New-York tribune., 1879-03-18
rn1un cAII.-0.3O n,CLnCK p. n.
MONDAY. Marcn ~. u.

The ST. "A market opened to-day with a lair de-
gree OF Ouoyancy, and the prices of the special
faya.Itc, Of the present local speculation were adj
yanccd rather briskly The amount OF business
done showed a marked improvement over the recent
daily transactions But the fact that all Is not gold
that cttrrs was demOnstratedin the later dealings
when prices yielded rapidly to an inclination TO
realize profits.
The granger stocks-Chicago and Northwestern
and CHICAGO and Milwaukec--contuued to be
marked features of the speculation, both III the
amount Of their transactions their early buoyancy
and later declines. Northwest common opened at
5G8t aud after several fluctuations touched 5SA.
and later fell rapidly to 57l4. The preferred stock
sold at sG1ea as7lsGs s60s. s.. Paul common sold no
better than its opening prce-39os-but 1t held re-
markably firm about this figure until near the close,
when il dropped to 3S5s, the preferred stock gong
at s3AQ s3as0S2l2
The coal shares also exhibited tendency toward
higher range of values in the early business, and
lacked friends at the close. The points that were
given ont about these stocks gong up were suffi-
cient to explain their early advance while the ac-
tua condition of the coal trade more than accounts
for their later decline. The Engineering and Mining
Journal In its review Of the coal trdde SAYS:
These prices those of the Delaware and Hudson
sale) are but 4c higher than the lowest average OF
any sale that ever took place in this market and
about four-fifths of the coal was taken by houses
that usually inquire in bOsterlng the market, there
is a suspicion that this sale was bolsttred, an hough
those who purchased should fnd no difficulty
I'm placing the coal The effect has been, however,
70 very much unsette business, and the sales since
have been smaller, whlle buyers are LOOKING ior
lower prices. As some OF the companies, VINO shOud
have an interest III sc uTlng good prices, are the
worst bears III the market there rs no knowing how
low prices may be forced. To buyers, however, we
NAV say that even the present prices must force
some Of the companies into bankruptcy II continued.
and 1t i perfectly safe to lay III stocks even though
bottom may not have been reached. there Is not
the falntest indication of combination, or even an
arrangement to limit production. The chaHc iOr
anything of the sort are beng steadily reduced as
ii Is TumOred that at least two o. the companies are
now making season contracts, which was not known
90 be the case a few weeks ago"
This is the condition of the trade, with the out
put of coal from January to March of tnis year
amounting 10 3,395,O tons, against 23OS,569
tons for the corresponding time OF 1873 an increase
of ,0S6. ll3 tons, and che Reading Company busy
engaged IN making season contracts, at market
prices at time OF delivery, wherever II can.
The trunk line shares were exceptionally dull;
only 300 shares of Lake Shore were sold at prices
ranging from II p TO 7l407l y, and only LOO
shares Of Michigan Central changed hands at from
ssh to S77s. Erie was more active, and rose
from 25ls to 25os closing al 253s. Canada South
ern declined from 63l2 to 6034a 81, and Central and
Hudson sold ex dividend at 1l442G1 1l43i
rose, the common 10 16G15$4,, and
the preferred to 45Aal5ls. The Western
quotations. and Union Pacific was lower at 73l4a
z2l2a 1914. The low priced Western sieculatlVes
were Quet after their recent exhibitions, ana their
prices were without notable changes
Wabash made a further recovery and sold
up 10 203s, at about which price there
was a smart covering of shorts that
were put out during its recent decline. Later
1t sold at l95sQl9S4. An unusual desire Is eX-
pressed TO tine annual report of this company
because of the proposition 10 Issue new mortgage
bonds 70 the extent of 81, 900 for the purpose
OF retiring the Seney mortgage (SSOOOOOl. and
for other purposes, when II Is well known tnat the
receiver of tue old Wabash Company delivered the
road TO the company IN perfect order ana with
d complete equipment The publication OF the
usual annual report seems to be unnecessarily
DELAYED and may be fOrestalllnS II III
quoting from the cOmpanys sworn repOr; made to
the Ra lroad and Warehouse COMmlSslOu of limos
Oh july !, 1878 which showed that the cOmpanys
Indebtedness at that date
Bonded debt $50 4GS5G7
IL.
Western Union to-day presented no special tea
tuTe the sales being at IO4 LA 1Oi4. Pacific Mail
Opened down at 1212, against 1912 on Saturday, de
chned to 121, rallied To l3, aud closed at l2os.
Another conference to-day was held between the
Executive Committees OF the Panama RallrOad and
the Pacific Mail Company, but the meeting ad-
iOurned, after long session, without arriving al
any bds, for "A se ttlcmeHt.
1ue market closed teverishIy weak.
sANGE or STOCK MAKKET.
,sot5 a Tstsgr