New-York tribune., 1876-11-23
WEDNESDAY. Nov. 22-P. N

"WEDNESDAY, NOV. 5Z-P' b.
The stock market to-day was prolific of riddles.
Renewed reports of agreements between the trunk
lines of railways were not wanting to add to
general confusion of ideas which might alone have
been created by the mudded condition and strange
movements made in the Lake Shore stock. At time
of writing the preponderance Of conflicting rumors
seems to indicate that with closing of the lake and
canal competition the principle of vital import
ance to the port of NewYork as well as to the Cen
tral and Hudson River Railroad" is to be yielded by
Mr. Vanderbilt and the old discrimination against
this city and in favor of Philadelphia and Baltimore
reGstablished While we still hope that this event,
which will prove as damaging TO our rail-
ways-the Central and Hudson, Lake Shore,
Michigan Central and Canada Southern--as to this
port may be diverted, yet if it shall come, 1t VIII
show that THE TRIBUNE has been correct during
the entire Summer in its opinion that the "war"
was directed against the interest of our water
courses rather than against the railways running to
competing cities. On the Stock Exchange the Lake
Shore speculation continues to be the great mys-
terry. During the past few days a noted bear"
firm has been the principal buyer, while parties
heretofore openly identified with the "bull" side
have been the chief sellers. Hence the general
muddle which exists in the minds OF operators To-
day, after opening at ssh, the stock declined
TO 81, rallied to 577s, again declined to o.
and then. after selling at 573i, closed at 57Ss
Its course to-day has been inconsistent with the
generally accepted idea that the purchases by the
firm before referred to for account of some rail
way official who knew what he was doing" in
such a case it is strange that Some wideawake ope-
rator has not ventured TO suggest that it would be
a shrewd move on the part of the clique to employ
the firm, supposed to be near the secrets of more
than one railway official, to buy the stock which 1t
was selling We know nothing about il, but such
course has been followed before and may be
again. Michigan Central, which recorded
sales of 1900 shares, opened at 444 de-
clined TO 422. and closed at 43A. The
St. Paul stocks exhibited considerable vitality
considering what is already known as to the earn
ings for the third week of November 1t seems
probable that the accumulated short interest in these
stocks was made the basis for an upward dash to
cover the sales being made of other stocks. OF
Northwest common but 800 shares were sold at
355s035as935l2, but of the preferred 4,GOO shares
are reported (which amount viii probably surprise
the operators who were watching it at 5s9i95S0
ssh Erie was remarkably weak at 101i iG9l2G 95s
considering the numerous points" to buy it which
have been current for the past few days. Central
and Hudson sold at 1022IG1024. Illinois
Central, after its recent heavy decline, had
its first rally, selling at 69071. Della
ware, LackaYanna,- and Western, after
selling from 6sG to 67ls rallied to GSl4 on the COW
ering by bears, who probably were disappointed
that the decline in the prices Of coal sold to-day as
compared with the October sale Of the same COM
pany averaged only from 1294 to 52a cents per ton
Central of New-JeIsey steady and lightly dealt
in. The market closed feverish and irregular; the
final sales comparing with those of Yesterday FOL
lows Declines-Union Pacific. ls Rock Island, Il;
Delaware Laekawanna and Western and Western
Union each 3s; Central and Hudson C.. C., G. and
In, Central of n J., and Northwest each l2 Chi
cago, Burlington and Quincy and Erie each os;
Hannibal and st. Jo Michigan Central, Northwest
preferred, and Adams Express, each -, and Lake
Shore, g. Advances-St. Paul and Pacific Mail,
each l St. Paul preferred IS; Ohio and Mississippi,
u; American Express. Ss Illinois Central and
Wells, Fargo q Co., each per cent The following
table shows the
RANGE OF THE STOCK MARKET: