New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-27

Thursday. Sept. 26-p. m.

Thursday Sept. 26-p. m.
And now comes the Pennsylvania Railroad with
its report for the month Of August, showing
gain in its net earnings Of Sl3SGJl for the
lines between New.Yorll and PittSburg. But what
is Of more Importance is the return OF the
leased lines west OF Pttsburg Notwithstanding
the much advertised passenger war between Chi
cago and Ohio River points, the Western lines
show gain in eurnings over interest and divi-
dends of over S2sO,OOO for the month. There
is something wrong in the calculations Of our
bear friends when such results follow their
special exaggerated reports Of demoralizatons But
right or wrong it is silly for them 10 publish their
anger. Nothing is more conducive TO apOpieNy
than restrained excitement TO keep cool and,
if possible, pick flaws in your adversary'S armor
is more tellingI as well as more Chcstcrieldian,'
than blaclguardism. Wall Street wants news,
all il can get, but the commission houses should
have 10 use for that kind OF news that is filtered
through an interest in the stock market whenever
il may be published.
WHAT WAS DONE IN STOCKS.
There is little 10 be said about today'S stock
market. We said it all last night: . Whether
or not there is an active speculation, present con-
ditol, will make much higher values because
with a scarcity OF stocks in spectators hands
outside buyers will make the higher
made the high figures at which all good
bonds ruling. To-day's Union Pacific was the
special feature in the market, because o. us
remarkable good showing Tor August, IolOWlns
the good report for July. But IL was ROT pro-
leSsiOnal local spectators that did the buylng eA,
cept in covering shorts it was London ana
a home investment buying that marked the price
further up from 50 To 66 Ia and the transac-
tions-37 800 shares-hardy exceeded those OF
some days when traders in the market have turned
back and forth within n range OF IA per cent
Oregon Short Line made a greater advance with
sales of only 1920 shares. The whole market
ruled strong despite a dulncSs That recorded only
IS43OO shares for the total business in the listed
stocks, and despite a renewed raid on the sugar
Trust which lett its price at 90.
There is in existence $780, zoo, 900 OF Sugar Trust
certificates: the " short sales OF il probably
S1O,OOO000. It's price may or may not 90 lower,
but it has ceased 10 be IA factor in the general
market although the Governors OF the Stock IN
change refuse to learn by experience that the
dealings in unlisted stocks within their walls
are detrimental 10 the interest OF the board They
expect people to have confidence that some value
attaches TO anything permitted to be called NJ
the board. The quicker the whole unlisted de
partment is abandoned. and nothing IS permitted
10 be dealt in at the Stock Exchange which has
not cOmnlied with it's rules 10 statements OF
capital etc, the better Will it be for the IN
change and for each Of its individual members
II is an eXcrescencc born OF spite, and lives only
on folly.
TIE DAY IN THE BOND MARKET.
Government bonds continue to flow INTO the
Treasury; its purchases to-day amounted TO
S443,SjO. ConsStin-; OF $l53,s5O 4 per cents az
] 20 and 500, 900 II per cents at 90 J-l. Al
the Stock Exchange there were no transactions
and the nominal quotations remain unchanged as