New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-02-27
CLOSING PRICES or PHILADELPHIA sroCks'
Eeh 1880.
rAISEHoopS sENT FRoM CHuCAGO.

Tuesday, EeD 2b-p. nj.
For a full comprehension Of the days stock
market IL is necessary TO start back ut yesterday
beginning Then we had Chicago dispatches 70 the
effect that both the Union Pacific and the missouri
Pacific were out OF the Presidents Agreement
These dispatches were simply fslsehoods- made out
OF whole cloth. Next was the publication IN the
London edition OF The New-fork Herald yes
ettlay morning OF the positive statement that there
would be no dividend declared on the preferred
stock of the Chicago. Northwestern and 81 fsui
hallway Company We do not know whether or
not there will be q dividend, but we are as wen
informed on the subject as the person who' on
Sunday night, sent that positive statement 10 the
London IIerald.7 and. at the same time, cent
orders TO break the price nc the London STOCK
Exchange. The st. Paurs preliminary statement
for last year is before the public It's final rsuit
rs shown may be correct, but there IS room TOT
suggestion OF manipulation between the gros
earnings and the operating expenses. ines
things, which were the principal factors in yet
terdays market. continued to-day to exert SOM
influence in making narrow market Neverth-
less, with duneSs the prevailing feature, there WIS
an undertone of strength that quickly developd
a. every attempt 20 make purchases Nne
realize this fact more than the bears and tfy
never more fully realized IL than they did toby
The general market closed higher than last een-
ing Atchson, Topeka and Santa Fe wal
notable exception 70 the rule for the day il was
the weak spot, and IL was slammed and hammered
all day TO cover purchases in the other maket
ST. Paul closed 5-s higher than last evming
with yesterdays sellers at 81 Ia, buyeB at
GO IA Oregon Improvement dropped TO SO and
recovered 10 81, and closed at SO against "a
lie lou hnn N % hnar - NM
ment based on the unfavorable report OF esrnings
in December, and an expectation Of ms badresults
for January. The president Of the company. who
probably is the largest stoclSholder in the c,mpany
authorizes the following statement: "A year
ago the company in the absence OF sufficient
vessels or money to purchase them, was COM
PEELED to charter outside vessels ut very high
rates to meet the demand for business on the
Southern California coast caused by ihe great
boom prevailing at that time in real estate there
The collapse OF the boom last fall left business
proStrnted in the last part-of the year, with our
chartered vessels still hand 81 excessive rates.
The vessels at the best did rot earn over ex-
penses so that the charter money WIS absolute
loss. Steamship business generally on the south
ern coast was otherwise bad. because q the warm
winter In the north cutting OF the usual southern
travel; these charters expired February !. Aside
from this, the fire at the Fralklin mine
diminished production considerably and cut on
receipts while increasing expenses. 3esidee this
the company had labor troubles on Is hands for
q time which demoralhed IT'S busiless and re-
duced earnings. There has, thereire, been an
unusual combination Of difficulties finding TO re-
duce earnings the last few months. But the COM
pany's business is not without nvorable out
look The labor troubles gre at an fd, the fire is
out, and our general agents write nat II spring
business meets our expectations we shall be abort
Of steamers We are nov negoulths for ths
purchase or building OF more steamfs which will
In the future avoid necessity for cfrtered steam
ers. The company earned nearly per cent for
the past four years. and about 81 per cent
for the year ending November &c, $50, so that
the loss from these exceptional cawcs Tor the few
months doe not seem 10 WARRANT such anxiety
on the part OF stockholders as Apparently exists
at the present time, as indicated 81 the fall In the
The deal. between the Union Pacihc, Oregon
Short Line. the Northern Pacific, and tho Oregon
Railway and Navigation does not AFFECT the prop
crty for veal or woe. IL has suffered two months
bad returns from exceptional cssises and there
fore the price Of It's. stock has declined 20 per