New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-12-14

FRIDAY. Dec. 1877. NJ.
week of frequent and sometimes rapid fluctua-
tions in prices, results as follows: Transae-
tOns amounting TO $4,000 shares, against
100000 shares for the preceding week,
and a decline in prices for the special favorites
ranging from 30 to 4l2 per cent. The exceptional
advances were Ohio and Mississippi, and Burling-
ton, Cedar Rapids and Northern. each IL Hannibal
and ST. Joseph, a c., c., c. and l., l2 Illinois Cen
traI, 81: Central of New Jersey, 1; Chicago and
Alton, ias; Delaware and Hudson, gig; Ohio and
Mississippi preferred, 2l2; and Hannibal ana ST.
Joseph preferred, 3 per cent.
The events of the week that were well calculated
TO seriously affect prices at the Stock Exchange were
important but those best adapted to secure this re-
suit had no apprecable influence upon prices. The
pI oducton of the proof that general cutting OF
freight rates not only preceded the recent harmon
Ous meeting of trunk line presidents. hut wasinten
sliied by it, was followed by advance III the prices
of the trunk railroad shares, which, however, was
not sustained The final decline i'll prices for the
week was lie than q per cent from The prices OF
last Friday. The virtual abandonment of
attempts at a coal combination for 1879 was
followed by sharp decline in all the coal
stocks; but that was followed by reae-
ton which leaves Central of New-Jersey and
Delaware and Hudson higher than thew were
week ago. and Delaware, Lackawanna and Western
only 134 and Morris and Essex only g per cent
lower.
The most important railroad event of the
week was the proposition of the Chicago, Bur
lrngton and Quincy Railroad Company to
increase its capital stock 10 per cent hV the Issue of
80 764 600 of stock 10 the shareholders at par III
cash. Unofficialy we are informed that this stock
is to be issued for the following purposes, the ng
urcs for the new road and for the ears being
our own estimates, which certainly are liberal:
9na nrw tr"cbt ears $500 ........ 100000
New road of % miles at $4,000 6O"ooo
Total 81 800 900
This call for So, 700, 600 cash by the Chicago
Burlington and Quincy Company reduced the price
of its stock from 1O3s to 1O5I2d 1864. 1t should
disturb, also, confidence IN all railroad reports ne
c0mpany's report for 1S77 showed surplus earnings,
after the payment of cent dl vldends, OF TbSl
OBJ and the report stated that the cost of laying
steel rails during the year has been charged topper
ating expenses" The report for 1877 also sad there
was charged to construction $9IS, $50. For 1873
the companys monthly statements of gross operat-
ing expenses for nine months 10 September 80 have
been published. These statements have shown
that the net earnings for the nine months
we're S47OO647, against $1,O56,7OG for the
corresponding time in 1S79-an increase this
year of $643,941 in its net earnings.
This would make a surplus OF 1889, 1S5 for the nine
months of this yearafter the payment of all proper
tiOnate charges and eciOurths OF per cent dlyi-
dend the stock Yet the face Of thesc reports the
COMPANY now needs 200, GOO for steel rails and
other purposes. In tins connection II must not be
forgotten that il only about one year since the
c.. Is. and O. Company sold S2,5O0OOO OF ITS per
cent bonds.
Western Union has declined Dig per cent during
the week. despite the declaration of quarterly
dividend OF ! l. per cent and the publication of
earnings. Pacific Mail was affected by rurnorcd
atirmatiOnB and contradictions OF Its disagreement
with the Pacific Railroads, and after selling as low
as 12l2. closed at 1919, against l4ll week ago.