New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-07-02

"a companies sc. 1885, O3 s7O3O oo5 Inc S-Soao'
The aggregates Of the ten companies showing
losses are swollen by the large figures OF the
Pennsylvania and Philadelphia and Reading com
panies, which each show insignificant losses
The Central and Hudsons estimated statement
for the quarter ended June 80, published In TINS
mornings TRIBUNE, unquestlonaby Will eHcII
much unfavorable comment. For the quarter
It's earnings were deficient of the sum required 10
nav rcr cent dividend 81 6j, 945, against sur
plus for the corresponding quarter OF 1881 OF
s4269sO The operating expenses for the last
quarter set down as s43000V greater tan h iul
the quarter Of 1887. and S950,00O greater thah
for the quarter of SS6. For the nine months
ended June 80. the estimate gives the surplus
over per cent dividends paid as s3Sl - aga ai
$500 or for the nine months OF the preceding
year and SEA 664 for the nine months ehueu
June 30, $50. The operating expenses 1or the
last nine months are estimated 81, aOQoou grea,cr
than for the same nine months OF the preceuins
year and "a, 100000 greater than Tor the nine
months ended June 80, 1886. An explanatory
note ascribes the increase In operating eApg ;
for the last year 70 the extraordinary eXpendlture
of about 81 100000 for renewals arc auuiIlonS
and engagements and betterments. This xtraor-
binary expenditure is equal to per cent upon
the stock When the Central and Hudson Com
pany was raying per cent dlVllends. thls cIar-
acter OF expenditure was charged TO construction
account and each year there was an auutlon ~ ~
the bonded Indebtedness equal to such eXpcndl-
tures II may well be questioned II the company
new method of bookkeeping does not err paftlaIiy
toward making poor showing as IL IoIlner y,
did toward q brilliant exhibit at the expense OF
lis capital account. At all events the Stock
holders of the company may now ne connu zen.
that the expenditure necessary 10 make eoou paso
neplects is fast approaching an end Us III already
has done with the Erie Company
STOCKS DULLER THAN EVER
Tho stock speculation Of last week practically
,-os n. n standstill The total recorded transac
tions at the Stock Exchange aggregated only
SOC 6sI shares. Such movements in prices as
tbere were were entirely the result OF local trad
inc between professionals. The influences brought
IN bear upon that local speculation were all OF q
bearsh character-a repetition or oit-told stories
which il is not necessary TO repeat Inc EFFORTS Oh
tho leading professionals now seem 70 De more
directed toward causing stagnatlon than toward
depression Of prices. Of course the hoPe enter
tanned by them is that by such method they VIII
tire holders of securieties out ana otng te G
week were not unlike those OF the preceding
week A lively apparent pressure 10 sen , slocks
carly in the week caused decline, ana lol0"Ing
that there was recovery that was as Iull anu
ranid as the prevailing dulness would permit Inc
operators followed prices down hill with some
rapidity and climbed up again with less impetus
resulting in little or no change IN me sTuu{ w
prices While there has been some lustlncauoI
Tor the large declines that have already occurred
in the prices Of certain stocks because OF Ile ms
mana cement by the officers Of certain railroads,
tbe average condtionsas reelected by the staslstlcs
printed above, show that there has been no otner
reason than fright for the general declne wIh 81,
has followed n few leaders. II Is now admitted Dy
fhe nessimists themselves that the predictions OF
duli trade were premature but they now CAIN
that il was only question OF time ana that WhhI
thew expected earlier has now come TO pass Dull
ness hardly ever failed to put in its appearance at
As 20 the outlook Tor the future,
Imn,s Mercantile Agency, which during the first
six months of the year has been disposed to take
rather gloomy view of conditions, makes resume
OF IT'S rexiew Of trade received from It's agents
all over the country and which il prints in detail
that is remarkably promising. The resume says
" The information here presented has Deen CLEANED
most carefully by representatives at these
points, after consultation with prominent parties
In each locality 1t is clear from a perusal OF
these reports that the business Of the country Is
being very slightly affected by the Presidential
and that taken as a whole the outlook
is most encouraging The crop prospects during
the last three weeks have improved immensely
and il now seems clear that the loss OF winter
wheat will be made good by the spring wheat, wheat
crop. and that corn and oats have been largely
planted on the land where wheat was winter
killed But while these conditions are likely TO
prove important factors later in the season, what
the Stock Exchange Immediately requires Is a
tonic or "a stimulant OF some kind, which VIII re-
lieve it's members Of the chronic depression with
which they are stricken, so that when client