New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-02-28


Pennsylvania Railroad is printed below. In
Guiding the profits from the Western lines over
interest charges and dividends on these lines, its
net income was sSil,ol7 greater than in January,
1889, and $4,000 greater than in January,
1883
The Norfolk and Western Railroads state
ment for January, printed below, shows a gain
in net earnings OF ISL ,o0S, or over 73 per cent
on the net of January, 1889, and gain OF
S33,i42, or II per cent, on the net of January,
1888
Thirty-two railroads thus far have reported
their gross earnings for the third week in Feb
Iuary. Thirty of them showing gains return
for the week OF this year S2,9ls.l5l, against
S2,477 ,ooo-an increase Of S44O,l6l, or over II
| per cent, on the week OF 1889 and the otler
two return $1,000, against Sj5,40s-a decrease
| of S2,564, or less than per cent, from the week
| Of 1889.
WHAT WAS NOT DONE IN STOCKS.
| II is much easier 10 tell what was not done in
stocks ,ay than TO pick out the genuine trans
actions. Practically nothing was done, outside Of
| q manipulation intended To disgust all holders Of
| securities II is idle 10 discuss the speculative
situation With such facts as have been already
presented relating 10 the foreign commerce Of the
| country and 10 railroad earnings, that three or
four large operators can, even for day, make the
nominal value Of securities, deiies comment. The
| anomaly presented only requires recognition 10
| establish the fact that something Is wrong in
Stock Exchange methods These methods do not
affect the earnings Of railroads, are they of
| particular interest To the holders Of securities
| who have paid for what they have purchased.
| But To the members Of the Stock Exchange who
look To n speculative public for their bread and
| butter they are Of Inst importance.
We congratulate the members that there
| are indications that there Is tardy
| recognition by the governors OF the
| necessity for restraining some OF the license
| which has been INDUCED in for manipulation.
| The occurrence OF to-day, which Is related In our
| local columns was nothing new. IL has been time
| and again repeated. perhaps in milder ana more
skilful form. without attracting the attention or
the governors The grossness OF to-days opera
| ton in New-lork and NewEngland stock which.
| however, Is only the natural grOwtls OF previous
license. too apparent "a pass without notice.
II differed. however. from preceding manipulation
| only in its bungling
| There was some little buving OF stock, additional
| to Yesterdays, for keeps, but the besrs' con-
| tinued in full control OF the speculative market,
although it. is noticeable that generally prices
| have not gone lower than on Monday In the
an attempt 20 tire out holders ny holding prices
down against conditions that should create buoy.
| ancy To-day IT. was Union Pacific that was spcc-
| tally attacked. and that on n reported snow.
| storm its line. or course every one knows thi.
| is the first season there snow on the Union
| Pacific line II was sold OF TO 50 3-4 and closed
| with a recovery OF only l-S per cent at So 10
| The general market closed about IA per cent
lower than last night, but there were exception,
Of small gains, among which Erie, with an adj
vance OF IL per cent. WAS conspicuous.
BOND MARKETS.
The Treasury purchased S33,900 Il.2 ne
cent bonds Ut l04 6-a. At tha Stalk Exchange I