New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-12
CLOSING PRICES OF CALIFORNIA STOCKS
San Francisco, Jan. IL, 1889
WHAT WAS DONE IN STOCKS.


The speculative situation az the Stcck Ex-
change. being generally locked up on the snort
side. warrants the expectation that desperate
efforts will be made TO belittie the Importance OF
the results of the recent conferences between the
presidents OF the principal railroads Of the country
and gentlemen representing the holders Of the Sc
curities OF the railroads Some allowance must be
made for the chagrin Of managers. who for three
decades have regarded themselves IA autoerats IN
their limited spheres, being brought up to sud
den realization of their responsibilities oy an I'M
prccedentcd combined movement on the part OF
tbdr owners Within certain circumscribed
limits IL Is 10 be expected that the presidents VIII
kick at the chain put upon them. But 1t is not
safe TO bet that the language credited TO some OF
the presidents is theirs.
The bears in the stock market ase In 9 hole.
II president A or expresses to his =" bosom
friend doubt OF the pneteabiity
OF the scheme proposed To- connne
the managers TO business principles. Wall Street
quickly. gets revised edition Of what was
said, which Is intended TO show that tho agree,
mcnt Is no good. The local agency OF the pears
to-day, while quiet in print was at white neat
in personal attempts TO ridicuie the results
betting on Mr. Gable, OF the Rock Island Com
panN as their friend, and that he will kick
all the fish into the fire. Hence the silly de-
Tines Mr. Cable probably is not responsible
for the language put in his mouth by The
Tines except to the extent that he does not
take the trouble to deny It, Mr.. Gable IN the
future, whatever he may have been during the
last four weeks, in his actions will not be OF
any special value TO the special friends OF The
Times"
IL is question OF management pure and simple.
Scarcely railroad directory In the country Will
fail TO be ashamed Of their reports for 1883.
A larger tonnage per mile, continuous cry Tor
more equipment TO do the business offered, are
aan- lCfA a
and consequent reduction in the net earnings
And yet that Is just what the railway
arrangements Of the United States have
got TO present. 10 their stock and bond holders as
tho results OF 1888. II the managements had
realized this six months ago and acted then like
faithful trustees, they perhaps never would have
been summoned to New. York to be compelled 70
do business ON business principles.
Io-day's stock market gave some improvement
in activity. The transactions aggregated &l69,-
20S shares, against 1890 yesterday. Prices
ruled higher, but the business was restricted by
the mpOssibility OF accommodating any quantity
Of stock at current figures. London was a mod
crate buyer at the opening OF some stocks, and
the short interest both bought and sold ~
such an extent that it is difficult to forecast to-
morrow's stock loan market; but as the general
that little change In the situation will be devel
oped In the meantime the earnings for the first
week In the new year generally make favorable
comparisons, which being partly because OF higher
rates will give larger percentage OF gain TO the
net earnings than the gain TO gross earnings.
The market closed strong at top prices.
THE DAY IN THE BOND MARKER
Government bonds were duh with the nomi-
nal quotations follows.