New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-22
CLOSING PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.
Monday, Jan. Clip. m.

Monday, Jan. ZIP III.
The Illinois Central Railroad Company to-day
declared its final dividend for the year OF 1000
Of 2 2 per cent, making per cent for the whole
zoo, In connection with the declaration of the
dividend, the company issues circular TO us
stockholders explaining why the dividend Tor the
Hast six months is reduced 1 per cent from lts
heretofore regular divisions The circular con-
tains little that has not been printed repeatedly
IN this column. 1t is ancient history without
figure showing the traffic or earnings OF the COM
many during the year ass. It is the story wnich
viii he told by every railroad report-iarge
tonnage nc very low rates for which the other
fellow is responsible. But we quote:
"The volume of tonnage moved during 1885
was the greatest carried in any one year py inc
system. even excluding the tonnage carried oy anu
IN and from the new branch INES put III opesa
tion last summer This largely increased trathc
.orarnT.a large increases in all the operation ex
renses incidental TO handling and moving freight
Enoines and cars were taxed TO their capacity
En- s,ncers and Hremen, conductors and brake
man were employed more constantly ana IN
orso,er number than ever before in the history Oh
,he road LARGE additions at important p8uons
,yo,e made to the station force. More men "ere
reouired in the company's shops TO repair anu
s,.,.oir ,b. ecuipment In nearly every brancn
20 sorvic. increased expenditures were an I'M
Dsrotive necessity At this time it is impractcaoie
80 Give the tons Of freight moved one niiie' sno
the cost per ton per mile for moving H.
Tn. circular gives tables OF rates, showing tnose
IN force during 1887 compared with those ironi
Fehruarv II 1858, TO September IL 1900 Wy
reduction averages o decline OF ABOUT 20 per oen~
Some mild structures concerning inc COURSE ~
sned by the Burlington and quincy anu iO
,hs burlington and Northern, are induiged In anu
'r ~ ctiooro Milwaukee and ST. Paul management
'He ~ Tor n mart of the responsibility for inc
49, -, -a,os Tho circular closes with TINS pleas
ing prognosucauon' .s,r,, ,,oar vii,
=. ,,,oro fruitful Of results than tho one luso
-, e. n close Wise counscs are prevailing
80 and more. Stronger effort are being pun
60, for the establishment and malntenahce u
,u,, reasonable and remuncrative rates anu 'ii'
close interlacing OF the many railroad systems
.na thar active competition between inipo.'"n'
commercial centres far apart whose oatties naVo
hocn chiefly waged by tie transportation hnes
leading therefrom, are forcing the transportation
.o.nnon,cs IN A greater extent than ever before,
% reaize that they must act In harmony WIN ons
another and bring 70 an ena t ,,s,o u''0O'" INV
In viewing The whole system ana ltS ura'no
relations. the attitude OF other lines, me growins
determination that rates must De raseu " go
u s,,mn that the revenue OF the Illinois Centrai
systcm will be materially larger ior looe uen
for 1888 II this belief crystalnzes INTO r ,;n,
60 ,be operation expenses are kept, as penevc
,hsr will be- within last years ngures inc nee
rc,Ilt will be much more SATISFACTORY lor 20,
tbon for 1888. During the iaso SIX years ui,c
uholc system has been solidifed ana ludiciously
sS,i,orded either by purchase OF existing lines
mr. construction OF new ones, nnul ln stahus ,o.uy
aimost perfected. know from personal observation
that its track Is as good as tHnS o. and S It's
Eaton grounds and station facinties more COM
modious and better suited to modern REQUIREMENTS;
g. locomotives superior in average capacity; lts
frciSht cars equal TO the best types that are
The Chicago and Northwestern Railroad Com
many to-day reported its gross earnings Tor De
ap"n,bor 1883: the loss from S87 lS25O,9So) is
Inst about the amount of decline we set 1t down
M two weelc ago. when the wan street book
keepers Of the company repor.ea ,ha. ~, Tue loss
nanv's loss in gross earnings Tor the calendar
year 81 .2i7,S5i but Of that loss $4,000 went
into the eompany's fiscal year ended MAY 81;
earnings from the trans-Pacihc lines and land
saies. 81, 800, 900 in excess of 2 per cent diyi-
dend on the preferred stock and per cent on the
Tho only spectators of moment there are at tho
Stock Exchange-the bears opened the market
this morning weak; that is prices generally were
AoIo against so Ia, Saturdays closing figure,
and onickly declined TO AZ 7-S. While this move
mcnt was in progress efforts were made TO purchase
The general list The effort met with little success
because the stocks were not there on sale. The
fevv traders who were disposed TO sell the market
on the further decline in Atchson, when they dis
covered the buying orders turned and were com,
netitors with the big bears" as purchasers. And
hence prices advanced. The scarcity Of stocks TO
meet the demand OF q moderate investment and the
urgency OF the short interest is daily more APP
parent The Government debt could not be sold
In an hour at par. SO with the stock market. with
sn en- on the bull' side dead, when the
bears press the dull market with 700 sha.cs
actions. they temporarily mark prices of la1 Ia
pcr cent but IL Is to be noted that the repurchasc
~ the 800 shares actually sold generally marks q
figure I-sa1-2 per cent above that at which the
depressing movement started,
To-day Delaware and Hudson and Pullman
Palace Car stocks were special features in maxi
inc sharp advances. An old time investor in
pujIman to-day, in reply TO an inquiry: "What
IS going on IN pulmans said III s don't know an UNI
railroads has so reduced the demand for cars
that the Pullman managers have as nothing els. else
stock; they are doing that TO my entire salts
faction but / am looking for the profits OF tho
- % ha enarE at s,rta> fan INV