New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-27
Total, 20 co'ss4i7 1851 sE.A4s 0O7 Inc s2ISlvO o
THE WEEK N TIE STOCK MARKET.

After period OF nearly eighteen months during
which "A few Managers OF railroads by mlsil!hH
agcment, If we are permitted 10 use no siIohs,t
term. succeeded in demoral2ng the whole rail-
Way traffic Of the United Stairs, ana by the en-,
enlargement OF peSsimiStc OK expressions stimulated
bearish operations in railway secuStes anu caantn
a heavy depression with severe LOSSES 10 rev
SPECTATORS and investors, with little or no prOht
10 the conspirators their associates the dr-
teImincd stand for reformation taken hsl AugusG
after the issue Of that famous and yet Unexplained
,lx months statement OF the Chicago MILWAUKEE,
and ST. Paul Company, begins TO bear lfuil nc
Tribune OF May sounded the keynote 10 the Sitn
ton when 10 referred 10 the movements In the
Oregon Transcontinenthl stock as PROOF that Tor
months operators had been dealing in phnntomS.
and that demand for the certihcates oil almost
any active stock on tho list, instead OF simple
extension and exchanging OF contracts, wouIa
develop an outstanding short interest From
that date 10 the close Of business yesterday thcrr
| has been o steady advance, without material re-
action, in nearly all the stocks dealt IN. Inc
siren 9Th Of the situation N shown by the TACT th'
following the rapid advances there has only been
a hating, and not decline worthy the name OF
reaction. There still exists n strong disposition
to contest the advances as they occur, and this
keeps the :" short interest in a majority OF the
active stocks not much below It's maximum.
| There is little or no cessation i'll the publication
and aggravation OF every item OF discouragemcnt
that can possibly be discovered by the continued
use of a hnetoOth comb The iron market which
| Is really making solid Improvement, is pictured
| TO be in deplorable condition. Granger legS-
aton is stll harped upon 10 demonstrate III the
language and threats have any meaning an
intended confscation and abandonment Of the
properties. Ii is true, however, that Chicago,
| which heretofore has sent the most dismal prog.
| nosticatiOns now tempers its gloom with eXtrava.
| CANT promises.
It never was possible that IN q country where
abundance Of all the products Of the earth existed
| where lnbor upon the whole was so satisfactorily
| Employed that the deposits in savings banks all
| over the country were steadily Increasing 1.-THE
labor troubles heard OF in population Of 60, 0OO,-
| 600 people being but shower on summer day.,
and where money is IN such abundance that gold
may be freely used for the liquidation OF foreign
debt without disturbance 20 the money markets.
lit never was possible In such country that
| the mismH cement Of great interest nor the
dIiigent dissemination Of pcssinlishC views could
long hold control OF mems minds.
| Added 70 the assurance now felt that the rail
roads of the country are 20 be managed In the in
terest Of their owners, people are beginning "a
realize that il requires an advance on the average
rates of last years reclessness OF only fraction
one mill per ton per mile TO restore railroad pros
to the EbS Gsyo OF SS Gi and St. P
COMPANY: In 1887, the company cafreu oi
freight 500 3si,5 sol tons one mile, and received
therefor an average rate Of log cents per mic mile.
In that year the company earned o surplus, over
| 6 per cent dividend on its common STOCK, attcf
paying per cent on It's preferred stock. Now
with larger business in 1888, carrying $40 22s
gSI tons one mile for which 1t received only l.00G
cents per mile, 10 earned only 100000 toward n
dividend on its preferred stock OF S2l, 6l0.O 900
| This example clearly illustrates the effect OF the
railway war, which without adequate cause WIS
begun by the Chicago, Burlington and QUINCY
| Company in November. 1887. 1t requires large
| bump Of imagination IN suppose that
either the stock or the bondholders OF any com
Lany would long submit 20 management whicl
| produced such results As the evil was OF SLOW
growth. so has been the information, which w
IL hone and believe is now about com pleted. Thu
new directory OF the ST. Paul Com panY Will con
tain at least three members representing TN
wealth and ability Of some Of Ito principal owners
The business In listed stocks at the EXchang
last week aggregated 2,f06, 743 shares, and bartin
the large transactions in ST. Paul thy wer'
unusullV well distributed. and generally show