New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-06-02

fore the close marked tendency. toward hesyl-
ness was developed Yesterday the market was
absolutely weak and business done At re-
duction Of Ia cent Mt S4 81 and 81 So respec-
uVey for long and short sterling, against
e. ~ IL and 81 81 respectively, the rates OH
NEW ISSUE.
The New-York Central and Hudson River Rail-
road Company for several years has been expcnd,
ing portion Of its earnings for bcttemcnts ana
additional equipments. These extraordinary eX-
pcnditures have been charged to operating, en-
penses, and thus the net earnings have been
kept down to something over 4 per cent on tie
capital stock. The business of the company Is
Increasing so rapidly with the growth of the
country that it has been found necessary to MAKE
| further extraordinary expenditures III order
economically To handle the additional tratc: me
method by which the money shall Ne
raised for the additional expenditure, IL, Is
| still under discussion But, as we are unoihclallN
advised, the scheme proposed looks forward 10
| an issue of 81 .000,00O dcbcnturr bonds. @arlnl
| interest at a rate not exceeding ! per cent: II
| the question were submitted 10 the stockholders
| there is little doubt that their decision would
he an absolute protest against any furthcr lssuc
| of bonds upon the property, and IN favor OF an
| issue OF stock to meet such requirements as are
necessary, TO he offered 10 the stockholders pro
rata on their holdings at par The scheme w1nIn
| be wcll-rOundcd ont if il contemplated makhG
| the capital stock of the Ncw-(ork Central ana
| Hudson River Railroad Company a rounh StV"',
100000, the additional 81 0Oo,Ooo To ne oeIr3,'
| TO the stockholders the requirements i"r va,
! ditional facilities demanded. Tic Delaware ana
| Hudson Company in capitalizinG It's dept nv, ~.
| shares rs rapidly as the DEBT natures mas Iii
! an example which should he followed by an
solvent corporations President Roberts. oil tne
| Pennsylvania, several years ago snrd, III SUI, SUI
Stance, that when the PcnnSylvania system Ceas y
| to require new capital for extending us I'inlrH
! the decay of the system would begin. he rem
| sylvanla Company Of late years mas mace III" us
| new capitalization by an increase oil SHARES
| TIE WEEK At TIE STOCK EACHAN"t.
| The intervention of Decoration Day confined
| the business at the Stock Exchange Is' WccH
| within I'VE DAYS Ihe transactions OF ilstcd
stocks in those days 81, ,4Jo Shalrs' aE"i's
| ,9i3.6&O tor the preceding iu week ana III ,n'
unlisted department lo0.ou5 SHARES, asalhS. 0,,'
SO for the prece':-IIs week: totai, ~ .'oH'
shares against 100. 5o6 shares " SHOWN ~
the decrease OF S-,Gl3, 500 Al the htlk io1I> 'm'
purchases tor foreign and home investment c"m
| tInucd at about tn" usual ratio. hil Al Iir 9PN
iation there a halt-a continued rcall%"ti"I' W
| profits and a consequent protested chahec VI
sentiment the part OF NaderS VIM w.
| anxious to rccOup their saIcs al loWta pin,
| The old /" bear faction. notwithstanding ."'i
! they say for publication, nav HII 49, t,n ,rcek
their old outstanding contracts. f"r Iun Wy. V
prior to THURSDAY last they h3d been ''S,lE Wv
| market to find weak spot. Inc 0NcI-in'ui'p'' 10,
ton Of Sugar RciineIics which resulted III .i' ~"
unexpected decline Of aholt - per cen, irt",t ,
| the extreme highest ana the "hh""n''Icn
AT the suit in an inferior court ol a t"h-ShdiV
! holder of Chicago Gas stock, who virtually pray"
! that his stock might he declared Worlhi'sS' q "
ceivcr would be appointed ioI the c"IhpanN 49,
two things. they thought. h"d slNrn ,ro,n I, ,.'
| opportunity for grand RAID on GcneIh' Nm"9'
| and they went n their purpose WIN an ''i t,
| astic and strong DISCRIMINATORY Whi'n ~ "
| couple of hours was effective. on me qnot''""'
Of the Stock Exchange. nqucStl"n"DiN W ~
desperate raid there were s,.ia",i' 5c,r,ig,
ION There was n0thing IN even 1"r cN''on"
| declines which were made that was ihHs''l i.
