New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-07-10
CLOSING PRICES OF CALIFORNIA STOCKS.
Son Francisco. July 8, 1891.
Thursday, July 9-p. N.

Tho directors of the Louisville and Nashville
Railroad at meeting to-day declared cash
dividend of 2 1-2 per cent from earnings ol .iie
baIf-vear ended on June 30 This makes ule
dividends for the fiscal year per cent IN cash
although in the previous three years surplus
earnings were distributed in stock Inc pre-
liminary statement of the operations OF the lo'u
IN the wear June estimated must be considered
bioblv satisfactory. The net earnings were less
than in the preceding year. but larger than tho7e
of 18ss-'s9, but this loss was more thin oloeC
nv the reduction in first charges ana loss on
auxiliary lines. Perhaps the most laVoi"Oie
feature of the statement is the evidence tat sone
of the branch lines are now source OF income
The ratio of operating expenses was higher IMAM Ii
the previous two years, being 6354 per cent,
AGAINST 6059 in the preceding year, and
6O. 80 in tho year before that The earnings III
the last six months were somewhat less than III
the corresponding period year ago, but the al
ferenN was very small The net earnings
mile were $20SG, against $3.50 Ill the pfeceulns
year. .. % .ho oncro+ions
ofsthe company for the last three years:
BUSINESS FOR THREE YEARS.
Years ended June 30 ls S2s; 4 l$20; 9 1S2
'YGiSSSSS3
Net earnings S19S1o s74 2g 81 eO SSi 3 325
roto, yevenue....... Sc 0504l9 ssOe56o7 e7col2 SG
FRS. charges S5O0s COS s40224l5 a4,O10,OlO
LY 3iSss.. on auxiliary e228o1 277,5lO 10000
Net ,synue 81 81 SSS SsS
Divldends .....-..-''..- 1'o'f'0Oo -I o -
eurr,us s126.2I3 s459159 sls2,9iO
In considering this statement 1t should not be
| FORGOTTEN that the dividend in 1889 was per
cent in stock, and that of the per cent PAID IN
the following year only Ito per cent was pald
| in cash. The surplus remaining is larger, now
| ever, than in the two preceding years
| WHAT WAS DONE IN STOCKS,
The stock market was little more active
but only at the expense of prices. About one
| half of the total business was in three stocks
St. Paul, Burlington and Quincy, and Louisville
| and Nashvie-and, as they were the most active,
they were also the weakest. Their hnal losses
were about l per CENT Dut IOr inc , wedhhe 80
| Louisville and Nashville was the more mex
| nlicable because the full cash dividend was an
| nonnoed before the close of business The rumoiH
about resumption of scrip dividends were IS set
| at rest for possibly another six months. Inc
declines In the Granger shares We're caused nelthei
by bad reports about crops nor by rumors about
dividends or traffic rates. The movement was
fairly uniform, and Missouri Pacific, on sales Of
about 500 shares, lost more than 81. Paul. IN WhlcL
the transactions were nearly $4,000 shares. UnloI
Pacific was pressed for sale in a quiet way, ant
offers for Wabash preferred were not rejected
The specialties and" industrial stocks were weai
if they were not active and, as rule, the las
prices were slightly above the lowest.
numors of fns shipments of gold were set IN
motion but they were an excuse rather than
cause 1t is not improbable that further eX
morris will be made by Saturdays steamers. Du
the declines in stocks were affected no more by
this possibility than by the selling for the shor
} account The market suffered simply from lacl
of buying power
THE DAY IN THE BOND MARKET.
, There were again no transactions in Government
I, bonds but the market remained strong, and bid
for some of the currency issues were raised furthe
Ia and 1-2 per cent. The last quotations were al
? follows: