The sun. [volume] (New York [N.Y.]) 1833-1916, 1891-07-26
BOSTON CLOSING QUOTATIONS.
PHILADELPHIA CLOSING QUOTATIONS..
LATEST LONDON QUOTATIONS.

SATURDAY. July 25.
The present situation in Wall street is Pc
culiar After many months OF dulness and
spasmodic liquidation. hopes had reasonably
been raised OF All improvement in the market
for securities. based upon prospective heavy
traffic returns from an unusual crop move
ment. But as approach is made to that move
mcnt distrust has crept afrcsh into Wal!
street. and fears OF renewed liquidation in
certain quarters are frequently expressed.
The fact that no efforts are made to repel the
attacks upon Chicago. burlington and Quincy.
Louisville and Nashville. and upon hich-
mond Terminal securities cannot but be
unfavorably construed by the average deaier
in stocks. 1t is argued. plnusibly enough. that
II those who are identified with the manage
ment OF any property are unwilling 10 protect
it In the market there is something wrong
with the company or else its managers favor
f. decline In the securities: and that is as bad
as II its physical or financial condition were
unsatisfactory. In consequence no one Is
tempted 10 buy. even though securities may
look cheap.
In the case OF Louisville and Nashville It is
understood that large holders OF tho stock
have DISPOSED OF q considerable rart OF their
holdings. with the view Of recovering them by
exercising the rights to take neS stock. This
is the only reasonable eaplauation OF the fact
tuo Tle nave Ueou III uouldHu eNeu LDOuEu
there has recently been 10 profit to the o d.
nary purchaser in buying them. The specua-
til community hns regarded Richmond Ter.
mina with suspicion Tor some time moro rar-
ticularly because the common stock did not
participate In the almost general Improvement
In the market last spr.ne. The prices for its
5 T. cent collateral trust bonds and its
preferred stock tend to confirm current
reports Of n fairly large floating debt.
1t Is we'll known that several OF its auxiliary
companies notably the Georgia Pacific. has
pletrd. and the deficit ha. been made good by
he lichmnmnid and Dnnyille Company. which
III Whs 81 s s rs
the L Richmond Terminal Company would seem
to Indicate thar no dividend will be paid upon
the other hand. officers OF the Termina! Com
pany assert that i is not likely to default upon
any OF its obligations. rs IL has tho money in
hand 10 nay maturin g coupons
The affairs OF the Chicago. Burlington and
tho Of any otb leeSnf more or
Der of reasons. In tho ir:t place the prestige
Of Le eompany was until a year Or 80 49,
and its stock as wei, as IFS bonds are VOL dis
tribnted throughout the Eastern States; The
from It cut in two during the last few years.
and during the same time the market value OF
tier reduction In the dividend and a further
decline In tie prlce OF the stock would be more
and s na9 shSD IN tho ds
velopmrnts that have mir nIIy taken place. 1t
VII BE- noticed that C. and Quincy has LED
cline VI five points. Friends OF the property
nsse,t that It is strong in res ources tia: they
tall, and that the decline In The price Of the
stock Is the lesul. Of nrarlsh ~ ;naninulat.on
par,iay correct q. to tho last sta omont but
i Is taxing creduiiy e ask one TO believe that
the benrS have donA all tho selling:
a good deal q damage aud loss; But they are
advantage Of, Whoever may b. selling g. i:
ana quincy short y the present. time did net
Brought ir rates al cvcr he Vest down 10 snres
Shss lie hsfs SsSa f
comnctiiye. ex'en-I9ns 4 the C.: Is. and
uney s Ssnds Sa hne Viii mnds feo "fg
That further issues 10 ,nse. The chances are
hat much Of TIE effective Ha ceiling In Of the s,9c
ubis extentio,ns 70 Ogden and Helena. Many
Sem nS i've ralwsy buidns q. ssockhoIdsrs
OF the, Atebson Compnny ana they are wiso
sn Tss ie a s u so.a.ss
hichmo1d Terminal at loss Of Y cent.
abs 10 That i showed . gain u lawful money
OF $780, 900, whereas u loss had been counted
larger owing partly to the increase lust noted
and also TO the decrease OF s.. 100000 In the de.
posts which reflects a contraction OF loans OF
nearly the same amount The banks now hold
nearly szhGiouoO In excess OF legal REQUIRE.
I the lowest prices. and with the street
thoroughly discouraged. for it sees that the
only aggressive party IN the mHrket Is working
! st"cks have one hing. \. viewer. to be thankful
! Tor. nam"iy: that the Weste' II railroads can
/ equipment, which would enable them to cone
! 10 Q more keenly with each other Tor tratlic
urey
As compared with the final prices Of last Sat-
portant net declines are In Chicaao BurlinR-