New-York tribune., 1879-03-28

anil The character OF the present. s'oeh in"i
tst "a hest illustrated by reference 10 'ne ""1
a. ths stocks that represent the coai-ininiis o."
ooal-carrving companies. There is DO S.'o"P
ho,v tbat the condition OF the coal TRACE is SUM .
A. warrant a buying of. these stocks At'er an %
,,ond;tpra of fifteen months production OF coai y,
of inst so much assets taken from the capi'NH'
,vere in the ground the debts of the Deia"l'o ""U
Tudson and Delaware, Lackawanna anu "0'''in
Comuanies are actually greater than 'ney WV
before the expenditure OF the pioeec"s " 49,
months mining, and the present Pr,ce VI 0O%' .
1oss ,bon IL was at the time named-NovemDe''
e9z IL tho nrices of the stocks are now firmly
ia a. from 12 to 10 per cent higher than
.ho.o of November 1877. But against these facts
:. roed that the present low prices for coal VIII
torca another resort to a combination, just as the
-co that were realized at the auction sale in NO
xe,nber 1877, were the origin of the combination
nj f1s7s. Another prevalent error is that the com
aD;es that are interested only cOal-carrers such
as Central of New-Jersey, are benefited by the
Greater out put without regard to the price
of coal This is not the case, because
tbe tolls on coal are regulated by its price
at tide-water. For instance, the Lehigh Valley
Railroad a competitor of the Central of New-Jersey
Company, last week reduced its tolls IL cents
ton.
u
market Delaware, Lackawanna and Western sell
ing from 456s to 45ls and then up to 46lsG 1873
and Delaware and Hudson improving from 36s4 to
S9AG39 Morris and Essex was dull, with sales
at SO, but Central of New-JeTsey was subject to a
manipula alton that left the operators in doubt
whether the object was to buy or sell the stock ;
opening at $685. it sold at 367sa36l2. and then rap
IDLY advanced to STA and closed at 81.
The granger stocks also continued to be
leading features: Northwest common opening
rather weak. and later alternating between strength
and weakness, with final result of sales at 574@
57l2, against 81 the opening figure. The preferred
stock sold at 660S5l2G S6sSa S6l4. st. Paul COM
mon was strong all the way through, although at
one time its price touched 3S7s and the preferred
stock was steady. The trunk line shares. while dull.
were not 50 firm as they yesterday. Ohio and
Mississippi rose to 103401O5s, and the preferred
stock to 81 g. The Western list of fances for the
most part were neglected, and theE prices were
steady. - -ao-
Western Union sold at 1O4li 1O3Sl0 01037s,
Wall Street seems to have little confidence IN the
success of the opposition company and to regard
with incTedulity its promises Of what II can
do. Pacific Mail exhibited desire for speculative
recognition, in first decline from IL TO l2l2, ana
then an advance TO 134413lS.
The closing rates were somewhat affected by
report that the Secretary of the Treasury was IN
some way to come to the relief of the money market
That the Department Will do all that 1t lawfully
can to prevent any stringency IN money may be
depended upon, bat il lot likely that spectators
will succeed III inducing II to become bank OF
discount.
The market closed feverish and irregular.
RANGE
AsFeportsd 6y TIE cold and Stock Teegraph Company