New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-07-25
orns1SG PRICES OLE PHILApELPHIA sToCKs.
THE RECENT RAILROAD TRANSACTION.
Wednesday, July 24-p.


II now is in order that some one should obtain
a National reputation by giving forth renewed
howl about the wickednesS Of Trusts The
rocent transaction in Chesapeake and Ohio new
stock. by which the control of that property I'M
Gliding Richmond and Allegheny falls into the
hands controlling the new consolidated big
Fouro and into the hands which control the New
York Central and its Western connections, the
AXE Shore and Michigan Southern, the Michigan
Central and Canada Southern companies, GER
tainlv threatens the liberties of the people. Inc
transaction referred to probably foreshadows the
consolidation of the new 4" Big Four with the
new Chesapeake and Ohio. When this Is ac-
complished the liberties of the people Will De
threatened to the exact extent that they Were
when the New-York Central and hudson RIVER
railroads were consolidated IN 1859. ohce low
the rate per mile on freight has been reduced Iro
88 cents to 079 cents per mile. his Is uerrl-
bc hardship for the public to fear, DuJ 40 the It,
duced ratcs the New-York Central Is earning
Ircer honest per cent on its stock than 1t was III
$3.50 and 1852 when it credited to net earnings
Tho SIMS received from premiums on safes Oh lu'
: per cent bonds and from the sale OF olu nl9
teriaIs and charged TO construction All ieheW3@IS
and issued therefor its consolidated Dohds' no
Tribune stands to-day exactly WnetJ ~ 10 n"bIic
1850 and 1852, when it labored Wlth the puG;mo
ia induce peOple not to be deceived lhIo puS il'5
New-l orll Central at l3Oal5O. III the New io i
Central accounts had then been kept oh tb 5nU
system in vogue to-day, the dlNlHenus Unou
would have been per cent, perhaps ~
casonallv per cent instead OF per cent anu o ,n
bonded debt OF the company at least s-o,VVY9iVy1
los. than il is To the surprise Oh every IN
20, mind fine growth of the country has exceeded
lie expansion OF New-Nork Centrals deot' isSueu
i'm those days to meet the requirements vi H. IT,
cent unearned dividends. 30 1t Is win az IN
properties The consolidation OF railways, nne
The institution of trusts IN lndustfal Snlcl
means economy IN operating ana reit Oe p 10
consumers or shippers. Leu US now" now, 81 porei
GanlQrs md National banks, Who 1or Inelr
special interest, issue circulars oil mlSrePreStin
tons TO force the Government TO purc.hso i,5
unsuitable Government bonds at above marheC
quotations.
WHAT WAS DONE IN STOCKS.
To,day's stock market was void of any new;
specal features. 1t was purely OF prolesSlona i
| character In the early dealings prices were
| Sibcr because there was demand from the
| traders to cover short contracts. Inc Erser
! :. Lcpr.H stood aside and waited for TINS Pro
fessional demand to exhaust ITSELF ana tIen I'LL
! their usual courage attacked dull market lhey
! raid special attention TO the coalers. lhey sold
! Philadelphia and Reading down from 10 IL 10
a 81 because II was adnltledLeVery onc nj, ~, II
! it-tAot the June statement Of the company Will
| rcacct weeks loss in output OF coal occasloned
! bv the floods One broker ~ reported as having
sold and washed 10000 shares, whcn Is on .h To
The total transactions in the stock but AFTER the
raid the price rallied to Al l-2a44 Ia. Yet at
the lowest price We ,, tail to .sb per-
/ - made at AZ 1.S7 private star-gazlng
feisscope perhaps may reveal the dividends, put
thew are invisible to the ordinary sold-sReclacled
operator The raid on the coaiers IN duI nirHet t
cFcrted n decreasing influence on the general list
in a duh market, and prices at the close generally
| show some fractional declines from last evening
| Vel considering the dulness ana the tremendous
enort, put forth TO depresS values we are con-
strained 10 call the market strong at the close
THE DAY IN THE BOND MARhLI.
There were no transactions III uOVerhheh6
| bonds AZ the board and yet the nominal Dlds tor
the 4 Der cents are held ii lper cent above the
| ,rice ~ which $1,000 to-day were offered to the
| Treasury We wish to advise the country that
| il cost only is per cent COI---.-slon TO supply
bids nj the Stock Exchange. The maj nominal
! ,,totatious are as follows