New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-11-20
CLOSING PRICES OF PHILA DELPHIA STOCKS
R1llnrLnd hu LII Co No. II Will
FRIDAY, Nov. 19-P. NJ.

FRIDAY, Nov. 19--P. NJ.
The statement of the business of the New-iork,
Lake Ere and Western Railroad for the month OF
September, which is printed below, completes the
record for the fiscal year of that COM
pany The statement shows an increase III
gross earnings over the previous year OF
So. 10 i ,OS6, and increase in net earnings
of % PSI 500 The net earnings. rs given for the
wear ended the 3Oth of last September amount to
S7.O491S3. The interest charges for the same
fiscal wear amount TO S3,96i241, and the other
charges for rentals, guarantees ETC., less resources
other than from traffic should b" about $500 600,
making total of IS, aga, 900. which leaves a sur
plus of 81, $50 .0OO or sum more than 81. 100000
greater than is required to pay per cent dividend
on the preferred stock The stated net earnings the
year are 81 $50 600 greater than the maximum fixed
charges rs now established, to accrue III the year
1854 when full interest will be payable upon the
whole debt. The fact chat the management deems 1t
imprudent to appropriate any of last years earnings
to the payment OF dividend on the preferred stock
while the company Is not paying full interest on ITS
indebtedness, is a favorable indicate of cOnserya
tism, and it certainly works no harm to tie com
mon stockholders.
The business done IN stocks to-day amounted TO
503 200 shares, and the transactions generally
Were we'll distributed. As yesterday,
the higb-prce divldend-plying stocks at
tractcd the most attention, but The
persistent and seemingly strong buying Of such
stocks rs Central and Hudson, Chicago, Burlington
and Qlincy, Chicago and Alton, Northwest st.
Paul. Illinois Central etc, served TO stimulate the
speculation IN other classes of stocks, aud the adj
vance was more general that 1t was yesterday. Tie
question agitatug the minds of the local
operators is VINO are the buyers of
the hgh-price stocks? 1t is conce lei that If
the purchasers investors who pay for What they
buc, the stocks beyond being Il of danger
to the speculation while # they purchased on
margins the temptation to engineer break IN prices
VIII be too strong 10 be resisted by some OF the
larger Opera Ors. So lar however, a5 Que Is able to
judge from the cOuIs, oil the market and from the
growing scarcity of that class of stocks. AL
the CIV dcncc points to liberal purchases b. i'll
ve>tOIs. Besides, IL would require a very bold spec
UatOg to ply Ihe prices wlich arr ruling for that
lass Of stocks OF toe Speculativ.s. today the
Northern Pac.hcs were specially nJuceabc, the
preferred stock rising t. 6ll2a Oils. IL was
sta,eI, but the report Is not confirmed, that
ueeO.iaG ls are completed for She sal by tie COM
pauy oil $4,000 600 Of ga iIstmortgIgc bonds. II
seems pIoaaJie however, That 81 thc bargain IS moi
actually c.nsum auted it w-u he to-.AtrioW. The
speculation il Western Union Vss acuvc, and on a
larg ou standing ,IoIt' Interest tie price was
driven iIo.n 0S4 up 10 1O2aIolas Enc was less
acvc t1-aay tam Yesterday bu, D. rose 10 -, re-
acting. however. to Il3s /, is the fas' ion OF the
average operator, To- sell Ire Short asa "h,uac'
aaa!ls; any long VcI.urr male elsewhere m
tie uqrAct-a habit tha, IS likely 10 make trouble
some day. Lac IN the 1T moo. .lcre E,- "a serious
reaction n prccs generally. s.. nearly lie whole
isl ST. .Us GAINS over h lat figures oi yesterday
or lie O9,uluy one, of to-day, aud tie market