New-York tribune., 1889-12-18

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The Union Pacific Railroad statement for the
TON months ended October 81. 1859. shows net
earnings which are equal TO more than Der cent
on tbe stock The Oregon Short Line and Utah
Xorthern Railroad. which is part of the Union
Pacific svsten. but of which there is public
.oIdiro of the stock something less than one
half returns net earnings for the ten months OF
GO l1s.oO4. or Sl.167.s22 more than tie annual
cbaroes for interest: allowing that the earnings
for November and December are as LARGE as In
centember and October will give surplus OF
- 200 600. or the equivalent OF over per cent
for the stOck ,u,;, Sor.hcr, Rail
road report to the New-lork STATE commissioners
tor tho states year was published to-daN; IL
,~as ancient history. The report. maue up pN
compilation Of the four quarterly reports was
printed some three weeks ago beu III LIZ hr.a, 49,
IL was due 10 the ignorance of news bufea1
,hat IL thought 1t was giving something lIesh'
What struck the market. and was scrambled ailer
as yreat bear point was the fact that the nal-
90 after the payment of dividends for the last
vcor ended Sentember 80 was - 90 IeSS 'IlHn "a
tbe preceding wear ended Septeh6er o. 1898,
''ho fact that the last year included the payment
~ : per cent dividends against per cent loF
VI " nroccdinp wear was too small matter 10
oncunt I q attention of news puoh'SioHs' rs
Us shown three weeks ago. the suTnlus over
1;-;dsnds for the wear stated was SoEo.O9G' INV
VI VI IL stock earned over IA per cent. For the
iusn,onanv's 20, fiscal year to end December 81. 1882
con net earnings for stock will he nearer per
onnt than per cent. il indeed. theN DO not en-
ceed per cent.
WHAT WAS DONE IN STOCKS
To-day's stock market was not specially active
but il was strong IN tone all the way VuV' me
pue eiiSeorable - weather and especially the status
~ certain large operators, encouraged one more
raid on the coal stocks. IL was not question
- whether or not we wanted 10 sell them as
we could not buy them, we were loIeeu TO sell
,heu And Yet Delaware. Lackawanna and
Western closed up per cent from the lowest. and
philadclphia and Reading up 1-2 per cent
We opened Delaware, Lackawanna and western
oG "A per cent, and Reading of 5-S per cent
on On, viii The people buy such trash? ?" That is
hat a week ago was said about sugar certmcates
when they were 80 IL. IL gradually Is pehe-
rating the brains of the most egotisueal OF
onerators that il is one thing in dull market
o. mark prices down and another thing to make
tho other fellow sell at our ngurcs Last
Friday furnished striking example OF TINS fact,
when that 1000 shares Of Missouri faclhc were
sold at 81 IL. with the statement thrown In.
The publication Of ancient history. without
explanaiioa-due entirely 10 lgnorance~to-day
encouraged small raid on Lake Shore and
Michigan Southern stock 1t was big thing,
and the stock was sold off IL per cent TO lO' l2,
only 10 rally and close at los. and stronger than
ON any preceding night. With New-i ork and
New-England there was a supreme success In the
way Of depression; il actually closed IL per cent
lower than yesterday.
All the "Grangersp ruled firm. with only
moderate sales Union Pacific and Oregon Short
Line conspicuous for their strength. and both
cntablished material advances. Missouri faclho
closed up IA per cent.
In the unlisted department the sellers OF other
neople's property enjoyed the pleasure OF paving
from IA per cent TO "a per cent Tor the delay
of one day in the fulhlment OF their contracts,
and this being called squeeze encouraged
further sales OF the certificates. because You
know when stocks are squeezed the rise Is sure.
The certificates closed at 81 l-a-l IL lower than