New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-03-24
TUESDAY, March esp. VI.

TUESDAY, March o3-P ".
The stock market to-day opened weak and con-
tnued TO be weak all day, subject only to natural
reactions Or course the reason assigned for the
change from Yesterday mornings bu)yancy Is tho
unexpected activity in the money market; but
the real reason pr, badly is that as has been tho
uniform custom of late. the large holders OF stocks
yesterday improved the opportunity offered by a
strong market to make liberal sales. Tho
transactions of the day amounted TO 1913 $40 shares
against 313 2S3 yesterday. The depression, which
was general was most marked in Manhattan Ee-
waited Nashville, Chattanooga and ST. Louis, lious-
ton and Texas. Pacific Mail, New-Iofk aud Metro
politan Elevateds Central Pacific, Hannibal and
81. joseph, Chicago, st. Louis and Ncw-Orleans,
Ohio and Mississippi, Delaware, Lackawanna and
Western, Ere preferred, Wabash preferred, Western
Union, etc., etc Concerning Manhattan EIe
waited the story of the street runs that the
Nev-York Loan and Improvement Company,
witch was the builder and original owner of ths
metropolitan Elevated Road and which received the
90 600 shares of Manhattan stock apportOned tc
the Metropolitan Company, has sold its Manhattan
stock upon the market. 1t is further believed that
the operafion has some close connection with the
defeot Of the Five-Cent Fare bill in the Senate at
Albany. But this is of secondary Importance Fit
be true that the New-York Loan and Improvements
Company has sold the Manhattan stock, tue reason
n le inference is that the companies ere not earning
the 10 per cent which the Manhattan guarantees
to pay on tie New-YorI and Metropolitan stocks.
The Chicago, Milwaukee and ST. Paul directors
to-day declared Gig per cent dividend on the COM
mon aud preferred stocks out of the earnings for the
six months ended December 81, 1879, and at the
same time published the following briefstatement
Gross earnings OF railroad ,0l2slD
Interest received on money loaned. os2gSc
Total lVVV2ioocg
o.
Interest payment and sinking fund in
ls79, ~ s7o .....-.. g $$i3Isg
TTtrse a5d oqe.hai Per sep, on pre- ..o-oo
Th,es one hall PER cent or common ,.o,.o ,,ooo
st9e5 pay"be Aprh l.-'..-.''-' ~ oo'1iV- is4sda5
In view of the fact that the funded debt of the
company was increased over 100000 900 during
1879. and that tho above statement includes for
payments for interest and sinking fund only
SI67 900 more than the payments for the same pur-
poses in SIS, the statement may be regarded az
ore OF the most remarkable railroad statements
ever issued in this country. Another remarkable
feature is that the Operating expenses ms Tor ls'9, as
reported. only 54o0 per cent OF the gross earn
ings against $3.50 per cent in 1873, although last
year the company was operating some 400
miles of new road. The effect OF the dividend on
the common stock and Of the favorable statement
had been 50 largely discounted that alter the pnb-
lcaton tie price of the common stock rallied only
o. per cent to Sl3s. Lake Shore, Michigan Central
and Erie stocks fTactOnally lower and closed
without recovery. Ohio and Mississippi, in the a6;
from 1913 to 36SiQ37 Generally the coal
stocks were well sustained the popular ln-
preston being that the clique in them
has 10 alternative but TO advance the prices in
order to get out" but they all show greater or less
declines. and it is not improbable that the popular
idea of what must be done has enabled the Clique
in question TO reduce its holdings materially.
pacitic Mail active, with sales amounting
to so 900 shares but its price declined from ~
after a rally to 42l2 to $3.50 49, Telegraph stocks
were duh and lower without special features The
market closed weak.
The final changes from yesterdays closing prices
are rs follows: Decnes-C., c., {. and l., Chrsa-
peake and Ohio Northwest preferred. ST Paul, Mo-
bile and Ohio Central and Hudson. Northern Pa
c;fc preferred Ohio and Mississippi preferred and
ST. Paul and Sioux City, each IA Delaware ard
Hudson and Northern Pacific, each - Alton and
Ierrc Hante, c. T {; and .nt c. lake lake
Ing Union Pacific Wabash, and American
Express each -; Lake Shore aud Morris and
Essex, each os: Northwest, Hannibal and st.
Joseph preferred, Missouri, Kansas and Texas,
and Pacific telegraph, each s. ; Canada southern
AID Erie each IS; Delaware. Lackawanna and
Western, Louisville and Nashville, Louis
vile. Ncw-Abany and Chicago, Erie pre-
fprred Wabash preferred, and Western Union.
each Ohio and Mississippi, lis Chicago,
Joseph, each "a; Central Pacific and New-York
Elevated, each - Pacific Mail. 2ls: Metropolitan
Elevated dig; Houston and Texas. 81 Nashville,
Chattanooga and ST. Louis. 3l2; ANA Manhattan
Alton Il; Adams Express, 10; Burlington, Cedar
RAPIDS and Northern and Chicago burlington and
Quincy. each q; Alton and Ierre flaute preferred,
/; aud Rock Island, 3i2 per cent.
NANCE STOCK MAaSxL
Airevorfd bv ne God ana StS's Isis0riot Comp7nI
Aolun 1 sac. 'i Bii!. share.