New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-12-07
CLOSING PRICES OF PHILADELPHIA STOCKS.
TIE STOCK MARKET SEE-SAW.
Thursday, Dec. g. D.

lnufSudy, Dec. b. D. III.
To-days stock market fails to reflect any
widening Of the speculation. 1t is the same old
Sec-saw operation between local traders with the
unobserved, quiet absorption of stocks. The
speculative sentiment is as bcarishy" inclined
ever and any advances in prices are regarded
simple rallies encouraging to new sales for the
" short account Nevertheless, there is to dis
interested Observers an apparent under-stratum
OF strength which is not derived from the opera
tions Of spectators 1t comes from purchasing
orders through some of the best firms in the
street, which buy stocks only on orders accom-
panied with checks for the full amount of pur-
chase money.
Alter to-day's early opening at higher figures
there followed period OF depression in which the
Delaware. Lackawanna and Western and Philadel-
Ihia and Reading stocks were conspicuous A glance
at our General List taking in the opening low
est CHEST and closing prices OF those stocks viii tell
the reader the character of the early decline The
prices were washed down with benefit to the
bears who did it, small efforts to buy after
the lowest prices were recorded resulted in leaving
tnem at the close II and 5-o per cent higher
than last evening.
The old grangerS were sold off vigorously only
TO recover TO figures from to "a per cent
higher Than last evenings closing quo
tauons. Amongst the SOuthwesterns, Atchison,
Topeka and Santa Fe marks gain OF
per cent, ana Missouri racine gain OIL s Ia
per cent. The disposition OF the Street. as it was
expressed III general conversation was to make
light OF the Missouri Pacific directors action yes
tcrday IN ordering an advance OF rates. ana II
common in certain " bear circles to hear
expressions like: Poor George Gould, Uncle Sam
sal down on him" Nevertheless Mr. Sloans
strong and effective language was not 10 the
liking OF those who We're short OF Missouri
Pacific. burlington and Quincy closed "a
higher than last evening, although It's report Tor
October, showing a gain of only sl5,6 2l in net
earnings over October. 1887. was not favorable
exhibit. Northwestern was sold oil TO 1903 5-S,
but it closed at lO4 1-S The company could run
behind last year 81 10000 per month III It's net
earnings, and yet for the year TO end May 81
earn Us full usual dividends. but from December
l to May 81 its net earnings probably will show
gain every month over last year.
Union Pacific was strong all the way out. On
the publication OF its October statement showing
Il decline of S264 900 from the net of October,
Ss7 this stock was mldcd from 81 5-S down
TO 81 rs, but it rallied and closed at 81 IS.
The net result is nearly $4,000 better than we
a week ago minated 1t would be. In October,
1887, the operating expenses were only 46 per
cent. and therefore the net was rolled up to the
phenomenal figures of Sl.56l.02O. The statement
for October. 1888, shows an increase of 81 &, 7oo
in the gross earnings, but the operating expenses
are made up at over 80 per cent, and therefore
tie net was only Sl.296.s1O. In the ten months
ended October 81 the company net earnings are
s9,41S, 1903, which, after crcditing income from
other sources" is 81 100000 III excess of "a
full years first charges, with two months net
earning, I, be added. which in SS7 amounted to
The stock loan market reflected considerable
shifting OF loans, but IN the aggregate left the
short interest fully as large it ycstcr-
day To-day there probably has been some liqui-
dation of contracts on both Sides The market
closed quiet and strong
WHAT WAS DONE IN BONDS.
The Treasury to-day purchased S50S, 700 4 per
cents at Os. The rejected offers included As,
s2.4j0 at 1885, $4,000 at 12o 3-S $50 0CO at
I2o "a and 1-2s, 81 ZOO at los l-S The local
market was dull and steady at quotations as fol
lows