New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-08-23
CLOSING PRICES OF PHILADELPHIA srocsa
TT WAS A TEMPEST IN A TEAPOT.

wednesday, aug. Up.
A tempest In teapot was the discovery p To-
day that the Chicago and NOrthw stern Railway
Company IL the year ended May 81 sss, in.
creased its bonded debt by the sum Of s6.0is0Oo,
while il constructed only 10 miles of read durn,
the period little less heat on the subject and
a more careful examination Of the compny's re-
port, would have saved temper and perhaps soma
o,oney. It is true that the co1pany's bonded
debt was increased Sc O49 900 and that the mileage
Of its own line was increased only 20 miles. Ba.
its expenditures for construction, additional equip
ment. permanent improvements and enlarg
amounted to si,2li, 006 over and above crediu
IN constructioD account It's balance sheet page
"a of report shows exactly that sum added TO
construction account for the year 10 meet that
expenditure, It IS ued only DInas ons
Payments OF operating" expenses, liked charges
and dividends. The remainder OF tn increase 10
the bonded Indebtedness s4,32l, 600 per cent
extension bonds was issued in eAchang' Tor the
,ame amount Of Fremont Elkhaun and Missouri
River Valley Railroad Companys per cent
bonds, and which constructed Tor tnal eompAhJ
mil, age Of that company now Lbs me average
of miles operated last year was only ,Olo. lac
Fremont, Ekham and NJ ssouri mpan a una
arc k pit separate IRON those OF tne chicago and
Northwestern, although the Who'll capital stocz
of 81 ,966,500 lSl.707 per mile belongs 70 us
Chicago and Northwestern Company.
MOlkE NV Al clONho
The stock market to-day was more active and
the sales exceeded 10000 shares London prices
came lower than last evenings Closing lone
figures and at the opening there was some SYM
Whether or nor, however. the London market was
rugged for effect in Newi ork. prices quickly began
10 improve and the buying at advancing h2ufs
was Of the best character tiIl dqiner sn
followed dulness. The market is not yet broad
enough to continuously MAINTAIN actVIty Iof
five hours 1t is in the dull PERIODS 1ha da aP b6u
lation for lower prices is effective; O-daY; now
ever the advances were well MAINTAINED during
the dull period till the anno4,,ncrmrnt tnai
senator Beck had ptrodueea on rpl,ed STATE,
bonds for the Sinking Fund The board soon soon
had 10 that II was proposed 10 rrpeai lsSs
The Sinking Fund law requires the secretary
each p ySr at the best price he can under an
advertisement inviting Offers for the Slnkng mo
daily purchases Of bonds authorizes such pqr-
chascs with any surplus there may De 10 tno
Treasury and specially prohlhs tir 20 ,Ts
Sinking Fund. Why TIL Senator should a'ltmH.
70 repuliate a part of the contract under wnlca
the bonds originally weFt sofa pSe will be- heard
Of again. II is OF LITTLE importance. Inc mSlnNr-
probation Of the proposal at the stock LNchange
wSf th the attack on the oesu stocks and P
dcjnhia end Reading was conspicuous ne
movement made Just before the clore . pa.
ciosed strong The trunk lines. the Northern
Pacific and Delaware Lackawanna and Western
closed materially higher than opening figures.
and Norfolk and Western preferred made an aa-
vance Of ! "A per cent
WHAT WAS DONE IN BONDS
The Treasury purchased 100000 per cents
at I2s The re 'ectcd offers wer' Is. SO 90" az
I2s "a, 1000 at 1919 and $4,000 at 80 ana
s224 900 las at 100 Is. Ia tue local uSfNes
wall lois oi as sold at % l-2 and LIS AZ
IO7 s4 The closing quotations were as foI'
lows: