Year: 1878

WEDNESDAY, Dec. 4-6 T. NJ.


Regarding the stock market in it's totality. prices
at first better afterward and best at the
end. Taking it for all in ALL the bearish movement
has not been successful Directed it primarily
against the Northwesterns and secondarily against
he rest of the market the result has not been fat
sering Under the pounding which the grangcrs re-
eeived something akin to panic to be expected
On the contrary values resisted the onslaught. and
this afternoon good part OF the loss suffered during
day or two past was recovered. The Northwestcrns
closed something per cent higher than they
had opened and the rest Of the list followed in SYM
pathy. There has been much discussion as to the
prospects Of dividend upon the Northwestern
shares. While some operators $50 far as the
common stock is concerned) willing
to plight their faith upon its declaration.
others regard it as "baseless fabric of vision"
upon which reliance can be placed. The meeting
of the directors tomorrow is likely to settle the mat
ter. In the interim we learn from good authority
that dividend Of 81 per cent upon the preferred
and of por cent upon the common stock will be
agreed upon proper distribution to stockholders.
and that 1t will be at the time shown that there
will remain an available surplus of something like a
million Of dollars In cash. Between opening and
closing prices clean per cent was realized upon
the prices Of the ST. Paul stocks Thanks to the mud
euiDareO, NJ tiilS idst year
liberated Western railway traffic. this company is able
to show increase instead Of decrease in ccm-
parative earnings. The fairness and squareness
of this company in publicly announcing their
position. whether under good report or bad report
Is highly deserving of commendation, and may fairly
be offered as example to more than one railroad
which skulks in obscurity when favorable reports
impossible to be made 1t is therefore gratifying
to record increase of earnngsas in contradistinc
tion to several weeks previous decreaseof for
the fourth week of November The coal stocks were
strong to-day. 1t was rumored that the Delawares.
rather than the combination go by the board would
submit reduction Of certain percentage of their
own allotment. and permit the to be passed to
the credit of the Lehigh Valley Company. Although
there grounds for this beyond mere rumor
the prices of coal stocks improved the inl-
piled chance of a continuance Of the combina-
ton. 1t is safe to say that Lake Shore
was to-day the weakest Of the active list,
though. as it eventuated, the opening and closing
prices nearly the same. Reports that Mr.. Van
rife two three days back but they the
same time depressing in their influence. So ac-
counts of the cutting Of Western bound freghts,
which added still to the depression As regards
this latter hear from excellent railroad authority
that the various lines never in more complete
accord than they at present and that question
Of underwriting is likely to disturb the equanim ty
of the railroad managers meeting called for to-mor-
row. At the close the stock market undeniably
strong. Mr.. Gouds injunction upon the North
western dividend disbelicved in, railway war
rs to freight charges was considered improbable.
and the meeting of the coal companies Board of Con-
troll tomorrow esteemed rather squirting
toward continuance of the combination than toward
Its disintegration.


The opening. highest. lowest and closing prices OF
stocks and gold at the New York Stock Exchange
wore follOws.-