New-York tribune., 1876-07-28

shall be ascertaned For If it should turn ont that
the business for the remainder of the year, July TO
December inclusive, should show deficiency IN
stead of profit above interest and charges against
income account, tie question is suggested what re-
course have the holders of Common stock by when
they can recover that which has been paid ont ms an
unauthorized semi-annual dividend 10 the Preferred
stockholdcts' The Common stock opened at
87la. and declined TO 3G7sa&7. The Pre-
ferred sold at G92la 97s0GsLa 6sA0 GsA@GSi2'
It should be remarked that the following resolution
ra.,ed at the meeting Of directors held the 2Gh
inst was simply done in order TO be able to adjourn,
one member ucrsi,ing IN insisting that the Common
stock should receive recognition: " hca0ttd, mat
The consideration of the payment of diVId'no III
October on the Common stock he deferred {" the
18Th dav Of September next, at meeting OF the
Board 20 be held ar that time" AS the Companys
own statement shows that only $g9,7l1 viii re-
main from the earnings of the past six months after
uayucut of the dividend on the Preferred stock, 10
is not likely that tho September meeting viii &C.
cupy much time in discussing the question. 1He
following is inc statement OF earnings for six
months ended Juuc 80. 1876:
Baauce 90 crcoi, OF income &C
drYd IN Np1lI list.. ....... Sl,029iG9 -
Earnings Tor So months ending , -,--o
Net income ....................... s4e57i.7 80
Six mont s. inter st oi. mortgage
. 10 lst Jul}, 1870. ..-.-........... L"'N''' h'
Balance income account ......... sl.J'S' I7l -
SI.25l, a,5 pr5i,ted stock. +-"ooG 20
Balance. .......................... sII2,,Isl -
The dealers in North-West stocks exhibit an un-
complimentary appreciation Of the facts detailed
in the Nicc-Prcsii,uts rcceuty-pub''shcd letter.
and the stock declined q pen cent for the Common
fnvt tl..i f.rpt . q
70 G2a,. closing heavy after light husincsS. Mich
i.an Central was depressed from 4f7s 10 1880 i3
by. we suurose We must say, short sales,
as il seems to be the fashion to be
Ec,c that nj present no real holders are selling
ans kind ot stocks Ohio and Mississippi pres nted
"a somewhat Guurr front the sales being at l2iID
i9s.912al2ls Hannibal and 81 Joseph stocks r,-
,.i,ed a black eve on very small proyocatIou, 800
shave. so,,iur tlc Common TO / a lOl.a lo&i, ard
like oraatity tie Preferred 10 40i-a -uls. As h'-
fore stated Lake shore stood firm for tic best p1rt
of the day. Opening at 5%A 70 lc.'ia,rd at '"'2
then sold n 81. followed by quick return t".'"'i
hut finally ended al J2@i. Western Union, IKE i'N'
Shore was made t. stand firm al 80, after "'fH4
or..rcd at 7O3s. but subsequently, 1t S"d "' o''-"
cos Or Pacific Mail G.OpO shares were sold no
from 23ll 10 2a's. The business of the day asl''-
rarcd 13S.goO shares being about aU,oUo
less than ON yesterday, and the market
closed ragged. wi,h evident signs Of de-
moralizaton in important quarters. The de
cliurs in stocks to-day ranged from Ir to " per
cent. viz: Illinois Central and ST. Paul, car' 49,
Rock Island g.: NortA-Wc.t. = Central and llld-
SON and Pacific Mall, each q Lake shore, 's; ~
Joseph and st. Paul Preferred, each ] Ncw-JriN'E
Central. IL; Northwest Preferred, T.; 81 Joseph
Preferred and Michigan Central each IS; Delaware
Lackawanna and Western. -i2, and g, e.. I. "'''