New-York tribune., 1877-10-18
)FFYCTAI REPORT gER TORK BJvTES sToch EA-
CHANCE sAGEs OCTOBER II. 1871
FIRST BoARD-l1 0'cIocK A. ".
THIRD BoARD-2:30 p.
WEBNEsDAY, Oct. Up. N


The anxiety exhibited M the close Of business yes
terday relative TO the course Of todays stock mar
ket. seems to have been not without warrant. Each
day furnishes evidence that the control of the mar
ket so lona enjoyed by q few wealthy
gentlemen. is gradually slipping from their
grasp. But it by no means follows that
they yet have lost all their power 10 make higher
prices. Hence il may be still too early to di,re-
gard the caution which we have frequently pat
forth in regard to sales for the " short" account
An accumulation Of such sales would furnish
temporary stimulant 20 the waning power.
The attempt early in the day to give 20 the market
an appearance Of mysterious strength by circulating
the report that two three of the large operators
had sold Yesterday all their stocks, which had been
absorbed without affecting prices lost all its force
when later the principal stocks declined from to
3 per cent. The truth probably Is, that these sales
were only begun yesterday, and were folowedup to-
dav with results damaging to the temper Of the
speculation.
The malk ket opened tins morning with boldncss
which within few moments sent prices up abont p
Dor cent from the first sales But this buoyancy vas
Of short duration and all the rise having been lost
the market was FIRST dun. then 'saggy,' and finally
inclined to panic This state of things succeeded
bv a partial recovery. Lake Shore and Michigan
Central suffered the most Lake Shore selling down
10 6s 0GS8a after having opened at 7l01l14, ana
Michigan Central to 640Gfl2 after having started
at 6S against 74l4 on MOnday. Central ana liud-
son drtppef from 1OSl4G1OS3i 10 1O6sa lO4 ls,
and Erie (which every body had tie point 70 buy -
IN fell from 1879 70 1890 13ls. C., C., e. and l.
yisl led from 40 90 ~. lhe GRANGER Si3cks "tie
not an exception to the rule Rock Island dccl ned 10
I02: ST. PAM common to 80 preferred 10 % - Noitl-
west COMMON % 3Sle03J, and preferred 10 oti2'
Although II was not known until alter board hoiHs
that tine Missouri court had granted the petition Tor
the appointment Of a receiver of the HANNIBAL anu
ST. J0soDh Railroad It's common stock t-cIhrl 10
I07.al13s and the preferred from 21l2 20 80.
weight flnCles were all involved H. che general Ge-
mora izatou. while New Jerse' southern alone main
tanned 10 usual quotation OF 's0 g.
ST first tine coal stocks stTug ted against the Ten
drrcv nf the market and Delaware, LecSaWann1
and Western. paracul1rly, WIS sustained by dipii-
cate o.ier- from Exchange Court 90 bd iJr Do ".n-
ouf bu,iug The latest point given ont about tins
stock Is. tnat the President of the Reading Company
is tha buyer ~ it. With Reading selling a. ~ ~
Philadelphia, and Delaware. LacaaWanu "nd W 81
er .t 30 here thlsstorv may be good enough eiof-
crnD for the lat.tldo of Ncw-loTk. out 70 makes
Puilado lpuans laugh. Durug the Whole forenoon
ire rTee Of Delaware, Lackawanna and " c5tern
l3le and closed at 1912 Delaware ANA Iihu1nh
sold 90 tz7sa II y; AoTs and fs-eX at ''49'o
and Central of Now-Jer,3y at l1l20l4,
The Western Union speculation favored lower
prices and tle stock dropped to 1oaia15io Ihas
ufalou.ed negotiation 90 arrange the details OF
paries hangs fire. The compact has been confirmed
finally by both boards of directors. but he TWO con-
ln!tees m charge OF the mIlter seem TO get further
tparf al each meeting. lac ic Aail and The Quick
silver stocks presented 80 features to-day
RANCE % rHE STOCK MAREgI.