New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-15
oLosrse PRICES osPHLADELeH1A srouKx
Eeported AR JoHN Il. DAVE q Co, No. n Wattg.
FRIDAY, Ian. 14-P. NJ.


The stock market If not 50 already, Is fast becom-
ing sensational. To-day the sensation was a Canada
Southern story which leased that line to the New
York Central on O guarantee of per cent per annum
on SIG, 900 900 capital stock. On this brilliant in
veniion the stock of Canada Southern was largely
dealt in and its price rose from 70A to 80. and only
fell back to 6S7s at tho end. The annual
statement of the Canada Sout bern Company for $780,
which was published December 81 shows that its
net earnings for that year were 1887 POI, from
which. deductng per cent interest on the bonded
debt, left balance of $917, 261. But from that
balance there were deducted expenditures called
" extraordinary" amounting to $780, G62. and q
payment on the floating debt of 1915. 2j3, leaving
only $412, 332. The dividend on the stock of Dig
per cent required $4,000, wiioh left surplus
for 1880 of only $37,332. The interest charge on
the company's bonded debt Is pcr cent instead of
per cent hereafter will he $2SO000 greater than it
was in $780, or 500. 000 instead of $4,000, as it
was last year These facts furnish reason why the
Central and Hudson Company should not lie III
haste TO guarantee 5 per cent on the stock OF the
Canada Southern Company, if such proceeding
ever was contemplated. But the following en-
phatc denial Of the report by high ofbca OF each
of the companies should be sufficient to set the mat
ter at rest: d" There is no truth whatever In the
report and there has been nothing OF the kInd
spoken of, or even contemplated. The corporations
being under Governments foreign to each other
would probably dispose of the ma. ter any way"
Nevertheless the report was the principal
fac OF in tho speculation in that stock. and that
stock the principal support to the whole market to-
day.
The telegraph sensation to-day tame, yet tho
prices of their stocks well sustained within
al per cent of yesterdays CLOSING figures. 81 Paul
stock was notably strong rising to 12O7Sd 20. and
the Northwestern shares were firn. especially the
preferred, which advanced to 146l2 The coal
stocks were strong all the way out. although
the report that the restriction On the out
put of coal was rescinded proves to be
untrue 1t was suggested that. on account
of the late bad weather. the output Tor
three DAYS week having been less than il ought to
have been, the companies next week should work
SIX day; but the lack of demand has rendered 1t
unnecessary 10 change the original agreement of
three DAYS work and three DAYS play. The market
generally was b.tter than yesterday. but the deal
ipgs exhibited no little ieverIshnesS aud operators
watched the movements of the principal manipua-
tors with unusual vigilance. Reading rose to 10
ana closed ri G93i. the stock being III condition
where anything can he done with Its price. as Is
shown in the premium when 1t commands
from the few borrowers there of it. New-YOTk,
Ontario and Western particularly active. 43.3OO
shares of 1t selling at from 32l2 10 334O 334' inc
total business OF the day is reported at 5S3230
shares a dec inc from yesterdays report OF $1,000
shares. The market closed generally strong but 1t
was mixed.
Government bonds were dull and hardly as strong
the final bids showing declines of ls per cent each
for the - and per cents Congress- rather tn e
House of Representatives., disposed to defeat
all chances OF reIundng the deJt this year, and II 1t
does it will make great difference in the amount OF
money that will seek other channels for investment.
The idea of Il ,ating a 3 per cent one.year note is
so chmerica tnat its ORR nator will ere long COM
mand premium If his ponds do not. The transac-
tons at the Boards amounted to $1O3. 900. Annexed
are the closing quo atoms: