New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-12-03
cInsING pRIcEs oF rHILApELPHIA sTocKs
NETWORK AND NEW-ENGLANDS ANNUAL
REPORT


Tho annual 70 mort Of the Ncw-Yorl1 and New
England Railroad is not cheerful exhibit. we
are not pess.mistic, neither do we wish to be
sevsrp on any managers of railroad properties
Rut this particular report does seem to indicate
an inexcusable incapaclty on the part OF the mall
ayers TO run other peoples property. There is no
reference made to the short crop Of wheat IN Rus
sia but the excuses offered for the bad showing
are nearly as far-fetched as would be such rel
ercncc Vice President William F. Shinn says
The food in Pennsylvania on May 81 ana tle
DAYS following destro, ed the Pennsylvania hall-
road TOUR principal connection for through uaiiicl
m such an extent TINT our business with that inc
was very greatly in errupted, resulting, aS Is est
mntrd in a loss of earnings which were not alter
ward recovered TO an amount OF not less IMAM
10000.
In lses the peach crop in Delaware and Mary
land was unusually large, resulting In a revenue
from the transportation Of peaches IN that year
considerably in excess Of previous years In $50
The crop OIL the contrary unusually small, re-
sulting in a revenue from the Transportation OF
peaches of not much more than hall that OF
ordinary years The less OF earnings from tns
source is estimated to have been at least So 600.
Tie failure of number of industrial works
upon the lines Of our road has resulted IN a con-
Siderable loss of local traffic 10 and from them.
This has been particularly the case during the last
four month Of the fiscal year. 1t IS hoped, how
ever that the most OF them will be again put in
operation within a reasonable time and the trarhc
thereby lost may be regalned.
1t is evident, as il has been during two years
past, that the New-York and New-England is
sadly in need Of a management that knows the
difference between a first-ciass locomotive and
cana boat The operations and financial results
of three years are appended:
Eos: e a5 s.s ss 55S sS9 fs
From pas,cngers 81 sss4ss 81 7ss 81 s1s5ss22
From freight....::. 24s5 PIG SaaSi'54S 800 35i
5 FS% e. ssDs' ETC. 2 545s '0is ' Ss5
Total income........ s42i76s5 s527s45O IS 667'ioo
opt tases s2o1ss1i ss51loso sa7s7sa
on pr preferred stock. 11722s1 1892 os 1si5,sss
Total deductIons.... s4o9O5'5 s5cOI49s s5. s7.i7o
Surplus ................ si27l4o 80 eGea s2o. $3.50
The report reads as if il was made for the pur-
nose OF making a market at the Stock Exchange
for the purchase OF cheap = stocks.
The stock market, as was anticipated, opened
lower and was further depressed. The bears
continued their tactic>, and first devoted their
attention TO selling Chicago Gas down 10 80 .
Next on the programme was one Of the unlisted
Sugar Refncries-which was sold OIL 10 81. The
general market at the same time was subjected
10 more or less Of sharp attacks. After the first
denression there were recoveries but there W.. a
feveriebness that must be expected 10 exist till
the rumOrs OF failures are disslpatcd The feature
of the market was that on every rally prices
shaved some gains on the preceding reaction
and that AT the close, despite savage onslaught
substantial gains were recorded. Even the Trusts
were much higher than the lowest Of the day
and in railways the advance was limited only by
the sma II supply at the current figures.
DpSpte the decentralization at the Stock Elk
change The general business OF the country moves
steadily forward, and merchants and promoters of
legitimate enterprises have no trouble in obtain
ing at fair rates all the money their require
ments call for.
We shall call the market as closing strong az
something off the best figures.
THE DAY IN THE BOND MARKET