! bull" tarkCIS, which have no over ,,,IHIN 'I.'''
the support Of speculative Interests. W M, "r
! unusual i'm the movement was the Ir'c,si,} 81
! circulating reports Of the death oil VI, I'1,e'
! who Is supposed - hold the Northern racine SNS
! fem IN the pa I'm Of lis hand. and the 'Nn"I 70
| u.ent Of Sir hccnc whose operations 1''H'' ~
Sugar RefneiScs have been w ono. hos-s
| Woo successful in creating IN" impression t'"'
The stock arkct was de;cndcn' upon the h"iiP'-
| Iot,on az any ono man. or Of any clique. ~" 'ih'
| would como when by false reports o. me "e' ih
ness on the part Of thr manpnl' Tor or maHP,".
Tors tic market would temporarily De- Ih '''I
! hands for a sharp and rapid depression IN P''''
Exactly what We predicted is what occurred
| las, Thursday. The rafting inrm, s'u'ir.. 40"
! hat sianifcauce and uo more. lh@ 'oI..r -.
| L,,r;,,.es dore in tho week closely demonstrates
| that such liquidation a. did occur was alh"'L'
the small traders. who were SimPn fo c,,tcr
| =, ohtain confirmation or contradiction. before
taking Of their MARGINS 10 dir "',e' ,icI
| small means il casr 81 cfuel'N' roy VIZ,
some one should he punished some on, @1r was 'nS
| author ~ the lie conccrnin0 MI NhlIn. an
| 80 ono yvo. the author ~ IN" liz relating 10
W. VIZ ,eF heard that the governors 81 The S'oc,
| Exchange have employed any of Inspector hH'
| IN ferret ont we NOllN r'IlVN
| The results Of 1huTsdoNS operations arc 49,
| tho succeeding rccovcrics, which wcr" comm,
| 80 Tbursdov's last hour and Yesterday two-r"urS
! hns;ress leave The prices generally lower man
,hoy ,verc n yecl; ago without Thprdnys IaiI
,bcre would 10 no significance IN ms la't"r ih"'
oftcr = few weeks stead appreciation IN Nalu't
| Considering Thursdays raid ana -" sho' h'IrS
| folIoviup H. the snallness ~ TIE 'rrlnrs Is slP
| riacsnt Of 2 market who's" iricre : strength j
a. little apprcciated now as il was SiN weeks ago
| ,,her the "henr" orgnu on SUNDAY ana MONDAY
| Toir nrsdictcd dire destruction ~ all holders OF
| certificates
RAILWAY EARNINGS.
The third week Of Nay promises 20 lc me banner
| wool, in railway earnings. The Trhun" mas
| nrlr,ed tho gross carpin9S - sNtvhve companies
| ~ svstcns for the third weck IN MAY. giving an
| .ggreoatc Of So Oal .g97-a gain o. SS25,'2N on
| 80 mo vcpL Of 1e-G. or 1913 Per cent III
! ,he total number siNty-onc companies report III
| overarc rain of i : per cent ana only four com
| oarioe rcport loses avcrac.nI 60 per c"i'
| The suhjoincd table divides tie aggregates ana
| differences showing gains and losses
| "A vco. In MAY 1859 le90. D'eroncec,c p,
~ o-norlcs s0l ~ - -i3 m IN .SiI 626 j.
| coTTraanie. $40 eas 33e 4ol De-. 81 sS' ="
Total A; comps IS 2CG 29o 81 o3l as Inc s2'72' ID"
Following j. our usual table. giving the NUN
ber Of shares sold %: nj stocks. the highest. 'o"-
es, and Gull prices Of the Wees. together with me
dnal prices u . vec.' ago pfeiNed by tie average
| priccs Of June o, lt1H'
WEEKLY RASGF.