New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-11-21
CLOSING Prices OF PHILADELPHIA STOOES.
Reported by john IL. DAVIS & Co., II Walls
THURSDAY. Nov. 20-P. y

THURSDAY. Nov. 20-P. VI.
The threads of the local stock speculation picked
up this morning about the points at which they
were dropped at Yesterdays adjournment and for
hour or more the knitting of values made further
satisfactory progress without the dropping of
a stitch After that somehow the speculation got into
tangle and there was general ravcng of all of yeser
days and today early weaving. And yet 80 per cent
of the board room traders, who make up nearly the
whole market and are inclined to be publish"
simply because figures for stocks lower than they
were a year ago and this statement is of OF
the so-caed leaders of the market it is of those
smaller operators who trade for days profit loss.
The great and eventually the ruling factors In the sta
ton sight of by both aud little Spectators
In the plain This stock 10 per cent
20 per cent lower than 1t year ago, and he who
dares TO mention the prices of the shares In 1876
s77 il at voted to be eligible candidate for
Bloomngale. This true year as II s today.
But Notwithstanding all Of that, 1t is the heavy addi
tional captalzaons. the past creation OF debts under
the of construction accounts to pay unearned dy
dends the duplication of railroads through districts that
before more than fully supplied and general dis
trust management that cnrches the cement and
at time iupOverishes the prOpcrty,-it Is these
things which the public have been slow to learn. but
have learnt, that make the stock market and for that
matter great part Of the bond markepurely local in
stitutions. As an example-Central and Hudson.
II lts debt had been kept at about S3o0oo,000 which
was after the completion of the two extra tracks between
Albany and Rochester In 1874 instead Of being increased
to over $50 600 900 aud the dividends the stock
consequence had been only or percent the West Shore
road never would have been built and the question
Central and Hudson In the future any dividend mon
$50 900 900 ~ stock never would have been agitaed
nt central and Hudson has Increased is debt 100000
600 has paid per cent dividends aud The West shore
turd has built and eventually will take its lull
half uf the business. Nickel Plate iund Is another
ample Of unnecessary duplicating The Like shofe com
paiiy owns only majority ~ Its STOCK ~ cost
m TDU ,DOU bat The necessity Ui protecting that Inter
est his added %nJDunO 10 he annual lis charges
~ Lake Shore. Other insihpps Of dup, aiUn might be-
mrnti Ie. h thpl M AhuWn nnd they furnish tina
tpnsuii Why Wall street spetuhtuis aip permitted iu
bnte the siUph market n tn themselves. Merchants shp
ptia an receivers, who snrinps hip Important Hpmpnia
~ atnth spttnlNtiuhs tihpt net huu sr ~ hhf'
CLEARER hlnh ~, hp situation ihah hhtrsNhH NittNls
irnhf haiura ~ Hli events, iink Aip ltefih sln'h
ar.nlalus alone, rtnpp iH snl "nnil" hiil Nlrh wy
du HAT thnN casualty pe siinrfnl nt Alt'l ihp Nlai
hinir uf hiisiht aa ihn ainfh hHlhri tlWN'n
weakened aud Win unlhiimfihhi tfh'l"ha "N'ip
a sinW drrlinr all DAY iais shore shnWa Hnal htNliNr
~ pcs cent Central anu Hudson n = 'h'ah si
NJ Il Mnslrrn inlnn aud iai,kaNhnia ana western
each o. hnrawetrrh ut 30 aud ~ fahl ~ . per cent
i0rk island aud Illinois Central, NEITHER nf Nhfh hie
counted as speculative stocks, were specially weak
Rock Island declined foni lili To lon'aa luh's ana
Illinois central from II Ia ll0A HE market ,osei
| weak al about the lowest hgures.
state bonds were entirely neglected hut there was iu
list OF bidlngs and eagle show oI oncfllss No busi
| ness " as done city bank stocks.
The business Government bonds was limited To sales
VI IA at l22. The market was strons with tho