New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-06-06
STRENGTH AND SHARP ADVANCES.
Wednesday, June 5-p. IN.


The large majority OF purely speculative traders
who last evening were sure that stocks would
suffer material declines because Of the nb%nc'
~ the tickprs" to-day met with "A costly dlNhp-
pointment From the opening 70 thu close OF
business the dealings were characterized nv an IN
mistakable tone Of strength, winch ihaUS u'-
veloped into sharp advances, toward when Tue
pagerness OF some who were short contributed
not little But it must he remembered that
those short" sales during the lnst four days OF
uncertainty regarding the effect OF the fennsyi-
vania calamity, and since the discontinuhnce OF
the ticker service, contributed TO tlr derlineS III
prices such as they were, and that some one pur-
chased those short" stocks To-day IL was de-
yeloped that con psrison OF sales OF stocks since
the discontinuance Of the ticSers with the aver
nge daily transactions Immediately before last
Saturday are deceptive The present method Of
collecting the transactions Is Incomplete, and the
incomplete records OF the last four Days have
been compared with those gathered by a method
which frequently duplicated salrs-both buyer
and seller reporting the same transaction 10 be
sure IL went on the tape" To-day has been Oh
active day on the Exchange, and every broker
will be surprised 10 learn that the record gives
only l9l, 632 shares as the total transactions In
listed stocks The record also gives 10000
shares OF unlisted stocks
Chicago continued its war OF railroad rates by
telegraph while Chcagos lveliest SPECTATORS
purchased the granger stocks. With much dis
play Chicago furnished the partial figures OF
the Rock Islands annual report for the
year ended March 81, showing deficit from
dividends paid In that year OF 100000. Not
withsta nding that, IL has been well known
that the Rock Island Company In that year
did not earn the dividends paid-not for want OF
tonnage, but because OF rates which the Burling-
| ton and Quincy foreed-there were some suckers
who early sold the stock at 8S 94ay9, only 90 SET
IL close at 90. This illustrates how buyers ore
being influenced by future prospects and not by
| tie dead p6st Of wicked manageiutnts.
The Chicago, Burlington am. and Northern pr.rn
gains in net earnings Of s7o,22?, and for the four
| months-January 10 April 30-net gains OF
, $3.50, 6e2. These gains are the result OF higher
| rates and not Of a lhrger business Probably the
Tonnage of the Burlington and NOsthern In the last
| four months was less than in the four months OF
| 1883. Yet true 10 the policy OF the Burlington
and Quincy-rule or rtin-and despite the evidence
presented by It's reports that rates and profits are
or should be- the first questions Of trustees OF other
peoples property IL has bobbed up serenely again
rs o distprbeE OF race. SO II seems 20 be By re;
events do indicate attempt the part OF specu.
| latcys 20 make nQuntain out Of a molehill.
The securities Of industrial companies or trusts
are daily growing In favor. In this the American
public Is following Europe To-day Chicago Gas
Trust. without fuss or feathers. quietly worked ~
Property. fts halt at below so for ten days has
brought out large quantities OF speculative stock
he absence OF further offers OF that clnSk OF stock
Y the regson for the advance, Chicago, which sold
% bur q part Ok It back. what was done IN. th'
u Excepting ths chsaaosaas and Ohio ssssirs. thu