New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-02-26
CLOSING PRICES OF BOSTON STOCKS.
Boston, Feb. IS. lS9
WHAT WAS DONE IN BONDS.
Tuesday, Feb. 2j-p. n

Tuesday, FEB. 2j-p. m.
The January statement of Cleveland, Cincinnati,
Chicago and St Louis RailrOad-Big Four-prIntcd
in The Tribune this morning. completed the first
seven months OF consolidated company. The net
income for tie month of January, added TO tie
Official returns of tic preceding six months, gives
the net for seven months as s., G3s isl. The
first charges of seven months, including dividend
on the preferred stock at the rate of per cent
per annum, amount to 81 200, leaving the net
earnings for the common stock in the seven months
at S643, 9s4, or 3.43 per cent, or al the rate Of
53s per cent pei annum. The company paid for
the six months ended December 81, 1852, only
l-2 per cent-$3O7 ,50O-dividend on the common
stock So that in the seven months the net earn
inss over the II per cent paid and II per
cent for the current six months TO end June 80
amount 10 $3O,0S4. The prospects for the COM
pany's earning per cent on its common stock IN
its first year can be marrcd only BY some unfore-
seen calamity.
Yet Cleveland, Cincinnati, Chicago and ~.
Louis, earning more money for its common stock
than New-York Central and Hudson River does
for its stock, was to-day fair cXcmpfcatlon Of
the dulncss of the Stock Exchange, which permits
a handful Of value wIcckcrs to fix the market
prices of securities in which they have interest
except a short account-an interest to induce
real holders To sell that they may Iccoup their
contracts at 4 profit 1t, after an advance OF
- per cent to 60, closed exactly as last night
for contracts, at 81 Il.
thing Of a hurTah on the part oil
Chicago, because of yesterdays action
by the House Of representatives, on the worlds
Fair site. Every New-iorS novice knew tat
bulge in values on so slight prctcncc as that
could not be lasting, and both local bears and
" bulls"-whcre ana who are the latter SPccnla-
lively ?-kept their hands of till the Chlcago
excitement had subsidized. When Ii did, the
" bears put in some more fine Work, ana meeting
with speculative resistance In the last hours.
attacked prices, without selling any amount OF
stocks furiously, and left their trade mark on the
final figures.
This is all very well in a game Of bluff and
that is all the game is that is being played al The
Stock Exchange. To-dayS business IN the lStcd
stocks was only 1s3,0sl shares, against ?jGljv
shares yesterday. There was considerable shifting
of borrowed stockS--a returning and rcO0rrOWlng
bv other frms-but the stock loan market neither
inside nor outside Of the Exchange walls indicates
any LIQUIDATION Of the short account. II may
have been partially transferred from one operator
TO another, but 1t evidently is as large as If not
larger than, it was at the close Of business last
Friday.
jnr I'D OF many rates TO per cent. This prob
ably was not a prcmedltated scheme. The anxiety
of certain borrowers 60 get money Hat with
chrome thrown in induced them to refuse money
at per cent when II was offered, ana later, AFTER
that same money had been carried home Tor the
lack of borrowers, they found the market bare
of offerings 1t was fair game for the " bears
10 take advantage Of the unexpected, and help
their cause by bidding against the needy. They
did il iii the advanced rates brought money
into the market, and then they gracefully re-
turned, but they made money loan MP 20 per
cent. The market closed under the pressure OF "a
desperate raid at the lowest price Of the lay:
Why it should or could do so III the face Of
railroad earnings, printed below; is a question
respectfully submitted TO the Stock Exchange
committee on duincSs.'
THE DAY IN TIE BOND MARKET
The Treasury purchased S525,200 4 IL per
cents at lO4 5-3. 1t is now purchasing no per
cents either from depository banks or the public,
although at the Stock Exchange they are offered
at 1872 "a against "a paid by the Treasury as
late as last Thursday. At the Stock Exchange
500 l-2s sold at the Government price. An
neN cd arc tho closing quotations: