Year: 1873

|


prominence of the names connected with this great


undertaking insure for it popularity on both sides


of the ocean, and as the condition of monetary af-
| fairs in London and on the Continent is in every


way favorable and the minds Of European capital


lists are apparently attuned in that direction, there


is every reasonable expectation that the subscrp-
| tions will far exceed the amount offered. We cali


attention to the advertisement for particulars.


survey of the list of reported stock sales to-day


shows slight Improvement the closing prices OF


last night in nearly every item. The largest gain was
| in quicksilver, Common and Preferred, the former


of which advanced 2s, and the latter per cent-a


very important change for single day If it were
not for the fact that nearly all the stock is held by
a single individual whose Christian name Is Daniel,


and who may mark 1t up or down ad Hbitam. The
next largest gain was in Western Union Telegraph,
which rose per cent on yesterdays last price, clos
ing at $50 after much buying and selling, most OF
| which seemed to be real


| The Congressional idea of supplanting this Com
pany by the formation of new one under the aus
pices of the POst-Oioe Department is not relished
by the managers Of the Western Union, who never
contemplated any government interference that


should not result in buying them out at hlgh
price, The programme of the PostInaster-Geneial
is so entirely at variance with this IDEA as 10
materially change the situation. The Company VIII





strong enough with the National Administration to
defeat this OF any other measure calculated to in
lure their business. At the time it is believed
they will hardly attempt to pass any bill of their
own having for it's object the absorption OF their
entire establishment for a consolidation 10
be measured by the par value of the STOCK.
In this they would encounter the opposition Oh
the head Of the Post-Ofice Department, who Is
only human and would prefer drawn battle to so
positive defeat. In word the stock stands Tor
the present on it's intrinsic merits, whatever
they may be, and the future quotations VIII
probably depend on the earnings OF the
business rather than Congressional l0D-
bying or any other extraneOus influence
Ohio and Mississippi was worked up some per cent
ON fair amount of sales, and the innOcents were
duly miked just as they have been thousand tunes
before Rock Island was insignificant a feature
in the DAYS business as to give rise to the suspicion
that the manpulators not at their post to-day


II opened at 1l3a and closed at 113!. New life has
been put into Pacific Mail, rumOr says, by the
purchases of one Smith who seems determined to
achieve Immortality by going in at the very time he
should stay most severely out. AS result OF MS
operations to-day with the aid of the safe arrival OF
tbe Alaska he actually raised the quotation from
- to 74s but the altitude was too great and
the price settled down at the close to 735. Inc
movement is characterized in the venacular OF the
street as a mere fycro by which they expected to
make a small profit on few thousand shares and
then retire in good order Toledo and Wabash had
slight spasm which, taken in connection
with the fnew departure in Quicksilver, indi-
Gates that Mr.. Drew has partially recovered
from the shock received in the North
Western transaction and is looking after
some of those old favortes he sincerely regrets


having abandoned. Opening at 49,, it actually rose


to "A and settled down and looked vigorous at the
close at 73s. Lake Shore wound up at 81, nearly
Dor cent advance on the latest sale yesterday.
The market for Atlantic and Pacific Preferred was
more pacific" than it was yesterday
or the day before, the aggregate sales amount
ing in round numbers to some l5,OoO shares'
These. added to the sales already reported,
are sufficient to close out the entire SlOOOOOO OF
this issue. On close examination of the list we


eoret TO notice the sale of large lots as low as S6I


for we have a tender regard for this Company, and
il wonld pain us to see them sacrificing their
property at this rate but the presumption is that
the transactions at this price were resales made
by tickle operators who never hold anything
long enough to get the full beneht oil IT,
The closing sale was at S6s, decline OF II on the


closing price of last night. To-morrows sales Will
he looked for with considerable interest by all OBJ


of the operations Of the bOHrse for if the price


shouId still further decline the difference between
! the future average sales and 37i (which IS the
| average cost win be the net federal loss
| of those who were so eager only yesterday
| to secure some of this stock. On the other hand


sbould il rise above 37i there will be profit, and


the buvers will fecitate themselves on their superior
! discernment OF course there will be no more large
| blocks offered, and therefore may expect TO see


n great falling off in the transactions unless the adj


vance should tempt resales. Union Pacific, not to
| be entirely behind its neighbors, put on


good face, notwithstanding its recent exposure
| and not only held its own, but actually
| ACCOMPLISHED an enhancement OF ! per cent Z. 4.
| and J. c. maintained q mastery inactivity, and


dropped per cent, closing at 400. Northwest made
| q show of life merely, and exposed its intrinsic


weakness by falling off per cent OH quotations that


are only nominal at best. Erie was very active and


strong and uniform in price here rising in London
| to 53g. Large transactions were made between 6Jt


and 6G2, the advance being partly in SYM


patby with rise in the London mar


ket. There was later reaction to 66..


The remainder of the list advanced traction eafly


in the day and lost the improvement in the after


noon. The investment shares were quiet and
| steady Delaware, Lackawanna and Western de-


cined from 1O13 to 101. NewJersey Central sold at


105. Michigan Central at 1O9 and Morris and Essex


at 910Gg. The coal stocks were higher, but ex-


presses declined Adams falling off from 99l to 90.


The general market wound up dull and steady.


The opening highest, lowest and closing prices


were as follows: c,..,..


N. Y. Central Hudson...... lOis lO5s lOia iOii