The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-16

GOLD 100 IA A 100 s-s.
WALL STREET,

MONDAY, April l5-6 Pm
II would have given little trouble 10 one skilled IN
heraldic lore suggested an appropriate device
for The Stock Exchange escutchson to-day. Duh
rampant with the most liberal allowance OF horns
and ta-both carried high a. an evidence Of visor-
would alone nll The conditions required BY the
Market SO lar ~ the chosce-ot fitting emblem was
concerned. AT the very start a rush made Tor
stocks by the entire herd Of bulls and prices were
tossed up as though tho certificates Of shares had
boon printed crimson paper. The whole list re-
reved attention In greater or less degree; but II
was particularly paid to the grangersy Lake Shore,
Western Union and Delaware and LAcgawsnDa, which
responded the civiIity by rise OF from
10 per cent. The Northwestern contest
for control OF election continues as vigorous
! as ever, and the very open buying for both
or the conIesting parties evidence that the mask
has been thrown OF. and that the contest Will DO
carried on with buttoness fola Apart however,
from any question OF control there are many buyers
VINO deem the STOCK cheap even ct the enhanced
figures in view the profitable business being done
and tho anticipation shat the company will shortly
pay dividends Of 2x per cent upon both kinds OF
stocks. For the same reasons further advance Is
recorded IN the ST. Paul shares beng authoritativey
stated that dividend upon tho preferred stock Is
already in hand and upon tho common sort being
rapidly earned There fractional rise In Ohios
DuSiuoSS,
the Recoustructon Committee shall have published
,helr report The report vii be issued TO morrow,
and we are enabled 20 give OF it, salient features
from proof sheets. The floating debt, which was
sL4ol 738 II on the nth Novembs-, 1876, wus re-
duesd 10 $685. 4o9 u on the 30tn March, 1875 There
are owing besides overdue coupon on nrss mort
gage bonds three second mortgage and one on the
Springfield bonds besides Of interest on the
dspsnture bonds making $ls79 900 II in deiauis for
floating debt and nxed charges. These facts are
already pretty we'll known; tho province OF the CON-
misteo devise plan By whien this debt could
be quidaisd and the credit Of the company restored
and IN iurtherance these objects they make some
valuable suggestions. The idea Of an assessment 10
definitely set aside a. being At unwse and I'm
practicable and the plan IL narrowed down TO simply
asking Tor an extension OF time which, II granted,
WILL IN the opinion OF the committee as based upon
present and prospective earnings, be sufficient to
Dmooth away all d1ncuitics. They recommend that
the back interest the arst mortgage DO paid -
soon a. the floating debt is arranged; that
four coupons OF the second mortgages be funded
into year bond, and that coupons OF the spring
neld DIVISION bonds up November !, 1878. DO ex-
changed Tor bonds OF issue, to draw interest
from the latter data II scheme be carried out
vii, be seen that with exception OF the nrst mort
gage coupon there will DO no demands upon the CON-
pany Tor interest until April !, 1879. The net earn
ings Of the road as estimated BY Mr.. King, the re-
ceiver tor the next nine months, arc placed NJ
S7e0 900, which will amply provide Tor the floating
debt. The recommendations OF the committee are
emincnty practicable. and would seem that the for
bearance OF creditors . short time and contnu-
snce Of the present of business are all that arc
REQUISITE to resstablish the company. Tho strength
OF the market continu cd In remarkable manner the
day through and the closing prices were Out shade
nm OF no
OPENING PRICES.
The opening prices OF stocks At the Board to-day
were an ioilows:-wcssern Union, e2k; Lake Shore,
SIX; Michigan Central TIA; Rock Island, lo4; New
YORK Central, l07; Delaware, Lackswsnna and West
ern, 55A; Delaware and HUDSON Canal, 6S,s; Norris
ana Essex. 7sx; 81 Paul. lsK; do. preferred. TAX;
Northwestern, So; do preferred. AK Pacific Mall,
10y: ILLINOIS Central 7eh; Erie, IL; Ohio and Mis-
p,ssipp., llx; Wabash, 1919: Hannba and 81 Joseph.
IL; do preferred, II; Quicksilver, Tx; c., C., C. ana
I. 2ok; St. LOUIS and Northern, preferred, 22x;