New-York tribune., 1891-08-25
CLOSING PRICES OF BOSTON STOCKS.
Boston. August q. 1891
LAKE SHORE EARNINGS KEEP UP.

Monday, Aug Pap m.
In our tables Of railroad earnings will be found
the returns of the Lake Shore Company to the
New-York State Railroad Commissioners for the
quarter ended June 80. Taking the previous
quarters returns, we can approximate the results
of the first half of the fiscal year. 1t will appear
that the second quarters earnings show substan-
tial gain over the same quarter of 1s90-almost
sufficient to wipe out the unfavorable comparison
made by the first quarter of 1890 with that OF last
year. The half-year of 1901 shows loss in net
revenues compared with 1890 of S46,307, but
first charges were reduced $2s,os0, that the
first half of 1891 gives surplus for dividends
only $l7Sa7 under the surplus for the correspond
ing period of 1890. In studying these comparisons
it must be remembered that 1891 gives the results
of a season affected by general failure of crops
With Lake Shores earnings in the poorer half
Of I891 about equal to the same half-year of 1890
lin which year per cent total dividends were
paid) 1t is morally certain that not only may Lake
Shore be safely assumed to be siX-per cent
stock, but the promise Of great traffic in the last
six months suggests o possible larger return to
stockholders. The following table gives the total
net revenue sharges and surplus for the first two
quarters of Lake Shore in 1890 and 1891:
TOTAL NET REVENUE.
g:ssss sss:. s5s ss Sss$s
,4B2 e51 f83S66i4 Dco. Sio,5O
FIRST CHARGES.
Esssa2 Es 'Ssssi Dss ss
Half yesr.-..s2IA,5sa s2,i2S coo Dec s28, $50
SURPLUS.
:s 'Sa5 $685. Rss I%
Halt year.. ..s1, aO5 si.ael, ,oss Dec. sI7 S27
WHAT WAS DONE IN STOCKS.
It would have been In keeping with certain in
Hua
reaction so generally expected The bank state
ment of Saturday furnished an excuse for talk
0eS aeS e ess & the %
opportunity to attempt q crop scare. But the
Street fortunately had expected an unfavorable
bank showing, and looks TO see further drains
by the West to move the products which Europe
needs so badly. In the other case, the advices
were too uniform as TO the insignificance Of any
damage done by the frOsts, and the grain specu-
lations were evidence that the brilliant outlook
had been unimpaired The fractional recessions
In prices at the opening were due to London
selling orders but these were executed with 80
little effect that the foreign element withdrew
to wait for better prices.
For the rest Of the day the market slowly
hardened, and the comparative lightness of the
volume Of trading was due more TO a scarcity of
stocks offering than to the paucity Of buyers.
Particular strength in the .Vanderbilts, led by
g., c., G. and st. Louis, in Northern Pacific pre-
ferred and Missouri Pacific, resulted in net gains
of ! per cent and more. Even the Grangers
showed little disposition to proOng the rest from
Uhelr late DuOydDCy. bOck lSlanu maue u HeO
advance of ! per cent The revival Of interest
In stocks not SO prominent heretofore Is logi-
cal sequence Of returning confidence. II in
vestors and spectators are TO discount" the
promise of better net profits they will not confne
attention to one class of stocks however manipu-
lation or the exigencies Of short interest may
nave given them prominence at first The whole
list made substantial improvements, although final
quotations were not up to best points. The rise
was so quiet but persistent that 1t may signify
the decision Of would-be buyers no longer to wait
for reaction earnestly worked for, but pre-
vented by the absence Of important selling
THE DAY IN THE BOND MARKET.
Government bonds were stronger in tone. al
though there were no sales at the Stock Ex-
change Bids for the As were advanced l-2a3-4
per cent, and l2 per cent for most of the cur
rency issues. The revised quotations were as
follows: