New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-12-22

St5. 900. and 6l2 miles of additional second track
800, 900.
The payment on Jackson accident settles all
claims on that account. Operating Expenses iu-
clude the cost of so new freight cars. $4OO,00O;
and also the cost Of 400 tons of steel rails OF
new iron bridges. $40. 900: and of new buildings.
and additions to old ones, $4,000 Assuming that
the atemcnt made last June of the company's
business for the first half year was correct, the
present exhibit shows that the net earnings. over
fixed charges for the last six months were $4,000
or over SIS per cent for the stock.
The following resolution was passed by both the
Lake Shore aud Michigan Southern Company and
the Michigan Central Company:
Pesolr5d That hereafter dividends from the earn
ings of the company be paid quarterly, to wit on
the first days of February May, August and Novem-
her, IN each year the first dividend under this reso-
linton TO be paid on the 1st day of May next.
The business in stocks to-day showed consider
able reduction from the late usual daily average
amounting only to 1854. 0S7 shares, against 429 40
shares for Yesterday. In the early dealings there
was continuance of yesterdays desire to realize
profits and prces were more or less further de-
pressed. In fact by noon-tme, at least one-hlf of
the ordinary room" spectators had come
to the conclusion that Christmas gifts were
only to be secured by trades made on the
short side Of the market. Furthermore there
early indications that there was to be anoGher effort
made to tighten the screws on money, aud this idea
was encouraged by q misunderstanding of yester
davis reported large receipts by the Sub-Treasury,
which are explained below in the proper place. AT
tor midday, however. the temper Of the whole mar
ket was changed and the succeeding rallies were not
only sharp decisive to the true character the
market When the sales to realize the profits that had
accrued DUNG the last seven or ten days ceased
the demand from new buyers continued; conse-
oueutly with q dminut0n of the supplies, the
prices rose. Perhaps the weakest stocks of the day
were Northwest aud st. Paul although st. Paul
made the handsome recovery OF from 1903 to 1925
Qll2l2) and the coal stocks Lake Shore, Michigan
Central and Canada Southern specially strol q
on the companies favorable reports, aud Erie con-
sidern0 that the business in it was only
23.sOO shares, was strong, recovering from
1864 TO 47lo. Among the higb-price stocks
that OF Morris and Essex has attracted less than it's
share of attention from the buyersof dividend paw
ing stock, although its price has more than recov
cred It's lately declared dividend. In some respects
the stock is better than it's first mortgage per
cent bonds; that Ia, if the Delaware, Lackawanna
and Western Company is considered ~ be beyond IN
sovency because the stock is an intermlnable per
cent bond of the Delaware, Lackawanna aud West
erp. while the bonds will mature and be paid off
Compared with such guaranteed stocks as
Cleveland aud PittsburR, and Pittsbnrg Fort WAYNE
and Chicago. the Morris and Essex stock. at
1912. is selling comparatively low Western Union
to-day was specially active. the transactions in il
az 200 sharcsl being about one-6fth of the total
business Of the day. After q decline to 77a It's
price to sos, fell to 79ia and closed at SOL
Pacific Mail was rather quiet trading tn the stock
being checked by the report that the propretors of
the Panama Canal contemplated establishing line
of French steamers between here aud AspinwaI,.
The story seems to he absurd on ito face because
no foreign line Of steamers could CON-