National Republican., 1882-12-23
THE MARKETS.
A Very Quiet Day, with Lower Prices, in
Wall Street
Dividends Declared by Vanderbilt Roads
The Stock Lists,
THE DAY IN WALL STREET.
Snecidl Dien1Icb


NEW YORK, Dec. 22.-Stocks opened a
shade easier and declined to II, the latter
figure on New York Central, Michigan Cen
trial. and Jersey Central. The Lake Shore
and Michigan Central roads made 2 per cent
dividends to-day, but their statements were
not quite SO fattering as expected Keene
sold the market to-day. Gould was very
bullish and said there was sure christmas
present in Western Union to buy to-day. I'm
favorable reports were made by the Wander
bilt roads. Henry N. Smith said it was not
news he sold stocks six months ago on his
own knowledge of what these roads were
doing.
Osborn & Co. sold Western Union, and
Gould's brokers bought it. Keenes brokers
sold Jersey Central, and it was reported from
Philadelphia that the coal trade was dull and
prices were only sustained for salable sizes.
The market at noon was dull and stagnant.
Exchange rate was advanced slightly, but
the demand was light.
Money to and later at 81.
Toward the close tho market rallied on
small purchases from the extreme depression
of the day and closed fairly strong.
Stocks were loaning at 4, with considerable
pressure to lend over the holidays. 1t is
stated in the board that London trading
houses with branches on both sides, like Won
Holman, Niles, and Probst have already bor-
rowed about 100000 shares of various kinds,
which have been sold here and bought in
London at lower prices. These stocks are
on their way here, and will tend to help the
loan market.
Berdan sold about 1,500 New York Central
this morning. Buyers were scattering, and
there was not much pressure to SELL Insiders
in Western Union say there is nothing in the
consolidation story, and Western Union pre-
fers to encourage weak opposition, which
will keep stronger parties out of the field.
The bank representatives here say there is
very little call for cash from their CORE
spondents in the south, and none for Texas.
Government bonds dull and off all round
to-day.
The tax orders appear to be filled for the
present.
The Vanderbilt people say that the New
York Central earnings, in gross, for the cal
endar year of 1882, exceed those of last year
and the receipts, up to December 10, were
$4,000 ahead. The net earnings are ahead Of
those of any previous year.
The big operators still hold their stocks
They are willing to sell, but the outside sup
port is lacking. Until the outside buying
begins there is very little probability of the
situation changing.
DIVIDENDS DECLARED.
New YORK, Dec. 22.-The board of di.
rectors of the Lake Shore and Michigan
Southern railway, at their meeting to-day,
declared quarterly dividend of 2 per cent.
payable on the first of February next
The statement presented at the meeting, be
ing partly estimated, shows an increase in
gross earnings of $303,6O9, and decrease in
operating expenses of $153 429 increase in
net earnings, $457, ,03s over same time last year
The operating expenses include the cost OF
1904 tons of steel rails, and allow other out.
lay for maintenance and improvement of the
property. Nothing has been charged to con.
struction account this year. The road and
equipment have been fully maintained at their
best standard.
At the Michigan Central meeting a dividend
of per cent. was declared, payable the first Of
February next. The statement presented
being partly estimated shows:
Net earnings FOR 1882 NEUTRALITY-SUSPICIOUS.. 50 425 0oC
Net earnings for 1881. SSl.................. 2,202 23t
Interest and entails, 1sS2..............-. 1880 OOC
Interest and entails, lSS1..............-. 1892 92t
Balance, 1882. CPS OOC
Balance, 1881. l..................... ...... 5O9a(
Balance for 1882 appropriated as follows:
Dividend of per cent, February, 1885,. 1914 764
Construction. .......................... 190OOC
Surplus Observation-Disclosures. 6O23t
Total ACKNOWLEDGEMENTS 6250O
Hopes are entertained for last half of year
as expressed in semi-annual statement of June
27, have been practically realized in the net
results as above shown. The operating ex
penses include $55OOOO paid for steel rails
$4,000 for new locomotives, and $4,000 fol
new iron bridges.
The construction exnenditures include $50.