New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-05-18
REPORTS MADE AT THE EXCHANGE.
Thnrcdnr- Mnr 1 n N

thursday, May Up. m
The Secretary to-day purchased s223,OO bonds
making the total TO date up to 900, 100000. Two
millions Of Is offered at 127 l-2 were rejected
To-days Washington Treasury statement is the
first one which reflects the payment for any part
Of last Fridays $1,000 OO purchase 1t is print
ed in its usual place.
For nearly a month the point has been well
circulated that the forthcoming quarterly state
ment of the Lake Shore and Michigan Southern
Railway would make a sorry showing, and it even
has been asserted that its making was delayed
on account Of its character. Well to-day it was
published and is printed below under Railroad
Earnings" The report is filed with the State
Commissioners two weeks earlier than 1T was last
year Its result shows decrease in the amount
earned for the stock of ss4, 465, and still shows
nearly LEO per cent earned for the quarter. Not
bad showing for the poorest quarter IN the year,
with blizzard ut one end and big strike ut the
other end of the road. In 1882 the net surplus
earned for the stock s4 031 $50 but the quar-
ter January l to March 81 contributed only
sra, s34. In 1856 the net surplus for stock was
s2,164 s55, but the first quarter Of the year con-
tributed only s33S,40S.
The railroad earnings, for the second week Of
May, so far as reported, generally are making more
favorable comparisons than earlier returns. Eight
S596,393 against 81 ,955 for the second week IN
1854 gain Of S145,43s, or 1929 per cent. On
the other hand, st. Paul comes in with loss OF
S36.g7l or about o per cent, which loss the OIL
Gals account for by floods the MISSISSIPPI RIVER
and all tributary streams being much higher THAN
in previous years. delaying traffic etc Proml-
nent in the eight roads showing gains are the
Northern Pacific and Chicago and Atlantic tErles
connecticut, both Of which return nearly % per
cent increase.
and Ohio gold IS offered yesterday by 'DreXeI,
Morgan IL Co. and their associates, IN one day
exceeded S25, 1000, 600; the allotments SEND ABOUT
s4 600, 600 to London and about 900 TO
subscribers in this country. These large subscrlp-
lions to the Baltimore and ONO loan almost ll-
sure the success Of the Philadelphia and leading
bonds which is the last large loan now on the
market
FIGURES A SHADE LOWER
The stock market to-day opened with Irregular
changes and generally shade lower IMAM yes
terdays closing figures But there was an ulet'
marked higher figures before noon The market,
however, was exceedingly dull ST. Paul ana
Richmond and West Point ruled exceptionally
weak but not till after o'clock did their weak
ness exert any influence on the general list Inc
necessities Of the situation in the Richmond ana
West Point contest to indicate the probability
Of "a compromise ticket for directors being agreed
to by the two contcsting parties. Probably neither
side cast vote large enough 10 give the
necessary quorum for meeting OF stockh0lder,
and yet between them they pfODaDly hOld JWo-
thirds Of the stock and now neither party can
sell out its stock TO the other side. drawn
game, with the speculation all TO be gone over
with seems likely TO be the outcome. III this
proves 10 be the solution, there exists an absolute
necessity that the management shall snow the
value Of the property based on actual merits III
the early dealings, Union Pacific, the Northern
Pacifcs Delaware, Lackawanna and Western
Philadelphia and Reading. Lake Shore, Eric, Ore
gon and Transcontinental, Missouri Pacific and
New-Yorll and New England the specially
strong stocks After midday the mornings dull
ness was intensified and business was practically
at a standstll, vet quotations remained firm TIL
near o'clock. The announcement Of the earnings
of the St Paul Company for the second week in
| MAY was the signal for an onslaught on ST. Paul
stock, and. incidentally, on the whole market
The total transactions in St Paul for the day
aggregated $4,000 shares-ln the last hour there
were over 25, 600 shares at 72a7i 14a72 80. That
! the orders 10 sell the stock came from bear
source is beyond question, notwithstanding that
/ q Boston house with bull' proclivites was en-
ployed TO sell some 5000 shares. Out Of the
total business in all stocks. aggregating 70, 700
shares 10000 shares were done in the Inst hour
| This sudden and late activity came out OF dull
ness which was so absolute as TO be painful
Either large part Of the last hours business in
St Paul was matched orders or the large sales OF
| it on a dull market within "a per cent develops
broader market than any ono suspects The
! only earnings any one talked about were those
\ of the St Paul which showed loss, while eight
other companies reported gains averaging over
/ 90 ner cent: the reason for that is that all the
Street trumpetng is on the bear side There
was also much said about n short crop Of wheat.
In this connection 10 Is peculiar 70 note that dur
ing the late selling Of stocks the prices Of wheat
/ declined faster than those OF stocks The morn
| nc's loan market devcloDed further increase in
,he short interest and the DAYS dealings have
! unnuestiOnablv further enlarged H. The market
| closed strong M near the lowest prices
THE DAY IN THE BOND MARKET.
Government bonds were dull but the process
Of marking up quotations for the benefit Of seller
higher for the As and l.2s Annexed are the
| closing quotations: