New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-10
CLOSING PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.
Wednesday, Jan. 9-p. n

wednesday, Jan. 3-p. ID.
The corrected statement of the gross earnings
in the month OF December, 1sss, of the New
York Central and Hudson River Railroad Com
pany shows that they were $3.50 more than
they were set down to 10 in the quarterly esti-
mate issued December e.
The serni-annual Systematically 1 10 Decem-
Der 81 ISss-of the Louisville and Nashville
Railroad Company December being partially es-
timsted-shows net earnings for the stock of
soso,o74, or over per cent This is decline
from the result Of the same period Of 1887 Of
s399, 050 But considering the conditions under
which business has been done during 1887, the
showing is remarkably favorable. In accordance
with q resolution adopted at the meeting Of
stockholders February 81, 1888, that for three
years the net earnings should be applied TO better
ments and that the stockholders should receive
recognition Of such expenditures in stock divi-
dends, the directors declared o stock dividend
OF per cent
In the language of our old, valued and anony-
nous p friend, Tuxedo who is so solcitous
for our reputation to-day's stock market was
the same odd chestnut The bears did it.
In the first fifteen minutes they made the prices
generally better than yesterdays best figures /;
later they made q Decline and in trying to rccoup
made the final figures about the best of to-day
Tuxedo writing from Broadway, New-York
is not 10 be excused for not reading more care
fully We not only have noted the sales by
bears during the last twelve months, but we
have noted particularly their purchases of their
latest sales. We wrote last evening: To-day
by manipulation and some additional short sales
prices were marked OIL small fractions, Just as i'm
twenty-four or forty-eight hours hence they will
be advanced by efforts TO rccoup the small .con-
tracts put out" We might have written, in
stead of wentyfour or forty-eight hours hence,'
the first half hour of Wednesday, and been
prophet. One word more: Judge Cooley's
speech in Boston last evening used almost the
exact language which has been printed in QUE
columns twenty times or more " The period during
which the law operated most to the benefit OF
the railroads was precisely that during which its
provisions were best Observed That period was
from April 3 TO December |, 1887.
1t Is patent to all observers that larger part
OF the business done at the Stock Exchange is
on orders given. out by a bright and active
ditions beyond his control. His faithfulness and
qniokness in the service Of clients never was ex-
ceIIed. IL is beginning to be understood that the
commission houses in the board, while the buying
orders are given either 10 speculative traders or
small brokers. The last tdme before Monday that
prominent Boston hrm was u large seller of
Northwestern was when IL was i 4 7-6; Monday
IT again was a seller 40 107. The same
firm which sold Union Pacific at So l.2a6l "a
little time ago, to-day was O seller at GA and
under The same irstclass commission house to-
day sold Cult. Colorado and Santa Fe gold Is at
53a7O IA, against 20 l-2 last evening. IL was
the kind of Strengthening that the firm does not
do without special orders.
Simultaneous with this movement orders were
given out here and in Boston TO buy .Atchison
stock The decline in the prices Of the bonds
started the story that there would be default
in the payment of the April coupons. The COM
pany's iscal agency in this city knows OF no such
intention, and states that 10 has no doubt that
the interest when due win be promptly paid
The story also was circulated that the North
westerns earnings for December show q loss of
$3.50, 900 The company's statement is not due
till about the cath. and when issued it will show
n loss of about 5000, 000 which. considering what
a month December was for rates. Is small The
rates existing now would have shown q large gain.
There rs no doubt the bears arr using every
effort and employing every device to get out.
Their best friend-the railway management of
1888 has been forced to leave them. and the
stocks are not held in speculative hands. even to
the amount of the outstanding contracts to de-
liver The market closed dull and strong in
figures
THE DAY IN THE BOND MARKET.
Government bonds were duh with che nominal
quotations as follows: