New-York tribune., 1879-11-11

.r market from disbursement of Treasury
.hari CASH for the purchase of SlO.o0OOOO Of
<arernuent bonds. All the temporary holders of
s,ock who congregate in OF near the Stock Ex-
change were jubilant over the situation. and the
cxcess of their exhilaraton could find vent only
On advancing prices. The business Of the day ran
un 70 sales of $50 696 shares against 27l 900 Sat
urdav which. after the exceptional activ-
itv IN the shares of the coal companies.
WIS very fairly distributed The coal stocks con-
filmed TO be the leading features. Delaware.
Iackawanna and Western stock improved "a per
cent in value between the final sale Saturday az
coll and the FIRST transaction to-day at 81, but il
very quickly lost this gain later however. il rose
80 93l2G93ss Delaware and Hudson sold at 797s
GS1l2ds1li. against 799s Saturday, and Morris and
Essex at 10l 91O2 against 101ls. But New-JeTsey
Central carried of the palm IN advance from
SOS to s6l2 and final sales at s57s. To help
the movement along the Philadelphia and Reading
Company sent word to Wall Street that next
Monday il would make another advance in the price
of its coal. Erie scored the greatest amount of
business of any one stock l4s,3sO sharesl, but its
fluctuations were confined between the figures of
AIS and 41si, closing at AIS. Lake Shore early
advanced from 1OOl4 TO 102 and later was dull be-
tween 1913 and 1O1 81, and Michigan Central rose
from 9iSs to 96l4a9 c., c., &. and l. again was
pushed to the front as rst-cass speculative stock,
and after opening lis per cent at II rose to 40
The consolidation of the Lake Erie and Western
and Lafayette. Bloomington and Muncie Railroads
is announced for December H. The name of the
consolidated company is to be the Lake Erie and
Western Railroad. The 81 .OO0O 600 of Lafayette,
BLOOMINGTON and Mnncie stock is to be retired by
an issue of 1000 600 Lake Erie and Western
stock-that is, the holders of l., B. and NJ. stock
will receive four shares of l.. L. and w. for each
share of their present stock. When the consolida-
tiOn is completed, the new company with capital
stock of ~, ,O0O. 900, will own and operate a road
800 miles in length, subject to first morgagelens Of
4.3l5. 900, or $11 500 per milc and to non-accu-
mutation income bonds amounting to S2,4>o,OOO.
OF Sc 500 per mile total liens prior 10 the stock,
Sc. 500 900. or $1s.6O0 per mile-a very small in
debiedneSs when compared with that of all of its
competing railroads. The announcement of these
facts was the cause of the unusual activity IN these
stocks to-day. Lafayette. Bloomington and Munce
rose from 6S TO So. and fell back TO n,
while Lake Erie and Western. after o0en-
ing at % sold at 22l2S 29a24a26. As at the
difference between the pr ices of the two stocks
there is a very handsome turn " in buying 100
shares of Lafayette. Bloomington and Muncle and
senc 400 shares of Lake Erie and Western, 1t
seem, probable that this was done to considerable
extent. the sales Of the former stock amounting TO
only 900 shares while those OF the latter amounted
70 G.s % shares. But rs the stock is not to be
ISSUED until December i, this ope ration. unless
made ou sellers option beyond that time, may not
turn ont 20 be rs profit able as II ap-
pears on paper The granger stocks were
active and higher, Northwest common making
q final gain Of 17s. preferred stock j. 81. Pau
1os. pre-. erred stock i. AID Chicago, ST. Paul and
MINNEAPOLIS Is per cent. S. Paul aad Sioux City
common and preferred stocks also were strong adj
vanc,nc s ts and 5l2 pr cent resi- ectively, the
preferred stock however, later losing L per cent.
HANNIBAL aud ST. Joseph stocks were strong and
closed at e best figures but tho stocks Oi the new
Wabash combination were barely steady.
Western Union was inactive, but rose TO 105lsG
1O5. Ne have just learned thai. Notwithstanding
oil the opposition and mi-haps which the new
American Union COMPANY Inns met in the cons true
tion OF t- lines in New-Jerscy. yesterday Sunday
moruur its limo between New-York and Pliladel
ph.a vas completed, and messages of coniratula-
tion passed over the bloody chasm" between the
New-YoIk and Philadelphia Offices. We also learn
that the company expects 10 have its line completed
foWashlngton on during the coming week. Pacific Nail
almost alone was weak. aud declined from 3Sl2 20
36i9a3Gos There is good reason to believe thar
the speculative boom in this stock has expended
itself and that its managers have deserted the
ship. There is also reason 10 believe that the e1-
traordinarv exertions TO make that payment of
$2OOOoO 90 the naColnpany IN the last days OF
September viii result IN greater EMBELLISHMENTS 10
the Pacific Mail Company tnhn would nave occurred
A. naVfneuts had been made only stipulated
The recent exchange with Air. Clyde OF one steamer
iOr another required The assent OF the Panama Com
many 10 Obtain which, ana 10 make good the loss OF
secnrity as represented by tho difference ~ value
of the two steamers. the Pacific Mail has trans
ferre TO the Panama Company ali It's coal, stores.
etc at Aspnwall, Panama and Acapulco. Ihis
transfer pretty nearly strips il of what property
had left
AT the close the market was excited and bu0yaIt
n1NGE q STOCK aAgEE1
1srJoy-e6 ~ the Cold and Stock Tsts0raDh Company