The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-19
WALL STREET,

THURSDAY. April 1876 7. N.
handsome crop OF profits having grown up in
The 81. Paul common stock under the protection OF a
put" with The fertilization OF extraordinary
ings the Teuto,ic proprietor OF q. 600 shares
thought IL propi.ious weather in which make his
harvest BY the familiar process of selling out
strong market tho profits were secured, but at the
expense Of considerable decline In the share value.
But this was not the end OF the evil There were
other in DINER stocks TO be gathered WE'LL and
speedily, under the pressure of servile imitation.
the whole Board at work plying the Industrious
sickle. The consequence was rush to realize and
lower range OF prices throughout the list AS
property having community Of inter-
ests with ST. Paul the Northwestern stocks
sympaihized most closely. and were followed
in turn by Lake Shore, Michigan Central and Erie.
Thut ga bird the hand is worth two the bush"
Is maxim readily recognized by the average broker
and he not slow 10 approaching and acting upon
the suggestion. even though the ''bushn be repre-
seDted by tie granger stocks and promised profits be
as abundant as birds in an aviary While the day was
characerzed by free reazatons the market absorbed
all SHARES offered tor sale with notable ease aud at
the expense OF comparatively small decline prices.
In fact. out Of tho midst OF the weakness a new
strength was created IN the shape OF increase In
the short interest. the same being made perceptbe
by the better borrowing demand for shares. While
the miscellaneous list, al least inclined 10 halt. the
Ohio and Mississippi speculation rallied somewhat
from yesterdays depression 10 set at rest many
erroneous reports which are circulation in regard
10 this stock, authorized TO state that tho
understanding arrived at by the Com mittee OF Recon-
struction with The principal holders Of the Springfield
bonds was yesterday completed as to details. Tho
result arrived at Is that surrender OF $500 600 in
bonds and coupons is agreed to, conditional the
company also canceing $4,000 OF tho same bonds
held by them. The first coupon will be payable IN
cash May l, 1879. The reduction the mortgage In
debtedness OF the Ohio and Mississippi Railway
effected under this arrangement IS $4,000 COM
bined with the postponemcnt of all interest
on the reduced amount until May !, 1879.
During tho last hour or two the downward current
checked and quotations set toward the food again
sufficiently strong carry back distance
nearor the starting point As has been the custom
for several years the Exchange make tomorrow
GOOD Friday a holiday, although it Is not legally
recognized such Consequently no business will be
transacted in the Board Room upon the street
OPENING PRICES.
The opening prices Of stocks at the Board to-day
we're follows;--New York Central, 1881; Erie,
1917; do. preferred 25x; Lake Shore, 6s3S; Wabash,
1914; Northwestern, 80; do. preferred, 1854; Rock
Island, 1OTh; Milwaukee and ST. Paul, 81 do. pre-
ierred, 74h; P,ttsourp, II; Delaware, LacKawanna
ana Western. 56a1 New Jersey Ccutrai, II: Delaware
ana Hudson Canai. 50; Morris and Essex, 1913; Mchi-
gan Central, 72 Illinois Central 76k; Union PAcinc
IL; Chicago, Burlington and Quincy, 100; Chicago
and Alton, 74X; Hannibal and ST. Joseph l21l; do.
preferred 301s; ohio and Miss ssippi, 10; Western
Union, s2X; Pacific Mai, 20A.
e CLOSING QUOTATIONS.
The closing quotations Of stocks at three p. NJ.