New-York tribune., 1877-08-18

Fiday. Aug. 17-P. ".

On The Stock Exchange to-day the bulls con-
tinued to push eradyantagc and further advanced
prices with rush. There was no hesitation about
II. It was well and boldly done. u was observed
that some operators, WHO at five aud six per ceat
lower prices were timid traders m one or two hun
dred shares, to-day. lad the cJurage 70 increase
their lines to the thousands. In the face of
such wild exultation. facts and figures must
for the moment retire. lt matters not that
all know that the Central and Hudson, Lake
shore and Michigan Central Railways are suffering
Tor the want Of employment Tor their equipments;
that they this have lost large portion OF q
busness--the carrying Of proyisi0Hs-which before
had been done exclusively by tine railways, aud that
IN actually smaller total movement of grain than
that Of last season, the lakes aud canals show IN
increase. IL matters not that the Delaware
and Hudson, aud Delaware, Lackawanna aud
Western Companies have not mincc ton of
coal for four weeks, while all the expenses,
saye for the mining of cOa interests royalties and
rentals have been Gccumullting AGAINST them in tho
same way as if their business was going rs usual;
that both Companies have floating debts which in
stead of paying il is proposed 10 fund by additional
mortgages their properties made sufficiently large
to provide the ways and means for fnrther" " brdg-
ing over in case of necessity" and that II u known
that these Companies created a good portion
breaking up of the coal combination and
with coal nearly - per ton. All these facts
and numerous Others. equally Wen known, Of no
CONSEQUENCE ~ the men engaged IA the present
speculation. They have boastod OF ,helr power to
put prices mp, and have succeeded. But when the
time arrives thai reason rcsumes = sway. some pco-
pie will be left with stocks on hand which they viii
wish had never been bought. IL VIII BE wei tor the
country il such cases are confined TO the profess
sional operators Of the Stock Exchange
transactions
DAB. 600 shares Lake Shore led the van with 1880
shares openingat j6i2 II for moment sold at 5Gli,
and then steadily advanced to % passing the last
figure it rapidly Ia Js3f and then after large
trading declined 70 81, closing az 57is. Michigan
Central was fairly active rising from J3, the OPEN
ing price, to Ji7s but later selling at - laa 52Ss.
Central and Hudson rapidly advanced from 36.s@
9Gsi n 9Gl2 but finally closed at 97ls. Even Erie
became excited and rose from 3's 10 10 with trans
The Western list was not behind-hand, and closely
followed the fortunes of the stocks Of Eastern ia;l-
ways. Rock Island sold at 97l2d99a9s: North
west at . p, n 2J3i a2jl; Northwest preferred at
j7li ia57a JS i2aj15s; ~. Paui at 26.so 2I4~z';
Alton and Terrc HaUte preferred, which II worth
more than several of the stocks named was ne-
elected aud remained offered at -.
The Coal stocks were crratic. The two Delawares
played seo-saw !: at one moment one the higher.
and al the next moment the other, but finally Della
ware, Lackawanna and Western s,rgcd ahead ana
kept the lead to the end probably because some one
improved the opportunity Afforded 10y TIE " tOi1-
nttec's valuation Of what Is at present an unpro-
dgctiNC property ~ Hiloaf l'riaWdIl and
stock. Delaware, Lackawanna and Western opened
at ~ l2 and after frequent fluctuations sold at 10,
but closed AZ 47aN Delaware and Hudson rose from
iG to i75s and closed at 40 Morris and Essex sold
ut 7I3t 7i2.a 72@i, and Central of New7Jcrsey at
$3.50 l4l2a l4ls. 80.
Western Union made further advance 10 1oIs.
but closed with a tendency to weakness at .s.s.
The impression is growing that the members OF the
conference committee failed To state the exact
facts after the adjournment of The meeting last
Tuesday night. Ii Is reported. and with confi-
dence that IL was then arranged that one member
of the committee, representing the Atlantic ana
Pacific Company, should sell and deliver 10 the
Western Union Company 10000 shares of the At
laftic and Pacific stock, receiving therefor 2oOoo
of the Western Union stock, now owned 10y the Com
pany IL il also stated that the transfer OF tho
stock is 20 carry with II the resignation
of n sufficient number of the present direction Of the
Atlantic and Pacific To give The Western Union the
immediate control "a the opposition company, lts
only Justice 10 the member OF the committee ohaSycd
with this negotiation to say that a. late a. tins alter
noon he gives tie entire stOrY an emphatic deuial
Yet II may be well for the holders Of the other 10000
shares of Atlantic and Pacific Ia begin 20 look
after their LEGAL nights IN the matter.
Pacific Mail to-day became active, and sold mp 10
2lI9 hut elosc, at lts opening price, 23. The mar
ket closed feverish aud confused.
RANGE OF THE STOCK MARKET