New-York tribune., 1889-12-30
Total g. cos s5 e9i 1Jl sGSos i25 Inc. s04Soo4 IL
THE WEEK IN TIE STOCK MARKET.


Sentimental high rates for money at the Stock
Fvcboncr last week and efforts 10 create y scdIe
that higher rates will prevail IN the earR PTalv PT
of this week begot dulness IN the sl2ck inaIhcc ~
and a poverty Of commissions 1ur pIoktio' r
total transactions in listed stocks for the week
aggregated only 427 ,53l shares, OF which lOS,OUO
was done in Yesterdays two honrs o. d, DmsI ,,n
Until Yesterday the market was SIMPLY duIl WIN
fluctuations each day hardly exceeding ,lc
AMOUNT Of brokers commissions. bnU AaIiS Ars,tao'IiS
tbcIc was moderately sharp dccllhe' pri"ciP.HlS
duc' 10 the energetic predictions cOnccrhihE lr
money market for the two remaining uaNS oi
the year Ii all that was predicted Is IcaIGcu
borrowers Of money upon stock coliaterdIs @ uuiiHS
the next two days will have more puSlcsS ~
attend TO than they want. But gcncralN IT. is
the expected that does not happen. All 'his Lux
first drove all but the strongest puNcrs oIl VI Wv
market and secondly, IL induced nearly cNriH
commission house in the street TO advise the lew
customers they have left TO sell their icW lohg
stocks with the expectation OF buying li@m "'h
NJ lower lriccs This last advice, together win
additional 50 les for the short accounl Is What
made Yesterday 5 stock market unusually active.
Both long and short stocks were ,oid 10 rcr'teI
at lower prices. Under these conditions anu lhe
amount of transactions II would seem as II NcS-
terClays market developed n greater Strcilgth
tman ANY OF thosc of recent preceding DAYS
The terrified longs and eager bears Vien WIN
each other in supplying market WIN stocks "hi
contracts in which none but the wealthy d3lcd
10 make bid. lnqucslonabiy Yesterdays buy
ing was of much better character UaH lli'
selling but if stocks are rot lower to.lnprr0W IL
will not he for lack Of efforts 70 rig both The
money market and brokers Offices with fearful
tales ,
While these conditions continue 10 be- the
principal features of the stock Market ana a
majority of commission brokers continue 10 offer
advice which aids the stagnatlon. the railroads
and 1hc Industries of the country are MOVING
steadily forward i'm n progressive prosperity. inst
as if there was no such place IS n NcW-N0rk
Stock Exchange i'm existence The mcmpers 0l
the Ncw-NOrk Stock Exchange IN Old times used
to boast of their ability to discount the future
on either side of the account such has not been
the case during the last twelve months. As -
rule they are still looking back 10 the period
when the BURLINGTON and Quincy management
entered upon the waTpath To rule or rum IN"
hears at every turn the same old talk oi what
the results Of the railroad business were IN lNNN,
or even as late as the spring ol lSS". u" cur
rent reports some of which are almost phenom-
cnal i'm their progressive gains, have no chcct
with Wall Street folk The fact that the credit
balance Of the United States on the merchandise
and specie foreign movements for the slN months
TO end December 81 viii Lc something over
$9j,00O,00Q, against 81 4,,Ooo.ooO IN me core
spending six months Of lNSN, ava less 'ian
50 OOO. 900 i'm the corresponding slN months ot
1887. does not concern people who want 10 know
nothing beyond what the quotation tape telS
them But 10 the buyers Of stocks 'who. during
thc last twelve months. have been th" principal.
yet transformations. factors IN the market; these
things are y study. and therefore this class Of
people are uninfucnccd 10y the frequent hctlOns
which the stock t1pc tcIS
Tie Ncw.Nork Central and Hudson River Com
pany's report for the scar ending December 30
for the last quarter of the year were - ,39F.13s.
AGAINST the estimate for the quarter of ; ,OS9,-
O0O issued i'm the middle Ct September IEc COM
DauV's estimate for the quarter 10 end December
81 is 81. .465.111. II is not 10 be expected that
as large an error occurred i'm the last estimate
as there was in tie previous one hut II Is 10
he noted that the company's quarterly estimates
have USUALLY i1lcn bclOE the actual returns. The
Pcnnsy vania Railroads returns for the month
of November. published iu Saturdays Tribune
gave q cain in net earnings for the month oi
S2GI 900 upon the main line and, including its
Western leased lines q gain Tor the month
Of S54l. 900, ard for the eleven months @1in of
- 80. 900. and This despite the losses and cN
traordinarr expenditures incurred bV reason nl
the ,Jonnstown food. Norfolk ard Western re
turned g9in in net earnings for November ut
Sj.i 0G0 or over %j per Ccnt and n gain for the
cent. Ncw-Norf Lake Erie and Western for
November returns gain of 500 0H0 NET on IFS
own line. and. dcducting proportions due 10
easrd lines gain OF 81 900 The net gain
for the two months Of its fiscal year is Sl24OO0
or II thp rate Of $4,000 per anuum. which
would be S264 600 more than the sum required
for dividends tie preferred stock Union
Paciic'S report for November on the principal
portion Of lis lines returns loss IN its Het
earnings II SO 00O because of an increase in
operating expenses OF S?l9000. due to cNtraor-
dinary expenditures. But for the eleven
marked feature in ali the railroad returns Of both
gross and ret earnings Is tHat the iuprovcmc Is
seem 10 be progressive. despite Of high rates for
money ~ the stock Exchange and IFS ruling
pessmiStic sentiment.
Following is oar usual table giving the number
and final prices Of the week together wiki the
final prices oi o week ago. proiixc! hy the average
prices OF December -, 1883: