New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-07-11
-c,o-rNc prices OF PHILADELPHIA STOCKS
A nEIrSION DISPELLED.
Wednesday, July lo-p. I

y.
There has existed a very general impression
that the receivers OF the Mls'ouii' N"iS"S '''
To,.s Railway Company were under the control
Of Missouri Pacific interest La1e events 'nou'N
disnl any such delusion. BY the acquisition
through a traffic arrangement MADE uhueI ,''
ordors Of the court. of the Kansas City ana Ia
oifo Railroad the receivers have made a dlrecO
md short connection with Kansas CITY, indepeHu-
ont Of the Missouri Pacific, thus reaching great
railway centre The Kansas City and Pdcluc runs
from Paola to Coiieeviile in the state OIL haAS's'
and connects with the Missouri, Kansas ana texas
a. Parsons From PaOla. Kansas City IS reacheu
On the Kansas City, Fort Scott and Memphis hall.
road under an agreement furnishing large 'eflil'n"l
facilities. The Missouri, Kansas and IeAas Coni-
Danv took possession of the Kansas CITY ana "a
ciGc COMPANY last Monday. july ;, 80 lIlau u'c
earnings rerorted below. for June. showing an
Increase of Sl55.O 900 do not include any oil jhOse
derived from the new arrangements: Inns IloNc-
mcnt on the part of the STOCKHOLDERS anu 'lo
General mortgage bOndhOders naturally Me3keHS
the position of the first per cent PohuhotiLCrs,
who are secured by a mortgage on tIle noItI III
part of the road 1t Is for the interest ol az
uarties and now specially or the nFSJ morls"Hc
bondholders to come to equitable arIaheeh.'O
as speedily possible, 50 as 10 uIscn"Tso GlC
receivers. If the first IS uecde 10 tiINc IN ,lo
part of the road covered by their mortgage uley
viii possess a line without beginning Or emu
ing at any railway centre.
WHAT WAS DONE IN STOCKS.
To-morrow's dealings viii begin in the stocks
Of the consolidated Cleveland Cinclnnatl, CHic@so
and ST. Louis Railway Company-o2o, 3CV'oOo
common and 81 100000 preiered-issucd III o.
change for the Cincinnati, Indianapolis, 81 Louis
and Chicago. and the cleveland, C0luhDuS CIh-
cnnoti and Indiana polls stocks which old stocks
viii be stricken from the Inst on August l.: M
new company make direct connection al Slhcll-
natl with the TeoIganlzed Chesapeahe ana El1 i
Company. NJ. f.. ingalls, is the president OF DoIh
new companies. The Chesapeake and ONO COh-
| pany, which now includes the Iichmond ana
| Allegheny Company, and has done 50 Tor several
months, continues 10 report the earnings OF the
| two Old companies separately. Ever since lhe
partial consolidation Of the two companies 40
! the beginning of the year, the Chesapeake ana
Ohio has diverted its eastbound traiic to the
tracks Of the Richmond and Allegheny, because
of economy in the use Of grades 80 that IN read
! ing the earnings Of the two comp@nle, reported pc
! low they should be consolidated. The guin in
gross earnings for SIX months IS over per cent.
| The days stock market developed gam IN
activity and also in values ne transactions III
| listed stocks aggregated 23IO29 shares, against
! 1928 shares yesterday. 1t can hardly De sald
! that the bears were on the run, put "nllc
talking and writing as pesSmistic as ever they
were disposed moderately 80 cover for rally
! Chicago was rs deep in indigo as ever; there IS
no salvation in the abilities of western managers,
and the most bitter and eXbaustng rate wars
that have ever been known by the granger roads
were predicted for the current month, nOtWllh-
standing the current traffic Of western railways
! shows "A much larger volume than q year SINCE
! The Western railway mana gers should hasten %
present the author of this strong Indictment
against them with halter, speedily TO relieve
rs Of our friends But it noticeable thar
following each prediction of this kind there were
! Chicago orders to purchase stocks. W. would
not intimate that there was any connection be,
| tween the authorities for the predictions and
I the senders Of buying Orders-OnlF that
Chicago does not believe Itself any more than
| New-lork takes any stock in one out OF
| Ten Of ChcagO's news items. either those by
telegram or these in the Chicago papers, concern
ing railways month ago we wrote that Chicago
| was as rash and untrustworthy IN us " BUR news
| as il had been in its " bear II VS.. II is safe
| prediction that within ten days lis bull" points
/ viii need TO be taken only with large pro-
portion Of salt added. The business situation,
the crop movements with prospects Of q large
foreign demand, will override even In" inability
and dishonesty Of railway managements II ID
requires brains - manage property success
! fully during a period of depression from natural
! causes il requires smart men to wreck il in good
times The year Of lSSS furnished evidence Of
the truth of the last proposition. Large, and
particularly clumsy, bodies move slowly. 50 We
are not disappointed at the protrdction Of the
consultations Of either the Eastern or Western
managers. One Of them in five minutes can DO
a damage which il Will take the whole pody
ten DAYS 10 remedy. If the Interstate Commerce
Commission would postpone all their civil adludi-
cations and devote their whole attention 70 the
administration Of the criminal portion of the
law for the space ol sMW uN ;,
then hereafter would be little occasion
fer the meetings Of presidents, EXCEPT ,G1'
for the transaction Of Western business Inc
market looks well and it acts well, under The
secret buying Of some who have been powerful in
disturbing confidence it closed materially higher
than last evening and dull.
Yesterdays bear effort 10 aid the demoralz1.
ton by attacks on the Trust stocks was sed
failure TO sell them because Of an anticipated
decision in the North River Sugar Company
was foolish operation. Whether or not that
company has profted its charter docs not affect
the status Of the trust: there is no effort to con
Gsrate its property and il has none to he con
dscated The sellers Of 1000 shares Of Cotton
oil Yesterday at s. l-4a5j 3-s, today saw The
price return 10 SO and higher, without any and
from them that stock is still 10 be purchased.
THE DAY IN THE BOND MARKET
Government bonds were duh and easy at quota
tions as follows