New-York tribune., 1880-01-07
TUESDAY, Jan. 6-P. ".

The stock speculation to-day was favorably
affected by three separate causes: First, the an
nouncement in The TRIBUNE that the Central and
Hudson syndicate had determined TO purchas from
Mr. Vanderbilt the 100000 shares of stock for
which il held the option until the 10th INST;
second the refusal Of the Supreme Court to ad-
vance on the docket the legal-tender case; and
third. the expectation that the Treasury tomorrow
will be able to buy S5,000,000 of bonds
at its figures, and will therefore dsburse thaS
amount in hard cash." The syndicate
operation, which makes the total purchase of Cen
trail and Hudson stock $2j, 900 GOO at 12O, was ac-
ceptcd as evidence that the wealthy firms and gem
tlcmen comprising the syndicate have confidence in
a higher range Of values. Yet it was noticeable
that some of the members of the syndicate were free
sellers Of other stocks. So far the effect of the
action of the Supreme Court is concerned, it seems
to have resulted from a msconception of the rea-
sons which actuated the Court in its decision,
which understand to be that. the legal-ten-
der case involves important OBSERVATION-DISCLOSURES
il is deemed advisable that the case shall be
heard by the full bench, which would be impossible
If advanced on the docket at this time. AS to the
1reasury's purchase of bonds, circumstances ind-
cate that it will be successful in securing a large
proportion If not the full amount, of $5.000,000.
Nevertheless, after a rather brilliant start at
prices materially higher than the closing figures of
yesterday, the market proved to be irregular, fever
ish and unsatisfactory. with final changes that
in only few instances amount to as much
as l per cent. The gains exceed the losses
only by n small majority. Oregon Railroad
and Navigation was notably higher, selling up TO
1OS. an advance of 3l2 per cent The common
stocks of Northwest and st. Paul were per cent
higher and closed at their best figures. Relative
to st. Paul. private letters to-day received from
Milwaukee state that the old case of the bond
hon ers Of the La Crosse and Milwaukee Railroad
AGAINST the Chicago ST. Paul and Milwaukee Com
pany was again before the United States Circuit
Court January l. on application of the st. Paul
Company for longer time to prove its
plea Eight months ago the Court granted time
to January l. and now, after consultation be-
tween Judges Drummond and Dyer. the Court has
granted further extension Of sixty days from
January 1.
The st. Louis aud San Francisco stocks were all
higher, as also was Pacific Mail. The coal shares
were fevcrish and irregular. Among the shares
which declined. the elevated railroad stocks again
were conspicuous, while some other stocks show
final losses OF from ls TO q per cent After the adj
vance of the early hours and the subsequent de-
cline there were numerous fluctuations up and
down. and the closing happened TO occur while one
of the rallies was IN progress. SO we quote the
market strong.
The final changes from the last prices yesterday
are as follows: Adyanccs-Miss0uri. Kansas aud
Texas, Northern Pacific, Union Pacific and Wabash
preferred each Is; Rock Island, Illinois Central In
danapolis Cincinnati and Lafayette, Mobile and Ohio
and Ohio and Mississippi each Il Erie preferred
and Iron Mountain, each y Albany and Susque-
hanna Lake Erie and Western. Lake Shore, Nash |
Vile Chattanooga and 81. Louis. New-Jersey Cen
tral and Atlantic and Pacific Telegraph each i2 Ere
and Wabash. each %; Alton aud Terre haute and
Michigan Central, each a; st. Louis and San Fran
cisco first preferred, 7s Northwest, ~. Paul and
Pacific Mail, each Central and Hudson, III ST. |
Louis and San Francisco common and preferred |
EACH l2 Chicago and Alton 2; and Oregon railroad
ard Navigation 3l2 per cent. Declines-Houston |
and Texas, Louisville and Nashville and Western |
Union, each ls c. c. and ]. g., Cleveland and Pitts
burg Northwest preferred, Hannibal and st. Joseph,
Marietta and Cincinatt first preferred and Ameri-
can Express. each Il; Delaware and Hudson, % |
Northern Pacific preferred and Reading, each l. ; |
Manhattan Elevated, III; and Newlork Elevated |
2A per cent.
STOCK MAHSKE
Afrepsrtsa ~ the God aud Stock Tete0rssh Scmsanm