New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-04-19
SECOND BOARD p. M.-Continued.
THIRD BoARD-2:3O z


Tho stock market to-day opened strong, aud made
fractional advance in the early sales. But 1t was
not long before a feyerish and unsettled tone was
developed. which caused a moderate decline i'll
prices. followed by later partial recovery ana
firm ending Yet the closing prices are eeneraIy
lower than those of yesterday, and inul-
cations are not wanting that the marker
is approaching at least a temporary culhl-
Mating pont This result might be reasonably anuc-
mated. even if implicit faith should be placed IN
all the arguments advanced 10y the bulls III JUST
fcation of the great rise in prices already IL Is
we'll 10 remember that all persons having properly
to sell are naturally "buls until they have DIS
mood of II to some one else This illustrated,
to-day. bv the side remark Of heretofore iniiuen-
tiaI holder of stocks: :" am all ont of my St. Paul.
and think ii NAV 90 higher, but when want 1t
again expect TO buy it at 10 or less" That no IN
considerable amount of stocks has thus been DIS
tributed from the large to the small Operators we
think is certain yet it does not necessarily ioIio"
that prices must decline immediately
ST. Paul common stock again led the van III the
amount of transactions, but its price yielded from
51l2 to 499i, rallying again to 5Ol Inc preleiieu
first rose to 75ls, and then declined to 74G74l8
Northwest after selling at 547sa55 fell to 53l2 and
closed at 54ls; and the preferred which declined
from 75la TO 745s, rallied to 75ls Rock Island was
strong at 1O701O76s01O7L; Illinois Central at
76l2076ll, and Chicago, Burlington and Quincy
at 1OG The Hannibal and st. Joseph
stocks were weaker but dull. the common selling
at 12l6125s, and the preferred at 3Ol2GZJi2.
Wabash declined to IS but recovered 10 lS"L ana
Ohio and Mississippi, with sales at 1850 800 TO-
did not properly respond to the renewed assurances
that the reconstruction scheme is all right" We
are reoucstcd TO state that the understanding
arrived at by the committee Of the OHIO and MIS-
sissippi Railway with the principal holders OF the
Springfield bonds was completed yesterday as to de-
tails The result arrived at is that a surrender OF
half a million in bonds and coupons is agreed TO-
conditional on the company's caHccIling half NIL
lion of the same bonds held by it. The first coupon
will be PAYABLE in cash, May !, 1879"
Excepting Enc and Michigan Central, the trunk
line shares were weak all day. And Erie was weak
at first declining from 1875 to ~, but iaerit rallied
to 1925 on Judge Lawrcncc's decision denying
McHen1y's petition TO become party to the exist
ing suits This was accepted As being favorable to
the continuance Of the reconstruction scheme, Oh
which the stock is being ." bulIed." Lake Shore,
with a large business declined from CSl2 TO G7Ss
but closed at G73i and New-lork Central sold
moderately at 1890 OSGlOS4. Michigan Cen
trail. however, was firm at 717sG72l2a72. The
coal stocks were all dull and devoid Of features,
Western Union was steady al s3a - l2a y 49, ana
Pacific Mail heavy at 2O7sa 197sa2Ols.
Tomorrow being Good Friday, the Exchanges
have adjourned over until Saturday
RANGE OF THE STOCK 2IANKEr.