New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-07-04
eAIIe IRON % OCIOCK ~ CIO5t OF BUSINESS .
TUESDAY. July 3-P. NJ

Tho business on The stock Exchange to-day. while
restricted ion volume presented firm tone, for
reasons apparent 90 the most casual observer The
day breeding holiday is never happy day for the
selling hv cinues hence per force their stocks were
NOT .rcd of 40 least, not pushed Tor sale Al TIE
same time there very general liquidation "i
the speculation for the short accounts partly by per
SON. " ho are closing up order to take then Sum
mcr ya,aton aud bv others because prices appeared
a. hc so strong The result OF All Tins Il quite
likely to De- seen iu continued small transactions ana
q dropping of prices, with a resumption OF bust
nos. after Independence Day. Certain IT Is
thai the outlook for the coming six months pre-
SCENTS uo feature favorable for successful bull'
campaign iu stocks. and If any Is attempted IL must
meet the same end that has overtiken all s prcdc-
c,...,r- since the panic e 1873. Pluck and capital
can advance prices. bat thc public, approaching the
p,.tiou Of ala r., viii not become buyers during
t fr half Of this year there has been less OF cut
ting of rate. between the railroads than for any
equal rer.d for the past two years Vet the forth
eo,iiIa statement # the Lake Shore Railroad VIII
Show les than "a Of per cent. earned IN the time
and This without taking INTO account the
loss incurred from the Ashtabula accident
suppose !, declares and pays dividend oi
60 of per cent for six months, what new
bu,.r wants its stock at 4Sl2 or 3Si2f
Z d
p.iiiuu thau ever before. on a restricted buik 81
m.fcllId ..r to be- moved. and Notwithstanding the
agreement to apportion the West-bound business
FROM NcU-York alouc between it, The Ene. Penn
syyania and Baltimore aud Ohio Company. the
con pact permits ihe old discrimination m favor OF
business from Philadelphia and Baltimore to al
Western points. The desperate position 81 the uii-
roads Is illustrated by The compact itself Central
Hudson, with its four tracks from Albany Ia Rochcs-
to- consents TO Erics portion of the business from
Ne"-l"ik being equal TO ITS Own. 10 vii, 33 per
cent Tn, fact. although not appreciated by stock
spectators, s subject Of general conversation be-
tween merchants Going further West. We strike
such roads - Rock Island st. Paul and North
western. Whose earnings arr now suffering and
mnt continue 10 suffer for three months longer.
from "a lack Of busiuess-more than can be rrgalucd
with an abundant CROP 100 a whole year
lc coal shares. moi Wlthsiaudlug hc recent sharp
advance present no attractions 10 outsider: the
Official advice 10 hold on or buy more being feeble
now. ~ compared with what 70 was when Tue
TlBrNF was leading bear raid upon them at go
e. 100 per cent. higher prices. Neither u the credit
Of che con panics likely 10 be bctiercd among con-
sryltiVe folk, by an medication OF the idea Tat
Ell Der one If them has mOTteagpd its property TO
secure money wherewith TO speculate on the STOCK
Exchange.
Yet the stock Market to-day has been unusually firm
and prccs except for the coal shares generally show
q fractional advance over those Of last night. IL
l. worthy If non that the price Of Wabash to-day
342G44J7S-.ncludes the assessment Of " per