New-York tribune., 1878-03-21

with tne movements IN cach OF these STOCKS
the name Of the president of the Central and
Hudson Company-with or without warrant-was
freely mentioned. The annual election for a board
of directors of the Lake Shore Company occurs on
the first Wednesday in May, and therefore the
transfer books should close about the 31st of
March. The Michigan Central election does not
take place until after the middle of June. To what
extent these coming elections may be connected with
the present movements is matter of speculation In
the meantime, in the matter of traffic rates. at q
meeting held in Chicago on Monday last instead of
an advance in the actual rates to the basis of 80
cents, as by the agreement of the NewYork meeting
the schedule rates were reduced to 20 cents.
Central and Hudson to-day dull, with
all the sales (5OO at JOG, and Erie sold
1900 at 10S01O4. st. Paul common was
active and firm at 400404Q40l2, and the
preferred stock was higher at 72ls to 1888. The
trading in the Northwest shares reflects less active
speculation although the common, to-day. rose from
407s TO 413i0416s, and the preferred from 6Ssi to
697s069si. Rock Island was favorably influenced
by report that the Iowa Legislature had repealed
the granger laws, and the price Of the stock adj
vanced from 1O1la to 1O2a01O2l2 but Chicago
Burlington and Quincy remained quoted at 1O1 bid
and offered at 101l4. The dealings in theTemander
of the railway shares were small and unimportant.
The coal stocks strong for the two Della
wares, on the announcement that at the meeting of
the Board of Contror held here to- day.the schedule
price for coal advanced 25 cents per ton for all
sizes but stove, and that was advanced Is cents.
But 1t was not known on the Exchange that the
output for April was limited to 1,125,00O tons,
against an output for April, 1877, of ,712 600
tons. In consequence of this last order, the Della
ware, Lackawanna and Western Company has
withdrawn its circular offering 10000 tons
at, auction on next "Wednesday, and will
sell only 10000 tons. To the tinanciers
of the companies, which are operating railroads re-
curing large tonnage movement IN order to earn
first charges the reduction of 81 per cent in the out
pn is of much greater Importance than Is the noml-
nal advance OF 25 cents per ton in the price This
allowance for April will make the total output for
the first four months of the year about 1900 900
tons, at the rate of 13500,000 tons for the
900 tons for the year 1877. If this action
Of the Board of Control does not show
supply of coal. and an attempt " to regulate its
price, we beg TO be Informed what it does show.
Delaware, LackaWanna and Western opened at
40, rose TO 49ai fell 10 1875 and finally sold at
80. Delaware and Hudson started at 40, fell to
4S3i, and was steady at about 40 until Just k'iore
the close. when it quickly advanced to 1913. The
latest rise in each stock occurred on tho announce
ment of the advance price of coal before referred
TO-. Morris and Essex sold AZ 7i2a7267ll2, y,
Last night we inadvertently wrote that under the
reconstruction scheme for the Central of New
Jersey Railroad the stockholder would receive two
income bOnGs for II 600 paid in cash and ten
shares of stock surrendered. We should have
written that for the 81 900 paid in cash he is TO
receive 81 900 mortgage lblanket bond and for
tine ten shares of stock 81 900 income bond. We
are informed that the holders OF about S3500,OO0
stock and the holders of about the amount of
consolidated bonds have assented TO the scheme.
Western Union to-day was inactive, selling at
SOlsd sole, and ex-diyidcnd at 1854 7Sasa7s3i
Atlantic and Pacific Telegraph. without sales, was
quoted at 19Q10l2 Tomorrow Thursday is set
down for the commencement of the legal contest
over the contract between these two companies
And as il is Anticipated that the Western
Union, as a defendant, will not show much
fight, but will leave the brunt of the
battle to the Atlantic and Pacific Company. a
lively time III the stocks OF the two companies -
expected. Pacific Mail rose to 19l2 again. but
closed weak at 1Sl2. We hear rum0rs that at the
monthly meeting OF its Board OF Directors, to-day.
there much disappointment expressed that no
report of the cOmpany's affairs TO a late date
could be obtained
A description of t0-days stock market would be
incomplete without the statement that al DAD
o'clock the market was duil and its tone heavy. but
at the close fifteen minutes later the Board seemed
wild with excitement, and prices bad rapidly adj
vanccd from as 10 per cent, Delaware and Hudson
making the per cent Tse
MARKEI.