New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-05-07
CLOSING PRICES or cA1IFoENIA So Ks.
L-A----- W o = 4
rnnADELrMIA CLOSING rRCLs.
THE SPECULATIVE SITUATION.

IucSGdN, May up III
For long tine when occasionally we nave
diagnosed the speculative situation at tie STOCK
Exchange We have insisted that the outstand-
ino short" interest was very large. Ihe aSscI-
ton Ia, always been denied by tie young writers
who reject the wishes 0! one or two or three
specula.ive Offices Yesterday furnished the
third example Of the short interest Of reported
small operators that was not suspected. y mem
Der OF the Stock Exchange who was hardly
known by half the members and by those VINO
did know him was supposed 10 be trader III
900 or perhaps 1000 shares Of stock. IN MS
misfortune developed /" short interest exceed
ing 10000 shares. This only shows th''
opinions formed from a careful survey OF the
whole situation and facts derived from t"r
whole market are more valuable than those OBJ
tanned exclusively in Offices devoted 10 q special
speculative interest
That the general short interest. not Of I'M
known spectators. is still larger. the following
from publication OF yesterday clearly eSab-
fishes: ~,
The vice president OF enc of The leading West
crn roads says il may s''m strange. bnt IL Is "
fact. that there has never been tlnr Wh''
there was more buying Of business ~ the west
crn lines than today. Atchison Is partlcuIaill
al fault IN this respect. That IS fhc real sec!"'
Of c-PrcNidcni Gpddord's ,csienluon. ihe
AtcLison people are MOVING LfuNcn ana earn
10 make big Ei0so canning 10 help along ti'H
reorganizatiOn. They have simply told their pres
0cni that lie must roll ~ ~ 2io5, earnings
nn matter how he gets them. his he Is dOlhS
Mr. Gould is not buying business. We are al
satisfied on tEat point; neither Is -. Pau. non
Chicago and hlion. 49,. The rates al "h'h
thr roads are doing busIncfs are runous. ''iosS
earnings are very large. but net frigl'iGl III
r. IS simply pitifnl that tie publishers OF this
,,raroc rlgnarOc had not learned by IL" experience
a. mo last three wccnS that the sayings 81
..,ronvmous" officials pass for naught. HE
rates al which the roads are d,ng business are
rninnrs Gross earnings are very large, bul me-
.,re frirbtfuP in comparison Go Ia, silly pan
s.. a happy appendix 10 the special reference 10
,,a ,,chison Topeka and Santa Fc rolilnG mp
Lig cross earnings at any cost, that COMPANY
,n dny pnblishcd It's regular monthly report OF
"ot earnings for March. The gross earnings %
,T ' wholc system IN March, 1890, were $G'O.2'o
o,,o Than in March, 1899: tie operating cA-
n,scs were 81 81, OF . greater ana the net earnings
inrc e;IIs?59 sreatcr. If that j. th" result o.
'" SIM gross earnings mo matter hoW got
pn, e,tnckholders of Missouri Pacific would better
VIZ - barrel Of the same brand Of whiskcy I"
III managers, who are paradinG in airy suns
't ~ ;i telling of what they viii and viii mol
do What fools we mor'ais may be- II W. "'''
big heads. I'M. c ,, v, Vrl Central and
,,,IIso Piycr Railroad for April, reported Ic
i'u'' NOT turn out favorable as cNpcc,,r"'
low, Low ;, Tor the month is only $3.50, 6"'. ire
me go :" onparcnt. ms il should have been WIFI
!ro"o oe,nate based on the three weeks gam ""'