New-York tribune., 1886-03-17
CLOSING pRIOGS OF PaiLtDgLPHfl srOCKS
-
TUESDAY, March 6-P. VI.

To-days stock markets made up almost exclu
svoy of local professio trading. and the total
transactions both boards amounted only to 407,9S0
sharss-at the Stock Exchange 293SOS shares and at
the ConsOlidaed Hale shares agansGO2, 443 shares
yesterday The speculation opened at figures generally
a little lower than last evenings prices bat Delaware.
Lackawanna and Western exceptionally strong
rose Il per cent while in the early
dealings were depressed Excepting for Reading prces
did not touch yesterday lowest figures aud generally
the fluctuations within the small frsctlon' till late
in the day. when the grangers and particularly St. Paul
developed strength while all the coal stocks developed
weakness. 1t is noticeable, in connection with tue re-
cent ruluors that the transactions in ST. Paul to-day
only little than one-tnirj OF those OF yester
day when the price declined from 9O& Saturday
ing to SStG S9A. To-Day 1t to 81 aud closed at
The market poorly supplied with Items
The only of the day worth noticing the follow
ing, which circulated about II O'Clock: "Onical-
Grand Central DepoU-Drectors meeting Lake shore
will be ony informal affair. They have decided not
to pay any dividend in May. Tue company will make
no statement OF earnings until July next When diy
dends resumed they will be SENT annual basis.
Mark the wording, The meeting will be-" aud they
have decided not to pay" etc. As a
matter meeting OF the Lake Shore directors
will be held the last or this month. VIII the question OF
u dividend will " be decided. 1t has been the
OF the company to make statements OF earnings
other than in Juno aud December except such as 1t
makes to the NewYOrK State Commissioners the
omission will not be departure from the usual
rule. We 90 into this explanation. last evening We
did into the bank Question. ouy for the purpose of
showing how innocent disseminators of news are now
used to affect stock values NO statement" " has au
omiuous sound to those who possess short memories
This matter undoubtedly hal effect on the market
all the trunk lines stocks closed lower than they
did evening while the general arket xcept Reading
closed fractions higher There is discussion about
what the difference shall be between the quotation FOR
Western Union dvidend-on and ex-dvidend OF 1la per
cent scrip II as II the practice followed whom
Now York Central made Its scrip dividend sh Oud be
put in this casethe scrip to follow the stock
and quotation OF ex-divdend not to be permitted by
the Exchange. No hardship then can ensue either TO
purchaser or seller any The legality
Of the issue Is questioned By the
wording OF the directors resolution ordering
it, We duote the resolution: ReSOLUed That dvi-
dend OF ana Onensf cent be declared on the cap
of the company. to be ssue on and after tue
18th April prOXmO to the stOckhOders OF record at
the close the books of transfer on the 10th OF
instant in certificates OF Indebtedness, payable
in capital stock OF the company at par within twelve
months or when He company Shtt hare obtained author
tn 10 increase its cdDitS stuck and until 50 paid the said
certificates to bear interest at the same rate. and payable
the tlme times and I'm the same nanneras the
company shall pay dividends on the capital stock Sucn
certificates transferable on the books or the com
pany," The certificates PAYABLE only IN the capital
stock company and not TIL authority ts obtained
the stock. The market closed irregua aud
iever-h
Government bonds we're quiet firm, with the bids
for the coupon Is and 42 advanced s per cent. Bids
for the currency Is rIeguary chauged. Annexed
are the closing quotations;