The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-12-22
FINANCIAL and COMMERCIAL.
The Stock Market Dull. but
Strong.
GOLD 1O2 Sd A 1O2 So.
Government Bonds Firm, States Dull and
Railroads Quiet.
Money on Call Easy at g q
GOLD lO2 81 A 1O2 So.
Money on Call Easy at g a 2
Per Cent.
WALL STREET,


FRIDAY. Dec 2l-6P. M
For some time past tho speculation IN Lake Shore
has been pretty nearly the only element which has
saved the stock market from sinking away into abso
Lutte stagnation. IL is not certain that IL would have
been eectual oven to this had the question
OF q dividend been rccogn zed text upon which
both bulls and bears wore permitted to discourse "a
thor hearts, content and in this way keep expecta
ton vibrating between doubts and fears. The matter
wus, however settled to-day, tho verdict 80 l9rg
waited for finally announced and tho chief spur 20
activity hacked of the heel Of speculation. Plainly,
the Lake Shore directors met this morning and do.
clared las wo intimatcd they would dog dividend Of
Two per cent out Of the earnings Of tue past twelve
mon,ns. Accompanying andsexpIanatory OF the divi-
dcnd, we receive through Kiernan's agency the fol.
lowing statement OF tho companys business for The
current year.
GRAND CENTRAL DEPOT. Dec. 81, 1877.
Tho Lake Shore and Michigan southern her statenans
shows. tho gross earnings. SID 532.93o; expenses,
G6 6U-l00 per cent or 30. 023, 955; net earnings,
s45os 1884, Interest, leases, &c. s2.742. 900. Bal
auce equals 57-l00 per cent on STOCK, Sl760,yS4
Appiiel follows: -Asht abua ACCIDENT, SAW, 94O;
sinking fund uS7T, $3.50 900; dividend OF two per
cent, February !. 1875, ST. 1888 27O; surplus $3371
Tho exhibit Will TAIL 10 create satisfactory thrill,
in The minds OF such holders as obtained their
shares below so while 10 believers and buyers at u
the will be the Of pleasant II is the
old story over again OF great cry and little wool"
Tho earnings stouty represented at ono time TO be
equal TO II dwarfed into beggary 3h
por wlron II comes TO u showing Of hands Even
this percentage Is too largo by the fraction, since tho
S250,000 10 account OF sinking fund Is q fixed
and yearly Charge and should properly DO
included IN tho item q icasos and tn
tcrcst. Tho payment OF halt million
toward the Ashtabua accident may be properly
copied as an exceptional charge, but the claim for
drawback TOR loss OF business account OF bad
weather cannot be allow ed Muddy roads afford
plausible excuse to-day, Just as snowdrfts or torrd
heats have doneeorc, who tho fact is that the avcr-
aye atmosphcr icai phenomena, though they differ
strangely VI certain seasons, arc known to strike
very equal average for any twelve months in which
they have occurred. II Is not surprising, however,
that the company should complain Of an undue
supply or water as u disturbance TO their busi-
noss considering how much Of that clement
has already boon soaked up in their capital
stock Except that Ohios weaker from the
uc that certain parties had sold out their
long stock and that OF tho list held Its own
inter a firm but iistless sort or fashion. there
nothing Of motto to be mentioned tho days proceeds
ings
PRICES.
Tho opening pricos to-day as follows: West.
ern Union, T5sx; Lake Shore, Coz; Now York Cen
trail lO5h; Rock Island, 991; Michigan Ccntrais
66x: Delaware, Lackawanna and Western. 49,s;
Delaware and Hudson, SIX; Erie. S%; Ohios, sh;
c. c., Z. and l., 34A; Pacific Mail 2l1s; Northwest
orn. SAX; do. preferred, 62,4; ST. Paul. IS; do.
preferred, II; Kansas and Texas, *; Hannibal and
Wayne 81
QUOTATIONS.