New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-21
CLOSING PRICES OF CALIFORNIA sTOCAs.
Ian 22Q
GAINS IN RAILROAD EARNINGS.

FRIDAY, Jan. up VI.
Nine more railroads to-day reported their gross
earnings for the second week in January, making
the total number reported thus far thrty-tour
which give aggregate earnings of $2l994o4,
against So, O04452 in the week Of sS1--a gain OF
1896, OBI, or o. per cent. Out OF the total num-
Der these are only companies which have FAILED
to report gains; in to-lays report Northern Pacific
a loss of 81, 1857, Pittsburg and Western loss OF
$500 and Peoria Evansville and Decatur loss
Of Sl,595. Norfolk and Western gives n gam OF
az 1-2 per cent on the week of 1877, and gain
of lls per cent on the week Of $3.50, and for the
two weeks gain of so per cent on 1884, and
gain Of l OIL per cent on 1886; the mileage now is
only thirtysix. or per cent. greater than IN 1856
FEATURES OF TIE STOCK MA5kET.
Well to-day's stock market proved to be some
thing of a disappointment to point gvcrs ana
point distributors. There was panic nor an
approach to one and Philadelphia and Reading
stock was one of the strongest the list it sold
IA per cent lower than yesterdays lowest price,
and it closed ga higher than yesterdays last
price, and exactly at its figure Of January A. Inc
dealings in it were less than One-hali the amount
OF yesterdays, and its closing figure is Just md
way between yesterdays first and last price.
logical deduction from these simple facts Is that
the attempt to make the liquidation of the " Great
Reading POOL factor for decentralization mas
proved a pitful failure. With the Gould rail-
Mr. Gould does not seem TO protect them ana inc
disposition to boycott all Of ms securities in
GLIDING Western Union is fast becoming fashlona-
bic with all operators who have not use for them
as hammers en- values. They were so used to-day
with an impunity expressive of an AUTHORITATIVE
permission to do anything with. Missouri Paclhc
was marked from "a 81 to 50 3-S, and closed at
SO Is. Manhattan Elevated was sold OF from
90 to SO, closing at 90 with transactions in only
2 600 shares. and Western Union was maIllpu-
lated with more caution between - IL ana ~
closing at - 3-s just at this moment we have
received telegram from j. L. s.; No. 80
broadway, SAYING: Please state in Saturday.
TRIBUNE has Missouri Pacific railroad any floating
dcbt?' We can't do it: we don't know, me
annual report for S57 has not yet been published;
the report for $50 instead of showing any lloat-
ing debt showed net balance OF cash assets OF
100000. The company has been paying I
per cent dividends and all Of It's officials assert
that the company is earning l3al4 per cent Yet
its stock is a football OF bears at the Stock
Exchange at s2aS4, while the per cent stocks
Of other companies in which the public has CON
fdencc are scarce at 90 to lOS: To-day lust
before the close Of business the Missouri ihcllc
station in the boardroom suddenly became the
centre of attraction: specialists from Lake Shore:
! Western Union and other stocks hclpcd 10 MI
mp the space and make noise hut the principal
busincss Of the new attendants seemed To be TO
create confusion and knock off hats. till locker
on suggested that the same commission was PAID
for SMASHING hats as for working stocks IL is
more probable. however, that the boys had De,
come fatigucd with the days farce and concluded
TO clean il ont
SOME POINTS ABOUT READING.
! Touching the Reading strike there are few points
| worth having record Except in the transpOra
tian of coal the Reading railroad operations are
| going on just as usual The company is not
| mining coal paying for its mining, therefore
the coal remaining in the ground is costing the
! company nothing; The company is doing ITS " dead
work" all at once instead Of in patches as il does
| ordinarily at this dull season of the year The
| other coal companies to keep up with the vacuum
/ caused by Readings st0ppagc arc ncglcctng their
/ usual seasonabc dead work or rather poStponlng
! H. TO "A more convenient time. Now suppose the
! Reading strikc should end February il is prOba-
| bile that by March its output Will be equal Tor
| the period from January | TO February 2S that II
would have been if there had been no strike during
! January When the strike does end. the other
! companies must partially close down in order to
! nut in their delayed dead work. This is not the
/ first strike that coal companies have met with:
! but the rule of compensation has never failed
/ old operators in the Street will testify that few
/ persons ever liGlIdatcd " long stock or sold
short on "A strike after it began who recovered
their stock except at higher figures than those at
I which they sold. ScalpcrS possibly may, but
/ operators never
The general market was feverish and moved
irrcrllary, and was subject to frequent attacks ::
| ST. paml rs a typical stock was made TO sell IA
! lower than Yesterdays lowest, but it closed IA
| hirhcr than Yesterdays last price; Northwestern
| was sold down IL to ! OF "a, but it closed at
! I0a 10 All the Pacifcs and Oregons once or
twice looked weak but they recovered to or better
| than Yesterdays last prices. The market how
| ever Is still little more than traders market,
| bnt the seeming entire failure OF the bears TO
make any material depression in the general list
indicates further absorption OF stocks since the
new year came in. The market closed strong.
WHAT WAS DONE IN BONDS.
Government bonds were dull and easy with the
bids of IA for the As and Is for the les.
Annexed are the closing quotations.
Bid ASH ,ao. 70 ;n5 Asa