New-York tribune., 1877-01-05

THURSDAY, Jan. 4-P. NJ.


No better evidence could have been given OF the
correctness of THE TRIBUNE's diagnosis Oh the
nresent stock speculation than that furnished iby
the manner in which the market to-day was made TO
respond 70 the announcement of Dir. Vanderbilts
death. Desperate men resort to desperate measures
No one will believe that the public confidence in
Central and Hudson and Lake Shore was
increased by the death of the man who
for years has been supposed to be their
main stay. Yet the prices OF the specaitles
were Immediately and rapidly advanced on the
news becoming known. Central and Hudson had
declined to 1OOIi. and in moment it was 1Ol bid,
and then 1919, finally closing at 1O1ls. Lake
Shore, which had sold from 5G3S down to 5oi2,
quiskly moved mp to 5G3s again, closing at oois'
At the same time the entire list which previously
had been dropping, became active and higher, Mchi-
gan Central advancing from 4Gl2 to 47ai st. Panl
preferred from 527s 10 $3.50 53l2; Illinois Central
from G3Ia to 6i3s, and Delaware, Lackawanna and
Western from 1854 to 76as. The entire movement
was made simultaneously, frightening some bears
into covering and encouraging the smaller bulls
TO hold Oh. The extreme prices, however, were not
maintained at the close. The remainder OF the Inst
was steady and dull.
For the Hannibal a1d ST. Joseph stocks, which
to-day were dull at II for the common and ~ Ioi
the preferred, there at last to be gnmer Oh
sunshine. FIRST, the company have in the hands OF
Boston trustees a little less than 3OOO,0Oo OF lana
notes to secure the payment of less than 100000
outstanding land grant bonds. The trustees also
have on hand 5000 600 in cash collected from notes,
which is more than sufficient 20 pay both principal
and interest to maturity OF the outstanding bonds.
4 friendly suit has been commenced IN the MasSa-
chusetts Supreme Court for discharge OF the trust
Whcn accomplished it places in the hands of the
companv all the laud notes and the re-
mining unso!d lands-about 100000 acres,
valued at 81 100000 Second, there ~ "a
talk of a radical change in the direction.
with Mr. Dillon as President. and direct close con-
nection with the Wabash Railroad cast aud The 81.
Joseph and Denver west, which connects with the
t'nion Pacific ut Hastings. We are Informed iAat
this new route will give tO thc Union Pacihc III
rect eastern outlet free from the restrictions OF the
Iowa pooled rHcS and 50 miles shorter TO It, LOUIS
ard The East. Wth all this accomplished and
uller a comPcicut management, The haini-
bal and ~ Joseph Railroad should he able
f. again take Us Place among the iiIo-
class railroads Of the West. The misccll1uc"us
! ~ yga- irrc.Gar Nes',rn Union b..H, . NlIe
Eiplc. atd iaohc NJ.l lower. TIE h'.i rA-''i -
from I'll, clDsiu- prices Ot ycs; raay AZ -. l'i-
lo,.,: AlyInc.s-t vuiY'l anal Hudson, N'rh'".'
Central Central of Nsr-.J 'y, ana Western .,Ih.
each =: Haci Island. -. F3i preferred. j!d "a-
bash. ca.h y: Chicago. Darlington and Sao''N'
Chicago uud Altos. ilJun Iil aHa -. Joseph, A"r'-
ic,, and United -.atc, ,zriy,s. c9rI 2; De-: "&.c
and iluHssl aad N''E.- a"" l-&, e''h -; i,'tH'!'
Central =, and N.--iors '.d N"w-!lav"a a',I tia-
anna. c:.ch = p.r cont. D'cii3cs--Cu.o aui M',a'a-
sipij and -. TaHI, ,ach Is: D-i4Naf". i"r' ah''
a.I Wrs.erl Eri., Lax ,l,ia, N0rt-l'rt., la:lH.
Naii and a ans, each > p,t cc't. INC i'HV"l"s