New-York tribune., 1876-09-07

five minutes of business. Bat they as quickly
yielded upon the FIRST attempb TO sell, the advance.
having been engineered of course for the pnrP0ss of
selling. The sudden apd rapid deeline ia hev-Ier-
sey Central from 81 to - further frustrated the de-
signs OF the clique that for the remainder of the
day they we're forced TO stand guard and susGain
their fayorites which resulted in still further ac-
cumulaton of stock. Lake Shore opened at 5Oai,
and sold at 5105g4 4Q5040J1ss while
Michigan Central Auctuated between 379%0s0
361t lg33SIs. The low price Of Michigan
Central as compared with other stocks of no
greater intrinsic value renders II particularly
sensitive to any favorable news, and such is gener
ally considered the reported gain in gross earn
ings for the fourth week of August, although it 10
extremely Doubtful if the net earnings for the same
time would show any gain, il indeed they did not
return an aetna loss II Seems idle for investors TO
try to persuade themselves that there is any profit
in rairoading even at the schedule rates as at pres
ent fixed and contracted for, during n period run
ming from three to nine months. For example, we
know that an extensive Front-st. forwarder yes
terday made shipments via Pennsylvania Railroad
to Chicago at II cents, which is cents below the
published tariff. This is at the rate OF about pig
mills per ton per mile, while the report of the Cen
tral and Hudson for the year 1875, with ITS three
and four tracks, admits cost Of more than mills
for each ton moved Que mio. As to the speculation
in Lake Shore, it sufficient 10 that its present
position varies but little from the time when the
prlce was maintained at about ~. The new pool
spoken of is mainly the old reorganized after the
demoraliza ion caused by the recent break in the
price TO 1884, Rock Island ia also receiving the at
tentOn of portion OF the members Of the Lake
Shore pool, and no favorable moment of marking up
its price is neglected although there seems to be no
great desire TO buy the shares. To-day II sold 1910
l0lbs0 103i2D10lls The 81. Pauls and North
Westerns were higher, in sympathy with the other
shares Panama sold TO the extent of l,lOO shares,
all at 90 seller g. seller 10. and seller 30. The coal
shares continued heavy after The spurt of the moT-
ing; Jersey Central, after selling from "a down to
25. rallied to 20lA, and fuctuated wildly between
81 and 29ii until the close the final sale being at
the latter price, Delaware Lackawanna and Vest
ern started at S224 rose to S3i2,
and then declined to. 8O3i, closing at Slts.
Delaware and Hudson sold at s19lG797s3s0.
Western Union was inactive at 697s@7OL0G94Q
7Oll. Atlantic and Pacific Telegraph, on sales OF
900 shares, closed with decline of 1l9 per cent
at Is. The general market at the close looked
strong at about the best prices Of the day. because
of the concerted action of the ciGues to make 1t So
The nal changes from yesterdays closing prices are
as follows: Advanccs-Ere, Morris and Essex, aud
ONO and Mississippi, each ls; Missouri Pacific, Pa
cifc Mail, and Union Pacific, each Il; North-West
common and preferred each as; Atlantic and Pa
eifc preferred, c. G. and l. C., and st. Paul pre-
ferred, each le; ST. Paul and Western Union, each
% Illinois Central, Lake Shore, and C., g., T. and Is
each /, and Michigan Central 2. Declines-harlen
and New-York and New-IIaven, each Il Wells
Fargo Express, y; Delaware. Lackawanna and
Western. rs Delaware and Hudson, l Il Atlantic
and Pacific Telegraph 112; Panama, 2. and New
jersey Central 39i per cent. The following table
shows the