New-York tribune., 1891-12-31
CLOSING PRICES OF CALIFORNIA STOCKS.
San Francisco, Dec. 30 1891
CLOSING PRICES OF PHILADELPHIA STOCKS.
NEW.YORK CENTRAL'S SHOWING.


The directors of the New-York Central and
Hudson River Railroad Company, at the regular
ouartery meeting to-day, formally advanced the
dividend rate from TO per cent. They de-
clared dividend of IA per cent for the current
Quarter and. to date, the improvement from the
beginning of the fiscal year. special dividend of
ia per cent for the September quarter. The
stockholders will receive no larger returns from
the business of the half-year than they had
year ago, but they must derive satisfaction from
the official assurance that 5 per cent rate will
be maintained, and from contemplation Of the
earnings. The sta, ement showed surplus for
the quarter after the payment Of the increased
dividend, of $43l 903, against Sl67,792 year
ago. and for the half.year, surplus Of l,07sr
O5, against ,22 in the same period last year.
The net earnings above fixed charges were $40
per cent on the capital stock, against 2.02 per
cent. In the quarter, the operating expenses
were 67.26 pei cent. against 66.43 last year. but
in the six months, the percentage was 65S6, com
pared with 67.59 IL should not he overlooked
that the earnings for the present month are partly
estimated. The statement for the quarter 10 as
follows:
o...,,. BUSINESS nIs;IS Sss OF OF THREE MONTHS
Sps;sas s5ss 'Ss5s ss5ss 'i s
yss se: fs55:sS 'sis.5S ss5S .S:
DssSss. ssSS. s.rons $685. ssss gss 'iis es
u.ssss ss.1;s e, o ;SrSs: ;5 fss sS
WHAT WAS DONE IN STOCKS.
There was no radical change in the speculative
situation. No vigorous efforts were made 10 press
the reaction begun yesterday, and apparently the
sellingwas by tmid or necessitous holders. While
the movement of prices was irregular, IL was
generally downward in the early dealings and
after a virtual recovery it showed similar ten
dency toward the close There is no doubt that
the announcement Of the New-York Central diyi-
dend caused universal disappointment and the
unusual activity and weakness Of the stock un-
doubtedly were due chiefly to sales for the long
account 1t is not impossible that small short
interest may have been created in the afternoon
dealings, but the stock closed at about its low
est point with final loss Of 1-s per cent The
other Vanderbilt stocks were dull, but compare
lively firm, and Lake Shore was an exception to
though it's last price was below its opening figure.
| To what extent these stocks were supported 70
offset in part the selling of New-York Central
cannot be known.
Erie was by all odds the strongest and most
active stock. The fluctuations in IL were mar
row, and it closed a trife lower than 1t did yes,
terday, but it resisted stuoborniy the general nra
decline and the buying was of an excellent kind.
Union Pacific second only to Erie IN respect
to both activity and strength; In both instances
inference from the nuyg hsve tPss bsn nssar
and reasonable conclusion. AS group, the an,
thracite coal shares were strong even II quiet ana
Reading and Lackawanna closed small fraction
higher. Reading was affected by reports about
the payment of interest on the preference bonds.
but il it should be in scrip or some other form
will lead only to fresh litigation. II will he
difficult, perhaps to convince foreign holders OF
tie bonds that the company has, earned the N;
condition of the anthracite coal trade is certainly
not such as to justify the advances in Reading
and Lackawanna.
While the final variations were generally De.
clines and in many cases the last prices were
practically the lowest the market was at no time
weak The shrinkage in the volume Of business
was proof that timd holders only were DISTURBED
THE DAY IN THE BOND MARKET.
There was slackened demand for Govern.
ment bonds, and a sale of 100000 coupon rs AZ
lIsI-4 did not prevent reduction OF IA per
cent in bids for that issue The closing quotations
were as follows: