New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-01-31
TUESDAY. Jan. 3O--P. ".

Seldom if ever has the stock market eXhib-
tied more mixed condition than that OF to-day. The
features the depression in ali the coal shares and
rmness for the trunk line railways and Western Union
The first may be explained By the large sales made by
real holders who just beginning TO appreciate the
true position OF their properties, and the results likely to
now from further Generalization Of the coal trade
The second cannot be accounted for upon
any other theory than desperation on the
part of the present speculative holders, who
fear the effects upon the money-lenders (wh0
really carrying the loads even OF a moderate
decline. because 1t Is well known that not within ten
years was the business OF the trunk lines poor
and Improbable at present ald that the competition
with Western Union never so formidable. Delaware,
Lackawauna and Western which 1t is fashionable to con-
slider the best OF all the coal properties opened at
1928, while Is per cent per diem was charged
for the use OF the certificates Tho price soon
declined to VIA and II s. .. while the oanng
rate reduced to ie After rally to II b. the sales
became heavy, and the price declined TO 69, followed
by rally to 7Os with final sales at 20. and per cent
paid for carrying the stock. Delaware and Hudson fell
from 65 to G1 without rally 1t being noticed that most
OF the stock 700 shares)sod for cash or In reg
ular way indicating that it was investors unloading
Jersey Central. being more speculative than
either OF the others, huctuated more fire.
auently but the extremes were 270249eV
26ls0244 025os92514, We learn, late this after
noon, that the directors Of this company have
issued circular to the largest holders OF stock to meet
them to consult regarding the present ana
prospective position of the company-a measure whlch
might have been of avail one year ago when the
company was "al right" but now probably Of little
practical effect Wnllc what has already been de-
scribed was occurring in the coal shares, Lake
Shore was being splendidy sustained; opening
at 55l4, it sold at So and then to 5o0s; drop
ping again to 55is 1t subsequently rose to and
closed at 55e. Michigan Central worked in much the
same manner at AZ a i729 4s43ls This road is doing
So well that because could get its freight forward
over the Central and Hudsoni il one week ago was de-
batting the feasibility Of sending some 800 miles around
by way OF Ogdensburgh and WATERFOWL so as to be able
to reuse the again Before the opening OF navigation
Central and Hudson but moderately dealt III, but al
strong figures, 102 0l02. Illinois Central was heaVy'
declining mon sales Of real stock from 80 to 81 H. and
closing &c ST. The company paid Sig per cent dividend in
1876 while Lake shore only paid 3l4. Rock Island
showed some fcvershness at 102d l0l's but came up
pucky at the end at 102 bid Northwestern preferred
onened down at 55a rose to 56s and closed at So while
the common without sale, 35 bid. The ST. Pauls after
being rather steady at Ills l7as and 46i i6l for the
common and preferred respectively. toward the
close became active and advanced TO 1sl2
aud 477sa47l2. A study of the official list
of sales Will best explain how it was done
Hannibal and ST. Joseph common and preferred were
without sale, quotations being unchanged. III may DC o
interest to stockholders to know ta the Lcgsatu Oh
Missouri has appointed committee TO investigate the
affairs company. Union Pacific was active selling
no TO 6 - and then declining To 6lo8 western Union
followed OF the trunk lines OF railways, sell
ing ut 75sG755s but rallYng with them to I6s slen,
after again selling at 1913, closing nIln "a! 20 tMteu
States Express made further decline to Do, closing
weak the other expresses being with0W change. lAe
total trgnsac ions-l62 800 sbares-represent IAN
DAYS business market closing generally frin Inc
following table shows tie