New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-07
PENNSYLVANIA
TUESDAY, Feb. 6-PM
Another bubble burst! is the chief record OF

Another bubble burst! is the chief record OF
today's stock market Western Union, in It's recent de-
cline from 70 to 1874 has simply furnished another ex
ample OF tho impossbility OF even cooperation cap
ial long whstanding the current which Is steadily
tending toward real instead OF fictitious values. In
yestors are in learning that corporate properties are
amenable to the same laws which are governing the
prices of real estate, labor, ana all productions, so
that they improve the opportunity offered by q
pool manipulation to obtain high price for their
stocks. The late advance in Western Union was
an ample excmplifcaticn OF this truth Real
holders were sellers OF the stock from about "a up,
apparently not believing the current reports Of largely
increased earnings by the at the reduced rates.
because was noted that the tariff was not reduced to
Docompetitiye points Thus 1t that the pool we're
able to buy and buy while the stock instead OF becoming
scarce daily becoming more plenty upon the street
In a word the history OF this Western Union pool whent
Is finished probably will be but repetition OF that OF
nearly every pool that has been formed since 1873 the
stock to-day opened at 74. and declined to 72si without
a material reaction, hut subsequently sold ut 73Ss073
The decline was steady that my" spectators were
continually buying for rally only to sell out at lower
price, so that it is estimated that out OF total transac
lions OF $4,000 shares the clique or Its lndvidua!
members did not succeed In marketing over 2oooo.
The attempted squeeze OF the cash stock OF the coal
companies not n great success to-day. Delaware
Iackawanna and Western called in by the promi-
piled at isaIss per cent by others So much OF this
stock has recently sold by prominent holders that
the former manpuatOrs OF the loanng rates found them
selves to-day powerless to accomplish their object
Nevertheless they frightened o sufficient number OF
shorts" into covering 10 hold the price steady AT
7O4a 695s G693i. Jersey Central easily yielded from
27l2 TO 26, closing at 26as The stockholders OF tins
company are reminded of the meeting To BIZ held AT the
coInpany's Office tomorrow Wednesday, at which 1t
may be well for stakeholder Ia ask what Is
the amount of the existing floating debt Including
the company Endorsement of tie debt OF the Lchgh ana
wikesbarre Coal COMPANY, in order 10 know how jar
the proceeds the 900 of debt certifcates-f all
taken al par-w toward relieving the company from
also TO learn further particulars OF the
business OF 1876 than Is youchsaied 10y Gle meager re-
port OF the business OF the parent company alone Un
less the raising Of this 5000 900 VIII carry the com
pany safely through all its troubles. Is not desirable
either for stockholders or the public that The crash
should be delayed. Delaware and Hudson to-day sold
from 81 to 90 closing without recovery Lake SHORE
after steady opening at 5i5 GJJ, made tine sIs
tainer" and to 5Jls, closing ut pa Central and
Hudson was neglected at 1OlAdl0 g. The 81. Pauls
were lower 1873 for The common AMI 4SoG - % or
the preferred Rock Island steady at lOl and Illinois
Central weak ut 5iI Tie Expresses we're lower to sell.
American at 50 and United States at OIL. The following
table shows the - .
RANGE OF THE MARKET AT THE STOCK EXCHANGE;