New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-01-25
WEDNESDAY, Jan. 2I-pw

II. ".
Again to-day the stock speculation exhibited he'd
tation and want of confidence, not so much became
Of the small decline in prices which occurred AZ b,t
it was in spite of the apparent efforts to mark them
up. Concerning the large purchases Of Western
Union at 77i207S, which were made on Monday
there are several conflicting reports IN circulation
but it has now To be accepted that they yers
not made for short" account, The most proh-
able story is to the effect that the purchases wen.
made for new pool. California member Of which
improved the opportunity to dispose of about 2OO 600
shares OF his individual stock that about 900 IA
$4,000 other shares were obtained from the boxs.
of investors, and the remainder from the othe,
members of the pool, and that three Of the
members were nnch disguised at tia
stock having been bought without advancing
the price to 80 or higher. We print the story
simply as part of the gossip Of the street, without
youchng for its correctness But il it is snbstan.
tally true, it Is not unlikely that the longtime
holders of Lake Shore paying the Californian off
liz his own coin by selling him to-day this stock in
such quantities as he wished to buy il. The open.
ing price was 573s, but after few transactions al
SILL the demand became urgent that il r,se to
573,, holding firm at 57l2 for some time, and then
declining to and closing at 567s, after transactioas
acpregating $4,000 shares. Michigan Central was
both easier in the loan market an 10 bug. selling at
494450G i9049ls Central and Hudson easily
yielded from 104le to 1881 on unimpOrtant trans
actions; Erie fell away from 1880 lob to 93.
The st. Pauls were again weak and sold at 1s7s to
1919 for the common and 40 to 4Sls for the pre-
ferred Ii looks now as if the estimate made in TH2
TRIBUNE three weeks since of loss Of about
81 100000 to this company in the first six
months earnings was too s.naH, it having been up
ward of 900 for the past three weeks. The
NOrth-W West also were less sought FOR, 100 shares
of common selling at 1865, and 400 preferred at
5Sls to J75s. Rock Island, after being lO2l4 bid
and mo stock" sold at 10f ld l0l's Illinois Cen
trail sold at 57l2G j7l Union Pacific recorded tran
sac,iOns of 600 shares but at lower prices ranging
from 81 - down to G37s. The coal stocks all
weak but feverlsh. After early decline there
a rally when 10 was known that the prices rear
lied N by the Pennsylvania Company for its coal
were about the same as those for December; but
later. when the decline on Delaware, Lackawanna
and Westerns sale reported, there was another
drop from which there partial recovery. There
is no doubt but all Of these companies are now run
ming and must at least for the next six months ran
far behind their interest and rental payments also
that two of them are now III financial
"extremis;" yet tie holders OF the stocks are
so infatuated with past dividends and hopes for the
future, tina, it requires but moderate short inter.
est in the market to sustain their prices: Today
Delaware, Lackawanna and Western sold at 1i49
1880 ~ la 1913. 1919; Delaware and Hudson at
693ia GS3s and Central of New-Jersey at 353i 1880
33l2. liz Philadelphia, Reading sold at lbs and
then rallied TO 1874. Western Union was feature
less with transactions at 767s077 lSN 1914 PaelIc
Mail made a trial trip to 2J5s and returned TO 2Jt
without an accident. Tho transactions III expresses
were unmpOrtaut but at lower prices except ior
Adams, which was steady. The following tabs
shows the
RANGE OF THE MARKET At THE STOCK EXCHANGE;