
italy, and in many instances closed higher than on
last Saturday. Pacific Mail was irregular. selling
from 273s to 21s, through fear that the Com
pany's new sponsors were about to abandon the
ship: but when it became known that they had
really put their hands into their own pockcts
and had Dir. Parks assurance that the Panama
people had not sold any stock, sharp rally to 2Jl.
occurred. and points to buy were plenty dur
ing the week before when the price was 2S West
ern Union. after selling at 70is in anticipation Of
the dividend reacted to Gs and then back again 10
1914, closing at GSss. The rpport of this company
for the quarter ending three weeks hence fur
nishes another illustration of low rates being
the most profitable, and story was
floating about the street, for which we
could find no responsible vouchers, 70
the effect that the Western Union Company. in
anticipation of still larger profits had concluded TO
reduce its rates all round % per cent. The public,
who like cheap telegraphy as well as cheap trans
portation on railroads, would doubtless be pleased
10 learn that so pleasant a story has substantial
foundation. Lake Shore has been the
most active. and for this week shows
the greatest advance among the prominent specu-
latiye shares. After frequent fluctuations between
527s and 547s it closed at sill, gain Of IL per
cent Nearly all the operators have now had sight
of that 5000 600 in the treasury" and are doubt
less prepared to receive the promised dividend. II
ID could be fastened little, it would
oblipe many holders; and why notf In
1873 the August dividend was declared fully
as early as this although the arrangement TO borrow
the money Of the Union Trust Company with which
TO pay it was not made until July. Ohio and hsis-
sipp was unusually active and weak, selling IRON
17is TO l5s,@l6I40I6Is Pacific of Missouri,
the order of the Court sell the road under tore
closure sold down TO 5i2 which price 1t seemed TO
be steady Wabash declined 3s per cent to i'b
because by the sale of the road that occurred
to-day the stock is presumed 20 be wiped our,
although the stockholders have the night OF re-
demption. Only two years ago tins STOCK was
regarded as cheap at 1910. The road was bought
nv the following Committee Of tine gold bon9hold-
srs: Messrs. John w. Ellis, John I. Martin, George
I. seney. Alexander NJ. White, ard II. A. " Post
The total issue of gold bonds il 81 900 900 and this
Committee represent 81 ,943.0O0 of investments
Central and Hudson was weak and Rock Isla I'd
strong The cOal-carrying stocks have been steady
within a range Of / 0ll2 per cent, waiting develop
ments concerning the July dividend. Taking tbs
market rs a whole it has been firm. but presenting
no features other than those appertllnIng TO
brokers' market. The sales of the week were
somewhat larger than those of the week preceding
annunring to nearly 666 900 shares. Comparing
The closing prices to-day with those of last saturday
il will be seen that Del, Lack and Western 81 Joe
u. s. Express, Pittsburgh, and Western Cnloa nave
each advanced ls per cent; Wells Fargo, ana u
Louis. X. c. and n, each Il; 81. Paul Preferred, Vi
Adams Express Harlem, Morris and EsscH, and ~
Louis and Iron Mountain, each IL Northwest 81
Panama. / NORTHWEST Preferred lis; Michigan
Central III; Illinois Central and Lake Slore
each 1l2; AlaripOsa Preferred, and Chicago
and Alton Preferred. each 2; Chicago and
Alton Common, 2l2; and C., C., &. and L.
81; per cent. The declines have been in Ere,
Fort Wayne. and st. Joseph Preferred, each s;
Chicago. Burlington aud Quincy. and Delaware and
Hudson Canal each u Sc, Z. and l. c.. and Wabash,
each y; American Express, Atlantic and Pacihc
Telegraph and Producers Petroleum, each y; ONO
and Mississippi, /; New jersey Central 1885, Rock
island, g; New-York Central, ?; Pacific Mail, "a;
Ohio and Mississippi Preferred, 3i2. aud Missouri
Pacific per cent The following table shows the