New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-09-03

gates and differences of the companies showing
., m..r, ~ GROSS EARNINGS. n,.
= + 7SS5s 4Si5f BEE ss '' 5S$Si 81
Total GO cos S&H r itI.is Inc '''' 0' 7''
IS IS G.: ssSSiS ' ssjS IS bee bee
Total, 81 co.'s 81 $4,000 1888 800 Dec s28Ol7- o8i
Below is printed the official quarterly report Of
the New-York, Lake Ere and Western Railroad
Company 1t shows the surplus earnings for
the quarter to have been Si36,9l3 or nearly 6
per cent upon the amount of outstanding pre-
ferred stock. For the nine months of the COM
panys fiscal year its surplus earnings have
amounted to s66o656: adding to tins 81 80, 900
for the surplus of the mouth of August, gives the
surplus for ten months in round figures $780,
600, or over 100000 more than the sum re-
Qured upon its preferred stock.
STOCK SPECULATION STILL DULL
The movements Of the stock market last week
were so entarelv In accord with the causes which
so frequently have been indicated IN this column
that there is scarcely opportunity for comment
ht the bS e sc Sn Ss
actions aggregated only l,oS5,0s5 shares for
the whole week That despite of dulness. the
py Ike Sfes T II e all 5s S Rns
The advances made generally were not Large,
but their significance. was elnphdsized by several
speculative attempts to record lower figures. Inc
temporarily reduce some fractions, or, perhaps,
even more than l Der cent but last week. as In
preceding weeks. all such efforts left the market
in a stronger position than IL was before. The
the coaers, Delaware, Lackawana and Western
in particular The immediate cause o. the adj
vance OF per cent in the stock mentioned was
the covering Of q few shorts" The stories OF
buying by the Vanderbts or The younger Goulds
are too absurd to require further notice than the
remark that the street appreciated them at their
stories bear" point The buyers OF Della
ware, Lackawana and Western, as Of other stocks,
been in progress for a long time, and probably
were less during last week than they had been
during the time when the stock ruled below "a
1t is the effect of these large public absorptons
which have been slow and never aggressive
that has disconnected the " bear" speculation
which had come to fancy itself all
TVS It is because operators refuse to rcaiizc
the true situatinn-the extent OF public buying
of an investment character which has been gong
that hears every day on every side ex-
prcssiOns of wonder at the strength Of the market
when il yet is dull
The Union and the Northern Pacfcs also de-
veloped marked strength through the week. and all
of them made and maintained material advances
The movement in the Northern Pacific and us
allied companies was largely Of speculative char
acter. while that in Union Pacific partook more
Of the character of the general market. and It's
advances responsive to natural and not specu-
lative causes. The Union Pacific for the current
year probably will earn over per cent upon ITS
stock and have in its treasury the results of such
earnings. The Northern Pacific is showing phe-
nomenal gains in its gross earnings but with those
large gains continued, ii Will earn only small
amount for it's preferred stock The recent specula-
ton in the stocks of the company seems to be based
more upon the newly developed borrowing ability OF
the company rather than upon its earnings The
indications still are that when sDeculators shall
want to make large purchases Of stocks either TO
cover outstanding short contracts or to bull the
market they will have TO look elsewhere than TO
Street holders for their supplies.
Subjoined is our usual table, giving the number
of shares sold of all stocks, the highest, lowest
final prices Of a week ago, prefxed by the average
prices Of September 3. 1887: