Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-03-01

I2I[s. State bonds dull; Tennessee 6s. old.
80; Tennessee 6s, new, 242s Virginia 6s, old
80; Virginia 6s, new, 80; niissouri 6s. I0716
Railroad bonds we're generally weak There
is a renewed demand for Central New Jersey
consolidated and convertible bonds The
stock market was irregular, but in the main
weak early IN the day, and prices declined
l2@25B per cent, the latter Erie preferred,
which sold down 10 431z, against asa yes
terday. During the afternoon a stronger
feeling prevailed, and a recovery OF 15@l1s
per cent. ensued, Erie preferred leading IN
tnl Improvement. This advance was well
M Il AIMED to the close. A firm tone char
acierzed the final dealings. The recovery in
Ere was due 10 the announcement that the
London shareholder of the Atlantic and
Great Western road have consented to the
lease Of the property to the Ere railway; also
10 the fact that the expenses OF the last men
toned road decreased $4,000 IN the past
month, notwithstanding the expense OF keep
log the road clear OF snow. A live
ly contest Is IN progress IN the coal
shares totally Lackawanna. The bears
made strenuous efforts to depress the stock
with large amounts Of seller sixties, hoping
to get prices at a lower range for covering
purposes, but the cash stock advanced, be-
cause the output Of coal, owing to the con-
tlnued cold weather. is likely TO be very large,
particularly for Lackawduna, whose profit Is
on the amount sent to mar ket, and not the
price. There Is some talk of taking the
New Jersey Cenra out of the hands of the
receiver. In this connection the Times says:
The feeling Of dissatisfaction created by tne
vague character Of the recent report Of
the receiver of the Central railroad
company OF New Jersey, and
rs remarkable omissions still continue, and
many individuals who were induced to part
with their holdings on the impression that
the documents referred to gave a fair repre-
81 Il 10,
company, express much Indignation and
claim that they have been grossly deceived.
These parties say that many Items which
have been included under the heading of ex-
peuses should properly have been charged to
the construction account; and that had this
been done, the report instead Of showing an
apparent deficit of sl89000, would have
shown an increase IN net earnings, as COM
pared with 1877, of S400 600 The strongest
stock was Western Union, which advanced
on large transactions to 1861, the highest
point yet reached, and closing sales at the
best price The Post says: The above
stock was bought with the confidence that
implies the knowledge of something that
will advance the price. Rumor had 1t that
an extra dividend of IL per cent. would be
declared in March. The short interest here
and at Washington Is large Transactions
aggregated 208, 600 shares, of which Is, 900
were Erie common, 1000 preferred, 81 900
Lake OlOEt, AOUU w dUdbIlt IL 3UOO
western commJn, 1900 preferred. IL 600
st. Paul common. 1000 preferred, Sc, 900 New
Jersey Central, 800 Michigan Central, 2600
Union Pacific. 5000 st. Joe, "a 900 Western
Union and 1900 Missouri, Kansas and Texas.
The following are the closing quotations:
Western Union, 1865; Quicksilver, 1I2;
Quicksilver preferred, 3219; Pacific Mai, l318;
Mariposa, Al; Mariposa preferred, 5; Adams
express, 106; Wells & Fargo express,
9915; American express, 4924; United
States express, =; New York Central. 1861;
Ere, 1855; Erie preferred, A; Harlem,
l54; MIch,ean Central, 50; Panama, 133;
Union Pacific, 1873; Lake Shore, 7l16; Hi
ools Central, Sl4; Cleveland and PITtsburg,
9I24; Northwestern, 5638; Northwestern pre-
ferred, S724; Cleveland Columbus, Cincinnati
and indianapolis, 4215; New Jersey Central,
382s; Rock Island, 3l4; st Paul, 3816; st.
Paul preferred, S24; Wabash, 211s; Fort
Wayne, 1861; Terre Haute, Z; Terre Hdute
preferred, g. Chicago and Alton, 771a; Chica-
90 and Alton preferred, los; Ohio and Missis-
sippi, liz; Delaware, Lackawanna and Wes-
tern, 40 q; Atlantic and Pacific telegraph COM
papy, IS; Missouri Pacific, IA; Chicago,
Burlington and Quincy, ll6; Hannibal and
ST. Joseph, 1875; Hannibal and st. Joseph
preferred 438j Canada Southern, sos;
Central Pacific bonds, 1O91&; Union Pacific
bonds, I093s; Union Pacific land grants,
11216; Union Pacific sinking funds, 11315.