New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-09
THURSDAY, Feb. S-P. N.

THURSDAY, Feb. S-P. NJ.
Il is noticeable feature in the talk of
tho officials OF the coal companies thai they
..c4lo present difficulties and financial embar-
easements 20 the great depression in the cOal
trade" A. the stockholders OF Jersey Central
meeting held yesterday. President Knight dwelt upon
,h subject and pictured the bright funre to he realized
nv an advance OF 81 per ton for coal TO be brought
about by combination, Of which no other
eoal ci1 could he found who dreamed cf such thing
a. possible Now IL be wen TO remember that when
IN April 1876, TIE TRIBUNE began to show the con
atou Of the respective coal companies the average
price oa 81 but - per ton higher than now
that the combination only ended Late In August,
through the financial necessities OF the re-
ss.etiye companies when the time had arrived
thst each company forced TO look out for the
interest OF number one so when officials talk about the
effect ofa depression they should give report OF
business since sept l. instead OF for the whole year
l.76 The coal companies were fast going to the oan
with coal az over per ton. Delaware LacAaWaha anu
Western earned the first six months OF 1879 less
than / per cent its steek, although II paid
ort per cent in dividends. Consequently IT
NOW permits supply bills payable Dec. to
r.rnain unpaid for over 60 days after being due.
Nr regarded OF the highly respectable stocks,
ssEas Michigan Central under the same management al
-,9-O The facs Of demonstration that neither
lie Delaware Iackawanna aud Western nor Delaware
AM Hudson. with their immense rental charges. can
I'm dividend upon their stocks with coal at - per ton,
un,,ss the consumption Is nearly doubled. Respect
ability "a Tor holding these securities above Read
t and Jersey Central; without the Intervention OF
.mrace each OF them u 10 fnd the same level
III, stock unarke, to-day presents scarcely feature
~ comment. with the sole exception u Delaware.
I,cawanua and Western the market seemed 10 re-
s-eud 10 natural causes Western Union led IN amount
f ransac-fons selling At rs al AL al al L Lake
snore was next importance selling at $500 52 ana
then duling in natural rally TO 53Ss. finally closed dt
80 Michigan Central. after opening at 40, rallied 10
All and then settled og 10 442 49, Central and HUI
son ~ the rearcuard OF a retreatng army, hed lts
position at lOla GlO1i2 The North-Wesierns be
t.a1eI a feyershness long unknown t. them
=. common apparently being sold at 81 433ls,
W. the dividend security 90 the preferred, dropped
n $50 90 51a Rock Island. however. was steady az
lOllsalOla4 apOn prpbahly untrue report that the
earngs for January. l-77. were cJOpp IN cArt's o.
f.,- January. 1876. Illinois Central was asli'r'
r.u. from 3Ils 70 50. and closing firm. st FaGl PIE
sr, tltd IT. hand AT being strong IN the cary tfAlS
sud ros. from ass Asa, but later sold NJ - is9
largely bought al 90 ny one Drokel' "h'h 'riklt
sr. prouiiscuoUs shO T. INTO buying up p. hish as
t'a0. but the last price was 19- hucn VIZ
i.iguIccd Is 70 what account The Large purchases
We made for: but view ot the faci 'Hat
g. was firmly held at 90 against Inc depi's-
ION which ruled AN around 20, rs would -etu
y hrh bought Western Union al -. At al events M
- the purchases 20 cover SNORT acc"uLiH III
eat bought viii pe for sale, Decase me pu,c are
nj uuT investing In coal stocks. II sympathy WIN
delaware. Iackawauna and western Dtia Ea4C ana $50
sr rosr from 57l2 10 80, closing at J-l4 Cctrai oi
NevJer-y opened Heavy az p y. sold al - ana tn
-. q. pa. aftsr which 10 Gagged of 10 IL
unarr sales Tor Philadelphia account EIir
w. hr.vy, declining TO -, closing at So ENprts
wnro quiet, without natcil. cDaDsfe- A"c iOi
lowing table SHOWS
GASal o. rnE MARkET AT TIE STOCK EXCHANGE.