New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-05-19
CLOSING PRICES OF CALIFORNIA STOCKS.
San Francisco. May lS. 1883.
INCREASED RAILROAD EARNINGS.


The offerings of United States bonds to the
Treasury to-day aggregated $5,360,2oo. Inc sec
rotary accepted s5,2s3,250 of which s2s5'loo
were per cents at 127 and s., 0,lOO were 4 IL
DER cents at 1Os. This brings the total purchases
M to s269l2 ,OOO The Washington Treasury
statement to-day further reflects payments for the
$1,000 600 purchases Of last Friday, Dut IL docs
not yet all of such payments.
Nineteen railroads now have reported their gross
earnings for the second week Of May Fifteen OF
them which return gains on the week of 1887
give an aggregate Of 81, 6,547 against s99S,595
in the week Of 1871 gain Of 1852, or 2l.9
per cent; and the other four companies give an
aggregate of S493O49, against s546,502 in the
week of 1874 loss of S5o,459, or 9.S per cent.
And yet it is four companies showing the losses
which in wall Street News" are given the
prominence. What a profit there would DO IN
selling the Wall Street gossips at their own valua-
tion and buying them back at the public valuation
The trade, however, cannot be made-the buyer
is lacking.
To-day's stock market was largely devoted to
a few special stocks. The bears" continued to
put in their heavy work on ST. Paul stock, which
they tried to cover up in the remainder OF the
market. In St Paul the recorded transactions
aggregated 10000 shares, and after being sold
down to 20 3-S, it closed at II, or 3-8 per cent
lower than yesterday Rumors were current OF
an intended issue by the company Of additional
preferred stock. According 10 the word OF Vice
President Bond all such statements are absolutely
false; such proposition has been made, and
therefore not entertained, and there is no reason
why the company should even think of doing such
a thing. We have not at any time had much
to say favorable to the st. Paul Company,
but the present price. of its common
stock-7l-seems to have discounted considerable
more than the unfavorable development since
Mr. Armour was issuing hourly bulletins
on its value at 90. The craze to sell st. Paul
little question that the existing outstanding
short interest is fully double the actual capital
stock Who has bought this excessive captaliza-
ton is mystery who mas sod n Is wei KNOWN Dnd
seemingly unsettled in the early business, later
cut adrift from the St Paul operations and
moved upward regardless of its apparent weak,
ness. Philadelphia and Reading closed 7;S
per cent higher than last night. There is little
doubt that a few days will bring the announce
ment that the company's loan has been taken in
at 54a53 "a but it closed strong at "a 3-S.
Poor old Erie, which, because Of advancing cash
to the Chicago and Atlantic Company for which
it will secure first mortgage bonds, was said to
be on the broad road to ruin, was strong all the
way out More nonsense and lies have been cir
culated about this company lately than probably
any other company ever before was called upon
to bear The piper is yet to be paid, and the
shorts in its second 6s stand first-rate chance
to become the payer if their purse Is long enough
The so-called floating debt of the Erie Company
represents neither the payment OF unearned diyl-
bends nor interest but Of investments which If
20 per cent increase in the earnings Of Chicago
and Atlantic Railroad has any significance
will prove highly remunerstlve. Inc market
closed quiet and strong in tone and IN figures
WHAT WAS DONE IN BONDS.
Government bonds were dull with the bids for
the As advanced 3-S per cent Annexed are the
closing quotations: