New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-11-02

AMERICAN COTTON OIL TRUST,

Friday, Nov. l-p III.
Az a meeting of the Board of Trustees OF tne
American Cotton Oil Trust. held on June 20 a'
which the Southern and Western members "oio
nresent the treasurer presented an apPioN
statement of the financial condlnon anu opei""ou
.of the properties of the Trust. 1his
WAS in the nature Of an analysis OF the ouS'n'''
for thu period to May 81, 1889, ana ALSO as
comparison with former years business on
preparatory TO the annual report whion "i
submitted 20 the certificate holders at their an
''oI ,,ootino IN he held after the close OF the
6scaI wear ending August 81, 1889. ). H. fl"si'i'
.ho rrasident said in circular 10 the holders
H.. . Tho statement showed cash WORKING
oanitol of nearly 100000 and accrued prontS
-. .ho ourrent fiscal wear of about S2,oOO,Ooo, vi
o,,or 6 ner cent upon the amount OF OUTSTANDING
oortifcates All the operations for the mohch VI
49,, ond those of some of the distant properue'
sor saveral months were necessarily estlhaUu
In view of the statement OF earnings 'iio
question of the distribution of some poruOh ol Uiio
not nrofts AS a dividend 10 the cefllhcd.c e 20
,yas raised and after general uisou,aIOi 20 -
future business operations IL "oS 49, 80 ,he
aoidod m defer the further CONSIDERATION VI Wy
navncnt of dividends until the next annu"i Ni'''
| ing -, oIders WAS he Id
| 90 dav The report made includes the opcTdtI'oh'
W - +,,oiva months referred to above ana thrcc
| months additional TO August 81, Iooo-to'al ~. ~
teen months For that one year ana "a
the net earnings now are repofteu au ontbS
| on paorlv 81 600 900 less than for tWelNe noh'ho
| ended Nav 81 1889 1t follows II any one chooSc'
to believe both statements that IN tne mr. re-
months ended August 81 the comply 'id rod iUc
abont 81 600. 900 This statement would reuuGe
a. a he cash working capital of nearly
81 ooO. o00,' as of May 81 to nearly
5000. 900; but the statement 1or aug4 1oo
gives the net cash assets at only 81, 6os,l "a
skntSor disrrenancv of nearly" 81 100000 as
| compared with the statement OF June 20. O ON.
| mrnt is unnecessary beyond reference 10 I1c i"o
| ,bat az the time of issue OF tne cTcudI VI
Inc % the certificates of shares in the copartner-
| shin were selling at about 60, ana one OF Ino
trustees was outsppken in PROMISING III ttoo
| and that Today, when the statement lor hilcu ILL.,.
anu is made the shares were selling at ahou'
"a II is hardly possible to believe tha1 poIn
| statements were approximately correct , Onc
million loss in three montnS - "a P ayc earned
| only a. COO coo in the year ended May 81 our
readers may believe either statement lhey pie'o''
but they cannot believe DOM. .o.,.,
WHAT WAS DONE IN STOCKS.
Tho stock market at the Stock Exchange
rocorded dealings in eighty-thrce listed Stocks
acgregating 1920 shares, and III elghI ui,
| Tstods issues aggregating 2O5,2O6 shares; toril
for ALL 372466 Cotton on conI de 49, nt
side of Cotton Oil the unlisted gives I6'oOu
shares for seven issues: against lo',ZOO snares
in eighty-three issues OF the regular narkeO ~
better exposition of the tail wagSing the doc
80 pcvcr was presented The majority OF
The members of the Stock Exchange are disguste.d
with the situation, and talk freely about II
tD,Tard a nressure AGAINST their governors special
p rS" In the general market there were more OIL
irss declines from Yesterdays extreme figures
and Missouri Pacific stock was vigorously attacked
as it could not have been without the cohSeh'
of Mr.. Gould. The price dropped from Il Ia IA
6s I-2a6S "a. We wonder If these permltteSS
attacks on that stock have anything to do witt
a !. dicintcreSted" opDosition 10 the plan OF reOr
eanization of Missouri, Kansas and Texas The
unlisted department is still used in vair
efforts 10 dcmCralize the whole market But L
natural conditions do not suffer sudden change
il is a sowing 10 the wind to reap the whirlwind
,, Prices closed at about the lowest. OF th
day, but they were firm at the declines.
THE DAY IN THE BOND MARKET.
? The Treasury purchased 81 81 800 bonds a pc
: cent slbS3O0 1-2 per CENTS S303,500 a
iO5 IA AZ the Stock Exchange s25, 900 pc
cents sold at 1871 Annexed are the quotations