New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-04-15
THIRD CALL-2.30 2. NJ
MONDAY. Anril Up. N.

An Associated Press dispatch from Philadelphia
that was published in to-day's papers fully ex-
planned Saturdays movement in the coal stocks.
The dispatch stated that n special TO The Ph'fn-
delphid Times, from Hazlcton, Penn said that 1t
was learned from good authority that movement
was on foot for the formation Of a coal combina-
tion with every indication Of success also that the
movement sprang indirectly from Judge Packer. OF
the Lehigh Valley Railroad, who saw " tho neces-
sity of doing something Ingcniously woven into
the dispatch the expression of the opinion that
the price of coal not likely to reach more than
- per ton. An investigation of the matter made
here to-day leaves no room for a doubt that the
dispatch was one got up purely for effect on the
Stock Exchange; in fact, the coal men here al
most unanimously assert that this is the
case and say that there is not the
slightest foundation for any one to think
there is any movement on 80 foot for the formation
of a coal combination" One president adds that
" if there were no stock market the word combina-
ton as connected with the coal trade, would not
he heard during the year 1879"
Nevertheless. the dispatch In question was not
without Its effect on the prices of coal stocks to-
day. although, perhaps fit had been left unaided
by manipulation 1t might have fallen dead upon the
market. But it successfully used
TO make higher prices. after which,
perhaps, it was used successfully
to make sales at the advance. Delaware, Lacka-
wanna and Western opened up to 1873 and rose TO
lis and later sold at SOL a 5Oas Delaware and
Hudson started at an advance of 81 per cent at ii -
and sold at 4294G42l and Central of New-Jersey
opened at Al -, advance of il per cent, sold at
421s later declining to fl and closing at 49, As
in the eyes of the stock spectators coal comnina-
ton Is deemed OF first importance TO the mantle
nanCyOf prices for stocks the accounts of interviews
w
printed elsewhere are of peculiar interest.
he general market to-day was characterized hy
fcvcTiShncSs and iTTcgularty, with frequent ilucu-
atoms IN the stocks that wer' at all active. Kansas
Pacific stock was conspicuous because OF ITS adj
vance from 26l2 (Z5l4 Saturday to 3Ol2G3J14,
wnle Union Pacific was equally notable IoI us de-
cline from 7G to "a, and its later rally TO 744 The
Wisconsin stocks were tiuctuatmg, with down
ward tendency, and IN final sales, which were not
at the lowest figures show declines ranging
from Il 10 8 per cent from Saturday. last prices.
The Western stocks-thOse of the railroads that
COMPOSED the recent Southwestern pOOl-atter
further decline, generally improved and c.o~ed
higher than Oh Saturday. Hannibal and ~. Joseph
preferred sold at 4Ol2a iGa 4l'sa4lli common
stock at 1fG14&0lil2 s.. LOUIS, Kansas City
and Northern at oa I7saS ;. and preferred at 3O$a
81 l.. Wabash largely dealt IN at from 20i2 to
2lIsQ203, but Chicago and Alton declined from
rs bad AT the opening To 75s sales AT the close The
truk line shares were dull as I" amount of transac
tons and Welkas 60 prices, closing hOWeverat gre
coycTy for Lake Shore, and - Tor Michigan Central
Investment railway. shares were only lightly
touchcd Rock Island declining per cent on sales
of 800 shares.
Western Union was inactive with sales from
1868 down 20 1OG0lO6ls Pacific Mail opened
strong at 14lsGl135 but later declined to 133i.
The company to-day pad 10 the Panama Company
the $4,000 on account that ii was agreed to pay
and il Is understood that a memorandum OF an
agreement ana contract was satisfactorily ar
ranged and viii be signed and ratified
as soon as the papers can be pre-
pared. The annual election for directors of
the Pacific Mail Company will take place
on the last Wednesday in May, and understand
that there Is likely 10 be sharp contest, with two
and perhaps three tickets III the field 50 il may be
well for stockholders not to part with their proxies
until they can know the names proposed for each
ticket Standard Mining COmpauy's stock to-day
declined 10 25ll, and then rallied to 2oLt Tins
stock promises TO furnish the means for lively
speculation.
The market closed Irregular, but generally weak.