New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-05-08

and Western did make "spurtn TO 54sa
but it quickly yielded to 53le and then
after fuctuatIng within q range of q per cent.
finally closed at 53bs. Delaware and Hudson
opened at So and fell TO 1913, at which price IL
ended and Morris and Essex declined from 79Aa
1875 to 20. Central of New-Jersey opened at IA.
rose to 1884, and fell to Is without Intermediates
sales. Reconstruction is the ralying cry in the last
named stock, and for the moment operators are for.
getful of the results of the Wabash experiment in
reconstructiDg the basis of the old or Of an in.
creased indebtedness
Lake Shore started out briskly at 622i bid and
sales but yielded to 62ss. and closed at 62os Mich.
igan Central declined from II TO 697s970 Erie
was lightly touched at 117s012G117s. and New.
York Central at 106l29 1908. Wabash opened al
143i and fell to 14ls, closing at l4l4 The truth
concerning the actual financial condition Of this
property is slowly but surely breaking upon the
understanding of its bond and stock holders. And
is seen that whatever may be the result Of pos
sble settlement of the present suit againt it,
a reconstruction is inevitable. Chicago, Burlington
and Quincy stock for several days has been fed to
the market in such quantities as it would take with
out break, until its price has declined to 1917,
and it was offered at that at the close II Is now
said that the sales are made for Boston accounts,
for reasons which as yet are unexplained. There
has been a change recently in the executive man.
agement of the company, Robert Harris having re-
signed the office Of president, and John NJ. Forbes
of Boston, having been elected in his stead. Mr.,
Harris resumes his old position of chiefeng Of
the company; but this change is not sufficient to
account for the steady and continued sales of the
stock, which nov begin to attract attention.
Chicago and Alton fell to ~, bnt Rock Island was
steady at 1051o0 1858 St. Paul common stock
was about the iirmest of the whole list. 1t opened
at 81 b and rose to $685. later selling ut 5034G507s
The preferred sold at 75D74oS. Northwest COM
mon fell from 5214 to 507s051, and the preferred
from 1878 to 713i. 1t is stated that one party has
recorded at the closing of the books the voting pow
er OH 81 100000 out of $40,000,000 of North
west stocks and il is supposed that the remainder
necessary to carry the election for directors of the
company is secured by the same party in names
which cannot be traced. The sales of stock by the
party assumed to be defeated considered to be
the cause of to-day's heavness of the Northwest
stocks But if all that the oats have said in reia-
ton to the value of the stocks is true no rea
son in their defeat for haste in selling their stock
The transactions in Western Union were light
but it's price yielded from S114 to SOl2GS0A and
Pacific Mail declined from 81, the price Of yester-
day. TO 1875 later raying to 19l2. 10 was reported
that two drafts drawn upon the company, amount
ing to about 500, 900, were protested for non-pay-
ment and the report turns out TO be true; but the
officers Of the company claim that the drafts were
unauthorized and for disputed claim. The market
closed feverish and weak.
RANGE OF THE STOCK MARKET.