Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-05

to be made by the annual report, but much
comment OF an unfavorable nature and consid-
paying dividends of only per cent a surplus
OF less than $4,000 is shown. The pointis
made that as its rates are now lower than last
year tne road must be earning less than the
amount required for dividends. The situation
Is made more significant from the fact that
nearly all the roads outside of the Western
ngntlng lines are showing handsome increases
IN Doth gross and net earnings as Indicated by
returns for May in to-day from the Iowa Gen.
IRA, chicago and East Illinois. WneeLng ana
Lake Erie. St. Paul, Canada Pacthc, Nor1oiK
is in Wheeling and Lake Erie. which is 40 per
cent hlgher than last year. Inc rate-cuttlng
western roads are still a disturbing element IN
W al street, and when the stocks OF those roads
hnd their level an increase in activity and an
advance in prices are to be expected. Inc
signs that the bear party was actively at worK
were most numerous to-day, and they Dougnt
stocks early in the day, but soon turned seIers
again, and Rock Island was the most prominent
object of attack. The Trusts were feverisn,
6utlate in the day developed stronger tone and
Sugar made handsome advance, the nrst IN
some time. Among the strong features Mex1-
can Central was most conspicuous, ana IL 1ur-
nished the largest amount of business In the
regular Ia List during the ferenoon d dne S oSs.agg Sag
upon the news that the company had
accepted S12OO0OOO from the Mexican
Government in settlement OF the sub
sidy claim against the Government. La
clede Gas was also strong on the
announcement that a continuance of the In
junction against the city of ST. Louis had been
granted, which preserves the revenue of the
company at its present height Late in the
day Tennessee Coal made one Of its sharp up
ward movements and Colorado Coal sympa-
thIzed to a limited extent. The bears gave up
the fight in the last hour. however, and the
market closed active and strong in the midst
OF substantial rally. The final changes are
in most cases in the direction Of lower figures,
but while Rock Island furnishes the only i'm
portant loss, being down II per cent, Sugar is
up 31S. Tennessee Coal 3E Mexican Central
~, Laclede Gas 15s and Colorado Coal per
cent. Railroad bonds were stronger than yes
terday, but failed to show any more animation
and the sales reached only 81. 1896 600 with SILL,
600 in Richmond and West Point 5s. The ad-
yances include Kansas City and Omaha firsts
to S6. The losses were generally insignif-
can't Government bonds have been dull and
steady. State bonds have been dull but firm.
The Post says: The short interest was largely
covered Yesterday and this forenoon, and is now
comparatively small, so that it is not unlikely
the market will be only dull and strong for a
day or two. but all the features of the railroad
situation are SO favorable that as soon as money
becomes abundant in this city, as it probably
will this month, the demand for investment will
put stocks again as high as they have been at
any time in the last six weeks.
The statement of the operations of the Rock
Island for the year to March 81 was received by
telegraph from Chicago this afternoon, and in
the disappointing character of the result sheds
some light on the recent report of selling of
that stock by people who had opportunities for
knowing what the report would be. For months
past it has been given out by persons intimately
connected with the Rock Island that the prop
erty was earning over per cent, and on these
representations many persons have held the
stock But now the annual report shows that
the company has earned only its per cent divi-
dend and surplus of $40 $50. which surplus is
only tenth of per cent on the stock. On this
showing Rock Island declined this afternoon.
and, measured by other dIvldend-paying stocks,
is not worth above so instead of from y3 to 81
If Rock Island can be taken as an index of the
recent earnings of the Burlington, that stock
is also too high, Notwithstanding that it earned
nearly per cent in 1889.
The following table shows the prices Of active
stocks on the New York Stock Exchange yester-
day. Corrected daily for 1HE DISPATCH by
WHITNEY & STEPHENSON, oldest Pittsburg mem
bers of New ork Stock Exchange 81 Fourth ave-