New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-12-30
WEDNESDAY, Dec. 29-P. NJ.

WEDNESDAY,, Dec 29-P NJ
With the usual promptness Of the new management
the operations Of the NewYork Lake Erie and western
Railroad for November were published yesterday Che
report for Ocober published November 27) The net
result shows gain upon November. 1888, OF $2464I,
but it should be remembered that November, 1889. gave
"A gain the preceding year OF $l22,0OO FOR the TWO
months Of the companys fiscal year, beginning with
October I, this year shows gain on the preceding
year of Sl2s,o44, and on 1884 gain Of 100000. 1t
should mind that in the last year. ended Sep
TENDER 80, 1885, the company earned small surplus
over all its first charges hence any gains made upon last
year contrbutory dividends upon the stocks con-
tnuous gain for the next ten months, proporuoha'e W
the gain Of last two months will give surplus OF
nearly $500 OOO 100000 than Is sufficient 10
pay dividend the preferred stock We do not Intend
TO intimate that II the results are not better
than the above figures the company will declare
any dividend on It's preferred stock, because we
believe the policy OF the management TO be nrst
to place property In such condition that II may De
operated In the future at minimum OF expense and
seco, to make ITS bonds second In credit to none
on the list The usual three years comparisons are
printed under Railroad Earnings"
For a second day the Newiork stock market has been
compelled TO stand alone, without " the support OF
London" And Wall Street does not seem
TO be greatly crippled" by the ordeal The
news agencies displayed unusual enterprise
I'm publishing Londons last evenings quotations and call
special
last evening from q per cent to per cent below
the eou,vaens OF last evenings figures here The method
of reporting unusual and in some few in
stances did deceive local operators VINO supposed ey
were rearing instead or last evening
London quotations II Is charity to suppose that the
agencies thought they giving an important
piece Of information, but Outside OF the ofn"es
Of the agencies there was not an once
boy in Wall Street who did not know that London yester
dav did not receive a single quotation from NewYork
xth.a al nnfE
terday's-aI day-London prices were made and gov
erned by the raid figures of Mondays Newfork market
There was 10 panic in London yesterday In American Sc
curities prices at the opening simply adapted'them
selves 10 Mondays NewYork closing quotations, and as
we are informed stocks afterward were dull in the all
sence of further from America. We also are In
formed that the report printed this morning
tbat money I'm London was 10 per cent is an
error The highest rate at the London Stock
Exchange for carrying stocks till next settling day was
per cent per At the November settlement IL
ranged per cent to s per cent The money market,
however was firm and rates for discount in the open
market for bankers bills advanced to 49 per cent
or 10 uer cent below the Bank OF England rate. Our
market this morning Immediately after the opening was
somewhat unsettled by disturbing reports concerning
the condition of affairs in London. In the first fifteen
minutes prices declined In instances IA much as
ner cent but that decline more the effect OF a
:" bear" raid made to give color to the reports
referred than to the selling OF long "
stocks The depressing expended itself Then
the effect of only moderate sized orders 10 purchase and
The attempt to cover short" stocks started upward
movement which did not cease TIL the advances generally
were measured by units and not fractions Toward the
close there was realizing the sharp advances OF
the day and prices yielded small fractions but the market
closed strong and conident - 80 $3.50
Government bonds were dull but while the bids for
the 81 were off Il per cent, the bids for the is
were advanced 80 per cent The decline In the IS was due
10 resumption Of bond calls by the Treasury the advance
for the Is does not reflect AN Increased demand
ply an absence offerings. which permits the large bond
dealers 10 make the nominal quotations The bids for the
currency 6s were rregulary changed. Annexed are the
closing quotations: