New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-03-28
SECOND BOARD-1 p. M.-Continued.
THIRD BOARD-2:30 p. NJ.
"WEDNESDAY. March PIP. n.

wEDxEsDAY March 27-PM
correspondent suggests that the reason why the
trunk line railways 50 tamey submit TO the orders
| of Mr.. Commissioner Fink may be that they see
| no other way of avoiding an open warfare, which
the finances OF the respective companies will not
now permit This idea may be cOnsoling one to
| a "bearD in a strong stock market. But
| the great majority Of those interested
in the transportation question are neither
| bears" nor "bullsD in stocks They care
not whether the prices of stocks are up or
down. But they do want to be bulls" in legiti-
mate trade. With them. combinations and appor-
tionment schemes are impractlcabe. Competition
is the order of the day. and talent and enterprise
must win the race Hence they see reason why
corporations. to which granted certain special
privileges-among which is the limited liability of
the stockholders or proprietors-should be ex-
empt from the laws which govern all
other branches Of commerce. Nevertheless, the
apportionment scheme is spreading, having already
showed its head at Chicago, when at the meeting
held yesterday it was proposed-but it has not yet
been accomplished-to apporton all the freight
moving eastward from st. Louis, Chicago, Indian
apolis and Cincinnati. The season selected to ex-
tend this system without attracting general notice
is favorable, because ii just before the opening of
navigation, and experience has shown that the
merchants Of New-York easily forget the hard
ships of the Winter with the arrival of the
season of water communication. Chicago adj
vices report that vessels loading there for
Buffalo at 90 cents per bushel for corn. The
opening rate in 1877 was cents from which there
was decline to rs cents in July, advance to 52
cents in October. and the season closed at cents.
The average rate for the whole season of 1877
was $1,000 cents on corn, and 372loo cents
wheat.
In the stock market to-day there not q single
cloud to obscure the bright sky of rising prices.
Tho opening was made with dash and confidence.
The reactions which followed were unimportant,
and the closing prices buoyant. 1t is possible
that some additional briskness was impaired to the
final trading, by a rumor (unauthenticated) that
conSos in London had declined from Il to u per
cent after the official closing at 95ls at 4:30 D. III.
Lake Shore again took its old place as 10 amount
of transactions standing No. I, at prices ranging
from G4asG61 to 647s. Michigan Central was, of
course less active but advanced from G4s to 65ss.
Central and Hudson sold 500 at 1O6 and Erie at
1Oosa11 Cleveland and Pittsburg sold at 73a73l2
against 7Ol yesterday the adoption of the funding
scheme by the Pennsylvania Railroad stockholders.
OF the Western stocks the Northwesterns continue TO
be the favorites although not quite maintained at
the best prices of the day. The common sold at
44asG451 445sQ45. and the preferred at lisa
7OleG 70l2071. We are informed that the North
west Company has provided for the payment of the
81, 900 900 of La Crosse, Trempeleau and Prescott
10 per cent bonds due April l. by the exchange and
sale of like amount of z per cent gold CONSOLE
dated bonds St Paul common rose 20 49, and the
preferred to 72l The higher priced Western stocks
were dull but firm. Wabash rose 10 1870 Z ON
the favorable show of earnings for the third week in
March, and Ohio and Mississippi was active at SIS
QS7s.
The coal shares were not particularly active, but
they were Aigher the prices realized for the
small quantity of coal sold at auction today These
prices although better than those al the sale 1i last
rates And coal men say that prices at the sale were
"bolstered.~ Delaware. Lackawanna and Western
sold at 52l4 1925 "a 2& Delaware and Hudson at
5Ii2G52; Morris and Essex at 75ssa75i2, and
Central of New-Jersey at Il. The telegraph
stocks were dull WeserA Union selling at 79d 1898
lI79ia, and Atlantic aud Pacific being quoted at
ISL bid and 1914 asked Pacific Mail, after land
ing all the "shorts" yesterday, las quietly at
anchor, swinging between the figures OF le14 and
1875.
RANGE STOCK MARKEr.