Year: 1874

failure OF Lake Shore stock to rise with the rest Of
the market Of late is due to prevalent fear that the
road Is 80 FAR incumbered by mismanagement OF its
former direction to make the earning of dividends


impossible IN the present depressed state Of railway
traffic while there are those who discredit the
accuracy of the Companys fast statement, and go so
far as to express doubts if any dividend earned
or Is likely to be until there shall be complete re-
viyal OF business; and that it will require all the
preeminent talent Of the head of the concern to
enable 1t to pay even then. If this extreme
view proves TO be wei founded, this
old fayorite will settle down gradually TO
level with the stocks cassed nOn-dividend pay
ing. 1t is TO be presumed, however, that holders
viii not be Influenced by mere gossip TO part with
their shares without previous careful consideration
As there is little short interest in thisor IN fact
other stock at the present writing these opinions
are doubtless honestly entertained, but they
should not be accepted without investiga-
non. central and Hudson, it is expected, will
InIdue course Of time to be an active
speculative stock, the intention being to pay
the 2 per cent quarterly dividend regularly here
after, without the formality Of declaration, so
that stockholders will call for their per cent on
the 18th of January, April, July, and October as
they would for the interest upon a bond. The
course OF Toledo and Wabash stock is q disappoint
ment 10 those who, appreciating the value of the
route have considered the shares cheap at more
than double It's present price Extrav3gance and
other forms of bad management are believed to be
at the bottom of its troubles The downfall of the
shares seems to be checked, at least for time,
aud there are those who look upon it
az desirable subject for a "corner."
The daily sales have been large enough TO have placed
the entire capital, by this time. in tho control of
someone of those who have little feeling that they
VIII corner even their friends rather than fail to
make money. We would not, however. recommend
moderate operators in this stock to hold for corner
but hint of the danger of going short" may do
them no harm Pacific Mail has attracted unusual
attention because Of the performances Of the
steamer PekIng but tho small fry handle the stock
with caution lest they shOuld be gobbled up
by whale. The Company has adopted the
excellent rule of publishing here telegraphic
reports of the arrivals of their vessels at all the
principal ports and giving other indications of
enterprise. Under the management of purely mer-
camille men these evidences of improvement would
probably send the stock to much higher point than


it has reached Of late but it is entirely speculative
stock and cannot be regarded in any other light
under existing circumstances


The Stock market has been dull to-day. and prices
quite generally lower than yesterday. while the
stocks of the roads most affected by the grangermove
ment, Northwestern and st. Paul have been espee-
lally weak, and Union Pacific strong. We are still
without news to the decision of the Court at Madi
son, and the extreme weakness in St. Paul and North
West is attributed to reported heavy decline in the
traffic receipts Of those roads for the first week in
September. The decline in stocks since the close Of
last nights Board has been in Lake Shore, Ohio
Rock Island. and Western Union Telegraph, each
per cent; Hannibal and st. Jo. 4 Wabash, J; Erie.
{; st. Paul. and North-W Ii per cent. Union
Pacific advanced per cent. The opening. highest,


lowest, and closing prices of active stocks sold to-
day have been as follows: