Year: 1876

II becoming moro evident every day that, whatever
be the complications Of the political situation,
TO ''vlanous satpctre' a means OF rightirg them
Is quite ms obnoxious to the pcoplo as II was to Fall
stan. confident feeling has grown up in busl-
ndss circles and u gmmer OF the welcome light has
fallen upon the Stock Exchange Although dulnass
has been tho characteristic feature and transactions
In the absence OF all outside support, have been
tailed TO the brieiost dimensions, there has been no
yielding in values during tho past week. but, The
contrary, in some positive activity and I'm
provemenl New York Central, Lake Shore and
Michigan Central may cited illustrations Of these;
Tor spite of civil talk and other weak inven-
lions OF the cnemy''-the bear contngent-they show
not advance for the weeks trade Of from to per
cent


Under tho ticklish condition OF public affairs it is
satisfactory to find the market holding its with
such persistent steadness but positive was, in


manner, abnormal, and could only be accounted for
by some favorable influences OF extraordinary
ture These were supplied-drst, by tho Unexpectedly
good reports made by the Centra and Hudson and
Lake Shore companies. and second, by tho growing
belief that the railway was upon the OF
clement The declaration of the regular quarterly
dividend Of two per cent by the former corporation,
with tho additional estimate OF million and hall OF
surplus, gave a start to Central and Hud-
son as the heavy weight OF the street, and
under Its leadership the rest Of the active list
wheeled into line Lake Shore has nothing 70 say
about division of profits just yet but II has coni-
dent sponsors enough TO promise and vow dividend
In Its name in the early part OF the year and to
Invite subscribers the stock at market rates. they
themselves being willing TO I'LL the subscriptions
rather than that any one should 90 empty handed.
Dut the strongest provocation the ccn
Sence that hart kari, suicidal policy of cutting un
Sa~su shoh hama AZ ~
holders OF shares and to the good Of the railway
ranies themselves This desirable contamination has
30 often slipped between the cup OF expectancy and
the lip of lruitop that incredulity grew like rank
weed which required most positive information root
up


II seems pretty certain now that what has been SO
long Of hope and anticipation has at last
sumed definite shape, and that some agreement has
been hit upon which will rest4e to harmony the
jarrng clements OF the railroad happy family. What
the agreement Is will be moro definitely known in a
day two, but II VIII probably bear the form Of
contract by which the trunk roads will be pledged
carry eastern bound freight destined for expor to
tho seaboard cities equality Of charges regardless
OF distance, while certain determinations will be
allowed purely local traffic.


Western Union had also its "dish to set before q
king" in tho shape of an excellent quarterly report
but unlike railroads. the price OF the stock Jailed
10 respond except in moderate degree. The opposi
ton Of the Atlantic and Pacific Company which peri
odcally shows itself practically vicious by cutting
down tolls the knowledge that the great increase In
Its business was more less OF sHuke," and the
presence of Jay Gould, who, with huge short inter-
est has assumed the role Of tho mysterious nigger In
the fence . all have tendency to deter speculation
or at least warrant very gngefly touching OF its
shares ior the long side OF the account.


Apart from the specialtcs above noted there is
nothing in the rest OF the list to remark beyond It's
uniform steadness. The interesting question next
turns upIs tho present advance the result Of sheer
man,pua.on under pretence OF better times, or, like
an historical romance, IL 1t founded on factf"


THE THE WEEK


The following tablo shows the opening. highest
and lowest saes regular way. Of the principal stocks
together with 1he number of shares dealt tn:-