New-York tribune., 1878-04-13

shows that the total transactions in stocks are only
729 551 shares against 1028 663 for the preceding
week. Excepting rise of per cent in the price OF
Northwest common stock, and 2i2 per cent each in
Michigan Central and Burlington, Cedar Rapids and
Northern the greatest advance shown by the clos
ing prices of to-day those of one week ago is
81 per cent, while the declines IN 10 stocks range
from ls to gig per cent, the greatest being in the
stock of Albany and Susquehanna. Only
three stocks-Lake Shore, Northwest COM
mon and st. Paul commOn-have recorded transac-
tions exceeding 100, 900 sharesea The remainder
of the list ranged from 81 800 shares of Delaware,
Lackawanna and Western (half stock down to 70
shares of Harlem. Hence it may be observed that
the Northwest common stock has been tho central
figure of speculative interest The influence OF this
stock upon the general market has been very great.
If il is weak, the whole market is weak; II IL Is
strong general rally follows. In addition to the
improvement of the business of the Northwest Com
pany due to the large crop of 1S77 it is now urged;
reason for the special activity IN the stock and
further advance in its price. that there Is To De
fierce contest for the election of six directors tout OF
eighteen i'll june next. But If this true, the dul-
of the preferred stock is an anomaly The pre-
ferr stock after selling down to II and mp to rs,
closes the week at 1898, against 725s a week ago.
st. Paul common, after fuctuatIng 2si
per cent. shows gain of 50 per cent, while
the preferred stock, having fuctuated 1ls per
cent, closes at a deccline of % per cent.
Wabash has ranged from 2Ols 70 1880
49, Hannibal and st. Joseph common ut ii l2d Ia,
and preferred mt 2Gl2G25l liU2Gai; Chicago, Bur
lington and Quincy at 1889 lO2is Chicago and
Alton at 73l2d72073A; Chicago ana Rock Island
at 1O27Sa 1O1lg0102l2, and Union Pacific at OSi50
67lfa67l2.
Ohio and Mississippi rose from 03s to Ills on re-
port that the company to be reconstructed with
out an assessment of the stock but it later sold at
103s. There is to be meeting of the reconstruc-
tiOn committee this evening, at which is expected
plan will be adopted which VIII be gwen TO tho
public Tomorrow. The main features or the scheme
under consideration are as follows NO assessment
of the stock the holders OF the second mortgage
bonds to be ask ked to fund four coupons; ana tne
holders of the 81, 900 900 Springfield mortgages to
be asked surrender 80 per cent OF Their bonds the
company to surrender and destroy Ike proper
tiOn of the S1,0OO,OOO held by 1t, but now
hypothccated to secure its floating debt.
The statement to he issued will show that the re-
ceiver has reduced the floating debt from the earn
ings of the company about T0OO.oOO, but the past
due coupons, amounting to more than that sum,
make the real floating debt lnOw Sl,5OO,OOOl
greater than when the receiver t0ook the road. We
are able to state that She proposition to the Spring
field bondhOlders has been positively rejected. Ii IS
urged by them that they either own the road, when
cost ~ O0O, 900 to build or the face OF tho bonds
that the Issue of the extra ~ 100000 of bonds re-
tanned by the Ohio and Mississippi Company was
made under an express agreement that the ONO ana
Mississippi Company should complete the road 10
the OHIO River, but that instead OF dongs0 the COM
pany has used them TO secure iloatmg debt OF the
Ohio and Mississippi Company, which was concealed
from them at the time of the sale of the Springfield
Road. They also urge that the scheme pro-
posed is entirely in the interest of the
holders of the floating debt; that time is
asked of them and of the second mort
gage bondholdcrs, supposed To be sufficient for
the payment of the floating debt out of earnings.
and that when the next coupon natures, there Will
be another default. Further, il is not proposed
10 take the property out of the receivers hands for
eighteen months, or until the floating debt is all
paid With these obstacles in theway Of rcOrgan-
zaton there seems to be little prospect of its sue
cesslul issue.
The coal properties during the week have been
rather dull Yet fiuctuating The closing prices to-
day are not materially changed from those of aweek
ago IL is now learned that the Delaware. Lacka-
wanna and Western Company has succeeded IN DIS
posing Of about ~ 300 900 of Its new bonds at par
and interest, and il is stated that the Delaware
and Hudson Company has sold more or
less of ITS New bonds at 30 cents. These
facts explain, what heretofore has been
mystery 10 many people, how these companies have
been able tomeot oiTmatuTing liabilities. Western
Union has been alternately strong and weak touch
ING the figures Of s2os and 81, and closing at S2ls,
or /, lower than week ago. Pacific Mail declined
from 2O8t to l77s hut closed at 1873. In express
stocks fair amount of business was done al i'm
proving prices for Adams, American and Wells,
Fargo y Co. - -, ,.