New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-05-11
N j Central
WEDNESDAY. Nav 1O-P. NJ.

The stock market today started under p full head
of steam that carried prices rapidly upward, badly
frightening the remaining bears and aforiIng the
manpulators fine market on which to unloadtheir
purchases of the past few days, opportunity which
they failed not to improve. This being accom-
plshed tie market at FIRST sagged and Then became
weak when report of Mr. Vanderbilfs serious i'll
ness was circulated, only to be quickly contra
dieted. and, curiously enough, served to steady
prices for a tme-perhaps upon the theory that the
Old cry of wolf can longer fTighten--but subse-
ouently under a continued supply OF stock, the
mark ct weakened still further, and closed at the
lowest prices of the day. Lake Shore was the leading
card and, after opening at 3d. rapidly advanced TO
&C. causing a sharp scramble TO buy the part OF
outstanding shorts. The prices then iiuctuaied
between 552i and 557s for a while, broke TO 80, fol-
lowed by a rally to Jj3s which was succeeded by
decline to 545s, a point from which it was again
worked up TO 55. only to drop to 81 a al the close
Michigan Central followed the fluctuations of Lake
Shore ia its extreme range of 47'S049G +6@I.
Western Union az the next active stock was eagerly
bought from 6G3i mp TO 67os, and closed weak at
66ls- Erie sold at 1880 lJ$iG1Jl The ciiques
in st. Paul stocks improved the opportunity afforded
By strong market to sell more of their holdings,
which was done at 3S3i439lsG3S for the Common.
and at 51tG6512d64l2 for the Preferred The
NOrtb-West stocks were quiet and not III demand
at 403, a 1893 for the Common, and for the
Preferred at e149J0l2a59 Ohios sold at l7@i
to l67s The coal carrying roads were unfayorably
Influenced 10y tine published statement of the Della
ware and Hudson Canal Company and By the recon-
incubation OF its directors that It's rate Of dividend
be reduced. Delaware, Laekawauna and western
declining TO 105l2 and jersey Central to 93i2, with
sales at 80 seller CO. 1t win be remembered that The
TRIBUNE gave timely warning as to the finances
and business of these companies. Rock Island was
well sustained by the same parties who have been
dealing extensively ia Northwest, holding its
price at 105s, better in the face of denoralized
market. Illinois Central was weak at 1854, while
Central and Hudson improved TO 110li. The
transactions in Pacific Mall reduced to 800 shares
require 10 comment. The recent :" bun movement
the progress Of which has been daily portrayed in this
coluIin, seems to have eliminated with the
Of the shorts" early this morning. and the market
to have returned 20 its normal condition Certain it
Ia that there has been reason for the recent ad-
vance beyond what might be found in the possibly
Oyersold condition of certain stocks. No meeting Of
railway officials was held at Chicago to-day, nor was
one called. was reported yesterday Yet the ma
nipulators have undoubtedly met with a success
that may at any moment tempt them to a repetition
OF the game when, in their judgment, the market
may be ripe for it.
The business of the day shows some improvement
over that OF yesterday, and the final changes are as
foiiows: Advanees-Central and Hudson, a. and the
dechneS-Deaware, Lackawanna and Western, pa ;
Ere, Ia Illinois Central. Il Lake Shore 7s; Mich-
gan Central, 81 Northwest, Il Preferred, Il; Jer
sey Central, Us; Ohio and Mississippi, i2; Pacific
Mall 4; Rock Island, Is; st. Paul, "a: Preferred
western Union, %, and gold, Il. The remainder
were unchanged. The following table shows tie
range Of tue market: