New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-12-29
THE ERIE STATEMENT FOR NOVEMBER
Friday, Dec. esp. m.

Trlu3J, Zee. SS--p IN.
The New-Ycrk, Lake Fri, and Western state.
ment for the month OF November printed below
reflects in its gross earnings the effect of tho
New-York Central and Hudsons reduction In
Western bound freight rates made on
November IL. The loss in gross earn
ipes for the month is $4,000. But tho
statement in showing reduction Of si29,50o
in the operating expenses reflects more i'm
portant feature: the economy IN working,
which the last three years extraordinary expcndi-
tures have made possible OF the loss enforced
bv the action Of the New-YorlS Central and Hud-
son. 500. 600 falls to the leased Western lines.
Yesterdays new bear combination made little
headway to-day. On an average to-day's closing
figures are little changed from yesterdays Some
are higher and some are lower; but not 70 the
extent of | per cent on either side. The stock
loan market this morning developed. as was ahocs'
pated, an increase in the amount Of the short
interest IL was only question OF rates; the
demand for renewals and for new loans was
all there. or course with the existing uncer-
tain sentiment regarding the money market over
the New Year the bears" had the advantage IN
making of rates and they naturally used ".
The market opened lower than last evening
closing prices but London and other good Duy1ng
quickly retored values and then tne msrHeo 70
NAMED dull all the day. Till late hour the
money market this being Friday ana nlgn Gay
for money at the Stock Exchange, was D gnea n
Would-be BUYERS thought that perhaps tigne
money market late in the day wouh induce
some selling at lower prices. In addiuoh rnofts
were made unfavorably to criticise the acuoh =.
the Vanderbilt roads yesterday In declaring tiie
dividends they did, with less earnings tnan ~
1887 The dividends declared are warranted warranted
by the business OF the year, In wn en- rphrIs'
disregard Of business methods has been the rule.
With reformation accomplished, which year
ago was not in sight and the prospects,
Of a larger business than ever before, 10
he conducted on business principles, the manage
ments would have been justified In dlVio,ng 'ue
SURPRISES of the two preceding years; Noo 70
do so was a conservatism that was UNKNOWN !"
railway management ten years ago a.,
The feature Of the days speculation was tne
late drive at Philadelphia and Reading JOCK
and second income bonds. story came from
somewhere and obtained general circulaton LIZ LII
show loss of $500, 900. We have no Information
on which either to confirm or deny the report
But probably the authority for the report was
aware OF the fact that there IS no deHy
in making the monthly statement; that the
month of November ends the companys
fiscal year; that it has not been
the custom Of the company TO make statements !
November till The annual report Is lssueu anu
that therefore TIL the middle Of January the
guess Of the amount Of earnings is safe Morgan.
In the eleven months TO October 81 the conn
pany's net earnings were sseO9Osl u III W.
vemher they prove 10 be 100000 instead Oh
81 400. 600 in November, 1897, the net for INC
wear will be s10,O0O,000, which sum Is ahouo
equal to the payment OF all first charges, includ-
ing the third incomes. And this IN year wen
its loss by strikes exceeded $1,000 600. Notwlthi
standing the late raid on the lHadlngs, the mars
let closed strong, although quiet.
THE DAY IN THE BOND MARKET.
Governments bonds were dull with recorded
transactions at figures higher than those of the
Treasury Annexed are the closing quotations: