New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-09-17

CHICAGO GAS COMPANY.

Tho methods which for two years have been
employed 70 harass aud embarrass the chicago
Gas Company and the willingness Of Chicago
courts upon the slightest prrtext to issue IN
functions and to entertain suits which. on their
face, are venal, is likely to react upon not only
the credit of the city Of Chicago. but upon That
Of ell corporations within the state OF Illinois,
where the courts seem TO nc disposed entrriE 10
disregard the equities Of capital TO favor a sup
posed popular sentiment against corporations l<'t
il I've once understood that foreign invested capital
will not have the protection OF the courts. how
long will il be before Chicago again is prairie
beside the lake? Whether not 81 % for gas
in the city of Chicago is reasonable rate TO
charge the citizens has nothing u do with the
question II the profits Of the company are too
large they invite competition, and the field IS
open to any company that may organize under tho
general laws of Illinois All Of these suits, whether
instigated by tAn-sharf stakeholder, who buys
his grievance in the market a month after be-
ginning his suit, or by the City Council Of Chicago
for political effect, do not affect the property OF
the company or its earnings to the extent Of one
cent beyond the cost OF defence in the courts
The property is there and cannot be confisrated,
and on the report Of reputable citizens it ID
furnishing gas more satisfactorily than the city
ever before WAS supplied. II Chicago expects
and wants Worlds Fair in 1892 il is time for
itA officials and it's courts to desst from frightening
capital away from the city
TIE STOCK MARKET
Not till noon tomorrow will the Treasury open
the offers to it TO sell it $is.ooo,ooo
per cent bonds. Yet the local money
is instantly relieved from the extreme
strngency of last week. Was there
sentiment or not in the late silly scare on the
mopey question? The Indications now point 10
the full amount Of $eo,oOo.OOo 4l-2 per cents
being presented for redemption before the expira-
ton Of the option neat Saturday. As to to-
morrow's offers Of 4 per cents under the invite
ton for the purchase of 6,OOOOOo. II is too
the time 10 venture opinion: but we are III
clined to think that the offerings will he so
fill the bill. On September 20 or 22 the October
interest on the registered per cents. amounting
to $5,000,o00, will come out Of the Treasury, and
cause after the expenditure Of the present surplus
the appropriations will equal the receipts Of The
Treasury. Soon the return movement of money
from the interior will Set in exactly as il always
is usual at this season, that because OF redur
ton Of the Treasury surplus to n lower level than
it has been in several years past money will bc
month will add over $5,O00.000 new lcgaI-t"uder
money to the general circulation in the printing
Of notes to pay for the monthly purchases VI
there he Inducements to lock mp money ~ to
compel the Treasury to purchase per cent bonds.
because With receipts and expenditures nearly
equal. the Treasury Will have no surplus Will,
which to buy them. Probably never again will
the quotations for per cents rise on q stringent
money market but as rates for money Use the
price OF bonds will decline.
The stock market to-day opened higher than
ast nights closing figures, and II. subject 10
usual fluctuations made steady advances to the |
,losc. The Chicago Gas opened steady at ~, was
10 Ia, ffrun ia. hnt oil.
company promises 10 earn THIS year close
to 8 per cent, despite thc cost Of !
egal proceedings which blackmailcrs
feature OF 9TH the day was me late attack on Dea:
ware, Lackawannn and Western stock. With a
rush the price Of the stock was marked of from
nhcance in It's later recovery TO al 49, but there
is significance in the fact that the quick decline
VI per cent in the price Of the stock lad no
fleet on prices generally and that they made.
further advances in the midst Of the special
market The business In the general department
was :SS shares agSns' TO- 81? shares YES
against 3s,O07 shares; total. ?7oDil shares,
against 3o3,712 shares. The general market did
not finish with the highest records Of the day,
'ut excepting Delawam, larkawanna and West
.rn, the gains were universal on the figures of
asst evening and on the lowest prices Of Yesterday
'anged from TO PER cent The talk about
iquidatiOn Of :" long stMcks is as srnSclcss as
Vas the reoen, money scurc or course there
las been some Liquidation Of that account among
,oard room traders, but the short interest, on
|. decline of say average of 10 per cent huS
,ecn immensely increased. Holders Of cprtiti-
ates Of a month ago still hold them. and have
additional contracts. the delivery OF
Which will I've demanded 9oOn as the money
market returns 90 itS normal condition. The
ecline has been 90 slow and ihsidi0us that few Of
he operators who were sellers VI stocks to-day
,alize on how low bosis they are increasing
heir lines. The market closed strong.
GOVERNMENT BONDS
Holders Of Government per cents are reminded
hat Tomorrow "wednesday at noon the Treas
ry at Washington will open the proposals in
esponse to sell it $4,000, 900 4 per cent bonds.
nd Of the probability that between now and
he awarding OF those proposals 4 per cents will
ring higher figures than they ever again will
nrinG their life. To-day the market was steady.
nd the hesitation to advance quotations indicates
beral offerings tomorrow at l27 and under |
nnexed are the closing quotations:
. DID. Ash - bid. AJAX. |