The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-05-22

RAILROAD BoNDs-strong.

AhhN hAAOaNb AfgNbo-DhuUEt
STATE SRCURITIEs-Steady.
SToCEs-ShaIe speculation opened buoy.
ant, with continued upward movement
IN western shares, Northwestern advanced
from 23H 10 2lE for common, and from
4Vll to J0k for preferred, and st. Paul
preferred from SOY to 6lI[i common sold
ut 20, and Rock Island at 95n95II. The
rest of the list dragged along slowly, how.
ever, and instead OF participating in the
lirmness Of western shares, sagged o. New
York Central from 9iH to 933{; Lake Shore
from $685. to 5?5s; Michigan Central from
4jAai6 to "A, and Western Union from Go
10 G2H. Coal stocks were severely han.
died, Delaware, LaCkawanna & Western
dropping from l92{ to Az, the lowest
price yet touched, while Delaware & Hud.
son fell 4 per cent to SIX, and Morris Il
Essex ~ per cent to Us. This decline
Occasioncd u check to the advance in
western shares and prices fell back Il to
II per cent. Toward midday the scene
changed again, and n strong buying move
ment carried Rock Island up to 65Js, North.
western common to 2i9s, preferred to 505S
and st. Paul preferred TO 5l2S. The rest OF
the list recovered the early decline, but
displayed no particular activity. In the
afternoon the general list was weaker, but
somewhat better at the close. Delaware,
LaCkawanna & Western advanced to Al
and reacted to 42;s. Delaware 4 Hudson
advanced 39A and reacted to 3S34. Nor.
ris 4 Essex rose To 70 and closed ut 60.
New York Central fell of to 93h and raj.
lied to 93lE. Lake Shore fell oil to 52J{.
Northwestern common recovered from %
to 233I, and preferred from ig7S TO sou.
81. Paul common declined to 1917 and pre.
ierred TO 90, but the last named recovered
to 50I. Rock Island fell oil 10 9I1z and
closed at 9i5s. western Union declined
to 621s aud Pacific Mail reacted to 223z.
Michigan Central dropped to IS and re.
covered to 1917. The advance in western
shares in the early dealings was based on
the belief that the crops are looking better,
while the iirmness OF the trunk lines was
due to the report that the pooling arrange.
mcnt had been perfected. The weakness Of
the coal stocks was due to the rumors
about the answer Of President Gowan
to the proposition of the coal conference.
one report stating his answer was unfayor.
able and the other that it was conditional.
The suddennesS with which the general
market lost its buOyIncy attracted consid.
cradle attention. The depression in coal
stocks may have had something 10 do with
it, rs did also probably the disposition
among traders in the room to accent the
profits Of rise. The transactions nrgre.
gated $4,000 shares, of which 200 were
New York Central, u 7CO Lake Shore,
2,iTj Northwestern, 2i,5OO Rock Island, IS.
900 st. Pauls, $1,000 Delaware, I.ackawanua
4 Western, $500 Delaware i Hudson Ca.
nal, 600 Morris & Essex, 1900 Michigan
Central, l,2C0 St. Joseph, 10000 Western
Union, and 1880 Pacific Mail.
The activity in Pacific Mail is probably
owing to the movement to Gust the present
management. At the coal meeting TODAY
all the companies were represented, and
every enc present voted to suspend mining
from June Is to July Is, with the excep.
ton Of Mr.. lloyt, OF Pennsylvania, who did
not object to the arrangement, but de.
clined to vote for it. Reading was repre.
scented by Mr.. Klein, who voted for the
resolution subjec! to the approval Of Prcsi.
dent GOwgn,