New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-22
Total II Co.'S s15 1872 s35 SIS O9sO22 Dec s65isl3 43
A DISTURBED STOCK MARKET.


It looks as if all the efforts to deprcss values
at the Stock Exchange were doomed TO failure.
Certainly the strenuous efforts to accomplish such
a result last week met with no success. And
consequently the great " bear organ this morn
ing sends forth ptiful wall OF woe ana dis
appointment Never did the bear contingent
put in harder seven hours wOrk-from an. to
3 p. m.-than they did last Friday. The leaders
PROMPTLY on hand ut the early hour named
and their hcnchmcn, with coats OF, worked the
literary bureau without rest The supposed spe-
cial opportunity for the accomplishment OF general
decentralization was sharp decline In Boston Tor
Atchison, Topeka and Sante tc stock Inc eX,
IRENE decline i'll that stock amounted to / IL
per cent, but it was served up IN two editions
The first one occurred on Monday and Tuesday
when the stock dropped to 81; and from that
there was sharp rally of per cent, followed
by steadiness, till on Friday the second edition
was issued with a decline to 81 There is evl-
carried out by New-York spectators, and that
aside from some small amounts OF hOatlng stock
there was little done beyond washing down
of the figures, accompanied OF course, by more
resented to be in pitiful condition, and rumors
of financial difficulties in Boston were spread
broadcast.
tail to the falling Atchson kite and did what
little duty it was able. to do in aiding general
decentralization. Singularly enough there was an
opportune dispatch from Topeka giving the Mis-
souri, Pacific Companys report made to the State
of Kansas, which under the laws of that State IS
that company. Following the raid of Tuesday
there was sharp recovery and advances made
for all of the active stocks. The first raid made
on Tuesday was more effective IN itS temporary ~
Friday, although on Friday the prices of Atchson
and Missouri Pacific went and l-2 per cent
lower than they did on Tuesday.
There is question but that the bears are
making desperate efforts to recoup their stocks
before the results OF the election are known.
The use of the Atchson and Missouri Pacific hay-
i'm fotl pata
the general situation, it is now written APP
prehension is now felt for what may be coming
in Chicago Burngson and o r Inc ne, P price
dividends the company is paying and confesseuly
not earning Ii may be added that If 1T was
believed in any well-informed quarters that the
Burlington and Quincy was expected In the future
TO earn and pay only 4 per cent dividends, the
" bears would have less Difficulty than they 90
in depressing its value. 1t is selling at the cur
rent price instead of at its former fgure-l5O-
because of the Acknowledgement OF the last Twelve
months, and not because of any lack of business,
although its lines have been so largely extended
Unles, for a series of years the Burlington and
Quincy's annual reports have been Systematically
fasifed. the company holds in its treasury, cred
tied TO its income and renewal account,
S25, 100000, sum sufficient to pay
per cent per annum dividends on
its stock for four years, if during
that period it only earned an amount equal to ITS
first charges. But every one knows that the
situation between the railroads in the west has
undergone mar 1ed improvement during the laSt
few months, and that the Improvement is still
continuing Burlington and Quincys loss IN net
earnings for the month OF August was only
1851 900, while for the eight months its loss was
So, 100000. The same Improvement In later
months is observable in all the Western roads.
The Rock Islands loss in the months OF April,
May and June was only S24, 033, while for the SIX
months it was s559,S3S, all Of which, excepting
SPA O33, went into its last annual report for the
year ended March 81.
So it is easily seen why the reports that the
Rock Island dividend for the last quarter would
be reduced were entirely without any foundation
of facts Perhaps the temporary effect of Fridays
severe attack was averted by the strength devel-
oped in Missouri Pacific That stock was largely
purchased, and rose from the extreme decline to
81 on Tuesday to sc 1-2 But the purchases were
not made by any clique combination for the
were made by insiders who, possessing accurate
knowledge of the companys condition and its bust
ness, believed that the payment OF dlyldendS Will
be resumed with the new year, irrespective OF any
action by Congress. The supposition that the
company cannot pay dividends until the proposed
Funding bill has become law is a misapprehen-
sion. It has not paid dividends during the last
do So nor because any existing law restrained II
from doing so, but because it has been the policy
of the mana cement to pursue conservative course
and place the company in strong financial posi-
ton before resumption. OF the general list 1t
is only necessary to repeat that without any or
ganized resistance, without the support OF cllgucS
end combinations such rs formerly existed in Wall
Street. it rcpuses unusually severe attacks without
anything more than temporary reactions in values
Subioined is our usual table, giving the number
OF shares sold OF all stocks. the highest, lowest
and final prices of the week, together with the
final prices of a week ago. prehxed by the average
prices of October %, 1887: