New-York tribune., 1882-02-09
LIABILTTIss.

floating debt 81 ,958Os3 s2e77,ss7 Inc. s72I,s,o
The Now York, Lake Erie and Western Railroad
Company in possession of the estate. railroad
leases and prOQel les of the Ere Railway Company
with clean hands june /. 1851, aud fund In tho
hands Of the assessment trustees amounting TO
S3.41G,57S. OF that sum about 500 600 was dis
burscd in London for reconstruction expenses; the
balance, except 8i,S07, with accrued interest, in
all amounting to $3,2s40ll. has since
been paid into the tr'asury of the New
York, Lake Erie and Western Company, and all
except $0.l19 has been expended The surplus
earnings, oven all fixed charges, for each period
named ave been reported as follows Four months
ended September 30. 1878, SS2s $40; year ended
September 80 1870, $l,291,97I: September 30
1880, 81 700. .G20 September 30. 1881, $1.8S7,41s
total for three years and four months, $5,70S, ,O55
In the throe years and four months the sum Of
SO 2Si ,92S has been charged 20 construction
account. OF that sum 81 POI ,i29 was for third
rail and $1.067,054 was for second track.
Yet the result at the end of three years and four
months il that the total amount Of the assessment
fund and all the reported net earnings have been
gxpended and that exclusive Of the amount OF the
dividend declared on the preferred stock for 1881
and the interest on the income bonds for tho Same
year there "A net hOatIn- debt of 81, ,lo0 4S2.
In view of these facts there are few persons who
wall regard he declaration Of the dividend on tho
preferred stock, which swellei the floating debt to
80 677 S17 as prudential act. In this connection
il is worthy of notice that the publication Of the
II nal monthly statements Of the compauy'a busi-
less has been suspended since last September.
In general way tO-day's stock market requires
no further comment or explanation than that tho
early spirit which was impaired TO 1t by that old
aud stale trick of going VI" for yesterdays pur-
chsers of stocks ut the highest figures brokers firms
known to be at times in close alliance with some Of
our heaviest AID richest operators, well
as railway officials of high degrce), was
swamped by sales of stock for the account OF the
very same persons whose counerGets were at
tempted to be pamed OFF on yesterdays buyers.
Early prices were strong and generally higher than
Yesterdays clos nQ figures aid the market was held
well in hand for twO-thr Is of the day. But, as
with poeon at the battle Of Waterloo, tho day
was too long for tho manipnlatOrs. The market
was oyerwel ghted there were no foreign or homo
orders to buy stocks that did not originate
within q select circle, while the orders
to sell from sources that seemed
only too glad TO realize the prices The short inter-
est was reduced to fno point and the average
O orators had arrived at the conclusion that the
next turn Of the card would be for higher figures.
A better condition for decline hardly could be
made TO order When the decline began It was
quick and sharp, so that, notwithstanding partial
rally in the last ten minutes of business, prices
generally closed lower than last evening. The late
verse news from Europe was eagerly selzed upon
"a a reason for the Decline but while that favored
1t. tho ncipient reasons are sta"ed ABOVE
A Quixotc movement in the common
stock of Hannibal and 81. Joseph deserves q
special notice Latterly the stock has been quoted
AT about 94O88; to-day its price was rapidly bid
no from 92 to 40 at which sole was recorded,
and after that other sales amoun ing to 4ioo
shares were reported down 10 9s. No ono IN ths
s ock Exchange believes that there has been gen.
nine transaction in tine stock since last October.
The market closed weak
Government bonds were dull and prices were
rely stea ~; the bids for the 4'2s were on g per
cent. Annexed are the closing quotations: