New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-29
months s9i9,0s3 s1.21O297 s1,s9s, So
A VAIN STRUGGLE ON THE STOCK EX
CHANGE

CHANGE
Last week witnessed another struggle at the
Stock Exchange The fighting, however, as in
the preceding week, was all on one side with a
result upon the general market much like what
might be expected from the hammering of a stone
wall with an amateurs fist There was another
break in Missouri Pacific, which at one time
marked an extreme decline Of 3-4 per cent
Atchison, Topeka and Santa Fe at the same time
made rapid decline of per cent and the Fitch
burg Railroad passed its dividend. More trouble
was predicted for Boston. and on that New York
and New-England and Union Pacific were at
| tacled in this market. Results: Atchison closed
] 3-S higher than week ago: Missouri Pacific
closed with a final decline of > 5-S; New-Yorlk
and Ncw-England with a final decline of l IL,
and Union Pacific, after having sold up to 81 and
down to 64 rs, closed at 65 IA, only is lower
than a week ago. Northwestern was subjected
to free selling, in anticipation of the issuance of
bear scream attacking the, company's meth
DDS of bookkeeping Before the issue of the
scream the stock sold at 10 81: later it sold at
II 2a111 5-S. In connection with this last-named
movement. yesterday it publicly announced
that the heaviest buyers Of Northwest on Thurs
day gave up the name of broker closely identi-
fled with the bear leaders The statement is
true.
The Tribune of Friday stated that the orders
for the principal selling of that stock on that
day, scattered among the best investment houses,
were traced to the same broker. The sellers of
the stock did not give up their principal The
object of yesterdays announcement WAS to create
the impression that heavy short interest in the
stock was closed on Thursday This is one Of
the innocent tricks Of the Street Fridays stock
loan market showed that the short interest in the
stock was considerably Increased by Thursdays
operations.
As to all The predictions concerning any financial
difficulty III Boston, and the statement published IN
" The Times" that Of threatened trouble
had been bridged over, Boston authorities Of all
degrees make the positive statement, both by
letter and orally TO us that no trouble has been
anticipated and none threatened. There has been
large shrnkage in the value of certain securities
but the bulk of the stocks of the Atchison, tho
rail fhp
strong boxes OF wealthy men who owe no money
In The ease OF fltchburg and Eastern the stocks
cost cost the the principal owners much less
apparent losses sustained have fallen
TO class of people who, having confidence in
the future of the properties, are abuudanty able
TO hold the securities until their antcipatons are
realized. This Boston scare, rs in the preceding
week, resulted in no harm, except TO those who
n recovery from such depression as there had
been early in the week was well in progress at
the close of business Friday night. Saturday
morning the Philade pha and Reading statement
Tor September was made public, and loss
III its net earnings OF 1928. 900 for the month
was made the pretext for an attack upon the
value OF that stock. For the ten months OF the
companys fiscal year it's net earnings are ST. Co.,
900 short OF those for the same months OF the
preceding year. For that decline the strike of
last spring is chargcabe with NJ least 81 800 900
and by the adoption OF the proper and conserya-
tive system of charging the operating expenses and
crediting TO sinking fund certain amount for
every ton OF coai taken from the company mines,
is chargeable S4iOli7 more. But with the losses
from the strike and the system of book
keeping the net earnings of the last ten
months were s,,'3s,sG2: IT. during the remain
ing two months OF the company's year the
net earnings shall be equal only 10
double that Of September it will tall only $500.
600 short of meeting the full interest upon the
third preference income bonds for the year.
The advertisement OF the syndicate Offering
for subscription the now bonds of the Unio9
Pacific Lincoln and Colorado Railroa |, guaranteed
by the Union Pacific yesterday, was inatie the
prctext for an auuck upon the stock of the
Union Pacific. The question -sas .raise6 OF tho