New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-25
CLOSING PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.

The exports of merchandise from the port OF
New-Yorl last week are reported at s7,3%%,233,
against s6773,5T for the week OF 1888 ana
s6997163 for the week of 1887. And the port
of New-Yor at this time does not reflect its usual
proportion Of exports because oil the unusually
large movement of Texas corn through the port
of New-Orleans. The exports from this port SINCE
January 1889, have amounted to $3.50. 4Io6o'
against s2l 2,04O,2S0 for the same time IN 1883
The Chicago, Burlington and Northern Railway
At the highest rates for freight that nave rueu
during the last three years, this company, en-
nlovcd lid TO it's full capacity could not earn more
than $500. 900 per month And yet no road IN
the whole country has received the One-hundredth
part of free advertising which the managers of
the Burlington and Quincy have secured for this
one-borse concern Of theirs The special Wall
Street bear organ makes silly blunder in its
efforts to help It's supporters, in asserting that the
Burlington and Northern was built in the interest
of the Burlington and Quincy, to protect 1t from
the aggressiveness of its Northern neighbors, ana
that 1t is doing the work for which 1t was created
The Tribune printed this twelvemonth ago, Wnen
H. was questionable to speak Of the Burlington
and Quincy mana cement except in terms of high
respect The point now, however, is that eX-
cept for the Burlington and Northern-whch no
longer has any special interest to protect-there
would be perfect peace between all the western,
Northwestern and Southwestern railroads. The
connecting link between the man and the monkey
here is revealed by the fact that the stock of
the Burlington and Quincy is the strongest IN the
market OF all the Granger stocks.
But for day or two the market has been
relieved of reports of the wonderful
generalization which the Burlington and
Northern would make, and its purpose to take
all the business between Chicago and st.
Paul at any cost to its bondholders, of which
the Burlington and Quincy is one, and obliged
to buy 100000 each year.
To-day the bear point, was money; Inc
money market at the Stock Exchange ordinarily
opens at about l o'clock, but to-day 1T was
Opened (?) at 1890 o'clock, and by ii o'clock
Was quoted per cent bid. Loans were made'at
the highest rate, but from the time-l O'Clock
when lenders generally begin TO come into the
market the rate gradually declined from q per
cent to l-2 per cent, between which hgufes
the bulk of the business was done, and AFTER
z ppr cent 1t is little less than farc1cal TINT
there can be a fuctuation of per cent in money
rates in day. The statement of the faet that
unusually early hour money opened AZ per
cent and rose TO per cent, and then Declined
TO per cent during the usual hours When
lenders and borrowers come together, ana tnat
at the close large amounts OF money were seeltns
employment at the lowest rate, not only shows
manipulation, but exposes It's weakness IN not
being able 10 hold the early rate sl1gle minute
beyond the hour when legitimate lenders usually
n NAV be possible that the reason this tire
mendous effort 10 create money scare
had so ltte effect s on s'I {bs T nrnn5
manipulators Of t were in the market as buyers.
But that idea is not warranted by careful o.
seryation Of the market. On the contrary, the
surface indications lead 10 the opinion that the
davis transactions have increased the volume OF
short" contracts BE that as 1t may, there were
no significant fluctuations or changes. Reai
holders Of stocks were not sellers and the pro-
fessonal element in the speculation, when Is, as
il has been, entirely interested ON the snort
side made no progress toward nquldatlon'
They have only their own contracts TO buy back
The Oregon Railway and Navigation Company
is about TO issue q call for stockholders meet
ing on October Z, for the purpose OF acting on
a proposed modification of the lease to the Oregon
Short Line Railway. 1t is proposed to change the
lease so as TO permit expenditures for better
ments, additional equipments, etc" TO be chargtd
To- construction and be covered by issue OF oregon
operating expenses. thus relieving the oregon
Short Line Of deficiencies IN rentals IN years wheh
the net earnings under tha old method do not
meet the rental. The dividend on Oregon Rail
yav and Navigation is TO remain at per cent.
Az the Union Pacific holds 10000 shares and
under contract with the Oregon Transcontinental
60 600 shares more-total 100 600 OF oregon
Railway and Navigation stoc<-of course, their Is
no doubt of the proposition being carried ms,
while il will dispose of the doubts OF Oregon
/ Railway and Navigation being 9 per cent stock,
at once will place the Oregon Short Line on a
dividend basis
THE DAY IN THE BOND MARKET
! The Treasury purchased ss5,950 bonds: $4,000
| A uer cents at rs and S33. 900 l-2 per cents
at lO5 IA At the Stock Exchange there were
sales of sr0 900 per cents registered AZ O6 Is,
| or Ia per cent below the Treasury figures. The
| ssaA candidate evidently docs not want ac