New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-11-23
CLOSING PRICES OF BOSTON STOCKS.
Boston, Nov. %, 1888.
SPECULATION IN CHAOTIC CONDITION

Thursday, Nov. 22-p. IN.
The stock speculation, what little there is of it.,
continues to be in chaotic condition. The day 5
market results neither gains losses in values
which are significant of anything. We did not
miss our guess of the result of yesterdays trans
actions in to-dsys stock loan market. While
there was no little shifting of loans which counts
for nothing, there was an increased demand to
borrow most of the active stocks which freely
met by Yesterdays buyers of the new contracts.
The interesting and important problem presented
for solution is: Who are the buyers that instead
of demanding the delivery of certificates, are so
willing to extend the contracts and give encourage
ment to the sellers of short stocks?
The market opened strong; it soon yielded to
renewed pressure TO sell short stock; it again
rallied and again yielded to force. The methods
employed to reduce values that we may cover
our 'shorts,'n was more fully eXemplifed by the
rumors that have been current about the semi
annual dividend on the Chicago and Northwestern
stock and yesterday and to-day on the report that
the dividend on the Omaha preferred stock at to-
morrow's meeting either will be reduced or passed
The directors OF the Chicago and Northwestern
Company will tomorrow declare the dividend on
that stock for the six months ending
November 30 There is reason to expect
it will be anything except the usual per cent.
For the first five months of the company fiscal
year ended October 30 its gross earnings were
only Sl46,9 S3 less than for the same term OF
1887. In the year ended June 80. 1888, its
net earnings were 81 300 900 in excess of
per cent dividend on the common stock.
We have no knowledge OF what the dividend
to be declared tomorrow viii be- but any other
change than increase in the usual dividend Will
be the occasion of unfavOrable comment on the
management AS to the Omaha dividend, IT'S
declaration is not due till Christmas week,
payable January 20, 1880. In the year SSI
the company earned sS97,152 in excess OF 8
per cent dividend on its preferred stock. In
the six months ended june 80, $685. Its gross
earnings were 81 9s, 734 less than in the six
months in Ss7, and it paid its regular dividend
of per cent on its preferred stock. In the
three months, July | to September 80, ITS gross
earnings were s49,O75 less than in the same
months of 1887 The starting and circulation
of the story that at to-morrows meeting the
dividend on Omaha preferred either would be
reduced 10 | per cent or passed entirely Only
illustrates the desperate situation IN when the
bearsn find themselves On the surface there
is no reason to suppose that at the usual time
Christmas wcelS-the regular dividend Of per
cent on Omaha preferred stock VIII not De de-
clared. The market closed strong.
WHAT WAS DONE IN BONDS.
The Treasury purchased only s32, $50 per cent
bonds at 100. The rejected offers included As
$50 600 at 1913 and $50. 900 at % 5-6, and LIS
s4Oo. 900 at 100 Is and 81 900 at 1903 IA. In
the local market no business was done, but the
nominal quotations are reported as follows