New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-02-05

York and that while local item VIII DC. III
some cases investigated before IL is sent out, d
Chicago dispatch is put on the wires anu III M, Spc
without thought of its authenticity. we 40
not hesitate to say that 90 per cent OF the
Chicago dispatches furnished through wan
Streets squirt guns concerning railroad news new,
during the last twelve months were never con,
hrmed IL they had been not western railroad
to-day would he out OF receivers hands. Ana
vet brokers continue TO pay for the puDIcatlon OF
theories and false news intended 10 uIIns . ilio
customers away, and to wonder why speculation
The Chicago and Illinois stocks lately, have
been specially weak They little wniie t 40
were bnlled on false reports that the VandeTbllts
were buying them. We never printed TINS; iheIe
is bad lot in that company. After that lot
had successfully marketed Iarge a.u oo W
an opportunity TO have a strike In the mines OF
the Chicago and Indiana Coal Company pare
Of the consolidated system. The strike came OH
according TO appointment, ana the price oil
Chicago and Illinois under reduced earnings has
declined more than is fully proportionate WIN tn
the loss of earnings The fact that one Oh Inc me
lex the Vanderbilts of Chicago aud East Illinois
has made il easy for the bears to RAID ROCK
Island stock. Mr.. Porter is quoted ny the lead
ing bear saying: THAT all the western
railroads during the last four months have been
making false reports of their earnings, and now
they have got to equalize them with the
facts" However true this may he OF
Chicago and Eastern Illinois, we do not believe it
is true of any other company And we do not
believe that Mr.. Porter ever made any such state
menr Nevertheless il is true that on this report,
Rock Island with which Mr. Porter is intimately
connected, has been sold of per cent ana eAerted
baneful influence on the whole market. They
say Mr.. Porter is going TO California TOT resi- esq
Nav he stay there for the rest Of his life is the
prayer of legitimate Wall Street spectators,
Chicago piled Wall Street squirt guns all DAY
with dismal dispatches, foremost OF which was the
probability Of no possibility Of a reorganization
of the Gentlemcn's Agreement" THAT is what the
funny Wall Street news agency calls ltl ana YET
with these dismal prospects even the ChlcagQ,
Burlington and Quincy Railroad declares dlvl-
dcnd of IA per cent for the quarter ended Jan
uary II, 1889. Has the management of that old
conservative corporation suddenly turned from
pessimist to optimist? If the extra dividend OF
IA per cent for the quarter was declared after
the board of directors had read the news p of
Wall Street for the day. il certainly is cheering
indication. We hope the dividend was not de-
cIarrd without a full knowledge of what Mr..
Cammack Mr.. Jones and their Chicago News
Bureau" think of the situation. If it was done
without that knowledge there may ne Impending pen I'M
are not sanguine. When the two great owners OF
the railroads of the country are DESTROYS of sell,
ing their shares little fellows would better stand
"'''' WHAT WAS DONE IN STOCKS
To-day's stock market opened weak in prices
for the general list, simply because 1t was ralded
from the start. The situation OF the bears lelt
them no alternative except TO follow up the
apparent advantage reaped from yesterdays forced
declines. natural opening at l-4al-2 per cent
higher than last evenings DgufeS was certain
ruin while continued marking of lower prices
held out the hope that long" stocks might be
brought to market. 1t a delusive hOpc-a
beacon that brought the bear craft nearer to
the rocks of perdition. Excepting in the coal
stocks Except Central Of New-Jerseyl, the fore
ing of short contracts on dull market was
simply the continuation of yesterdays operations.
Rock Island, which recorded the largest business
of the day was sold down 10 % l-2, against
% rs last evening. But as sample OF the
market it. recovered to "a l-4a94, Burlington
and Quincy, which late yesterday sold down to
IO6 5-Sal 06 "a tall short salcsl to-day, after
lO6 3.4al0s - called, " weak at lOS 3-S
at the close Delaware Lackawanna and west
ern and Philadelphia and Reading were incon;
veniently stroiig all the way out. But central
of New-JerSey declined from ll9 TO ! 10 IL ana
closed at 1l6 "a. We are not inclined to give
points, although we did when Central OF New
Jersey was selling at l21, but from what we
learn Jersey Central will do 70 watch AT between
l15 and 1I6. The whole market closed strong
with generally the best prices of the day bid.
THE DAY IN THE BOND MARKET
The Treasury purchased S2l 1000 bonds;
nor cents 81 600 at IA and l-2 per cents
Sl1O 600 al Oh 5-S. At the Stock Exchange the
per cents both registered and coupon sold
at 1913 l-4al 90 3-S. We will be excused for queS-
toning the policy of the Secretary of the Treasury
in favoring depository banks in the purchase Oh
the As from them at 1914. He buys the As
from them at 124, while other hold
ers have TO accept % IA in the open market
M fol-