New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-09-05
TIInn CATI.-2::3O 2. VI.
THURSDAY, sept 4-r. NJ.


The stock market to-day opened weak. but
prompt recognition Of the situation by the leading
operators and an equally prompt application OF the
remedies through judi -ious distribution of orders
20 buy, quickly turned the tide that those who
started bears soon became convinced that the
profits of the day would lie ON the q" bull"
side. The transactions of the day amounted
10 23G357 shores against 81 shares yesterday.
The SPECIAL features were ErieS aud the granger
stocks although Lake Shore. after It's first early
decline OF = per cent to SOS, later rose TO SSasG
SIS. OF Erie common 1900 shares were traded
in from 2J7sa 25la at the opening to 27l4G27ls at
the end and The preferred stock advanced Q per
cent to 80. Michigan Central also stronger,
rising from 50 10 S12QSl; but c.. c.. G. ana |.
declined l. per cent TO 81, and Central and Hudson
on small Transactions was Il lower.
Among the grangers. Chicago, st. Paul and
Minneapolis l,y!uch j. not comparatively new
road - being the old West Wisconsin Railroad re-
constructcdl advanced 3l2 per cent to 1872 The
ST. Pauls and Northwesterns nj first were heavy
pud declined a fraction, but later became very
strong and IN final sales show gains as follows:
Northwest common l 81 preferred stock 81, -.
Paul rs, ana preferred stock Il per cent. The
southwestern Inst of stocks. that represent the
much-tllhed-or new tIanscontneutal route. were
traded in 10 an unusual extent. bat without final
results that justified the activity. Kansas Pacific
did advance per cent but il later lost y per cent;
Kansas CITY and Northern gained and lost l. per
cent, the preferred stock ros" IS 10 go and fell
back 80. aud Wabash after rising "a to 30 finally
ended with gain OF j per cent. Hannibal and 81.
Joseph gained s. the preferred stock losing Il per
cent, and Missouri. Kansas and Texas advanced y
per cent to 10. Ohio and Mississippi, opened down
n al 16l4, and sold at 1878. closing al
16ss lual gain of Is per cent. while the preferred
stock declined i per cent. The recent de-
cision of Judge Drummond in the suit brought
10 aunul the purchase of the Springfield
Division and declare the o. and NJ. bonds issued for
that purchase void, changes the whole aspect OF the
probable reconstruction of the O. and NJ. Company.
Naturally with judicial. decree in favor OF the
validity of the Springfield Division bonds, the hold
of the same are less disposed to accept the terms
some time ago offered of surrender of $3.50 goo of
them for cancellation. There are outstanding OF
the bonds besides those IN the possession OF
the Ohio and Mississippi Company or
pledged by it for collateral, Sl,961 900, on
which the past-due interest amounts TO
$3.50. 900: total $2,311. OOO-which the Court has
decided to be a valid claim against the Ohio and
Mississippi Company.
Little was done IN investment shares, but the few
sales recorded generally show fractional improve
ments. The coal stocks attracted less attention;
the large closing up Of short contracts yesterday
afternoon leaving the stocks dead weight on the
hands of their holders. Mr.. Gowcn was in town
and moved about among the coal companies. but
was principally at the Office OF the Delaware,
Lackawanna and Western Company where he
met by judge Lathrop, Of The Central of New-Jer-
sew But Is safe 10 say that no nearer approach was
lnado to an agreement between the companies than
there was a week ago. All of the companies want
better prices the necessities OF all 0fthem eN-
cept,ne the Pennsylvana Company, require
a large output After numerous fluctuations.
Delaware LackaWanna ard Western STOCK shows
a lo.s of 3. and New-Jersey Central 4
per cent while Delaware and Hudson gains L and
Morris and Essex y per cent. Among the mi6ceila-
neous stocks. Western Union gained z and Iacihc
Mail II per cent; expresses being steady and mining
stocks NEGLECTED. 80
The marke; at the close was mixed and without
character.
RANCK IHR STOCK
Asrcye,,ed ~ ne Gold and StOek Teisgraph