New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-06-05


Monday, June 4-p. m.
"The gross earnings of the railroads continue
70 be remarkably well maintained.' or SIN
teen companies which have reported for the fourth
week. of Nav, nine show gains and seven snow
losses The nine give an aggregate for the week
of this year of $685. 747, against S62s1Oo Tor the
week of last year-a gain of $685. or 4o'Co
per cent The seven give an aggregate Tor inc
week of this year of s1,163,s11, against
s124I429 for the week of last year-a loss Oh
S776IS, or CPS per cent. 1t IS the St. Ieul
COMPANY, with earnings of SG2s,5OO for the week.
which happens to show loss OF 2vo per cen''
which swells the aggregate OF the seven foauS,
showing losses to q greater amount thah tnAO "a
the nine companies showing gains. 1he assre-
gate earnings Of the whole sixteen railroads was
s2.O07.365 for the fourth week Of May this year.
against 81, s69,537 for the week of 1871 gam
of s227,S2s, or 1918 per cent. Ana YET SUN
"thevs cry: No tonnage and no rates The
figures of officially reported Railroad Earnings
printed below speak for themselves: III
The days stock speculation was lntehsey u ta,
The total transactions aggregated only lO''4oI
shares at the Stock Exchange. But YET thete Mds
a hardening of values at the opening WhICh'
barring some fluctuations was progressive 10 the
close The bear" element betrays tlmldlty. Anu
we'll it may, in view OF the large short interest,"
developed in to-dayS share loan Hiarhet. AHuU
element this morning early secured the clrculauOh
of a report that Saturdays sales OF Lake ShOle
stock down to 90 3-Sa90 IL was Tor account Ci
orders given from the Grand Central Depot; ,
The stock to-day opened up IA at 90 IS and SOLD
to 81 Is: total sales $500 shares against odtur-
days record of 5000 shares at 9la9O s.. .,-oa
| The strength of Union Pacific was a Marker 4
feature of the day. 1t opened up Ia at - l.
and rose to 50 IA. This was particularly annoy
ing TO the bears" and they appealed to Washln z
ton for help three three 90 OK s hour that
there was no possibility of any action on the Union
Pacific pending bill at this session OF Congress-
and those publications the STOCK asah WE sUi
at "a rs Let us consider little II congress
does nothing, the situation OF the O hi93l
Pacific to the Government Will DC exactly
the same as it is now. Inc proposed
LEGISLATION is supposed to be favorable to the com
many. in that it will definitely arrange post
poned settlement of the companys deDt 10 the gov
eminent. Suppose nothing should be done tlii Jhc
maturity of the Government bonds secured Dy d
second mortgage on the Union Paclhc kallroad +,
does any one imagine that IN / $40 the company
will he unable to extend its second mortgage now
%aId nv the Government by a new and greater
issue of bonds to the public and at lower rate Oh
interest than per cent? The present ana Iutu I
value of Union Pacific stock depends upon tne
company's earning capacity ana not OH Ille eAuch-
sion of IFS debt to the United States. One year
ago the stock was selling at 81. Last year lhe
cOmpanys net earnings were equal 70 over . Pc
cent on the stock: in the four months TO April 80
of This wear its net earnings were S3o4OOV great
than in the same time of So7, ana we nn9 our
selves quoting the stock strong at % IS: =
Philadelphia and Reading was another lecture . ~
tho davis dealin rs although the sales OF II amounted
only to &c. 700 shares-half stock. 1t sold mp from
80 rs to GO "a and closed at the top ilgure Inc
syndicate which recently purchased so 0OO ooo
of the Reading new As probably WlIi oner ue
bonds to the public in Europe and America on
wednesday Nothing is known about the price al
which subscriptions will he received, but the rc-
cent sale of sl5 600 600 Canadian Pacific 3 l-2S
ut OK suggests figure approXmatng to that
The only Importance Of the offering to the stock
speculation is in It's fixing minimum value Tor
tbe first nreferred IS which will he given to stock
LoIderS for the assessment Of 20 per cent PAID.
AMONGST the granger stocks Northwestern was
strong at 100 1-2a1 90 IA 1t is expected that
III bo,,r earninr OK equal TO | 0 per cent on both
common and preferred stocks. The market closed
dull and strong.
THE DAY IN THE BOND MARKET.
Government bonds were dull and steady at un-
changed quotations as follows;