New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-08-20

ten month: w. slao.4es sl75oso Inc. 4o4o
OREGON RAILWAY AND NAVIGATION.
S; ;:sis Ssa. 50
s;' sss%s: 1855 1886 B s
Total income. ~ S5s s2S9ss!s Inc 1850
,seScSS 1o6oS b tee 1000
Total deductions s2,4750Os 50 s57,l5O Dec. sllssl
ssipn. -. .2o2os ass io5 Inc. sao4 400
While the gross earnings Of the Oregon Rail
way and Navigation Company for the year ended
June 30, 1888, were S593,6 67 greater than fol
only sI45,67s because of an increase OF
$4,000 in operating expenses 1t is officially
explained that large part Of the increase in
operating expenses was due to tho fact that the
lessee Of the company made liberal appropriation
for the earnings for improvements which under
former systems of railroad bookkeeping world
have been charged to construction account Yet
notwithstanding those large expenditures after a
payment Of per cent dividends ,pon its stock.
the years profits remaining to the lessee Union
Pacific Oregon Short Line was s93S,!65.
STOCK EXCHANGE MARKETS.
It was dull week at the Stock Exchange, with
aggregate sales of stocks of only ss5, 955 shares
against 1.25o,42s in the preceding week. There
was general decline in prices: ranging from 2 to
per cent-a reaction which following o six weeks
advance might have been regarded as natural il
Its manipulation had not been plainly apparent.
AS it was, advantage was taken of q halt in the
advance and consequent dulness to force lower
range Of values. The decline was not the result
of sales Of long stocks except so far such sales
were made by trading members Of the board. As
early as Monday morning the point was secretly
terest and by the orders Of Mr. Gould. 1t Is hardly
necessary to say here that Mr.. Gould has not al
ways taken into his confidence the small leaders
of the stock speculation. even when he was active
in the market. Mondays market was so we'll
supported by foreign and home orders that no i'm
preston was made upon values. On Tuesday
1-2a1 per cent below its opening figures. On
Wednesday there was full recovery under renewed
and confident purchasing so that the situation for
the raiders began to look desperate. Thursday
however, the attack renewed with
vigor and with boldness that merited such sue
cess as it met with. Then came an avalanche Of
reports of extended damage TO the growing crops
from chinch bugs, from heat and drouth in some
sections and frost and moisture in others. Prices
declined as they might have done under the same
application OF force without the aid Of The crop
rumors, but the market did not scare and speak
ing generally, no long stocks were displaced
while the short interest nnquestionaby was largely
Increased. Western Union declined nc0rly as
much as any stock on the list, but il not pre-
tended that either its wires poles had been
killed by frost or burnt by an August sun.
A point made that Fridays stock loan |
market didn't reflect any enlargement Of the short
interest 1t not necessary that it should |
When raid upon values has been previously |
management.
including tho reports and rumors to be put in
circulation, it is not likely that the parties in
interest would neglect so important a point as
he providing Of O certain amount Of ammunition
n the shape of borrowed stocks so that their
of the first one or two days should
lot be reflected on the loan crowd 1t also IS
nd supply of stocks in. the loan market that
very additional short sale of one hundred shares
{ stock is an equal addition to the loanable sup
ly, until the contract falls into hands DESTROYS
( taking. the certificate up and paying for it or
or speculative purposes demands the stock for
he purpose Of withdrawing from the market.
han those specifically exhibited in the
IAN market, which must be taken into
'nslderation when the extent Of the short inter
c arc not prepared to fully indorsc II. that there
ay be some truth in the idea which has been
ivanced that last weeks raid undertaken
g, OF the old-time short accounts 10 De closed
ithout suffering SO q loss as the then rul-
& prices threatened. To accept the idea ncess-
tatcs large faith in philanthropic dispositions.
e are more inclined to believe that it was mu- ,
al community of interest 10 protect, as far as
ssi6lc, that old bear party who had niagnani- !
ously RETAINED from doing " little nothing
opposition to the bull movement after the fail
o OF their efforts TO check IL at the start The
ovement was too strong then to be resisted,
ID the manner OF their getting out of the way !
prices on several occasions and selling out on :
actions Of la2 per cent. q
One word as TO the crops and their prospects NJ
has been forcshadowed by leading benr organ a
OF rumors OF ruin to the corn crop are 10 be N
'eilcd against stock values The winter wheat
op is assured and harvested and is turning =
+ more favorably than the estimates prom. n
d for 1t. The spring wheat harvesting is r
preaching, and until IL is gathered and secured =
stands exactly the same chances for favorable
unfavorable weather. conditions that it always
IS at this date OF the year. No frost. other
IN that approaching winter FROST now do an
material damage. The corn crop now promises m
exceed 1000. 100000 bushels. Last year il Z,
s less than 400, 000 900 bushels. The grow | +.
crop must take its chances until il ripcns
'ctly the same as has every crop grown before -.
but 1t is impossible, considering the extent @.
territory covered by the present crop imagine an
extensive damage as 10 reduce the crop TO
dimensions OF that OF last year. And yet "a
- is not railroad In the country which dur
the last twelve months has not carried Q e.