New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-01

4: 4. P Pa9I 5;s,s,,sd S S5: $85fs $$ss%
The operations in Lake Shore and Erie REQUIRE
more than passing comment, because the dealings
and fluctuations in these stocks for the last few davs
have been unnatural and opposed to all
ieason and because in these operations lies
4 dangerous element For Erie, there is
10 pretence that the road this year is doing
IS we'll in net earnings as it did last year. The
figures already published up to April 80 admit
hat it was not since which time what business it
has done has been done at lower rates
ban ever before It is true that the reconstruction
scheme considered to be practically accomplished.
But we doubt If IL has officer who believes that 1t
will ever make its first full payment OF interest
On its second consolidated bonds Yet It's
stock is being bulled at Isle, and the "pOints"
TO buy it are more plenty than blackberries.
To-day IT opened at 1872 declined to IS, rose to
1884, fell to 1734 and closed strong at 1918. The
lake Shore Company has pald from January /,
1877 to July i, 1873, 3 per cent dividend ON lts
capital stock OutOf the earnings Of eighteen months
business. Despite all the talk of advancing rates,
and the reports from Chicago that rates were
advanced on Monday the fact remains that the
railroads are obtaining freight against the lowest
rates ever offered by the water routes. These
rates will not return to the Lake Shore or
New-YOTk Central new dollar for the old
expended IN the transportation, without taxing
into account the wear and tear OF equipment. And
With the decreased foreign demand for breadstufs,
and the bulk of the wheat crop tor this year lying
IN more Southern belt than usual, tins
condition Is not only certain to con
likely to remain so through the whole of the coming
Winter The fluctuations in the stock to-day were
peculiar. Opening at CPS, u declined 10 6Io3 Dut
vas rapidly put back to 60, which induced some
short covering that carried the price mp to 81 g.
From this there was DECLINE to 6Zls Then came
the manipulation which was 50 brilliantly executed
that il was accomplished by purchase OF lou
shares at G21, 200 at 626s. 100 at 622l, aud 63
bid. The stock rose 20 633i, and then fell TO 6Zls,
dnally closing at 62A. Such operations on such
slnaTket permit of only one explanation, which Is
floating rs
the control of clique, that for the present ~
san make any price which it pleases for the stock
But such position is full of dangers for money
lenders it is for spectators who sell the stock
The following are the comparative prices of the
trunk line shares at the respective dates:
july E 81 1877. Dec 81 is77 tosag
s S:s...ss9 S. a4s;oi rs lSs'' l 81
The coal stocks to-day we're made higher be-
cause the sale Of $4,000 tons Of Delaware, Lacka-
wanna and Western coal brought prices equal to the
sale Of month ago. But coal men do not hesitate
90 say that the prices were sustained by
Persons heavily long of both coal and
socks Delaware. Laokawa1na and Western sod sod
lp 20 58ssQ5Sll, and Central of New-Jersey to 3Sh
9Se the Others being neglected. but firm III price,
WABASH was stiiicned to H. sales and bid we learn
mat the counsel for the company by direction of the
COMPANY has refused TO consent to adiscOntlpuanee
u the Barton suit. In the position IN which the
ssntaappenS to be-hanging between beginning IN
s'o-NH-AOlh Sbale COURT anu an Bldllbou
~ That Court and bill TO remove IL TO the United
States Court-this, by the compary's own
aeslOn, continues the injunction against the
f15meht OF the interest due last May until
ae next term Of the United States Court
W The Southern District of New-York. Per
tdPs THIS action Of the company Is explained
as Of July ~: 1.-The failure Of the
WABASH Railway to meet their June pay-rOlls
<11 iaoGth has caused much comment upon the line
tsss road When IL is considered that the road has
ynciest to provide for itS funded debt the infer
~. aeo ~ mat the prOPerfp "a I'd shape, and must
Sgnnion creditOrsS
Il; Western Union to-day open, ; 92l2 and de-
c.. ~ W. e.n,mg 200 90. lI. Tading was I'M
l'dnt a'l teatUl.l"ss. IH. market closed
~ TIL .... .......
RANGE H. ~1EKET.
S--Actnal saies-= Closing BIDS Shares
an a An, org Hight LOwt Final Bid Asked Sold.
1stc%FFsd%@ :. :. Z ::
SSe&f Is Is IS IS s5ls 95s. l6o
Qtak oS',,SSt A. ,,4h an "a ,,4s 5s0 0
is sss 'a 3 i 81 is s1 u" s sSS
essSsSsI sis sss 55s 55s 1885 Ss1s ig s.. l5l69
ssss;s3ss So 81 s.. sss. 81 ~ s. g. ' iS
S: &c., 8: e. 3. g. &. 81 s$
.i;;; ~ " Il: g; 81 e; e. E.: g.. s ,e.;j