New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-07-26
THE PENNsYLvAN1Ns GOOD SHOWING.

Thursday, July 2O--p. ILL.,
The .June statement of the Pennsylvania Railroad
which is printed herewith is unexpectedly AaNor'
able because loss of S1,149,3S2 IN the gross
earnings and of s604 662 in the net earnings lroni
June 1888, are not the percentages Oh one ioS,
which il was reasonable to expect from pracucai
twenty days suspension OF business between
Philadelphia and Pittsburg. which was occaSioleu
by the Hoods "
The gross earnings Of railways IN the tniru
,veel, Of July are making as favorable comparison
with 1888 as did the preceding two weeks. ouO
of the nineteen companies already reported Tor the
third week in July only two companies have tailed
TO return handsome gains on the week OF 1883.
Yet, according to the daily bulletins on the rail-
way situation which have been prepared for the
New-York Stock Exchange clientage, that situation
was worse than ever before. Are the
reported earnings false, or has Wall Street
been flooded with lies for stockjObbing pur-
poses? The reported earnings and the western
dispatches relative to the situation and to rate
wars are so at variance with each other tilaO
one or the other absolute lies. we DeueVe
the official reports of earnings, and not the STATE
ments of irresponsible agents who work hardeSO
Tor the greatest pay ;, - ,. -.
If the Stock Exchange should half endeavor to
enforce the New York statute relative 10 the cir
culation of false reports calculated TO affect mar
ket values at the Stock Exchange there quickly
would be greater care used Ill editing ana printing
alleged news But instead of trying to protect
its legitimate clientage, the Stock Exchange al
ways is busy in trying to discover how 1T can huft
the 4" little Exchange around the corner or
making sensational efforts, outside the law, 10
suppress the " bucket-shOpS."
In to-day's stock market the important failure
in the dry-goods trade announced in The Tribune
was made factor in the making of early prices.
IL was not supposed that the firm had any interest
in tho stock MARKET but il alleged TO be far
reaching calamity So for an hour or more the
bears held control Of prices, and marked them
down till they discovered that they were the only
sellers and that they had no following of long
stock The market was dull all the way out There
was not an indication OF excitement, so thai when
the efforts to PecOup the stocks sold early began,
prices moved up more easily than they had de-
cGnedJ and on smaller transactions. Union
Pacific after selling at 81 3-4 to 80 on re-
port that the net earnings for June show gam
of nearly 100000. The actual figures are not
vet at hand, but any gain is S250,00O better than
the fact" published July in a spectators cir
cular and which has aided the decline from
so 1 . St Paul, after 6S -, rose TO iOa
60 rs. and Missouri Pacific, after 90 "a, closed
at 81 H. Reading was comparatively oull
only 5000 shares, against $4,000 shares yeSter-
davl. but il recovered TO A 5-6. The new big
Four" and the Chesapeake and ONO after early
declines ruled firm at recoveries on small trans
actions. The market closed at ABOUT Ohe ocSO
figures quiet and firm.
WHAT WAS DONE IN BONDS.
In Government bonds the business was covered
Inv sales of S5, 900 per cents at Us L.. Inc
onotatiOus were easy as follows