New-York tribune., 1890-06-17
CI]oSTYG TRICTS OF PHILADELPHIA STOCKS
TIE STOCK MARKET.

Monday. June l6-p m.
The plan for the reorganization of the Oregon
and Transcontinental Company is printed else
where. The capital stock of the ncw North Amer
lean Company is authorized up to si0.0oo,O"o
but the immediate issue will bc only SiO000,O0O
for exchange. share for share, Of the Oregon and
Transcontincnta stock. Holders Of the Oregon
and Transcontincntal stock are invited TO eN
change the old for the new stock; but II is pro-
ViGcd that stockholders who do not exchange
within thirty days shall have their share Of the
assets of the Oregon and Transcontiucntal Com
pany either in kind or cash at an appraised val
uatiOn. At present market value OF the Oregon
and 1ranscontinental assets the appraisement can
hardly be under 50 per cent for the stock
The dulncss at the Stock Exchange to-day was
Oppressive The total transactions in stocks
listed and unlisted aggregated only 10l.5 500
shares of which sugar Rcnuerlcs furnished 2',OOu
shares Aside from the causes leading 10 this
extreme duinesS which have been pointed ont ID
this column, the action Of the Lake Shore anu
Michigan Southern Company III the cutting ol
rates was an important factor. The cast-boun1
railway shipments from Chicago Last week
amounted TO 57,30s tons Of dead freight agWnSi
80. 81 tons in the same week OF last year. Ana
yet the Lake Shore Company persists in The face
of this large business IN wasting not only It's
own but also the revenues OF all the Other INES
40 wonder that the coWmOn question OF the
street is " How low must the price of Lake Shoie
stock be forced TO enable its president 20 rccohp
his stock ?'
The forcing process, however, is more elective
in creating dulnesS than in marking declines III
values. The good stocks are not III the Street
TO he dslOdged, but are held by people who know
and comprehend that even bad manaeement can
not long prcvail' against condition OF general
prosperity. Another question Of more serious I'M
r0ft is beginning 10 be asked DO the Wander
hts control the Lake Shore management or does
President Newell control the NandeTblt>s Pco-
pie are investors in Lake Shore stock because
they have faith in A Vanderbilt mann cement
80 one ever purchased 100 shares Of the stock
on Mr. Ncwclls management. unless y was on
speculative point for q turn IN the market.
The market genera -, with IL supreme dul-
ness. after fluctuations that hardly exceeded %
per cent, closed mmatcrially changed from thc
opening prices and dull and steady
TIE BOND MARKETS
The general bond market was unusually qulct
but withal firm. JhcIe was special ica' uIc'
except the decline III Philadelphia ana kcaIlhS
t!ird incomes TO 45 l-2 Richmond and West
Point collateral IS Grmer at IS IL no
Grande Western frstS were mp N - - ErIcI-
cnce is made TO our full report Of bond sales.
The business in State issues was covered ny
small sales of South Carolina 6s non-fundable at a.
Of city bank stocks American Exchange sold ti1l
at l62 New-Nork t22j al $50, and western
National .21e at 107 1-2alOs
The Treasury purchased S65,300 per cent
bonds AT % and s. 600 20 per cents at lo"
Al the Stock Exchange no business was done IN
Government bonds. The quotations are as fol-
lows