New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-10-23
OFFICIAL REPORT VIEW TOPT Nr"rvf STOCK E1'
CHANGE SALES OCToBE' 2 q. 1877.
FIRST BOARD-1l
THIHD BoARD-2:30 P. NJ.
American Flag


In the course OF time IL VIII come 10 De
stood that tho directors and executive officials OF
corporations are influenced by the same hopes and
fears which control persons in conducting their pr-
vate affairs. There is more haste in the one case
than in the other to publish to the world the result
Of accidents or mismanagcment. Before each
class is the future, which, il Ia hoped, VIII
make all things right. The first concealment
is practiced with the honest intention Of henef-ng
the company. But il makes the second and third
necessity. Taking human nature as 1t Is, always
buoyed up by hone all this is less the fault Of mall
ayers than of our laws. which leave to manager, the
o,poriunitv of concealment, instead Of requiring
a strict account of their stewardship al certain
fixed periods Take, for instance, the laws of
the State relative to railroad reports IL would he
difficult TO conceive Of n scheme, requiring any
reports. which would demand 50 little Information.
Everything is stated on Conformation and belief
and there is very little even, Of matter prepared Oh
that oasis. Bonds NAV be sold at 80 OF 800 and no
accounting for the deficiency or surplus IS required
Ten per cent of the gross earnings is reported in the
case Of the Central and Hudson-as miscellaneous
and the law Of the state of Ncv-York is complied
with. Yet finally when the COLLAPSE comes The di-
rectorv is held up to public Odium, although the
past year has furnished more than example Of the
"infatuation" carving down executive officials to
one common financial ruiu with their companies.
On The Stock Exchange the week opens with
disturbed stock market and all prices tending DOWN
ward Accompanying this condition OF affairs,
there have been numerous minors Of financial
trouble which heretofore have omitted 70 notice,
and only notice now 10 say that they grow out OF
the decline in the price of stocks, and that
the fail is in no wav due to the rumors.
II has been forcordained from the beginning OF the
late wonderful rise IN stocks that the first serious
a. - l., he M
paicn. And although the market for sometime to
come is likely to be subject to frequent and SHARP
rallies The hour IS fast approaching when real val
ues will command more attention than the capital
Of few infatuated individuals.
Following the opening this morning, which was
at a concession from Saturdays prices. there was
quick and sharp rise Of l2a1 per cent Blt this wa>
succeeded by heavy selling movcm m, which
caus prices 10 fall below those recorded 'r many
week, past. Subsequently tie market Inct1ated
up and down within range OF per cent, aud hnal,
" closed about midway between the hl@hr'I ana
lowest prices Of the day All the 81 ckS. save West
ern Union. closed below saturday mig 7 prices.
Tie coal stocks continue 10 he q fraction ln thfr
resistance to the tendency Of the general market
but mis- - mainly because the short interest J.
ont of the stock and therefore inter cd ~
marking the prices down. ! he holders OF the large
blocks know chat 10 attempt 10 sell would he USE
less lie financial Chronicle says:
n is reported tlt she whole ~ The recent nortg 2
Of the Delaware q Hudson not reserved to cover lc
100000 BONDS due November ], ana tnc SJ.'pVO'V
served 10 cover mortgage OF the case, hereafter
lue La, been tl6cn. :5,OOJOOO IN amount, by synd
.t,e Of The directors of the company Messs. Aston
X Kennedy and P.erp0nt Morgan.
On applying 10 the company for information rs 70
tine nai;er the officials decline 10 furnish any, and
Mr. Perpont Morgan, one Of the syndicate mem
Toned Informed lRIBUNF repO ter that II was a
matter which did not concern the public But from
mother source which We believe 10 be trustworthy
we learn that the report true and that the bonds
were sold AT 90
Notwithstanding the late rally in prices, the mar
ket CLOSED fcveIIsh and weak.
RANGE Or THt STOCK MARKEI