New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-02-08

CLOSING PRICES OF CALIFORNIA STOCKS


The official report OF the New-lork Central
and Hudson River Railroad Company to the New
York State Commissioners for the irst quarter Of
It's fiscal year-OctoOcr | 10 December 81, 1855
shows net earnings of I.jl per cent for The stock
Therefore, after the payment OF per cent divi-
dcnd, the surplus carried forward 10 thc credit
Of dividend account is Sl52,20l. For the last
month Of January the gross earnings were
S2l3,256 greater than IN January, 1889.
WHAT WAS DONE IN STOCKS.
There was more than usual activity in to-
days stock market and the reported transactions
in the listed department recorded 2ii.'Jy shares.
against l64,7i5 shares yesterday, and l52,Vo3
shares on Wednesday. But Il Vas the exceptional
dealings in Philadelphia and Reading stock that
contributed largely 10 the increase III the volume
Of business. The transactions IN that stock
amounted to ll2,OOO shares, against Jl,lO0
shares yesterday. The cause OF the larger busi-
ness in Philadelphia and Reading was a sudden
awakening on the part of some OF the bears '
that the late purchasers Of their contracts were
stronger than they, and for a time there was n
competition between them and those who are
buying Tor control. After the stock had risen
from a. II to ~ IA, the market was given to
the bears and they In their urgency carried
the price up to AZ IA. The realizing sales OF
promiScuous tnderS supplied the urgent demand,
And, as probably was expected by the interest
seeking control, the early buyers Tor the short
account later were again sellers down 10 ~ is
al the close. So the stock shows a final gain of
only is per cent, with the short interest IN
IL probably as large as, If not larger than. ~
was last night. II tie interest in the stock was
interest only n speculative deal, they had and
have the opportunity L. name the price at which
every short must settle. But that Il not their
purpose they want large majority of the stock.
and il is more easily purchasablc from shorts
than from the real holders of certificates
The days episode in Philadelphia and Reading
stock fairly illustrates the general condition Of
the stock market The buyers are not spectators.
Their interests 80 beyond any calculations of a
squeeze Of the shorts or a "COrncr' In this or
that stock. They buyers for keep and
that is the one thing that the great speculative
spirits of the Street refuse 10 accept as Gospel
truth. 1t certainly is hard lines, if when We
control the manufacture and interpretation of
news we cannot rig the market 10 orr purposes
Nevertheless, gentlemen you are presenting 10 the
public nothing except miserable failures ana hclp-
ing the governors of the Stock Exchange u
destroy that institution As a speculative mart
To-day there were Just 200 shares of chicago
and Northwestern stock sold 100 AT To- IL
and 100 at ll0. Both sales were made by The
same Board-roOm trader who a little time before
had been n buyer for the short account of
Philadelphia and Reading NJ As IA. There was
little, but not much. weakening ~ the snort
interest in Rock Island The followers of the
bear" crowd ceased TO follow. and nothing except
wide distribution Of strictly private points pre-
vented a stampede among the recent pronllScuous
short" sellers Of that stock; but with transac-
tions in only 900 the stock closed within Ia
per cent as high as il opened Wednesday, when
the reported sales and washes Of 81 600 marked
the price of from % TO 81 IA.
The general market was dun with small fuctua-
tions. hut more inclined to respond 10 the true
situation than TO the local peSsmistic views of
the Great Operators The market closed strong
TIE DAY IN THE BOND MARKET.
The Treasury purchased $4,000 bonds
per cents 81 90 600 at l2I. and Al? per cents
Governments at the Stock Exchange. and the
quotations were as follows.