New-York tribune., 1879-04-29

MoNnAY. Anvil or. NJ.

The Western newspapers are much excited over
fhe new Wabash Ra lTOad combination. The CHI
cago papers generally affect 30 think that it viii
amount to little, while the Missouri State. Toledo
and Detroit papers are inclined to be enthusiastic
oyer fhe great results to be achieved by it. A De-
trot paper publishes letter of congratu-
Iation from the president of the Board Of
Trade to Mr. Joy upon his election as a
director of the Wabash Railroad, and Mr.. joys
reply. in which ne states that ne accepted the posi-
tion only on condition that the Wabash Railroad
should be extended to Detroit to q CONNECTION with
the Grand trunk and Great Western Railroads Of
Canada Provided all the talked-Of plans are car
ricd out. and the gentlemen engaged IN them
"mean business" the combination undoubtedly Is
the most important railroad movement that has
occurred for a long time, and one that is destined
torevolutionize the business between Now-YOrk
and st. Louis and the Missouri River points.
The stock market to-day extremely feverish
and irregular, seemingly working at cross pur-
poses. Some stocks were weak while Others were
strong o:v after little while to reverse their CON
dtions The leading features still were the South
western and coal stocks. OF Kansas Pacific only
420O shares traded in, first NJ 7l2049, then
with rush TO 52ll, followed by decline 10 0OI2
and final sales at II. Wabash first sold at $3.50
So and then to 34l2; ii was fairly steady until
near the close, when 1t broke to 81 l4G321.
The St. Louis, Kansas City and Northern
advanced 4 TO- 2l2 per cent but did not hold their
best prices the common dropping from 1875 TO 1872,
and the preferred from 1878 TO 39li. Missouri,
Kansas and Texas duh and steady at II IA.
These stocks make up the list Of those represented
in the new arrangements, but nevertheless the
other Southwestern stocks to a certain extent sym
pathIzc with their rise fail. Hannibal and
ST. Joseph opened lower at Is and rose to 1898,
closing at isai and the preferred stock after sei
ing al - a42li, ending at 11&i. The St Louis and
San Francesca stocks also higher and st. Louis
and Iron Mountain rose again 10 2li2.
The Northwestern shares opened weak, with the
common stock down to 5Sd1734 aud the preferred
10 So Later there was "a rally OF 1l2 and 1ls per
cent respectively, with a final drop of and I2 per
cent. he transfer books of the Northwestern
Company will close on Wednesday for the ANIMAL
election, and in anticipation Of demand Tor proxies
there is "a difference between the cash or regular
price of the stock and sales on sellers option Of
three days Of from 3 to l2 per cent.
The ST. Paul stocks sympathized with the
Northwestern. but closed weak. Western m
vestment shares were easier. Of the trunk
line shares Central and Hudson and Lake Shore
were steady, while ErIe Canada Southern and Mich
igau Central weaker: The coal stocks were
alternately strong and weak. closing at about the
lowest prices of the day. Telegraph stocks were
lower and closed weak, Pacific Mail was shade
higher ana hrmer, and excepting Standard which
was strong at 29l2 the bullion stocks were neg
lCcted
At2lO o'clock the whole market looked strong
but al o'clock 1t seemed weak and unsettled
SANCE or STOCK MARKET.